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2020

Media & Entertainment Storage Market

Media & Entertainment Storage Market Size, Share and COVID-19 Impact Analysis By Component (Solution and Services), Storage Solution (Direct-Attached Storage, Network-Attached Storage, and Storage Area Network), Deployment Type (Local (On-Premise), Remote (Cloud), and Hybrid)), Storage Medium (HDD, SSD, Digital Tape, and Others), and End User (Broadcast, Production and Post-Production, Media Agencies, Advertising, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

IC : Entertainment & Media Technologies

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Author's: Vikas Gaikwad & Rachita Rake | Onkar Sumant
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Media & Entertainment Storage Market Statistics - 2027

The global media & entertainment storage market size was valued at $6,635.7million in 2019, and is projected to reach $17,879.5million by 2027, registering a CAGR of 13.7% from 2020 to 2027. Digital storage plays a vital role across the professional media & entertainment (M&E) industry. Media & entertainment storage demands characteristics, which are different from typical IT storage, owing to performance requirements of real-time video in capture, post-production, and editing as well as distribution. The media & entertainment industry is experiencing a paradigm shift across data storage mainly driven by massive volumes of digital content produced from much larger assets, and it is continually growing in both density and size. Storage solutions enable IT systems of M&E companies or professional to store, manage, and access content for diverse media workflows. 

By storage solution, the global media & entertainment storage market share was dominated by the direct-attached storage segment in 2019, and is expected to maintain its dominance in the upcoming years. This is attributed to increase in adoption of direct-attached storage (DAS) solutions by individual content producers as well as small & medium sized companies. DAS is well suited for small-to-medium sized companies in the media & entertainment industry where sufficient amounts of storage can be configured at a low startup cost.

Media-&-Entertainment-Storage-Market-2020-2027

By deployment type, the global media & entertainment storage market was dominated by the local (on-premise) segment in 2019, and is expected to maintain its dominance in the upcoming years, owing to rise in concerns about security of data or content associated with media & entertainment projects, which is highly valuable, encourages companies to adopt local or on-premise solutions. Leading companies in the storage industry such as Microsoft, Dell EMC, and Seagate Technology provide on-premise software for their customers in the media & entertainment sector.

North America dominates the media & entertainment storage market, owing to various factors such as rapid expansion of streaming video on demand (SVOD), need to distribute content across strong domestic and international markets, and surge in virtual reality (VR) gaming in the region. In addition, the U.S. media & entertainment industry is home to a large talent pool of producers, writers, directors, actors, and technical experts, as well as it is home to a variety of post-production firms, film crews, and infrastructure to support production. This factor dominantly fuels huge demand for storage solutions in the media & entertainment industry across the region. However, Asia-Pacific is expected to observe highest growth rate during the forecast period, as proliferation of mobile phones, social media, and gaming apps is the major driving factor for progressively growing media & entertainment storage market across Asia-Pacific. 

The report focuses on the growth prospects, restraints, and media & entertainment storage market analysis. The study provides Porter’s five forces analysis of the internet advertising industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the media & entertainment storage market trends.

Segment review

The media & entertainment storage market is segmented on the basis of component, storage solution, deployment type, storage medium, end user, and region. On the basis component, it is categorized into solution and services. On the basis of storage solution, it is classified into direct-attached storage, network-attached storage, and storage area network. As per the deployment type, it is classified into local (on-premise), remote (cloud), and hybrid. Depending on storage medium, it is divided HDD, SSD, digital tape, and others. On the basis of end user, it is classified into broadcast, production and post-production, media agencies, advertising, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Impact of COVID-19 on Media & entertainment Storage Market:

Post COVID-19, size of the media & entertainment storage market is estimated to grow from 7,299.9 million in 2020 and projected to reach $17,879.5 million by 2027, at a CAGR of 13.7%. The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has low impact on growth of the media & entertainment storage market. Social distancing and quarantine mandates have led most productions to halt; hence, broadcast networks around the globe are rapidly adjusting to accommodate disruptions across the content supply chain. However, majority of population across the globe is seized in their homes; hence, there is surge in demand for digital-video-recorder (DVR) recordings, streaming services, and video-on-demand fuels the media & entertainment storage market growth.

Media & Entertainment Storage Market
By Storage Solution
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Network-attached storage is projected as one of the most lucrative segments.

In addition, there is surge in popularity of online gaming during the pandemic. This factor provides numerous opportunities for the market growth. In addition, players operating in the market are introducing advanced gaming storage solutions to tackle this opportunity. For instance, in October 2020, Seagate Technology launched its new line of revolutionary internal and external storage solutions for gamers. These solutions include Seagate FireCuda 520, Seagate FireCuda Gaming SSD, Seagate FireCuda 120, and Seagate BarraCuda Fast SSD.

Top impacting factors    

Growth of the global media & entertainment storage market is driven by factors such as rise in popularity of 4K UHD content; growth in shift from traditional to digital advertising channels; and increase in demand for creation, distribution & conversion of video content. In addition, rapid advances in areas including workflow collaboration, artistic creativity, and new distribution models across the media & entertainment industry fuels the market growth. Moreover, rise in demand for media & entertainment storage due to the COVID-19 pandemic fuels the market growth. However, high cost of media & entertainment storage solutions hinder the market growth to some extent.  On the contrary, surge in demand for storage requirements as image resolution increases and the stereoscopic VR video becomes popular is anticipated to provide lucrative opportunities for the market growth. In addition, emergence of advanced media & entertainment storage solutions to maintain data integrity and security is expected to be opportunistic for growth of the media & entertainment storage market during the media & entertainment storage market forecast period.

Media & Entertainment Storage Market
By Deployment Type
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Hybrid deployment type is projected as one of the most lucrative segments.

Rise in popularity of 4K UHD content 

Popularity of 4K ultra-high-definition (UHD) content is growing extensively. For instance, Netflix is already providing 4K UHD movie services to its consumers. On the other hand, Amazon is also offering 4K UHD streaming services. Development of 4K TV as well as other high-resolution venues in mobile and in home devices drive demand for compression of digital content (especially enabled by high efficiency video coding (HEVC) and versatile video coding (VVC)). In addition, rise in popularity of UHD content is enabling emergence of capture and display devices for 8K X 4K content, which further fuels the market growth. 

In addition, market players operating in the media & entertainment industry are providing sophisticated products to tackle growing popularity of 4K UHD content. For instance, Dell EMC PowerScale network-attached storage (NAS) is one of the ideal solutions for 4K uncompressed digital media content creation and high-performance compositing, VFX, and rendering. Availability of such products is expected to fuel the media & entertainment storage industry growth during the forecast period.

Media & Entertainment Storage Market
By End User
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Others segment is projected as one of the most significant segments.

Rapid advances in various areas across the media & entertainment industry

Technology has grown exponentially in past few years across the media & entertainment industry. This has bombarded film, publishing, TV, and music industries with new competition, product landscapes, and business models that benefit a digitally sophisticated consumer base. In addition, the need for effective workflow collaboration, artistic creativity, and new distribution models fuel demand for storage requirements for various stages such as content capture, content delivery, editing & post-production, as well as archiving & digital preservation. 

Presently, media management, creation, and delivery landscape, post-production, visual effects, and animation companies are facing challenges of creating new higher definition content on shrinking budgets. Hence, centralizing assets into streamlined shared storage enable media organizations accelerate production, drive collaboration, and reduce costs by eliminating separate silos of video assets. For instance, Dell EMC PowerScale offers a consolidated and collaborative storage environment that enables a real-time collaboration with multi-protocol access and integration with key partner software as well as easy search across multiple storage methods.

Media & Entertainment Storage Market
By Country
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific is projected as one of the most significant region.

Key Benefits For Stakeholders

  • This study includes the media & entertainment storage market analysis, trends, and future estimations to determine imminent investment pockets.
  • The report presents information related to key drivers, restraints, and media & entertainment storage market opportunity.
  • The media & entertainment storage market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in media & entertainment storage industry.

Media & Entertainment Storage Market Report Highlights

Aspects Details
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By Component
  • Solution
  • Services
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By Storage Solution
  • Direct-Attached Storage
  • Network-Attached Storage
  • Storage Area Network
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By Deployment
  • ON-PREMISE
  • CLOUD
  • .HYBRID
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By Storage Medium
  • HDD
  • SSD
  • Digital Tape
  • Others
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By End User
  • Broadcast
  • Production and post-production
  • Media agencies
  • Advertising
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Spain, Russia, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

MICROSOFT CORPORATION, INTERNATIONAL BUSINESS MACHINES CORPORATION, TOSHIBA CORPORATION$, DELL EMC, CISCO SYSTEMS, INC., SEAGATE TECHNOLOGY LLC, NETAPP, ORACLE CORPORATION, WESTERN DIGITAL TECHNOLOGIES, INC., AMAZON WEB SERVICES, INC.

Analyst Review

According to CXOs of leading companies, the media and entertainment storage industry is going through enormous transformation and growth. In addition, the industry is undergoing a paradigm shift in data storage driven by huge volumes of digital content generated from much larger assets. The content is continuously growing in both density and size. In addition, digital content generated from studios and production houses are reaching new levels of growth, mostly driven by faster frame rates and higher image resolutions that are challenging legacy storage infrastructure as well as associated budgets. Hence, there is enormous growth in storage budgets in media & entertainment companies and emerging need for effective storage solutions.

Moreover, traditional recovery and backup solutions have proven ill-equipped to keep up with demands to manage more critical data. Volumes of data in the media and entertainment industry is growing at a rapid pace as video formats move to 2K, 4K, and 8K. Hence, organizations require advanced archiving capabilities to ensure this increasing volume of critical information is accessible whenever needed. For instance, ASG-Digital Archive and Oracle’s StorageTek digital tape libraries are among the several archiving solutions which is perfect match for large digital asset environments such as media pre- as well as post-production. With the adoption of archive solutions, organizations are experiencing dramatic improvements across the scope and economics of their storage, while maintaining robustness, flexibility, and scalability.
Moreover, higher performance solid-state storage is expected to play a huge role in the upcoming years as a result of variations in economics of storage devices around the globe.   In addition, cloud and hybrid storage is expected to gain importance for many workflows during the COVID-19 pandemic.  As the pandemic passes, adoption of cloud storage is anticipated to continue its growth in the media and entertainment storage market during the forecast period.

Furthermore, emerging technologies and developments across the media and entertainment industry us expected to further boost the media and entertainment storage market. It includes massive development of new and emerging technologies, such as video streaming, AR, VR, and IoT. Moreover, development  of artificial intelligence (AI) for online content is anticipated to enable more personalization in digital videos. On the other hand, 5K technology is anticipated to transform how consumers use online content, hence, fuels demand for effective storage solutions. These factors are expected to provide lucrative growth opportunities for the media and entertainment storage market.

The media and entertainment storage market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 50 to 60% of the share. The degree of concentration is expected to remain same during the forecast period. Owing to the competition, vendors operating in the market offer advanced media and entertainment storage solutions to improve marketing strategies of enterprises. On the other hand, growth in investments of companies across the media and entertainment industry in storage solutions fuels the market growth. For instance, in March 2017, BBC Creative announced investments in post-production and media management services and collaborated with Ericsson. Ericsson delivered end-to-end services, such as edit & audio suites, desktop facilities, and storage including browse functionality and archive. In addition, key players are heavily investing in R&D activities to develop effective media and entertainment storage technology and service offerings, which is opportunistic for the market.

Author Name(s) : Vikas Gaikwad & Rachita Rake | Onkar Sumant

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Media & Entertainment Storage Market

Global Opportunity Analysis and Industry Forecast, 2020-2027