SAN FRANCISCO—A new report is predicting that the global broadcast scheduling software market size is set for rapid growth, with a CAGR of 18.5% between 2021 and 2028 when the sector will produce $4.06 billion in revenue, according to Grand View Research, Inc.
Key drivers of the growth are an increase in implementation of cloud-based solutions and the growing complications in broadcast media scheduling, the research company explained.
Like many other segments of the broadcast tech business, widespread disruption of traditional business models and the pandemic, prompted broadcasters to shift from the on-premise approach to the cloud-based approach.
In addition, an increase in the adoption of smart devices and the rising popularity of multimedia streaming applications encouraged broadcasters to adopt broadcast management and scheduling solutions, Grand View Research found.
Broadcast scheduling software helps broadcasters in automating their workflows, along with reducing complexities across entire management teams.
The report noted that the service segment is likely to register the highest CAGR over the forecast period, thanks to increased demand for broadcast management and automation solutions from radio and TV broadcasters. The growing demand for integration and hosting services is also expected to fuel the growth of this segment, the report noted.
The digital platforms segment is expected to emerge as the second-largest segment in the market for broadcast scheduling software and is expected to register the highest growth rate over the forecast period, the report explained. The growth of this segment can be attributed to the growing demand for national as well as global content from all age groups and the impact of the pandemic, which caused higher rates of adoption and viewing of VOD content.
Asia Pacific is expected to witness the highest growth over the forecast period, in terms of the adoption of broadcast scheduling software, primarily due to factors such as a large customer base for linear TV and radio across countries such as Japan, China, India, and other neighboring countries and the growing demand for OTT services.
Further information on the market research report, "Broadcast Scheduling Software Market Size, Share & Trends Analysis Report By Solution (Software, Services), By Deployment (On-premise, Cloud, Hybrid), By Application, By Region, And Segment Forecasts, 2021 - 2028'', by Grand View Research can be found here.
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