Virtual studio technology is a type of digital interface standard which is used to integrate and connect synthesizers, software audio effects, and effect plugins with audio editors and recording systems. This technology is a software emulation of hardware instruments such as synthesizers and samplers. It helps in providing a custom user interface that mimics the original hardware down to switches and knobs. It helps the broadcasting industry to create virtual versions of devices and equipment that might be otherwise too difficult or expensive to procure. Virtual studio software creates an integrated virtualization environment which includes virtual networks and virtual machine templates, that helps in reducing the risk of configuration errors and simplifying the system set-up.
Virtual studio software makes it easy to maintain as well as to create virtual systems for development, training, testing, and on-line production. Setup/deployment and maintenance of multiple hardware can be time consuming and expensive. Virtualization provides many convincing benefits including reduced number of hardware to buy and maintain, increased engineer productivity and configuration flexibility, and increased availability with easier disaster recovery. Rising growth of virtual studio software for broadcasters and service providers is also a major factor responsible for driving the market. These factors are projected to boost the demand for virtual studio software during the forecast period. As these solutions help in reducing operational cost, the media & entertainment industry is seeing rising adoption of virtual studio software.
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The latest trend of rise in the number of broadcast channels worldwide and rise in IT investments in the media and entertainment industry is anticipated to offer lucrative opportunities to virtual studio software providers across the world, especially in North America. Additionally, an increase in the adoption of workload management software in medium- and small-sized enterprises is anticipated to offer lucrative opportunities for key players in the coming years. However, software deployment and personnel costs are likely to be some of the barriers to adoption of these solutions during the forecast period. Training of personnel on real-time techniques is a key concern regarding adoption of virtual studio software.
The global virtual studio software market can be segmented based on component, end-use, enterprise size, and region. In terms of component, the virtual studio software market can be divided into hardware, software (on-premise, cloud (public cloud, private cloud), and hybrid) and services (managed services and professional services (maintenance, integration, and installation)). In terms of end-use, the virtual studio software market can be divided into media & entertainment, IT & telecom, manufacturing, energy & utilities, and architecture. Based on enterprise size, the virtual studio software market can be segmented into small & medium enterprises (SMEs) and large enterprises.
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In terms of region, the global virtual studio software market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Among these, North America is anticipated to hold a major share of the global market during the forecast period. This can be ascribed to rise in media and entertainment industry and presence of a large number of vendors providing solutions to various industries in the region, promoting large-scale adoption of virtual studio software in the region. The virtual studio software market in Asia Pacific and Europe is expected to witness lucrative growth opportunities during the forecast period due to increasing adoption of this solution in the broadcasting industry in these regions. It is also attributable to increasing technology expenditure in countries such as Australia, China, and India. Furthermore, the virtual studio software market in Middle East & Africa (MEA) and Latin America is also expected to expand at a significant rate during the forecast period.
Major players operating in the global virtual studio software market are Microsoft Corporation, Emerson, Avid Technology, Inc., PreSonus Audio Electronics, Inc., Monarch Innovative Technologies Pvt. Ltd., Brainstorm Multimedia, RT Software Ltd. and VirtualRig Studio.
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