Media Function Virtualization: Introduction
- Media function virtualization is used by the media and entertainment sector to improve operational efficiency of broadcasters and content distributors. Media function virtualization has modernized the broadcast distribution infrastructure and eliminated the need of function-specific hardware.
- Media function virtualization platform offers numerous functionalities to broadcasters such as processing, transmission, media network monitoring, and signal processing. Media function virtualization software uses open source platforms for uninterrupted delivery of software. The platform enables video transcoding and content calibration to be hosted as edge computing services, which simplifies traffic management and network bandwidth.
- The global media function virtualization market is projected to grow at a rapid pace during the forecast period due to increase in adoption of media function virtualization by the media and entertainment sector.
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Global Media Function Virtualization Market: Dynamics
Global Media Function Virtualization Market: Key Drivers and Restraints
- Increase in need to address high bandwidth entertainment services such as video on demand and live streaming is anticipated to boost the global media function virtualization market during the forecast period. This is primarily because media function virtualization ensures low latency in the delivery and production of live content such as news & sports and maximizes IP networks.
- Rise in demand for transformation of broadcast and need to migrate broadcast equipment to software and IP-based models are the major factors expected to propel the global media function virtualization market in the next few years
- Growing trend of digitalization of broadcast equipment such as transformation of media in real-time transport and processing equipment hardware to software is likely to augment the global media function virtualization market during the forecast period.
- Increase in demand for cost-effective operations and need to quickly broadcast content in real-time among end-users are projected to boost the global media function virtualization market in the next few years.
- Rise in the OTT platform has brought about various changes in the TV industry. TV providers are facing various challenges to stay ahead of the competition. Hence, increase in need of the TV industry to transform business model from content creation to distribution has driven the demand for media function virtualization, which is anticipated to fuel the growth of the global market during the forecast period.
- Moreover, advent of digital technologies such as cloud computing, Internet of Things (IoT), and artificial intelligence (AI) is expected to boost the demand for media function virtualization across the globe during the forecast period
- However, lack of awareness and privacy concerns are likely to hamper the global media function virtualization market during the forecast period.
Impact of COVID-19 on Global Media Function Virtualization Market
- Increase in cases of COVID-19 across the globe has led to economic slowdown. Developed countries have been significantly affected by the pandemic. Content creation or production in the media & entertainment sector has been suspended globally. Shooting has been adversely impacted in most countries due to partial or full lockdown. This, in turn, is projected to restrain the global media function virtualization market during the COVID-19 pandemic.
- However, media function virtualization helps media and entertainment companies to transform their business model from content creation to distribution. It enables media transport and processing by software rather than hardware. This is anticipated to boost the global market during the forecast period.
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North America to Hold Major Share of Global Media Function Virtualization Market
- In terms of region, the global media function virtualization market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global media function virtualization market in 2019 due to the presence of large number of players and adoption of media function virtualization in the region
- The media function virtualization market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This can be attributed to increase in adoption of OTT platforms and digitalization of media and entertainment sector in countries such as India, China, and Japan.
