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India's Booming Media & Entertainment Industry: IT Market Trends and Opportunities, 2006 - 2010
Springboard Research , Feb 2007, Pages: 38
Media & Entertainment being one of the under-researched industries- our goal here is to help shine a bit more light on what is going on in each county in this industry and help provide more granularity regarding market figures, segmentation, key ISVs, etc.
This was an extensive research project covering over 80 Media & Entertainment companies in India, focusing on the IT Market Trends and Opportunities in the coming years. We are starting off with India for this research and we look to expand this out to the other major markets in the region.
The Media & Entertainment industry globally is undergoing a rapid change related to the emergence of the Internet and Digital Media. These technology advancements are viewed by M&E as both a challenge and an opportunity and M&E is looking to IT to enable the transition to a business model that can meet M&E industry demands. This has led to a significant increase in IT investment across the M&E industry. Springboard’s IT in the Media & Entertainment Industry report series aims to help IT vendors understand more about the opportunities that are being created by the growth of the M&E market in Asia. Springboard’s report also details the size of the M&E market and how IT can effectively tap into that market.
IT spending by the Media & Entertainment (M&E) industry expected to grow to US$220 million by 2010; IT vendors who offer industry-specific technology
solutions to M&E will outpace the competition. Estimates put the growing M&E market at US$300 million by 2010 with a compound annual growth rate of 32%. Data showed an increasing trend among M&E companies to focus on IT solutions that are specific to the Media & Entertainment industry. A vast majority of the M&E companies Springboard surveyed said that they have either invested or plan to invest the largest portion of their IT budget on industryspecific solutions. A further 47% said that their largest IT investment was for a technology solution tailored towards the Media & Entertainment industry.
“From our research, we are seeing that one of the key ways for IT Vendors to gain traction in this industry is to market the M&E industry-specific benefits that they can provide,” said Nilotpal Chakravrti, Market Analyst for Springboard Research. “While many of the IT challenges Indian Media & Entertainment companies are experiencing are similar to other industries, they are perceived as being specific to Media & Entertainment and these companies are looking for industry-specific solutions to these challenges,” added Chakravarti.
Drivers for IT spending in the M&E industry include the urgency of Indian M&E firms to reach new markets (named by 27% of M&E respondents) and the focus on solutions that better manage and deliver M&E content (according to 24% of respondents). IT is viewed as an enabler to help M&E firms achieve these two business goals and deliver their content more efficiently within the Indian sub-continent.
“Many Indian M&E firms are looking at investments in technology as a way to more effectively deliver their content to new audiences, especially cities and towns outside of the major metropolitan areas,” Chakravarti explained.
Springboard Research’s report findings also show that software represents the largest spending component by Indian Media & Entertainment firms, followed by hardware and IT services. IT services is indicated as the fastest growth area of the market. Local IT vendors are still viewed as the primary external influencers in this industry, with IBM being the only multinational vendor of note to gain a significant number of mentions as a primary influencer.
About the IT in the Media & Entertainment Industry Reports
The Media & Entertainment industry globally is undergoing a rapid change related to the emergence of the Internet and Digital Media. These technology advancements are viewed by M&E as both a challenge and an opportunity and M&E is looking to IT to enable the transition to a business model that can meet M&E industry demands. This has led to a significant increase in IT investment across the M&E industry. The IT in the Media & Entertainment Industry report series aims to help IT vendors understand more about the opportunities that are being created by the growth of the M&E market in Asia. Springboard’s report also details the size of the M&E market and how IT can effectively tap into that market.
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