Zinnov Says the Media & Entertainment Market, Currently Pegged at USD 1.7 Tn, Will Grow to Touch USD 2.4 Tn by 2023
/ -- - The overall market is expected to witness a growth of 7.1% YoY growth till 2023
- Broadcasting is the largest M&E market segment at USD 441 Bn and accounts for more than one-fourth of the overall market
- Spend on digital engineering initiatives is pegged at USD 4 Bn and is expected to grow 3X to reach USD 11 Bn by 2023
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Speaking about this development in the Media, Communications and Technology space, Sidhant Rastogi, Partner & Practice Head, Zinnov, said, "The Media, Communications & Technology vertical is undergoing a convergence phase: Telecom operators are targeting to enter the OTT/Content business as a part of a concentric diversification strategy. This helps them compensate revenue loss from the traditional voice and data business, and they can efficiently leverage their existing delivery network infrastructure to offer Quality of Service (QoS) to consumers. The market has witnessed increasing number of alliances/partnerships between telecom operators and content producers in the past couple of years, which is driving a partnership-led growth model in this segment."
About Zinnov:
Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in Silicon Valley, Houston, Bangalore, and Gurgaon. Over the past 17 years, Zinnov has successfully consulted with over 250+ Fortune 500 customers to develop actionable insights that help them in their transformation journeys. With core expertise in Product Engineering and Digital Transformation, Zinnov assists clients by:
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