Software defined broadcasting is a system which is controlled by advanced hardware and software components that are assembled in a physical and virtual space. Currently, broadcasting organizations are adopting this technology in order to address the increasing need for agility, virtualization, and security. It also has the capability to reduce operational expenditure and provide flexible allocation of resources. The flexibility of this system enables developers to potentially configure their own stack of virtual components personalized to their individual requirements and conditions, which can undermine efficiency gains. Beyond enhanced productivity and cost savings, software-defined broadcasting can create a base for building agility into the way businesses provide broadcasting services.
The global software defined broadcasting market is witnessing substantial growth due to factors such as growing requirement for minimizing IT spending in line with changing business environments and increase in adoption of cloud services among enterprises. Growing awareness about software defined broadcasting technologies among organizations is also anticipated to fuel the growth of this market around the globe. However, higher cost associated with the implementation of this technology, and security and privacy concerns are the major factors which are expected to hinder the growth of the software defined broadcasting market across the world. Furthermore, lack of availability of experts of this technology is also limiting the growth of this market.
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The global software defined broadcasting market has been segmented in terms of component, frequency, and geography. In terms of component, the software defined broadcasting market has been classified into software and services. The deployment of software has been segmented into cloud and on-premise based software. Of the two deployment segments, the majority revenue share in the global software defined broadcasting market is expected to be held by the cloud deployment segment. The cloud deployment model refers to hosted services which are delivered over the internet. Benefits associated with cloud deployment such as accessing mission critical data remotely, cost savings on infrastructure, and enhanced collaboration is expected to propel the cloud deployment model toward flourishing growth throughout the forecast period.