The result, said the analyst, was that companies were using cloud-based production techniques to solve the physical separation of their workforce. It added that the conventional thought that has dictated so many technology purchasing decisions, that all members had to be within arm’s reach, has been challenged by the pandemic, with cloud and remote production proving their worth. This situation, which it describes as trial by fire, has shown that new techniques can be deployed, enabling new use cases and cost efficiencies inside what Rethink called a typically conservative industry.
The analyst expects total production costs in the video industry to grow from $291 billion in 2020 to around $376 billion in 2026 and that cloud production revenues will rise from $601.87 million in 2020 to $2.48 billion in 2026. Rethink noted that it believes growth is not delineated by regions and will not be until this market has matured significantly.
Looking at future trends, Rethink says cloud computing is an overarching trend that is arriving in every sector of the video industry and that its uptake in production will be slower, due to the prevalence of in-field production elements. Rapid TV News