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Indian Media & Entertainment Industry signals rich opportunities for IT
By siliconindia
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Monday, 05 February 2007, 18:30 IST
New Delhi: The Indian Media and Entertainment (M&E) companies are estimated to reach US $ 300 million by the year 2010 at CAGR of 32 percent according to Springboard Research, a leading innovator in the IT Market Research industry.
In its report, Indias Booming Media & Entertainment Industry: IT Market Trends and Opportunities 2006-2010 Springboard Research survey on a vast majority of the M&E companies showed that they have plans to invest largest portion of their IT budget on industry-specific solutions.
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 Chakravarti, 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.
About 27 percent of the M&E companies are in the urgency to reach new markets while 24 percent are focusing on solutions that better manage and deliver M&E content. 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.