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Media and Entertainment (M&E) Storage Market to Grow by USD 18.96 Billion (2024-2028) as Shift to Digital Advertising Expands, with AI Redefining the Market Landscape – Technavio

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NEW YORK, Oct. 16, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Media and Entertainment (M & E) storage market size is estimated to grow by USD 18.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.2% during the forecast period. growing shift from traditional to digital advertising channels is driving market growth, with a trend towards high broadcasting cost. However, threat to data security poses a challenge – Key market players include Adobe Inc., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., CK Birla Group, D Link Corp., Dell Technologies Inc., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Lenovo Group Ltd., Microsoft Corp., NetApp Inc., NVIDIA Corp., Oracle Corp., Pure Storage Inc., Seagate Technology Holdings Plc, Toshiba Corp., Wasabi Holding Co. Inc., and Western Digital Corp..

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Media And Entertainment (M And E) Storage Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.2%

Market growth 2024-2028

USD 18955.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.86

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 34%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Adobe Inc., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., CK Birla Group, D Link Corp., Dell Technologies Inc., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Lenovo Group Ltd., Microsoft Corp., NetApp Inc., NVIDIA Corp., Oracle Corp., Pure Storage Inc., Seagate Technology Holdings Plc, Toshiba Corp., Wasabi Holding Co. Inc., and Western Digital Corp.

 

Market Driver

The introduction of 4K2K TVs with superior picture clarity and resolution has brought significant change to the Media and Entertainment (M and E) Storage Market. Broadcasters face substantial investments to produce 4K UHD channels, with costs ranging from USD9 million to USD16 million – nearly five times the cost of HD channels. Upgrading infrastructure also requires high capital expenditure. Limited broadcasters, like Netflix and Amazon, offer 4K content streaming due to these expenses. However, alliances between broadcasters and consumer electronics companies promote 4K content, increasing 4K2K TV penetration. The growth in 4K UHD content and supporting displays necessitates higher storage capacity, driving market expansion during the forecast period. 

The Media and Entertainment (M and E) storage market is experiencing significant growth due to the increasing demand for high-quality digital content in various formats like video, audio, and multimedia files. Trends such as Artificial Intelligence (AI) and Internet of Things (IoT) are driving the need for advanced storage solutions that can handle high definition, 8K media, and real-time streaming. Content production technologies require scalable storage solutions for remote collaboration and cloud retrieval. Data integrity and protection mechanisms are crucial for backup, archiving, and disaster recovery. High-capacity storage, advanced data analytics, and automation are essential for production workflows. Machine learning algorithms, metadata tagging, and content classification help in efficient content management. Cloud-based storage, on-premises servers, and a tiered storage approach are popular storage technologies for M and E industries. Archival regulations and on-demand content require data management solutions. Solid State Drives (SSDs) offer faster access to content creation and video editing. 

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 Market Challenges

The media and entertainment (M and E) storage market is driven by significant demand from broadcasters, who are major end-users and significant revenue contributors. In contrast, the music streaming industry, which relies on digital networks and the Internet, faces challenges related to data security and licensing issues. Streaming service providers must address concerns over digital rights misuse, as vulnerabilities such as human errors or data breaches can result in confidential information disclosure. The streaming platform’s multi-hosting nature increases security risks, as data leakage and misuse are potential threats while transitioning between platforms. Adherence to complex licensing procedures and strict guidelines is essential for vendors to efficiently monitor data security and protect sensitive user and publisher information. Failure to do so may result in reputational damage and loss of consumer confidence, ultimately impacting revenue growth for both streaming services and storage solution providers.The Media and Entertainment (M and E) storage market faces several challenges in managing and storing digital content. Content creation requires high-quality, scalable storage solutions for digital content in various formats, including high resolution and high definition. Storage technologies like cloud-based, object, direct attached, network attached, and hybrid solutions are used to meet these needs. Archival regulations and data management are crucial for long-term storage of content. On-demand content and real-time streaming require high-performance storage and efficient workflows. Data security is essential for protecting valuable intellectual property. High data transfer rates and large storage capacity are necessary for handling large files and workflows in video editing, post-production, and broadcast. Smart devices and broadband internet enable digital content consumption on various platforms. Emerging technologies like virtual reality gaming, 4K UHD content, and versatile video coding require solid-state storage and archiving solutions. Media agencies, advertising, and various industries rely on M and E storage for content distribution and creation. Data security, high performance, and real-time video are essential for meeting the demands of the digital age.

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Segment Overview 

This media and entertainment (m and e) storage market report extensively covers market segmentation by

End-user 1.1 Broadcast1.2 Production and post-production1.3 Media agencies1.4 Advertising1.5 OthersSolution 2.1 Network-attached2.2 Storage area network2.3 Direct-attached storageGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Broadcast- The global media and entertainment (M and E) storage market in the broadcast sector is projected to expand significantly during the forecast period. This growth is primarily driven by the increasing number of broadcasters worldwide. Media storage solutions enable broadcasters to offer media streaming services to a large audience. Streaming media devices allow users to access online content on TVs, with many viewers using them multiple times a week. Service providers analyze user viewing habits to offer personalized content, enhancing consumer engagement. Streaming models, such as subscription or pay-per-view, provide uninterrupted access to movies and TV series. User-friendly interfaces and simplified video on demand (VOD) options are essential for service providers to compete effectively. The increasing Internet penetration, particularly in emerging markets like India and China, is fueling the growth of the VOD market. Hotstar, a VOD platform in India, experienced significant growth in 2022. The high-speed Internet enables seamless video streaming, driving market growth in the forecast period. Streaming media devices are popular as they offer a superior viewing experience, allowing users to watch movies, sports, and TV series on their TV sets.

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Research Analysis

The Media and Entertainment (M and E) storage market is a dynamic and ever-evolving industry that caters to the growing demand for high-quality, on-demand digital content. With the content creation across various genres, from high definition videos to virtual reality gaming, the need for and scalable storage solutions has become paramount. Storage technologies have evolved significantly, with cloud-based options becoming increasingly popular due to their flexibility and cost-effectiveness. Data management is a critical aspect of M and E storage, with archival regulations and data protection mechanisms ensuring data integrity and availability. High resolution formats, such as 4K UHD content and 8K media, require high-performance storage solutions to ensure seamless playback and editing. Content production technologies, including digital video recorders and versatile video coding, enable the creation and distribution of multimedia files in real time. Scalability and remote collaboration are essential features of modern M and E storage systems, allowing for efficient post-production and editing processes. Backup and disaster recovery solutions ensure data protection and business continuity, making them an essential component of the M and E storage landscape.

Market Research Overview

The Media and Entertainment (M and E) storage market is a dynamic and ever-evolving industry that caters to the demands of content creation, distribution, and consumption. With the digital content production, high-quality on-demand streaming, and real-time video delivery, the need for scalable storage solutions has become crucial. M and E storage technologies include various options such as cloud-based storage, object storage, direct attached storage, network attached storage, and storage area networks. Content creation involves high-resolution formats, including 4K UHD and 8K media, which require high-performance storage solutions. Digital content, including video, audio, and multimedia files, necessitates efficient workflow collaboration and digital preservation. Data management is a critical aspect of M and E storage, with archival regulations, data security, and data integrity being essential considerations. Advanced data analytics, automation, and machine learning algorithms are also increasingly being adopted to optimize production workflows and enhance content classification. The M and E storage market is influenced by various factors, including content distribution, video editing, real-time streaming, and broadcast. The advent of smart devices, broadband internet, and high data transfer rates have led to an increase in digital content consumption. Emerging technologies such as virtual reality gaming, online gaming, and Versatile Video Coding (VVC) are also driving the demand for advanced storage solutions. The market is witnessing a shift towards hybrid storage solutions, including solid-state drives, hard disk drives, digital tape, and cloud storage solutions. These solutions offer a tiered storage approach, disaster recovery, and backup capabilities, ensuring data protection and business continuity. In summary, the M and E storage market is a complex and diverse landscape that requires innovative and flexible storage solutions to cater to the evolving needs of content creation, distribution, and consumption. The market is influenced by various factors, including technology trends, regulatory requirements, and consumer preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userBroadcastProduction And Post-productionMedia AgenciesAdvertisingOthersSolutionNetwork-attachedStorage Area NetworkDirect-attached StorageGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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LG webOS Transforms Home Entertainment with Effortless Content Discovery and Seamless Viewing Experience

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The platform puts the user at the centre, creating a simple and intuitive path to great content

LG Electronics’ webOS serves as a central entertainment hub, bringing together streaming services, live TV, and free channels in one place, designed to make content easier to find and enjoy.A clean, intuitive interface reduces complexity, helping viewers navigate content smoothly and naturally without friction.Personalized recommendations surface relevant content based on viewing habits, simplifying choices and reducing time spent searching.

DUBAI, UAE, May 12, 2026 /PRNewswire/ — LG Electronics continues to enhance home entertainment with webOS, a platform that seamlessly integrates streaming services, live TV, free channels and multiple of functionalities, including AI and voice control, all accessible on a single platform. Designed with the user experience at its core, webOS streamlines the viewing experience by organizing content across apps and services, helping viewers find and enjoy their favorite content more easily.

 

 

One Place for All Content

webOS is a one-stop entertainment destination, integrating streaming services, live TV, gaming, and LG Channels into a single, seamless experience. Users can access a wealth of free content on LG Channels without the need for downloads or subscriptions, significantly enhancing the ease of access. This streamlined approach reduces the steps required to find and enjoy content, allowing viewers to dive straight into their favorite shows and movies.

A Simpler Way to Navigate

The webOS interface emphasizes clarity and ease. The home screen keeps content prominently displayed and navigation straightforward, ensuring viewers spend less time sifting through menus and more time enjoying what they love. Every aspect of the interface is crafted with the viewing experience in mind, prioritizing user engagement over technical complexity.

Finding Content Without the Effort

By analysing viewing habits, webOS intelligently curates relevant content, making discovery faster and more intuitive. Instead of overwhelming users with choices, the platform simplifies decision-making, helping them find enjoyable content without the search feeling like a chore.

A Viewing Experience Built Around the User

Across its smart TV lineup, LG has designed webOS to embody a straightforward principle: technology should enhance the viewer’s experience. The result is a platform that feels premium and refined while remaining incredibly easy to use. With webOS, the focus shifts back to the joy of watching, ensuring that the entertainment experience is as seamless and satisfying as possible, making it the ultimate content-first, user-centric solution in the smart TV landscape.

Enhanced Stadium-Scale Sports Viewing Experience with Real-Time Updates

The 2026 LG QNED evo TVs equipped with webOS 26 provides users exciting viewing experience with LG Sports Portal, real-time Sports Alert and more. These are designed to provide users an easy way to follow sport events, from the comfort of your home. The Sports Portal serves as a centralized hub for live sport content, scores, match schedules, and group rankings, allowing football fans all-in-one access to key information without switching apps or devices. The Sports Alert feature enabled via My Page allows users to receive notifications for selected teams and leagues, including score updates, match results, and upcoming games, while the AI Concierge card can also easily help discover key stats just via voice activation as part of the daily routine.

In a world where content is abundant, but navigation can be complex, LG webOS stands out as the solution that puts the viewer in control, enhancing enjoyment through simplicity and ease of access.

About webOS platform

The webOS platform has powered LG TVs for over a decade, earning acclaim for its user-friendly interface that allows for easy navigation and customization. With a growing ecosystem of global partners, webOS is set to drive LG’s future growth across multiple devices and out-of-home experiences.

LG Channels, LG’s exclusive free streaming service, offers a wide selection of premium live and on-demand programming, including movies, TV shows, news, sports, comedy, anime and more. With an always growing number of channels, owners of LG TVs, smart monitors or projectors can easily discover their favorite programs by launching the LG Channels app. LG Channels is also available for Automotive and Hotel TV. For more news on webOS for Smart TV, visit www.lg.com

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From Coffee Grounds to Carbon Cutting: Master Concept and Geotab Reframe Logistics Efficiency in Malaysia

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KUALA LUMPUR, Malaysia, May 12, 2026 /PRNewswire/ — Can the secret to a more profitable fleet be found in a cup of coffee?

Master Concept, a leading cloud technology and digital transformation consultancy, recently hosted “Brewing Efficiency: Coffee, Carbon, and Better Fleets” at The Next Door of Little Eden Succulents. This exclusive event gathered Malaysia’s logistics leaders to explore the intersection of geospatial AI, telematics, and environmental responsibility, concluding with a unique hands-on coffee upcycling workshop.

“If we want to build a better future for transport, we must build it where drivers, thinkers, and dreamers already gather,” said Athena Wong, Regional Director of Geospatial Solutions at Master Concept, during the opening.

The Future of Mobility: Efficient and Sustainable
As Malaysia intensifies its ESG commitment, the logistics sector is under pressure to decarbonize. Master Concept, in partnership with global IoT leader Geotab, demonstrated how data-driven insights drive leaner, greener operations.

The session highlighted how the Google Maps Platform is revolutionizing the “outside world.” By leveraging AI-driven mapping—including location imagery, road conditions, and driver navigation—businesses can navigate the environment with unprecedented clarity.

To complement this, Geotab showcased vehicle insights beyond standard GPS tracking. By monitoring fuel efficiency, engine health, and driver safety, businesses move from reactive to proactive management. Together, these tools allow fleets to optimize routes and significantly reduce fuel consumption.

“Efficiency and sustainability are two sides of the same coin,” Athena added. “Through AI, we are giving fleet managers ‘superpowers’ to see exactly where their carbon footprint and budget are being wasted. We are moving toward a future where every kilometer driven is intentional, sustainable, and profitable.”

Sustainability in Action with Zero Waste Malaysia
The event took a hands-on turn as attendees stepped away from digital dashboards into a workshop led by Zero Waste Malaysia. Attendees rethought the concept of ‘waste’ by upcycling used coffee grounds into car pendant deodorizers. The workshop highlighted a core message: Optimization is about repurposing what is currently wasted. Just as coffee grounds become value-added products, ‘wasted mileage’ and ‘idling time’ can be converted into profit and carbon credits through the right technology.

Master Concept remains committed to driving Malaysia’s digital and sustainable future, providing the tools and expertise for businesses to navigate the evolving mobility landscape.

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SOURCE Master Concept

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IRIS launches practice management platform as firms battle 105-day billing gaps and rising write-offs

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IRIS Firm Management unifies time recording, WIP, billing and financial reporting in a single platform, giving mid-to-large practices the real-time insight to grow more profitably

LONDON, May 12, 2026 /PRNewswire/ — IRIS Software Group (IRIS), a leading global provider of accountancy, HR, payroll, and education software, today announced the launch of IRIS Firm Management (IFM), a next-generation practice management platform purpose-built for mid-to-large UK accounting firms.

With an average gap of 105 days between completing work and receiving payment*, practice profitability is under serious pressure – in a survey of 140 UK accountancy firms, 37% identified time tracking as a key challenge, with only 33% tracking utilisation, and 76% only using basic, manual, or no WIP tracking at all**. This is compounded by the growing regulatory burden brought by changes such as Making Tax Digital to evolving companies house requirements.

IFM brings together practice management, time and billing, WIP management, and financial reporting into a single integrated solution. It gives practice leaders real-time visibility into utilisation, capacity, scope creep and margin erosion, with workflows designed to reduce admin burden, enabling senior team members to focus on high-value work. Firms using IFM have reported up to 25% reduction in write-offs and two to four hours per person per week reclaimed from billing admin.

Modern Firm Management

Most practice management tools were built for compliance, not commercial performance. IFM bridges that gap, acting as a financial control layer on top of compliance software.

Jonathan Priestley, General Manager, Global Accountancy Solutions and Transformation, said, “Accountancy practices are at an inflection point and the firms that will grow are those that can turn their operational data into commercial decisions. IFM is a demonstration of our long-term commitment to UK accountants – we’ve listened, we understand the pressures they face, and we’ve built a solution that will scale alongside them as they grow. The accounting profession underpins businesses right across the UK economy, and these firms deserve technology that matches the vital role they play.”

Support for diverse firms with complex needs

IFM is available in two configurations: IFM Core designed for firms needing foundational visibility with rapid deployment, with the system live within two to three weeks, and IFM Advanced for firms with multi-office, multi-entity or governance complexity. Importantly, both configurations have the ability to scale as firms grow, removing the need to re-platform as headcount, client volumes or structural complexity increases, while protecting margins throughout.

Key benefits of IFM***:

Real time insights to support accurate, data-driven decision making with enhanced tracking, reporting, and resource allocation – with an estimated five per cent or more time leakage recovery.Automation reclaiming between two to four hours per person per week for higher value work by reducing admin work on billing, reporting and spreadsheet validation.Boosted profitability by reducing write-offs by 15 to 25 per cent through early visibility into scope creep and margin erosion before it is too late.

Top 50 firm Larking Gowen has chosen IFM as its practice management platform, with plans to migrate from its current system following an evaluation of leading cloud solutions on the market. Richard White, Chief Information Officer at Larking Gowen, said, “We needed confidence in three things: Robust data migration from our existing system, extensive APIs to power our Power Platform apps and reports and connect the growing ecosystem of cloud applications across the firm, and the reassurance of a platform built specifically for accounting practices. IFM delivered on all three.”

Long-standing IRIS customer Morgan Griffiths LLP has chosen to migrate to IFM after using IRIS’ desktop solutions to manage tax, accounts, practice management, time recording, and job tracking. IFM has been transformational for the firm’s operational efficiency, giving them more reliability and control over essential functions. Manager Andrew Hunt said: “Billing can be such a time suck, which you don’t want it to be because that eventually comes away from your profit. These things should be super simple to do, and we’ve definitely achieved that now. That’s the biggest success of IFM for us so far.”

Beyond day-to-day efficiency, IFM has created stronger foundations for Morgan Griffiths LLP to evolve. Accelerated digitalisation and improved accessibility of real-time data has enabled partners to recognise opportunities for strategic growth. Andrew said: “I think that MTD presents an enormous opportunity for us, particularly in getting clients in a much better place where they’re getting closer to real-time information of how their business is going.”

IFM Core and IFM Advanced are now available – find out more here.

*Natwest Accountancy Benchmarking Report 2024.
**These figures are from the IRIS Discovery Tool Questionnaire taken by 140 UK accountancy firms who are IRIS customers.
***These figures are based on an ROI calculator that assesses adjustable assumptions, using a combination of industry benchmarks and early adopter feedback.

About IRIS Software Group 

IRIS Software Group is a global provider of mission critical software and one of the UK’s largest privately held software companies. IRIS provides software solutions and services for finance, HR and payroll teams, educational organisations, and accountancy firms that takes the pain out of processes and lets professionals focus on the work they love. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. 
 
IRIS is the largest third-party online filer with the UK Government. Ninety-three of the top 100 UK accountancy firms use IRIS software. One in six of the UK’s workforce is paid by IRIS payroll offerings, and globally, six million employees receive their payslip via IRIS software every month. More than 850,000 UK employees are managed by IRIS HR solutions. Over 12,000 UK schools and academies use IRIS, with four million parents and guardians using IRIS apps to connect with their children’s school; 300 million messages are delivered between schools and parents each year, and over £15 million transactional payments are processed every month. IRIS is certified as a Great Place to Work® and recognised as one of The Times Top 50 Employers for Gender Equality in 2023. IRIS is also recognised as one of the Best Workplaces for Wellbeing, one of the Best Workplaces in Tech and one of the Best Workplaces for Women. 
 
To see how IRIS helps organisations get things right first time, every time, visit www.iris.co.uk or follow IRIS Software Group on LinkedIn, Twitter and Instagram.  

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