This year’s report shows a dramatic increase in the use of AI services for media management, such as visual AI analysis and voice-to-text transcriptions. It also demonstrates further transition to cloud-based tools that enable a remote-first creator workforce to excel.
“Our report helps leaders in the Media Technology sector to make data-driven decisions, based on changes in industry and user behavior,” said Parham Azimi, CEO of iconik. “By assessing the trends in video technology, media producers can make informed purchasing decisions. At iconik, data drives our own internal decisions, and this report should prove valuable for the wider industry as well.”
The pandemic has accelerated the urgent need for remote access to assets, as well as the demand for video content. Online video consumption has grown 15-fold in the last five years. Video creation has become an important development area for all types of companies, reaching beyond the traditional media and entertainment sector. Whether targeting consumers or internal staff, more organizations are choosing video to convey their message and maximize engagement.
A combination of the adoption of cloud-native solutions and remote collaboration, accelerated by the pandemic, have created even more favorable conditions for media growth. To manage the increase in media content, more organizations are adopting cloud-native media management solutions.
This year, the data demonstrates:
- Accessibility of content for remote work and global collaboration continues to be important
- Organizations are storing 144 percent more of their media content in the cloud
- Instant availability of media encourages more internal and external collaboration as seen in the 77 percent rise in asset sharing
- Increase the visibility of media, AI services like visual AI analysis and voice-to-text transcriptions, are being used as much as 886 percent