Comparing Commercial Importance of Industry Trends in 2024 versus 2023

This is the second of a series of articles that discuss select findings from Devoncroft’s 2024 Big Broadcast Survey (BBS), the largest annual global study of media technology industry trends, technology purchasing plans, and benchmarking of technology vendor brands.

The prior post in this series reviewed the 2024 Devoncroft BBS Global Trend Index, an annual ranking of the media industry trends that are considered the most commercially important by global media technology buyers and users.

The chart below shows a comparison of the indices from 2024 and 2023, reflecting changes in how end-users assigned commercial importance of industry trends on a year-over-year basis.

A couple technical notes to make on the above. The chart construction is based on the raw weighting as opposed to the indexed ranking. Using this approach allows us to capture the year-over-year change for ‘IP Networking & Content Delivery,’ which was ranked first in both years.

The composition of the 2024 and 2023 trend list did contain a few changes (discussed in earlier post). Still, given most trends did not change, the comparison is straightforward between the years.

To call more attention to the relative level of change for individual trends, below is a chart shows the year-over-year percentage gains and declines of the top ten trends in the 2024 Devoncroft BBS Global Trend Index (sorted in descending order of greatest percentage increase).

Analyzing the Change in Commercial Importance of Industry Trends in 2024 versus 2023

The top trends of ‘IP Networking & Content Delivery’ and ‘AI / Machine Learning / GenAI’ both saw year-over-year increases in 2024 versus the levels recorded in 2023. This highlights the larger observation of the growing distance between the values recorded for the top two trends versus all other trends tracked. Since the 2024 Devoncroft BBS Global Trend Index is a measure of commercial importance in the current environment, respondents are attaching meaningful more importance to those trends – and by extension are expecting a more meaningful business impact (versus other trends tracked).

One trend experiencing a large year-over-year increase across the indices is ‘AI / Machine Learning / GenAI.’ Given the enthusiasm for the topic of ‘AI / Machine Learning / GenAI’ at industry events the level year-over-year increase is not surprising. Some industry observers may see correlation in the year-over-year increase in ‘Automated Operations.’ While many industry professionals are reluctant to publicly discuss the benefits of ‘AI / Machine Learning / GenAI’ to automate operation, there are fewer inhibitions when expressing opinions in an anonymized survey.

Further analysis of the results of the 2024 Big Broadcast Survey will follow in subsequent posts.

The information in this article is based on select findings from the 2024 Big Broadcast Survey (BBS), a global study of media technology industry trends, technology purchasing plans, and benchmarking of technology vendor brands. Several thousand media professionals in 100+ countries took part in the 2024 BBS, making it the largest and most comprehensive market study ever conducted in the broadcast and media industry. The BBS is published annually by Devoncroft Partners.

Granular analysis of these results is available as part of various paid-for reports based on the 2024 BBS data set. For more information about this report, please contact Devoncroft Partners.

2024 Rankings of Most Important Commercial Trends in Global Media Technology Sector

Devoncroft Blog

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