IT vendors catering to the Media & Entertainment (M&E) industry with vertical specific solutions could experience great times in the coming years as the country’s M&E companies are increasingly looking at specialized IT solutions to better manage and deliver M&E content.

According to the latest report by Springboard Research, the domestic M&E market could reach $300 million by 2010 with a compound annual growth rate of 32%.

In its report, "India’s Booming Media & Entertainment Industry: IT Market Trends and Opportunities 2006-2010" Springboard Research data showed an increasing trend among M&E companies to focus on IT solutions specific to that industry.

Majority of the M&E companies surveyed by Springboard revealed that they have either invested or plan to invest the largest portion of their IT budget on industry-specific solutions. A further 47% said that their largest IT investment was for a technology solution tailored towards the M&E industry.

According to Nilotpal Chakravrti, market analyst for Springboard Research, "While many of the IT challenges Indian M&E companies are experiencing are similar to other industries, they are perceived as being specific to M&E and these companies are looking for industry-specific solutions to these challenges."

"Many Indian M&E firms are looking at investments in technology as a way to more effectively deliver their content to new audiences, especially cities and towns outside of the major metropolitan areas," remarked Chakravarti.