Essay, Paragraph, Speech on “Multimedia: An Emerging Billion Dollar Industry” Complete Paragraph, Speech for Classes 8, 9, 10, 11 and 12.

Multimedia: An Emerging Billion Dollar Industry

Even a couple of years back multimedia was thought to be just another application of computers. It was not considered an industry as, in the Indian market, it accounted for a business of just $ 45 millions in 1993. But the situation is changing rapidly. As the technology starts manifesting its capabilities, more and more of its application potential is being recognised. Its growth is picking up at phenomenal limited only by the imagination of users and software specialists. .

Multimedia as a technical concept is defined as the integration of audio, video, animation, text and data, using computers. Many of the advertisements, one sees on TV now-a-days, involving animation or morphing are typical examples of multimedia presentation. However, for education, training or entertainment the presentation has to be interactive. This facility allows the viewer, through a menu, say, to ask for explanation, skip, repeat or stop the presentation whenever he wants it. Thus an interactive multimedia presentation gives the user what he wants when a technology is said to be transforming into an industry a few qualifications, considered essential, are to be met. For example, its future prospects and capability to develop ancillary industries in the medium and long term. A decade ago, artificial intelligence, which also depends heavily on computers, was predicted to become an industry. But unfortunately, this did not happen as the technology failed to satisfy the above mentioned qualifications.

The multimedia technology is not likely to meet with a similar fate. Already the Indian multimedia market is significant $ 300 millions in 1994-95. (This is out of the information technology business worth of $ 2, 300 millions. The IT industry includes hardware, software and other communication network services). Based on the growth of the international multi-media market, it has been projected by the National Association of Software and Service Companies (NASSCOM), New Delhi, that Indian multimedia market will be worth $ 4,500 millions by the year 2000 – almost half of the market of $ 10, 0000 millions by then.

If one looks at the worldwide multimedia hardware shipments, video game players have the largest share, accounting for nearly half the number shipment (about 20 million units), according to NASSCOM. This is closely followed by multimedia computers numbering about 10 millions units. Other products include multimedia kits, sound boards, video boards, CD-ROM drives and voice recognizers. Of the total world wise shipments the U.S. accounts for a share of 60 percent. This is followed by Europe 20 percent and Japan 14 percent. Asia accounts for just four percent. Thus there is a tremendous potential for growth in Asia and other countries.

The other hallmark of an industry is its capacity to support other industries. In addition to the components mentioned earlier, as multimedia matures into an industry, it encompasses a few other business avenues such as communications, printing and photography too. Another qualification of an industry is the development of standards. In the case of multi-media, setting up of standards seems to be a most point as the developments are occurring at a very fast pace.

This may be true not only of multi-media industry but of any other nascent industry as well. Therefore, it may not be possible to develop common industry standards for at least a few years to come. In 1994, in India, the largest share of the market belonged to education and training (23 percent) whereas the entertainment segment was only 33 percent. This pattern may be changed in future. The education and training market will continue to contribute about 20 percent. Corporate application, tourism about 20 percent. Corporate application, tourism and science and technology will be the other major segments each accounting for nearly 10 percent of the multi-media application market.

While the education and training segment comprises interactive multimedia products for schools, colleges, rural education and other specialised training, the entertainment segment includes video games, advertising, movie and home entertainment. In business houses, it is becoming a valuable tool for marketing and demonstration, R & D and designing constitute a major chunk of the science and technology segment. Human Resource Development (training) is one application common to all the above segments in which multi-media kits play a cost-effective role.

Another major application area of multimedia kits will be tourism. This will include travel agents, airlines, railways and hotels. The tourism segment is likely to contribute about 10 percent of the market. Multimedia packages giving historical maps, cultural maps and the like, will be very handy for hoteliers and tourists. Commercialization has already started on a big scale and various CD-ROM (compact disc-read memory) titles are available in the market. Such software packages in hotels make it possible, at a few clicks of the mouse, to locate important tourist spots and know their historical, geographical or any other relevant information.

With all parameters favorably set for the growth of the multimedia industry, it is expected that India’s strength in software development will quicken it.