According to a new market report pertaining to the global broadcast infrastructure market, the global broadcast infrastructure market is projected to reach a value of ~US$ 12.8 Bn by the end of 2019, and further reach ~US$ 21.2 Bn by 2027, expanding at a CAGR of ~7% from 2019 to 2027. Expansion of the broadcast infrastructure market can be attributed to increasing investments in IT infrastructure by the telecom industry, globally. North America is anticipated to lead the global broadcast infrastructure market, followed by Europe, during the forecast period.
Rising Digital Advertising to Boost Broadcast Infrastructure Market
In the current scenario, marketing leaders are spending more on their websites, digital commerce, and digital advertising than ever before. Not only large enterprises, even small and medium enterprises are shifting from traditional advertising to digital advertising. Enterprises are spending a considerable percentage of their total advertising budgets on various digital advertising solutions. Therefore, the need for media and broadcasting solutions and services for advertisement and data management is growing at a higher pace, thus driving the broadcast infrastructure market globally. The adoption of media and broadcasting technology is unceasingly rising among broadcasters, because it enables them to fulfill all advertisement insertion demands and deliver reliable results without complexity or high costs.
Advent of 5G Technology to Offer Significant Opportunity to Broadcast Infrastructure Market
The advent of 5G in the broadcast and media industry is expected to deliver an increasingly integrated mobile/video customer experience. It is expected to also support growth in Augmented Reality (AR), Virtual Reality (VR), industrial automation, and AI. Thus, the increasing adoption of 5G is expected to create new opportunities for the broadcast infrastructure market.
5G technology, which is the future of media delivery, is projected to enhance the mobile experience and offer consumers limitless media consumption. Further, for content providers and broadcasters, 5G broadcast is set to create an opportunity to expand, as it addresses free to air, mobile devices directly, where a mobile SIM card is not needed. Moreover, network operators are expected to be able to improve their business by offering their services to content providers by providing high data rate content to mobile users simultaneously with other networks.
5G technology would also support massive IoT when identical content needs to be distributed to a number of devices. It also allows OTA (over-the-air) firmware to improve messaging more efficiently.
Rising Need for Content Storage Systems among End Users Helping Broadcast Infrastructure Market
Media consumption around the globe is unceasingly increasing, especially in digital formats. Growing media consumption, globally, is compelling content creators to generate more and more digital content in order to attract more customers to adopt their services. More the volume of content, more the requirement of content storage solutions to manage the content that is stored and intended to be delivered to customers through different platforms. Therefore, the rising need for content storage systems is anticipated to create new opportunities for the growth of the broadcast infrastructure market.
Content creators are outsourcing storage space from datacenters, and for the same, they require content storage systems to manage their content storage process. This can be seen as an opportunity for broadcast infrastructure providers to provide content storage systems along with their other major software, including content/digital asset management and real-time broadcast analytics solutions, to minimize the overall expenditure of content creators on content storage space and related solutions.
For instance, Grass Valley Company is engaged in providing servers, storage, and recorders along with other media and broadcasting solutions and services to its customers.
Broadcast Infrastructure Market: Regional Outlook
In terms of region, the global broadcast infrastructure market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America led the global broadcast infrastructure market, and is estimated to account for a substantial share by the end of 2019, with the U.S. being a major market in the region. The broadcast infrastructure market in North America is expected to hold a dominant share of ~33% of the global market by the end of2019. The broadcast infrastructure market in Asia Pacific is projected to expand at a notable CAGR of ~7% during the forecast period. The broadcast infrastructure market in the Middle East & Africa is also estimated to expand moderately during the forecast period.
Broadcast Infrastructure Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global broadcast infrastructure market. Key players profiled in the report include Acorde Technologies S.A, AVL Technologies, Inc., Cisco Systems, Inc., Clyde Broadcast, Eletec Broadcast Telecom S.A.R.L, Ericsson AB, Evertz Microsystems, Ltd., EVS Broadcast Equipment, Grass Valley, Harmonic Inc., Kaltura Inc., and Zixi, LLC.
These insights are based on a report on Broadcast Infrastructure Market by Transparency Market Research.