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Insights into the Live IP Broadcast Equipment Market: Major Trends And Growth Outlook for 2033
Live Internet Protocol (IP) Broadcast Equipment Global Market Report 2024
According to The Business Research Company's, The live Internet protocol (IP) broadcast equipment market size has grown rapidly in recent years. It will grow from $1.25 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to demand for high-quality content, increased adoption of 4k and UHD broadcasting, the rise of virtualization and software-defined networking, demand for multiplatform content delivery, and integration of cloud services.
The live Internet protocol (IP) broadcast equipment market size is expected to see rapid growth in the next few years. It will grow to $2.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to the rising of remote production, growing demand for live sports streaming, increasing focus on sustainability, adoption of next-generation codecs, and expansion of virtual and augmented reality. Major trends in the forecast period include cloud-based production solutions, remote production workflows, IP-based interoperability standards, advanced video compression technologies, and AI and machine learning integration.
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Market Drivers and Trends:
The rising popularity of OTT platforms is expected to propel the growth of the live Internet protocol (IP) broadcast equipment market going forward. OTT (over-the-top) platforms refer to streaming services that deliver audio, video, and other media content over the internet directly to users, bypassing traditional distribution channels such as cable or satellite television. The demand for OTT platforms is rising due to affordable pricing, original content and exclusive releases, flexibility and control, and mobile accessibility. Live streaming is a differentiator for OTT platforms, attracting and retaining subscribers. OTT providers use reliable and high-performance IP-based broadcast equipment capable of delivering seamless live broadcasts over the internet to meet the growing demand for live-streaming content. For instance, according to reports by Exploding Topics, a US-based platform that focuses on identifying and monitoring emerging trends and topics on the internet, Amazon Prime (an OTT service provider) had 230 million Prime members worldwide in 2022, which increased from 213 million in 2022. Furthermore, according to reports published by Mint, an India-based business, and financial daily newspaper, the total audience for OTT platforms rose by 13.5% to reach 481.1 million in 2023, compared to 423.8 million in 2022. Therefore, the rising popularity of OTT platforms is driving the growth of the live Internet protocol (IP) broadcast equipment market.
Major companies operating in the live Internet protocol (IP) broadcast equipment market are focused on developing advanced switchers and professional-grade cameras, such as ATEM Television Studio HD 8 and Blackmagic Studio Camera 6K Pro, to enhance live production capabilities. The ATEM Television Studio HD 8 and Blackmagic Studio Camera 6K Pro are advanced broadcasting equipment designed for professional live video production. The ATEM Television Studio HD 8 is an all-in-one HD video switcher with advanced streaming and recording capabilities. On the other hand, the Blackmagic Studio Camera 6K Pro is a high-end studio camera tailored for live production, featuring a larger 6K Super 35 sensor and an EF lens mount for cinematic image quality. For instance, in February 2023, Blackmagic Design Pty Ltd., an Australia-based digital cinema and hardware manufacturer, launched ATEM Television Studio HD 8 and Blackmagic Studio Camera 6K Pro, designed for professional live production setups. The ATEM Television Studio HD8 is a small live production switcher integrated with a broadcast control panel. It features 8 x 3G-SDI inputs, streaming, recording, multiview, DVE, keyers, USB webcam compatibility, media players, talkback, and optional cloud storage. The Blackmagic Studio Camera 6K Pro is a professional-grade camera for live production with advanced capabilities like remote-controlled ND filters, a bigger 6K sensor, and compatibility with various lenses. It enables live streaming with talkback, tally, color correction, and raw recording.
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Major Key Players of the Market:
Sony Corporation, Panasonic Corporation, Cisco Systems Inc, Ericsson AB, Arista Networks Inc, Belden Inc, Evertz, Blackmagic Design Pty Ltd, Ross Video Ltd, Imagine Communications, EVS Broadcast Equipment SA, NewTek Inc, Grass Valley, Sencore Inc, ETL Systems Ltd, Lynx Technik AG, Matrox Graphics Inc, RIEDEL Communications GmbH & Co. KG, LAWO AG, Teradek LLC, AJA Video Systems Inc, Telos Alliance, Ikegami Tsushinki Co. Ltd, Beijing Gefei Technology Co. Ltd.
Live Internet Protocol (IP) Broadcast Equipment Market 2024 Key Insights:
• The live Internet protocol (IP) broadcast equipment market size is expected to see rapid growth in the next few years. It will grow to $2.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%.
• OTT Platform Boom Fuels Surge In The Live IP Broadcast Equipment Market Growth
• Advanced Live IP Broadcast Equipment For Enhanced Live Productions
• North America was the largest region in the live Internet protocol (IP) broadcast equipment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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