Live IP Broadcast Equipment Market to Hit US$ 3,879.17 Million By 2031 | Analysis By Consegic Business Intelligence
Live IP Broadcast Equipment Market is projected to register a CAGR of 16.9% during 2023-2031, due to its increasing demand for media streaming and broadcasting applications, and major participants includes are Harmonic Inc., Panasonic Corporation, Belden Inc., Cisco Systems Inc., Grass Valley, Evertz, Sony Corporation, Sencore
New York, Oct. 11, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Live IP Broadcast Equipment Market” published by Consegic Business Intelligence, the market was worth USD 974.02 Million in 2022, projected to grow by USD 1,115.59 Million in 2023, and is anticipated to reach over USD 3,879.17 Million by the year 2031, growing at a CAGR of 16.9%.
Live IP broadcast equipment are designed for utilization in distribution of media in audio and video format from radio, television, and other modes of telecasting. The benefits of live IP broadcast equipment including ease of utilization and convenience, high quality streams, reliable content delivery, streamlined broadcasting experience, and others makes it ideal for deployment in broadcasting applications.
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The increasing utilization of live IP broadcast equipment in TV broadcasting sector is among the key factors driving the market growth. Additionally, the increasing adoption of smart TV, availability of a wide range of channels, rising penetration of the internet, and growing popularity of audio and video broadcasting are key factors fostering the growth of the TV broadcasting sector. For instance, in June 2022, the Disney-Star network launched Star Kirano, a new TV channel that broadcasts Odia television shows and series. Therefore, the growth of TV broadcasting sector is increasing the utilization of live IP broadcast equipment for effective delivery of content, thereby, driving the growth of the market.
Additionally, the rising application of live IP broadcast equipment in live streaming is projected to promote potential opportunities for the growth of the live IP broadcast equipment market. Live IP broadcast equipment play a vital role in live streaming by enabling producers to switch between multiple camera angles, graphics, and other elements in real-time. Live IP broadcast equipment also allows users to take several video inputs and direct the video output during live streaming. However, high cost associated with live IP broadcast equipment is hindering the growth of the market.
|Report Attributes||Report Details|
|Market Size By 2031||USD 3,879.17 Million|
|Key Players||Ross Video Ltd., Harmonic Inc., Panasonic Corporation, Belden Inc., Cisco Systems Inc., Grass Valley, Evertz, Sony Corporation, Sencore, EVS Broadcast Equipment|
|By Type||Encoders, Video Servers, Antennas, Production Switchers, and Others|
|By Sales Channel||Online and Offline|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Live IP Broadcast Equipment Market Growth Drivers:
- Growing TV broadcasting sector is driving the market growth.
- Rising popularity of OTT platforms is spurring the market growth.
- High cost associated with live IP broadcast equipment is restraining the market growth.
- Rising application of live IP broadcast equipment in live streaming is expected to promote potential opportunities for market growth.
Global Live IP Broadcast Equipment Market Segmentation Details:
Based on type, the encoders segment contributed the largest shares to the market growth in 2022. The benefits of encoders including high quality video encoding, low latency, versatility, multiple resolution output, high reliability, and others are primary prospects driving the growth of the segment. Additionally, the rising utilization of encoders in media & entertainment sector among others is driving the growth of the encoders segment.
Based on sales channel, the online segment accounted for the maximum revenue share in the year 2022. The rising availability of live IP broadcast equipment in online sales channels involving company websites and e-commerce websites is proliferating the growth of the segment. Additionally, factors including competitive pricing, reliable shipping and return policies, ease of utilization, and availability of targeted advertising are vital aspects boosting the growth of the online sales channel segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. The digitalization of media & entertainment industry and rising preference for OTT (over-the-top) platforms are crucial factors driving the growth of live IP broadcast equipment market in North America. Further, growing investments in media & broadcasting is projected to boost the market growth in the North American region during the forecast period.
- In April 2023, Ross Video launched its new series of production switchers integrated with audio mixing and processing capabilities. The newly launched production switchers also support most major formats and frame rates.
Key Market Highlights
- Globally, live IP broadcast equipment market is divided based on the type into encoders, video servers, antennas, production switchers, and others.
- In the context of sales channel, the market is separated into online and offline.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in live IP broadcast equipment market.
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List of Major Global Live IP Broadcast Equipment Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Ross Video Ltd.
• Harmonic Inc.
• Panasonic Corporation
• Belden Inc.
• Cisco Systems Inc.
• Grass Valley
• Sony Corporation
• EVS Broadcast Equipment
Global Live IP Broadcast Equipment Market Segmentation:
- By Type
- Video Servers
- Production Switchers
- By Sales Channel
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Key Questions Covered in the Live IP Broadcast Equipment Market Report
- What is live IP broadcast equipment?
- Live IP broadcast equipment refers to devices that are designed for distribution of media in audio and video format from television, radio, and other means of telecasting.
- What is the dominating segment in the live IP broadcast equipment market by type?
- In 2022, the encoders segment accounted for the highest market share of 37.09% in the overall live IP broadcast equipment market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the live IP broadcast equipment growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for live IP broadcast equipment from media & entertainment industry for content optimization and broadcasting is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid growth of OTT platforms, increasing developments related to TV broadcasting channels, and rising investments in media & broadcasting sector.
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