Broadcast infrastructure market to top $12 billion in 2019, report
A new report is out noting broadcasters are seeking more cost-effective delivery methods while the overall broadcast infrastructure market is projected to hit $21 billion by 2027.
From Transparency Market Research, the report sees the 2019 market at $12.8 billion with broadcasters in North America and Europe leading the market in spending.
The key finding of the report include:
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.
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.
5G technology, which is the future of media delivery, is projected to enhance the mobile experience and offer consumers limitless media consumption.
5G technology would also support massive IoT when identical content needs to be distributed to a number of devices.
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 data centers, 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.
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 of 2019.
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.