The “Broadcast Infrastructure Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Component (Hardware, Software, and Services), Technology (Digital Broadcasting and Analog Broadcasting), and Application (OTT, Terrestrial, Satellite, IPTV, and Others)” report has been added to ResearchAndMarkets.com’s offering.
The broadcast infrastructure market was valued at US$ 4,499.6 million in 2021 and it is projected to reach US$ 8,145.7 million by 2028; it is expected to grow at a CAGR of 8.1% from 2021 to 2028.
Increasing 5G deployment and growing interest of broadcasters in using 5G for video contribution back-up and a combination of bandwidth and low latency is bolstering the market growth.
In the current scenario, vendors are moving from hardware-based infrastructure to software-based infrastructure due to the high cost of broadcasting hardware infrastructure, high maintenance cost, and frequent hardware upgrades. The software-based infrastructure enables low-cost operation and easy maintenance.
As broadcasters are starting to embrace software-defined infrastructure and are now using specialized software for the creation and management of broadcast-specific acquisition, editing, and distribution/storage functions, the broadcasting industry has been undergoing revolutionary innovations with technological developments to provide a better experience for users. Advancements in technology, along with shifting consumer behavior, are revolutionizing streaming services.
The demand for scalability and agility is triggering the adoption of cloud platforms in the broadcast industry and increasing demand for video viewing/interactive viewing has led to increase the adoption of cloud-based solutions and propelled the growth of the broadcast infrastructure market.
Moreover, increased government spending on cloud-based infrastructure, cloud-based solutions and managed services, and hybrid networks is anticipated to boost the broadcast infrastructure market growth. Growing security concerns and maintaining customer trust will encourage broadcasters to adopt new delivery models. All the advancements and developments are likely to have a significant positive impact on the market growth during the forecast period.
During the COVID-19 outbreak, enormous number of people working from home and spending more time online, day and night and accelerating the shift to digital.
This demand for digital resources is stressing the systems of many software and platform organizations and inhibiting their ability to deliver services with quality and reliability. To put this into perspective, since the start of the outbreak, there has been a greater than 60% increase in remote working in the US alone, TV streaming services have seen 85% growth, and demand for video conferencing has surged as consumers adopted it as their main source of communication with the outside world.
However, the broadcast infrastructure market players are facing challenges in meeting the rising demand, owing to a halt in business operations in the last few months, a decline in production of various components, as well as restrictions on the supply chain.
On the other hand, due to business lockdowns, travel bans, and supply chain disruptions, the manufacturers in the market were affected, leaving a negative impact on the market growth.
Key Players Operating
- Cisco Systems, Inc.
- Clyde Broadcast Technology
- CS Computer Systems Ltd.
- Dacast Inc.
- EVS Broadcast Equipment SA
- Grass Valley
- Ross Video Ltd