Broadcasting equipment is a part of electrical machines and equipment, including Transmit-receive apparatus for radio, TV, and Television cameras, and Transmission apparatus for radio, and telephone. The broadcast media types are video and audio. Video requires images and is the most popular means of communication on television and the internet.
A video encoder generally converts the analog or digital video format to another suitable digital video format which can be delivered to a decoder. These hardware encoders have been the dedicated processors which use a particular algorithm to encode video and data into streamable content. These solutions are available in smaller, portable boxes and larger permanent fixtures. The majority of professional broadcasters prefer to use these hardware encoders for live streaming as they specialize in hardware encoding, giving them an advantage over the software encoders.
These encoders are also being used with multiple cameras, which are used to produce content by the users. The ability of the encoders to handle multiple HD channels and send multiple destinations has been a significant aspect in applications like live event broadcasts that need to be broadcast on different media outlets. This demand is further boosted since broadcasters continue innovating and upgrading their infrastructure.
An OTT video delivery system consists of various video servers that store and stream content according to multiple formats defined by standards (e.g., HLS, HDS, HSS, and MPEG-DASH). The massive surge in OTT services has increased the use of multiple broadcast equipment products, such as SDI & HDSR encoders, video servers, etc. The growth of D2C offerings through OTT is driving the usage of cloud solutions. The rise of media streaming services is majorly fuelled by the increasing demand for subscription-based services, the increasing availability of region-specific content, and the creation of original content across the world.
Moreover, the rapid adoption of mobile devices and cloud-based services, along with the increasing penetration of OTT platforms and the incorporation of AI and machine learning to help regulate live streaming and provide insights on the consumer usage pattern, and partnerships to offer more region-specific content have propelled the growth of the market across various regions.
The broadcast market was apprehensive regarding the move from on-premise hardware to cloud-based systems. Using software as a service (SaaS) video delivery approach, operators can increase their workflow efficiency, reduce their costs by eliminating hardware dependence, and speed up the market for new channels and enhancements to the existing services. The leading disruptors deliver their content on a SaaS model to their viewers. With SaaS, operators can avoid the complexity typically associated with hardware and multi-vendor workflows. These services are pre-integrated and managed by the technology provider, reducing pressure on the operators to handle complex media processing tasks and enabling them to focus on increasing subscriber engagement and monetization.
Owing to the uncertainties caused by COVID-19, the market is noted to be benefitted from an economic revival and the transition to IP and Cloud-based solutions. The industry has accepted new habits and ways of working that have settled for most broadcast and media organizations. Cloud infrastructure is anticipated to continue supporting remote workflows and reducing dependency on on-premises systems. For broadcasters, the pandemic has accelerated the adoption of distributed workflows for better operational agility. Broadcast professionals are leveraging IP streaming technology to collaborate with their peers, whether it is for remote production, remote collaboration, or any remote operation.
Conferencing tools like Zoom grew up globally, facilitating users to effectively conduct several virtual business meetings. For example, Microsoft saw a 500% increase in Microsoft Teams meetings in China after the outbreak. News broadcasting is already changing to the lockdown requirements of several nations, with several programs worldwide gathering experts’ input through many consumer video technologies. Broadcasting Technologies also enabled programs and concerts during the pandemic scenario.
North America is dominating the global broadcast equipment market during the forecast period due to increasing number of satellite and cable television channels, increasing adoption of OTT services and shift towards Saas. The North American broadcast equipment market was valued at USD 2 million in 2021 and is expected to value at USD 3 million by 2030 at a CAGR of 6%. Europe will account for the second-largest market share and was valued at USD 1 million in 2021, owing to the increasing adoption of IoT devices and OTT subscriptions, penetration of the internet, and investments made by local vendors.
Asia-Pacific is witnessing steady growth. Adoption of smart devices, OTT subscriptions, and the development of new radio stations will boost the market share. Latin America and Middle East & Africa will account for competitively low growth, with low-speed internet facilities and underdeveloped infrastructures.
The key players in the global broadcast equipment market are