PUBLISHER: The Insight Partners | PRODUCT CODE: 1452511
PUBLISHER: The Insight Partners | PRODUCT CODE: 1452511
The North America live IP broadcasting equipment market is expected to grow from US$ 307.26 million in 2022 to US$ 822.63 million by 2030. It is estimated to grow at a CAGR of 13.1% from 2022 to 2030.
Advancements in IP Technology Fuel the North America Live IP Broadcasting Equipment Market
Live streaming is considered a form of broadcasting, with media intended for reception by the general public on a worldwide scale. It varies from other forms of online video viewing because video files are neither prerecorded nor stored before being transmitted to audiences. Thus, live streaming provides opportunities for a real-time interface between audience members and streamers. Live streaming is commonly used for professional sports games, conference and webinar presentations, social media events, and video gaming sessions. Over the last few decades, consumers' demand for better-quality audio and video has rapidly propelled the need for broadcast equipment products and technology.
With content produced in 4K and UHD formats, transmission in a similar format for enhanced viewing quality has accelerated the demand for IP live-production technology. Whether for remote production, remote collaboration, or remote operation, broadcast professionals leverage IP streaming technology to collaborate in real time. In January 2022, Magewell launched its novel Ultra Encode family of universal live media encoders, providing H.265, H.264, and NDI|HX encoding with multi-protocol support for an extensive range of professional applications, live streaming, remote contribution to IP-based production, and AV-over-IP. Further, at NEP Group's 2022 IBC Show appearance, it launched TFC Flow, a powerful and easy-to-use IP-based "DIVA" tool. TFC Flow offers complete control of intercom, data, and audio and video signal flow within a unified live event network. It is powered by NEP's exclusive, multipurpose control web-based platform, Total Facility Control (TFC). TFC Flow has the power and scalability of IP/2110 while removing the complexity that comes along with it, making network configuration fast, easy, and secure. Therefore, growing advancement in IP technology is fueling the North America live IP broadcasting equipment market growth.
North America Live IP Broadcasting Equipment Market Overview
The US, Canada, and Mexico are among the prime countries in North America. These countries are known as early adopters of digital technologies across the world. In May 2012, the Digital Government Strategy was launched to encourage the upcoming governments in the 21st century to focus on bringing digital revolution, alongside pioneering economic growth. In May 2020, the United States Agency for International Development (USAID) released Digital Strategy for development and humanitarian assistance in the world's rapidly evolving digital landscape. This digital strategy was built to strengthen various industries that are crucial for the economic growth of the region. In 2018, the Canadian Prime Minister appointed the country's first minister for digital government, which primarily focuses on strengthening the country's digital economy. In 2021, Canada announced its first digital government strategy to coordinate digital operations, modernize their IT systems, advance technology adoption, and improve service delivery. With the rising digitalization, consumers are more inclined towards adoption of live streaming services through their mobile phones. Due to which need for live IP broadcasting equipment is increasing in North America.
The global Media & Entertainment (M&E) Team of the International Trade Administration (ITA) has export offices in over 100 US cities and at 80 embassies worldwide, supporting the media and entertainment industry along with its clients with licensing and trade services to expand in international markets. The team helps enterprises from this industry expand their digital media, M&E production, live video games and e-sports, streaming, television, or broadcast segments. A robust media and entertainment industry in the US also supports the growth of this industry in Canada and Mexico with the help of the US-Canada-Mexico trade agreement.
The sales of live IP broadcasting equipment have increased in North America due to the surge in live streaming of sports, news, and events. According to The World Bank Group, internet users in the US rose from 91% in 2020 to 92% in 2021; in Canada, the number of internet users has increased from 92% in 2020 to 93% in 2021, while the number of internet users in Mexico has surged from 71% in 2020 to 76% in 2021. The growing number of internet users has fueled the demand for online streaming and real-time live content, which has further fueled the demand for live IP broadcasting equipment to meet the demand from consumers. Thus, a robust M&E industry fuels the live IP broadcasting equipment market in North American countries.
North America Live IP Broadcasting Equipment Market Revenue and Forecast to 2030 (US$ Million)
North America Live IP Broadcasting Equipment Market Segmentation
The North America live IP broadcasting equipment market is segmented into product type, application, and country.
Based on product type, the North America live IP broadcasting equipment market is segmented into routers and switches, transmitter and gap fillers, encoders and converter, video servers, antennas, amplifiers, modulators and repeaters, and others. The routers and switches segment held the largest share of the North America live IP broadcasting equipment market in 2022.
Based on application, the North America live IP broadcasting equipment market is segmented into broadcast production centers, broadcast stadiums, and outside broadcast vans. The broadcast production centers segment held largest share of the North America live IP broadcasting equipment market in 2022.
Based on country, the North America live IP broadcasting equipment market is segmented int o the US, Canada, and Mexico. The US dominated the North America live IP broadcasting equipment market in 2022.
include Belden Inc.; Cisco Systems, Inc.; Evertz; EVS Broadcast Equipment; Sony Corporation; Harmonic Inc.; Grass Valley; Ross Video LTD; AJA Video Systems, Inc.; and Imagine Communications, are some of the leading companies operating in the North America live IP broadcasting equipment market.