According to the new research report on "Live IP Broadcast Equipment Market Forecast to 2030 – COVID-19 Impact and Global Analysis," published by the Insight Partners, the Live IP Broadcast Equipment Market is expected to reach US$ 3.25 billion by 2030 and register a CAGR of 14.7% from 2022 to 2030.
Live streaming viewership boomed last year due to the COVID-19 pandemic. Stay-at-home regulations only augmented the growth of the existing live-streaming landscape, which was already a widespread means to engage with influencers, join virtual events, and watch sports and video game content. According to a report published by social media management solutions provider Sprout Social, from February 28 to March 4, 2020—before pandemic lockdowns in the US, 40% of US internet users wanted to see more live videos. Further, major players in the Live IP Broadcast Equipment Market such as Twitch, Facebook Gaming, and YouTube Gaming have carved out their powerhouse subsection of live streaming. In Q2 2021, individuals worldwide (excluding China) spent a collective 9 billion hours watching live-streaming video game content, spiking from 3.8 billion hours in Q2 2019. Further, Twitch generated an 83% growth in viewership year over year, and YouTube registered watch time on gaming live streams exceeding 10 billion hours in 2020. Thus, this is helping Live IP Broadcast Equipment Market grow.
Platforms including Apple TV+, Amazon Prime, and Paramount Plus have already ventured into the live-streaming segment. In June 2023, Netflix announced to live-stream its first-ever sports event, a golf tournament. The golf tournament is anticipated to be hosted in Las Vegas, the US. In July 2023, European Para Championships organizers partnered with Staylive to create an over-the-top (OTT) platform for the multi-sport event, for which registration is free. Selected finals will be streamed live on the Olympic Channel via Olympics.com. A comprehensive survey of The State of Global Streaming in 2020 by Payoneer, a financial services company, highlighted that the live-streaming market is expected to grow to US$ 184.3 billion by 2027. Therefore, the surge in live gaming and sports broadcasting is boosting the Live IP Broadcast Equipment Market growth.
The availability of high-speed internet connections, such as broadband and 4G/5G mobile networks, is expected to play a vital role in enabling seamless streaming experiences. According to Cisco Systems, North America will likely have the highest internet adoption rate during the forecast period, followed by Western Europe. Faster internet speeds aid in reduced buffering times, smoother playback, and the ability to stream UHD and HD content. It is expected to significantly enhance the overall user experience and contribute to the growing popularity of live-streaming services during the forecast period. Therefore, growth in 5G infrastructure and increasing adoption of smart devices are expected to supplement Live IP Broadcast Equipment Market growth during the forecast period.
The growing demand for live streaming channels and constant developments in OTT cloud-based services are anticipated to catalyze the Live IP Broadcast Equipment Market growth. In April 2023, Google announced to bring together over 800 live streaming channels, including news channels from NBC, CBS ABC, and Fox, into a novel guide in the Google TV interface. Further, the growing requirement to optimize network bandwidth and surging consumer base for live streaming content are expected to supplement the growth of Live IP Broadcast Equipment Market during the forecast period.
Key Findings of Study:
The Live IP Broadcast Equipment Market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America (SAM). In 2022, Asia pacific led the market with a substantial revenue share in the Live IP Broadcast Equipment Market, followed by North America and Europe. Asia Pacific is expected to be the fastest-growing market for live IP broadcasting equipment during 2022–2030. The projected Live IP Broadcast Equipment Market growth in this region is attributed to the proliferating economies in the region, the increasing adoption of digital media, and the rising demand for high-quality live content. Additionally, the demand for high-definition (HD) and ultrahigh-definition (UHD) content is growing rapidly with growing consumer preference for a superior-quality viewing experience. Live IP broadcasting equipment is essential for the delivery of HD and UHD content. The Live IP Broadcast Equipment Market in North America is growing at a significant pace due to the high adoption of new technologies in the region, the presence of many broadcasters, and the growing demand for high-quality live content. In 2022, Grass Valley announced the launch of its Karrera X multiviewer, which is designed for live IP production. Further, in 2022, Ross Video announced the launch of its DashBoard live production automation system designed for IP-based workflows.
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