Advanced Television

Research: Strong recovery for B&M tech

April 17, 2023

IABM, the international trade association for Broadcast and Media technology suppliers and analysis and research company Caretta Research have released the first detailed sizing of the Broadcast and Media (B&M) technology market.

Caretta Research has evaluated the industry market size based on a review of the revenues and offering of around 1,000 vendors in the industry from 2018 to 2022. The data is split into detailed product sub-segments spanning the nine main pillars of the supply chain defined by the IABM BaM Content Chain.

Overall, the Broadcast and Media technology industry was much more resilient than expected during the pandemic, dropping by 1.9 per cent in 2019 and a further 1.9 per cent in 2020 before rebounding with 7.9 per cent growth in 2021, far surpassing the global average. The industry has now stabilised, with 1.6 per cent CAGR growth between 2022 and 2026 expected.

Key findings are:

  • The total market value of the industry in 2021 was $67 billion, up almost 4 per cent from the previous high of 2018.
  • The impact of the Covid-19 pandemic on the industry has been less severe than previously expected, with declines seen in both 2019 and 2020 amounting to a 3.8 per cent decrease on the 2018 market.
  • Much of the decline in 2020 and the subsequent rebound in 2021 was driven by the production and post-production services industries as the creation of new content was postponed until after the worst phase of the pandemic.
  • Provisional revenues for 2022 indicate the industry is maintaining broadly the same level as 2021; revenue recovery was strong in 2021 meeting pent-up-demand from the pandemic, which has now given way to more steady growth from 2023 onwards.
  • Overall industry growth will be around 1.6 per cent CAGR from 2022 to 2026, but many areas will grow at closer to 3-5 per cent CAGR, such as technology used to Create, Produce, Manage, Monetize, Support and Store professional media and broadcast content.

“The Broadcast and Media industry showed remarkable resilience throughout the Covid pandemic and moved to higher levels of growth,” noted Peter White, CEO of IABM. “The recovery in 2021 can finally be shown in data to prove much of the anecdotal evidence we’ve received over the past year. The data provided by Caretta Research is exceptionally well validated and the level of detail is very comprehensive so we’re confident in the market information we’re seeing.”

“From our daily conversations with technology vendors and buyers, we know how important it is to have good data about market sizing, competitors, buying trends and what products are actually being bought and deployed,” added Rob Ambrose, Caretta Research co-founder and managing director. “To outperform the market, it’s essential to base investment decisions on reliable and accurate data.”

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