Broadcast and Media technology market recovers strongly from the pandemic

IABM and Caretta Research’s latest global Broadcast and Media technology industry market sizing data reveals strong recovery from pandemic

LONDON — IABM, the international trade association for Broadcast and Media technology suppliers, and its exclusive data partner Caretta Research, the sector’s largest and most experienced specialist market analysis and research company, today released the first detailed sizing of the Broadcast and Media 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% in 2019 and a further 1.9% in 2020 before rebounding with 7.9% growth in 2021, far surpassing the global average. The industry has now stabilised, with 1.6% 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% 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% 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% CAGR from 2022 to 2026, but many areas will grow at closer to 3-5% CAGR, such as technology used to Create, Produce, Manage, Monetize, Support and Store professional media and broadcast content.

Peter White, CEO of IABM said: “The Broadcast and Media industry showed remarkable resilience throughout the Covid pandemic and moved to higher levels of growth; 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.”

Rob Ambrose, Caretta Research co-founder and managing director said: “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. To outperform the market it’s essential to base investment decisions on reliable and accurate data.”

The newly-released market sizing data will be available from the IABM Vantage™ Platform for IABM member organisations and from Caretta Research’s own live data platform, Caretta Portal.

The IABM Vantage™ interactive platform will present aggregated data delivered at all-industry, segment and sub-segment levels in line with the BaM Content Chain® (including top five vendors),and accompanied by insight reports from the IABM Business Intelligence team and the IABM’s extensive range of MediaTech business and technology reports. Market sizing data will, for the first time, be available to the small vendor business at very affordable prices.

Caretta Portal is the most detailed and usable database available for buying and selling broadcast and media technology. It provides product, sales, marketing and technology users with product positioning, deployments, competitor analysis of 2,000 vendors, go-to-market strategy, and account planning tools for 5,000+ buyers across 100+ B2B technology segments.

Together, Caretta Research and IABM provide the most complete set of market data for the broadcast and media industry with a joined-up product portfolio to appeal to everyone from executives to power users.