The COVID-19 pandemic-led lockdowns made people spend more time on media and entertainment at home. This trend fueled the demand for broadcast and media technology. Moreover, accelerating on-demand content penetration and live video streaming increased the popularity of digital advertising. Evolving network infrastructure has also been driving the industry’s growth.
The global broadcast and media technology market stood at $41.40 billion in 2021 and is expected to reach $62.12 billion by 2027, growing at a CAGR of 6.9%. Increasing investments in technological advancements, the rapid adoption of next-gen linked devices, online content consumption, and enhanced customer experience should keep driving the industry’s growth.
