Good morning. Happy to see all of you here on this Investor Day online, and happy to see that many of you here online. And I'm happy to be here today together with Veerle and Benoit, who will animate the session today. So I look forward to the next one hour and a half to further share with you an update on our strategy and the progress that we are doing. Veerle, you will guide us through that typical disclaimer.
Yes. So this presentation contains some forward-looking statements. These statements are a reflection of EVS' current beliefs and do contain a number of risks and uncertainties that could materially impact our projections. These risks are linked to uncertainties related to technology, market dynamics, impact of inflation, also potential pricing pressure, et cetera, et cetera. EVS takes no obligation to publicly release any revision to these forward-looking statements should any of these events occur.
Good. Thank you for that typical disclaimer introduction, Veerle. So let me take you through the agenda that we have prepared for you today. So we'll go first with an EVS intro. We'll talk about our corporate strategy. We'll talk about the major summer events and the M&A transactions that we have done up so far this year. We'll talk about market dynamics. Then we'll talk about an update on our solutions being LiveCeption, MediaCeption, and MediaInfra. And before doing the closing, we'll have a specific focus on generative AI and how we implement that to further increase the value of our products and solutions. So let's start indeed by that short introduction about EVS. 30 years. We celebrate indeed 30 years this year.
EVS was indeed created in 1994, and we feel that after 30 years, EVS has never been so much in good shape as today. So we're really quite happy with the progress that we're making, and we look forward to celebrate many more years with you and with our customers over those next years. So who are we? What do we do? And why do we do that? So in a few words, who are we? Well, we like to say that we are a leader in live video technology for broadcast and new media productions. What do we offer to our customers? Well, those are solutions to do replays and highlights, video assistance, asset management, routing, and Media Infra structure. And why do we do that? Well, I'll jump to the next slide immediately. We like to say that we create Return on Emotion .
We create emotion for billions of people every day thanks to the technologies that our customers are using every day worldwide. So we're quite proud of this mission, and I trust that you recognize effectively that all of you indeed probably on a daily basis have emotions being created by looking to any type of screen. And remember, quite some of that content has been created with EVS technology. What are the markets that we serve? Well, we see three major types of customers. We have, of course, the historical customers being the production facilities and the service providers. We have sport and event organizations, and we have more and more broadcast and media network customers that we are servicing on a worldwide basis. When we further look to how we are showing those different customers and different families, you've seen us using those different family descriptions.
The first one is the Live Audience Business . Those are broadcast and media networks together with sport and event organizations. What do they have all in common? They are creating content for their own purpose. That is our Live Audience Business or our LAB market pillar. The other major market pillar is our Live Service Providers . Those are customers that are serving those LAB customers. Those are typically companies that are operating trucks for doing live production at live events. Last but not least, we have a third pillar, which we call our BER, our Big Event Rental. Those are the revenues typically that come from those non-yearly Big Event rentals. Typically every two years, there are some major sporting events during which we are renting equipment, and that is generating additional revenue.
To then see a few of those customers, we have on the next slide an overview of who they are. You see a few of those logos that we serve every day all around the world. When you see the type of customers that we have in our industry, we can definitely say that we are supporting tier one type of customers all around the world, be it in North America and Europe, Middle East, or in Asia-Pacific. So we're quite proud of this high-level list of customers, and this is only part of them, of course, that we are serving worldwide. Important to note, of course, looking at the next slide is the fact that we are powering the world's biggest live sporting events. We do that since 1996 for the Olympics in Atlanta.
We've recently done that also in Paris, and we'll come back on Paris in a few slides. For the World Cup and for the Euro, we've been there since 1998 and France in 1998, and now recently this year as well for the Euro 2024 in Germany. But not only those big events are using our technologies, also big events like the Super Bowl in the U.S. are using yearly, of course, EVS technology to bring the highest level of emotion to the screen. So when we see where we are at this moment in TAM on that next slide, we see that today, at the end of 2023, we had more than 34 nationalities within EVS. We have our headquarters, of course, in Belgium and Liège. We have more than 18 offices across the globe. Revenues at the end of 2023 were ending at EUR 170 million.
We had over 600 team members, and we expect that this year with the growth and the acquisition of MOG, we'll be close to 700. We've been ending the year last year with a strong profitability of about EUR 41 million in EBIT, and as you know, we are publicly traded since 1998. When you look to our global presence, and that is in line with our strategy of customer intimacy, you see that we try to be as close to our customers as possible. You see that we have offices around the world, and you also see that those offices where we do research and development are located in Western Europe. I'm happy to say that indeed this year we've been adding one additional country or one additional office in Portugal through the acquisition of MOG Technologies, but Veerle will talk more about that later on.
But the point is indeed that we try to be close to our customers in order to give them the best possible service, and that is also what we are being recognized for. Going to the next slide, I'll give the floor to Veerle.
Yes. On this slide, you will see the revenue evolution of EVS ever since its creation in 1994 all the way up to 2024. Actually, that revenue evolution, it has known a couple of different phases throughout the different years and time. The first phase was really in the introduction of revolutionizing technology in the industry when we introduced our replay, which actually allowed live and loop recording and was really a big breakthrough in the industry. It started off really well for EVS, and within a period of around 11 years in time, we were able to grow the revenue up to 50 million. This was really the first phase, the startup phase of the company up till 2005. Next came the introduction of high-definition workflows.
This is where the company really was able to scale up, scale up in a timeframe of about seven years all the way up to EUR 138 million, and this was a very nice period of growth as well for the company. In 2011, actually, one of the co-founders and the CEO co-founder left the company, and this actually started a more difficult period for EVS. We call it always the phase where we were a little bit hesitant. I believe that we can argue that that seven-year period actually was marked by four different CEOs that succeeded one after the other, which obviously had quite some changes when it comes to long-term strategy, vision, et cetera.
It was also the period where we introduced 4K and IP when we saw that those technologies had an adoption that was a little bit slower than the previous technologies that were introduced into the market. In 2019, we have our CEO, Serge Van Herck, who joined the company, and this is really the start of a new phase for EVS. We call this phase the phase where we focus on growth. A lot of work has been done at the basis where we redefined actually our vision, our mission, our ambition, our strategy, but also our foundations of our company, and this is really what we believe is changing the objective for the company. Obviously, 2020 was still a difficult year for EVS. It was a COVID period where we had limited live events.
But as from 2021, we have seen the revenue grow year after year to actually EUR 138 million in 2021, equaling our best period ever of 2012 to EUR 148 million in 2022, and even to EUR 173 million in 2023. This EUR 173 million in 2023 was quite remarkable because it was a year where we demonstrated growth without benefiting from big events. So this was actually the proof point for us that our strategy was starting to work. For 2024, we issued a guidance between EUR 119 million and EUR 200 million, again, continuing our growth, growth both coming from big event rentals, but also continued growth of our base business. And we recently announced that we will rather enter the high-end range of this guidance, so closer to the EUR 195-200 million. We go to the next slide.
We have a couple of main driving strengths that we really consider to be at the basis of our strategy. First of all, we really have solutions that are shaped for the live production or live broadcasting. It is critically important for us to focus on that live emission. This is a condition where customers require the highest reliability and the highest stability that our solutions can actually offer. And this is also where we are actually capable of requesting premium prices for our solutions because of that high reliability and stability needs for our customers. One of our driving strengths is also the solid partner landscape that we have built throughout the years. That partner landscape is actually helping us in transforming the broadcasting business, but it's also actually helping us to reach customers that we would not reach traditionally with our sales force.
Another driving strength is our customer intimacy, but also our focus on user experience. We put the content creator at the center actually in all our strategy. This is critically important for us, and we will get back to that. We also have a lively, responsive, but very quality customer support. Again, our customers, when they require support, they are generally operating a live production or close to operating a live production, and they really require that high customer support that we systematically offer to get them on air and deliver the quality to the public that they are used to deliver. Finally, as a company, we really focus on practical innovations that we push into the market that are actually addressing the most gripping and demanding needs of our customers. Again, a testimony of our customer intimacy where we focus on what really makes the difference for our customers.
Coming back to that user experience, you will have to know that we have a very specific situation as EVS. We are supported actually within the industry by more than 7,000 operators called EVS operators. Those are operators actually creating live content. We call them artistic creators, and they actually want EVS solutions to create their content. These solutions provide them the best reliability, reactivity, and it allows them to create the best art possible at an instant rate. So for us, those are actually sponsors, and they're a very sticky brand for EVS in the market, definitely playing an advocate for us. As EVS, we're also known in a broadcast market as having a very holistic ESG approach. ESG is really embedded into end-to-end strategy and our operational business model. We focus on ESG in different angles.
First of all, we definitely want to minimize the impact of our solutions on the environment. We do so by facilitating remote workflows, but also introducing hardware virtualizations that reduce the need for energy consumption, and we also make sure that we design our hardware in such a way that we optimize power consumption. Next to that, we definitely want to put forward a sustainable workplace. We have lots of solar panels, especially headquarters, and we have more than 100 electric vehicle charging points. We actually repurpose rainwater to function for cooling, so it's a very interesting and sustainable way of cooling our offices. We have introduced an electric fleet since 2023, and we expect to be carbon neutral with our fleet by 2026, and we focus a lot on diversity and implementing top employer practices throughout the world. A next angle is a more sustainable supply chain.
Obviously, when we talk ESG, this is not only internally and for us towards our end customers, but we also want to make sure that our supply chain and therefore our suppliers are having sustainable policies. This is a huge focus item for us, and we want to make sure that we work with sustainable label materials. Finally, as a company, we feel like we have a great social responsibility. We promote charity days for all of our team members. All of our team members can also participate in a sponsorship program where they can donate annually some funds to sports organizations or to local organizations. We have in the world some EVS ESG ambassadors generally linked to sports. They promote the EVS brand with a very much ESG ambassador mindset. Obviously, we think our GDPR compliance is extremely important, and we take that very seriously.
Our ESG approach has actually been recognized within the market. We are rated on a systematic basis by both EcoVadis and Sustainalytics. For EcoVadis, we have confirmed our silver medal in 2024. Rating is in the top 15th percentile of all the companies working on ESG. Also from Sustainalytics, we reconfirmed our low risk rating, ensuring that we as a company have a low risk when it comes to ESG footprint.
Good. Thank you, Veerle. So that concludes a short introduction about EVS. And so let's continue here with our corporate strategy. In 2019, and when we developed our corporate strategy called Play Forward, and we already also clearly defined our big, hairy, and audacious goal to become the number one solution provider in the live video industry by 2030. So that was already the ambition that we put on the table at that moment in time and that we feel that we are well on the way to be able to achieve. So EUR 350 million revenue by 2030, that's our objective. When we talk about profitability, next to that, we also intend to continue to deliver above 22% EBIT margin. So that's clearly also our ambition to continue with profitable growth over the years to come.
When we talk about strategy overall, we've been evolving from a company that is focusing on leading replay-centric products in a premium market to more optimized media solutions. And we're really living towards a live production ecosystem in multi-tier markets. That's definitely the journey that we are on at this moment in time. We see that several elements are also evolving over time. Of course, the fact that CapEx only for certain customers are demanding sometimes also OpEx-related offers and on-demand activation of certain capabilities. So we are in the transition. We are not pushing hard for the transition one way or another. We are following our customers in their journey to go from one to another. And still a lot of customers today are expecting a CapEx-only solution.
From mainly being active and present in OB vans, so in those trucks, in those outside broadcast vans, we are definitely growing in the broadcast centers. That is something that we see now for a few years happening and that we continuously expect to happen over the years to come. Evolving from EVS hardware only to more and more software and even to software as a service is a natural evolution of our product and solutions or an extension of our product portfolio that is indeed taking place at this moment in time. And last but not least, where initially we were mainly focusing on sports, we are definitely adding more and more entertainment and news type of customers. And we'll show you a few examples of that later on.
We're also going more and more into the digital environment to help our customers to produce that live content for different digital channels. Our DNA is all about customer intimacy. There is a strategy or sorry, there is a theory that says to be a leader market leader, you need to select one of the three main elements being product leader, customer intimate, or operational excellence. For EVS, it's about customer intimacy. Of course, we use a lot of technology for doing that. We also make sure that our operational excellence is answering at the Olympic minimum with our true focus. What our customers appreciate most is indeed our customer intimacy, which means that indeed we understand their environment, we understand their workflows, and that we are providing them with end-to-end solutions that meet their expectations indeed.
So when we look to that customer intimacy, I think that throughout 30 years of existence, we can definitely say that we have a proven customer intimacy strategy. We see that, of course, in a great Net Promoter Score, and we'll show you some details about that later on. We have definitely an outspoken culture and DNA that is very customer-focused. We know that a customer has a problem and when he needs to go live in a few hours, that he needs all our attention to be able to go live at that moment in time. We have for our channel partners also a certification program in place, which is definitely further increasing the competence and the knowledge about our products with channel partners worldwide. And last but not least, as Veerle already said, we have a loyal and very engaged operator community.
That's definitely one of the major differentiators that help us indeed to further support our growth worldwide. Our Play Forward strategy was also a strategy of doing the right things in the right way. So in the meantime, we have built a strong management team. As Veerle said, there has been a period where we had quite some changes in the management team, but also in the board construction. So we definitely see that over the last years, we've been able to bring quite some stability in the teams, and that definitely helps us to deliver on our strategy. We've also seen the effect on our team members. We see that they are quite engaged. We see very positive results after 2019 going up. So we're quite proud to see that quite some colleagues at EVS say that we are a great place to work.
And last but not least, we've tried to implement best practices throughout those years by implementing a new ERP, by implementing a five-year business plan, by implementing ESG, of course, as you have seen, and by implementing quite some other elements. And we all think that they will help us to further scale the company over the years to come. One of those activities on the next slide is indeed growing our channel partners worldwide. So we're quite happy with the progress we've been doing with that over the last years. We'll show a nice example recently of an important order we received from a channel partner in North America. So that is really helping us further fuel our growth. They help us to sell solutions, but also help us to implement solutions because our solutions become more and more complex.
There's more and more need for certified partners who can help our customers doing the needed change management and the implementation of our technologies. Another key element in our strategy is further strengthening our position in North America. We know that market growth and market potential in North America is quite big. And therefore, we've been working hard over the last years and still today are working hard to further strengthen the team. We recently announced the introduction of a strategic account team that we have set up in order to be able to focus on those large strategic accounts. We've put quite some focus on growing our U.S. channel partner policy and strategy, and we are quite happy with the progress we're making there. And again, we'll show an example later on of what this means.
We've been hiring quite some talents effectively to grow the team in North America. We're now close to 50 colleagues in North America, and we expect that to further grow in the years to come in line with the business that we see growing in North America. When we look to our time evolution, so the total addressable market, we have made here a slide that gives you an overview of how we see things and the evolution throughout the years of where we were in 2015, where we were in 2022, and where we're heading to in 2030. This is based on some of our analysis that we've been compiling using different external studies. To go back in 2015, you see that the focus was on replay solutions for Live Service Providers and sport-focused LABs. That was definitely where we were in 2015.
So that gave us a certain total addressable market. Throughout the years, we've been successfully expanding in Media Infra structure and asset management solutions, mainly for live audience business. And that helped us to increase our TAM to EUR 1.3 billion. And for the future, definitely, we see that in those current markets, we see some growth. It's a relatively modest growth. But on top of that, we definitely would like to further extend our product portfolio and our solution portfolio by own product developments or by acquisitions. And that should leave us, or that should bring us indeed to a higher TAM. Here you can see an example of about EUR 3.5 billion, supposing that we would be in those different TAMs where you see cameras, audio graphics, and others.
So all in all, the key message here is that we continue to look at acquisitions to further extend our product portfolio and to further extend the time that we are able to serve with our solutions. When we go to the next slide, you'll see in fact what we've been doing throughout the years. And we like to call that a unique and repeatable land and expand value creation formula. So it all started, of course, with LSPs, those Live Service Providers and their OB vans. That's our historical stronghold on replay technology for OB trucks. That is where it all started. We've been moving gradually throughout the years to Live Audience Business customers who had also OB vans, of course. So those OB trucks and OB vans were a natural evolution for EVS.
And we've been able to further also grow into stadiums, for instance, or in studios who are also using this sort or applying sport technologies. Next to that, in the next step, we've been expanding in those labs with new technologies like, I'm sorry, I'm the wrong arrow here. We've been rapidly expanding, of course, to the big events and using our LiveCeption solutions and big events. And with the further development of new solutions and the acquisition of MOG, for instance, we've expanded our MediaCeption and MediaInfra application for big events. So that was the next step in our evolution. The next one was indeed making sure that in the sports studios and OB events, we introduced MediaCeption and MediaInfra. And we are building on our reputation, and that means cross-selling to existing customers, which is happening quite well.
Our next evolution, of course, was in those OB events. Now we are also introducing more and more Media Infra structure solutions. So that is also for us a potential of growth in those LSP environments with Media Infra structure. So that's indeed showing an overview of that land and expand strategy. We hope in the future that by adding more technologies and expanding our team, we'll be able to further increase our revenues and further cross-sell in those different customers because we definitely see that we are quite successful, for instance, with the acquisition of Axon that we've done in 2020. So going further in those acquisitions, I'll leave the floor to Benoit to give us some further detail on what we plan to do or continue to do in the future with those acquisitions. Thank you, Serge.
So we are considering here on this slide the criteria that we use to evaluate which kind of acquisition we want to proceed with. And as used for the acquisition of Axon in 2020 and MOG this year in 2024, and as well for TinkerList investment, we focus on the following targeted synergies. First, we want to leverage shared customer base based on the sales synergies. Second, we want to expand and enhance our portfolio with new and improved solutions. And third, we want to integrate expertise synergies, which is very important for us to bolster innovation and capabilities. And in order to achieve that, we are targeting the following companies. We want to integrate companies with affordable size for seamless integration. Second, we want to share our future with companies having the same DNA, the same DNA of customer intimacy as described previously by Serge.
And we want to work with aligned and focused teams. So together, we want to create a big growth after synergies and, of course, leverage cost efficiency when it is applicable to add further value. So we are looking for acquisitions or strategic partnerships in following areas as AI treatments, audio, automation, graphics, image capturing and framing, cloud components, and much more in order to extend our reach and actually to strengthen our solutions portfolio. Thank you, Benoit. So we have quite some work there, quite some opportunities to further look at and expect us indeed to continue our acquisition strategy over the years to come. So what happened in 2024? Let's have a look at those major summer events and some of the M&A transactions that we've been announcing. And Veerle, I'll ask you indeed to guide us through what we've been doing during those big summer events.
Yep, I think 2024 has effectively been quite eventful, so we'll just make a summary of some important elements of this year, and as Serge was already mentioning, actually part of our land and expand strategy is to make sure that we grow our content within the big events. I think Euro 2024 has been very successful in that objective. You have to remember that big events are for us the way to showcase all of our solutions. It is a context in which a lot of broadcasters worldwide, nearly all broadcasters worldwide, actually connect to the IBCs and the content that is created by those big events, and it's a showcase or a storefront actually of all of our technologies, so for us, those big events and being present there with all of our solutions is critically important.
We are happy to say that at the big events of this year, we have been able to position all of our solutions actually within those events. We have had our LiveCeption that was actually central in all of the venues and the IBC for every live replay and all the highlights that we have made. We did all our file-based ingest and advanced logging at the IBC with our MediaCeption solutions. The big breakthrough this year was the presence of our MediaInfra solutions, actually ensuring all the contribution and the processing from the venues. And actually, we had a central video storage allowing the longer-term storage of content at the IBC with XStore, which was then actually distributed thanks to MediaHub to all the rights holders actually.
So we had more than 100 rights, media rights licenses that were connecting to the system and that were fetching content from those big events. So for us, a very big, well, footprint, we would say, and definitely a way to realize our growth strategy also for the big events that are at the basis. A second event in 2024 was our way of expanding actually our footprint. So we realized two transactions this year that will support the growth of our time and will support our growth in the future. First of all, it's the full acquisition and integration of MOG Technologies. MOG Technologies is a Portuguese company based in Porto that was founded in 2002 and is actually active in everything which is video and media technology, providing software and cloud solutions to broadcast and over-the-top platforms.
We have 47 team members in Portugal, and we realized a little bit less than EUR 4 million revenue in 2023. The full acquisition of the company cost a little bit less than EUR 5 million, including an important earnout. And we definitely see MOG as an enhancement of our MediaCeption solution, also enhancing our channel partner landscape in this area. We do see Portugal as well as an interesting place to hire Portuguese talent. They have very high-skilled technology resources that can help us grow into the future as well. So we're very happy to complete this acquisition, and we're fully working on the integration of MOG Technologies within EVS. Next to MOG Technologies, we also announced a minority investment in TinkerList. TinkerList is actually a Belgian-based company located in Leuven and founded in 2014. They have around 24 team members all around the world, really distributed workforce.
They actually have a lot of expertise in web technologies and automation of workflows. They do a little bit less than EUR 4 million revenue in 2023. We definitely think that thanks to associating TinkerList to the EVS brand, we will allow them to grow and ensure a full worldwide presence into the market. We will fully embed TinkerList inside EVS solutions, whilst also allowing TinkerList to remain fully autonomous and apply an entirely software as a service go-to-market strategy for all the media productions. It goes beyond the pure broadcasting. It covers actually all media productions. I think TinkerList; we have definitely been also seeing some news already from there. At the IBC in 2024, they also announced a new control room control system, which was completely new in their portfolio.
It is on top of the rundown editor that they already had and that uses actually a general-purpose production. TinkerList now introduced Stories. That is a fully cloud-based story-centric solution to simplify actually the role of the journalists across the media world. With this, we do believe that there are a lot of integrations which are interesting between TinkerList and EVS, and we will further develop those integrations with the traditional certified NCR and NRCS partners as well. And I think, Benoit, you'll perfectly be capable of explaining how these two acquisitions actually complete our footprint within the broadcast center. Thank you, Veerle. So as we walk through this workflow focused on news here, we have a picture of a newsroom. In fact, we can start by showing the position of our XT and XS servers in the production control room.
These equipment enable fast turnaround of ingest and playout for live and prerecorded content. Now we can see the VIA MAM, in fact, which supports every step of the content handling for ingest and media management to editing and digital publishing, ensuring seamless workflows. We can see the Neuron View, which acts as a production multiviewer, providing the crew with real-time access to all incoming and outgoing feeds with minimal latency. The Strada solutions built on Neuron and Cerebrum efficiently managing the routing in complex production setups. We have the Neuron applications, which are handling SDI and IP stream processing to ensure smooth compatibility across various formats. We also see here Cerebrum, which serves as the overarching broadcast controller, managing the configuration and monitoring the entire production ecosystem.
So when we speak about the acquisition in purple on this slide, then we see MOG, which enhances the file workflows and all the overall file management capabilities, and then we see as well TinkerList CUE and TinkerList Stories, which provide robust playout automation, simplifying the newsroom operation, and TinkerList Stories empowering the journalists to write, edit, and publish their stories seamlessly, not only on TV, but also on the diverse media, so altogether, these components demonstrate how EVS can deliver a fully integrated and future-ready solution for modern news production, but this kind of ecosystem can also be replicated and adapted for other kinds of productions. Thank you, Benoit, and I think to end the events of 2024, we have some financial update as well.
We believe that we have been generating a very strong cash flow since the beginning of this year that is allowing us to ensure an important return to our shareholders, so we are delivering actually a strong top-line performance. In the first three quarters of the year, we saw quite a lot of improving profit margins that are actually demonstrating our pricing power and ability to increase the portion of software in our solutions, and we have control even though we see our expenses growing. It is in a controlled and phased way that they are growing, ensuring actually that we continuously generate an EBITDA margin that is in line with our business model, which is around 22% EBIT return.
This is driving actually a strong earnings per share and also a very solid operational cash flow, which results in allowing EVS to both confirm our dividend policy for 2024. We are targeting, as per the policy announced, EUR 1.1 per share, of which EUR 0.5 per share has just been paid last week. We also announced overnight actually a share buyback program, which is worth EUR 10 million over a period of two years. As mentioned, it is based on the fact that we have strong cash flow generated in 2024, combined with a current share price for which we believe that there is potential in the future. Thank you, Veerle and Benoit.
So let's go forward here with market dynamics, an important paragraph so that you can understand what are those market dynamics and also what we expect to have as a market share today. And then the next slide or in the next chapter, we'll talk about the future of that market share. But let me first start here with Benoit, who will give us an update on that market evolution. Thank you, Serge. So we describe here the six key dynamics shaping the environment in which we operate. First, we are witnessing a growing supply of live events. As audiences demand more real-time and immersive experiences, the volume and complexity of live production continues to expand, creating a need for scalable, reliable, and innovating solutions. Second, there is a shift in the client landscape structure. The media organizations are evolving. They are consolidating.
They are adopting new business models, which means our ability to adapt and align with these changes is more critical than ever. Third one is the change in operating model. In fact, our customers are redefining our production team's work, whether it's through remote workflows, hybrid setup, redistribution of production roles. So our customers are demanding more flexibility and more efficiency. Then all of this is supported as well with new technology trends, which are driving the transformation. From AI to IP-based workflows, these advancements are unlocking exciting opportunities for creating and delivering content. Then we have also to take into account the changing macroeconomic context, including the financial uncertainty for geopolitical shifts and the inflation, which requires businesses like us to remain fully agile and proactive in the way that we address all these possible external pressures.
And last one, as already highlighted by Veerle, the ESG considerations are fully relevant for our market and are increasingly important for the business decisions of our customers. And at EVS, we are committed to sustainability, diversity, and responsible innovation. All these forces are shaping our strategy, our solutions, our way to operate. And by addressing them really in a proactive way, we want to lead the way to navigate this complex landscape. If we go on the next slide, then we can observe that actually all the industry transformation in which our customers are considering for their future and to support their transformation. And we can see highlighted in blue on this slide that EVS is very active on a lot of these concerns and a lot of these opportunities that are currently being considered by the big broadcasters as the most impactful for their transformation.
We can see here that EVS is, of course, active in IP networking, in artificial intelligence, in automation, cloud, and virtualization. We can also consider that EVS is pioneering the industry for cybersecurity, generative AI, as we will see later in this presentation, and also for carbon footprint reduction. That's for the technologies. If we move on the next slide, we can see that in terms of the solutions, in fact, if we consider on this schema proposed by DPP, which shows on the horizontal axis the future investments and on the vertical axis the current investments, we can see that our solutions, LiveCeption, MediaCeption, and MediaInfra are very well positioned to deliver value on the different areas for media organization.
We show here that we do sane and safe investment for the future of the industry and especially for the future of our customers. Thank you, Benoit, for that clear overview. That brings me to the next important slide, which gives us an overview of market shares and total addressable markets. We've been working hard on further analyzing studies and bringing numbers together in order to better understand what is our current market share with our different products in those different environments. What you can see here is indeed the result of that analysis. On the left-hand side, you see a total block which represents $1.27 billion as a total TAM. There you can see that EVS, we have somewhere in our market share of 8%-10%. How do we come to that?
That's by looking at the right-hand side at the different markets, the different lens, and the different market shares we have in those markets. To give you a better understanding, if you look to the bottom line, you see replay, production switches, asset management, so our MediaCeption solution, and Media Infra structure, our MediaInfra solutions. You can see where we are in 2022 when it comes to revenue and to market share. Clearly, you see that for replay, we are number one, no surprise. In that environment, we have a market share of 35%-40% in 2022. Veerle will talk later on where we are at this moment in time and how we see that evolving. For asset management, so with MediaCeption solutions, we see a market share of 9%-10% of a market of EUR 510 million.
So this is already something to note that the total addressable market here is quite bigger than the total addressable market for replay solutions. So there with MediaCeption , we have that 9%-10%. And last but not least, for a market that is slightly bigger than the MediaCeption market, with the Media Infra structure, we are somewhere in a market of $530 million. And there our market share is even smaller, 3%-4%. So I think that gives you already an indication of what we hope we will be able to do in the future. But I'll leave it to Veerle and the next slides to further explain how we see our market share increasing in those different environments, those different markets.
Because as you can see in the title of this slide, it says indeed that we as a major player are gaining market share versus competitors who are defocusing from the premium broadcast market. So definitely, we see our growth coming from the growth of the market, but even more from market share gain compared to some of those larger players that you see here. If you look on the left, we are number four behind Evertz and Avid and Grass Valley. So those are typically the companies which are ahead of us, and when we talk about 2030 becoming the number one, that tells you which ambition we have. When we go to the next slide, we see an important measurement. You've seen that before. I think that's our Net Promoter Score that we are measuring through Devoncroft.
That's, of course, a neutral and external study that we are checking every year to see how our Net Promoter Score is evolving. We are proud to say that we are the only company in our industry with three subsequent years of NPS growth. That is definitely a very nice achievement, and that shows that customers are really appreciating the quality and the breadth of the solutions that we bring to the market. We see some of the other players who are further losing ground, who are losing NPS, and especially some of the big ones that we are focusing on have quite bad NPS figures. That definitely shows us that our customers are knocking on our door indeed to switch over in the next years to switch from vendor.
So this is helping us on this NPS together with our product portfolio that meets expectations of customers better than some of our competitors, clearly. That is helping us to continue staying very bullish for the future. Going forward, let's talk indeed about some of our solutions. So LiveCeption , MediaCeption , and Media Infra structure. And I'll ask indeed Benoit and Veerle to help me. But let me start here by LiveCeption , live production, replays, and highlights. That's the focus of our LiveCeption solutions. You'll recognize some of our products that we have, like some of our XT servers , our LSM-VIA here to do that IP-based replay experience. Quite some software solutions also to do that seamless file transfer and archiving of assets, of video assets. And last but not least, of course, those generative AI-based solutions of XtraMotion that we bring to the market.
Veerle. Yeah. Within LiveCeption , our primary goal is to protect our leading position in the market. We don't want to do so by offering differentiation and introducing new business models. Our TAM is sized at approximately EUR 160 million. Do note that compared to previous analysis, we have been taken out a TAM link to production switchers for which we do not offer a solution. That market is expected to hardly remain flat over the next couple of years, meaning that there is no real growth expected. But what we do see is that we have been able to gain market share in this segment despite the fact that we were already a leading position in this market. We now demonstrate a market share that is around 45%-50%. Remind that in 2022, we were around 35%-40%.
So we do see that we're still gaining traction there. We expect limited market share gain in this segment, though we do still see some opportunities linked to competition moving away from this space. For instance, Grass Valley is moving away from these tier one LiveCeption productions because they're actually focusing 100% on cloud-based solutions, which is obviously not something that tier one customers are appreciating. And so they're looking for alternatives still. So no huge market share gain here expected in a market that is largely flat, though there are some small opportunities if we look at our competitive landscape. Yes. And talking about innovations, Benoit. So in terms of innovations, we have introduced the LiveZoom feature, which is completely integrated into the LSM-VIA replay system.
This LiveZoom feature empowers operators to zoom into a 4K picture, specific area of the replay to generate a full HD picture with full quality, providing enhanced storytelling tools for live sports, for entertainment production, so that you can, for example, zoom on the action on a football match, or you can zoom especially on the role of a specific player. Next to that, we have also introduced a new XT-VIA licensing model, which offers a new level of flexibility. With just one server, the client can operate in three production modes, allowing seamless scaling for small to large productions across live sports and live entertainment. This will help EVS to be more competitive for smaller customers who can then use premium-grade solution components in a tier-two production and later in the day use the same solution component for a full-feature premium production.
Last, we also added some new effects on XtraMotion. We will describe these effects later in this presentation. This includes cinematic effects and de-blur capabilities. And we are also working on new effects as auto-cropping for the vertical screens 9 by 16 so that we can publish easier on social media. These are the three innovations that we want to highlight here. But all these innovations are also used in practical use cases. Yes, thank you. And let me take indeed one of those use cases. You've heard Benoit talking before about more and more productions, live productions being done and also going into more tiers. So this is a nice example. We're talking about the Premiership Women's Rugby. And this is the top-tier Women's Rugby Union in England, which is featuring nine clubs competing in a round-robin format.
It's clear that this league aims to provide a competitive platform for elite female athletes and has been instrumental in elevating the standard of women's rugby domestically. TNT Sports, some of you will remember that was BT Sport before, has been playing a pivotal role, of course, in broadcasting women's rugby in the U.K. The network has further committed to an extensive coverage of those matches with over 40 games streamed live during the 2023-24 season. Last but not least, with Limitless Broadcast, they are operating here from a state-of-the-art remote production hub in Woking in the U.K. They're using our large solutions, LiveCeption solutions, of course, to do so. They do that in two large production control rooms and the multifunction room that houses the remote television match official in this case.
A significant innovation on their side was to introduce also EVS XtraMotion, our generative AI-powered service that transforms any camera into a super slow-motion camera. So we're really quite proud of such a reference case where we see indeed new sports coming indeed on air, and that indeed shows that the trend that more sports, more events are being covered with our technologies. Going forward, MediaCeption , an important growth engine for us, of course, live production asset management. And there you will find different solutions ranging from flexible multi-feed and multi-format ingest to end-to-end SDR, HDR workflow management in order to access, manage, edit, and share from anywhere, and that integrating with major editing suites. So I'll have Veerle again talking us through the market share and TAM evolution. Yes.
The MediaCeption market is a market where we do expect to increase our market share over the next couple of years. We want to focus on the Live Audience Business and expect to grow actually into the news and entertainment space with our solutions. Our TAM has increased compared to past references with the addition of MOG Technologies into our portfolio. You will see that the total addressable market is expected to grow at around 4% per annum from EUR 510 million right now in 2024 to approximately EUR 580 million in 2029. In 2022, we had around 9%-10% market share, and EVS does expect to grow its market share to approximately 15% by 2029, capturing actually market share from competition like Grass Valley, Avid, and Dalet.
And so, gaining about 5% in market share into a market that is growing at 4%, you see that we definitely have ambition to really shift gears with MediaCeption . Talking about innovation, Benoit. Yeah, in terms of MediaCeption innovations, we want to highlight first the availability of the VIA MAP 1.0, which is our new asset management platform, which is tailored for convergent media. So it features an enhanced media model for sport, but also for news and entertainment. And it also includes a web-based editor that simplifies editorial workflow. It's really a suite of applications that covers everything from ingest to playout. And it now includes a new AI-powered speech-to-text capability for faster metadata creation. Second, we want to highlight as well the availability of the XS Neo video server, which offers maximum flexibility for ingest and playout.
It's, of course, integrated fully into the VIA MAP application, and it supports a mix of I/O formats, which go beyond the pure broadcast, including NDI, SRT, and which handles resolution from HD to UHD, and finally, all the innovations about AI that we are producing, so either the generative AI or the usage of third-party AI, we also include these into the Media Hub in order to serve, let's say, our customer with a comprehensive content publishing and distribution platform, in fact, so thanks to that, we can streamline the workflows, and we can enable seamless and high-quality content delivery. Thank you, Benoit, and let me give you a very nice example of how MediaCeption and VIA MAP will be implemented, in fact, by Al Jazeera.
So indeed, we are quite proud to announce a new order, a multi-million order that will be supporting Al Jazeera's leading news operations across five key news bureaus like Doha, London, Washington, New York, and Sarajevo. So this solution will include 96 ingest channels and 120 playout channels. So that gives you an indication of the size of such a project. And they will all be powered by central storage and seamlessly managed through EVS VIA MAP. So this is indeed a quite important reference case in our industry. VIA MAP is a critical component here as it will be providing a unified platform for managing content across those multiple locations. It will ensure centralized orchestration, enabling Al Jazeera to streamline operations, reduce complexity, and maintain consistent workflows across its global bureaus.
So VIA MAP's ability to integrate with systems such as Avid, Mosart, and Arvato further enhance the operational efficiency and support rapid and collaborative production. Additionally, we will be delivering to every bureau a service level agreement in order to support or to ensure optimal performance and reliability for those mission-critical operations, so this collaboration underscores our expertise in delivering cutting-edge broadcast solutions for top-tier global news organizations, and you can definitely see and hear that they're quite proud of winning such a major reference as it also shows that we are able to win important deals from customers who are previously using other vendors. Going forward, talking about Media Infra structure. Media Infra structure are typically including broadcast control and monitoring systems, real-time IP video and audio processing solutions, real-time SDI processing and multi-viewing, and last but not least, IP and SDI routing solutions.
So Veerle, talk us again through that TAM evolution and what we expect in market share evolution over the years to come. Yeah, so in MediaInfra , we definitely have the ambition to double our market share. Mind that what Serge showed earlier on is that our market share in 2022 was around 3%-4%. It grows still in around 2023-2024 timeframe. And so in 2029, we would like to be at around 10% market share. All of this in a total addressable market that is growing at about 1% per annum, reaching approximately EUR 560 million by 2029. We believe that doubling market share is actually possible through effective cross-selling to existing customers and gaining market share from competition like Grass Valley, like Imagine, Evertz, and Ross. Good Media Infra structure and innovation. Yes. As for the other solutions, we continue to innovate for Media Infra structure as well.
Let's start with Cerebrum, which is our near-universal control system, which is designed to simplify and optimize the infrastructure management. In Cerebrum, now we offer more pre-built templates, which reduce the need for extensive customization. That means that we can deliver sooner a pre-configured solution for our customers. We also added a very important module dealing with resource management. Thanks to this module, our customers can maximize the efficiency of the usage of all the resources that they manage in their very diverse environments. Of course, we also innovate on Neuron. Neuron is our network-attached processing solution, and it stands out because of its power-efficient signal processing.
If we compare, let's say, Neuron with a pure software solution, we can save up to 90% of power cost, which is also, of course, very good to reduce the carbon footprint of our customers. On the Neuron platform, we also offer virtualization on a hardware FPGA server, which provides unparalleled flexibility for signal bridging, conversion, compression, and much more applications. All these innovations and these features are appreciated by even new kinds of customers, as Serge will highlight in the next slide. Yes, thank you, Benoit. Indeed, another important announcement we would like to make here. We recently won an important project for a large U.S. bank, which has been made possible by a U.S.-based channel partner, which is also an additional proof that our strategy is delivering on the expected results.
That leading U.S. bank has indeed recently ordered our cutting-edge broadcast-grade infrastructure solution to enhance its internal and external communication capabilities. The state-of-the-art setup includes Neuron for the advanced signal processing and Cerebrum as the orchestrator, clearly ensuring a seamless management of the entire production environment. The deployment will be executed in collaboration with a U.S.-based integrator, which represents today our largest ever Media Infra structure deal in the EVS history. This milestone was made possible through the strong support of our channel partner, who was definitely showcasing our ability and capability to deliver a reliable and innovative solution tailored for the needs of the financial sector. That is indeed also quite an interesting evolution that we see happening at this point in time.
So probably more about that in the future, but at this moment in time, indeed, we're quite happy to announce that we have received this order a few weeks ago and that this is definitely another proof point of our strategy that we are putting into place, so that brings me to generative AI, also for us an important evolution in the quality of our products and how we further improve the efficiency of our working at EVS, and Benoit, I'll ask you to start here with what we do in MediaCeption and with AI. Yes, indeed. First, we have to mention that it's not only about generative AI, but also about AI, the simple AI, I would say. And we integrate as well natural language search in our solution, especially in MediaCeption . And thanks to that, we can transform all the voice into text.
Based on this, we offer new capabilities for the editors to locate the content very quickly and to accelerate the way that they can produce content. Second, we have face and emotion recognition now embedded in our solution, which allows as well precise search for individual and emotional clues, cues, sorry, which also generate unique visual fingerprint within the metadata so that we can identify the right piece of content that we want to edit or that we want to include within a clip. Third, we include on-premise the large language models. It's not about just contacting things in the cloud. We can embed the large language models in our solution, which adds advanced capabilities such as summarization, translation, metadata generation, and automatic captioning. All these kinds of AI, we take from third parties to include in our solutions.
But we do much more, and we specialize on other types of AI into the computer vision, as will be explained by Serge. Yes, thank you, Benoit. So that was indeed how we use AI with third-party technology in our MediaCeption . But let's look at something of a higher value for us. We definitely intend to further enhance the level of emotion that is brought to the screen with our generative AI solutions that we are developing with our own innovation team. And at this moment in time, we have already a few of those effects that we have started commercializing. So we have developed broadcast-specific near-real-time generative AI to improve indeed the image quality with great return on investment. Remember, we're talking about our ecosystem and the technologies that we're providing here are options for existing customers that they can add to their existing or future production capabilities.
Here you can see a few of them that will be showing. The first one is XtraMotion to replace super slow motion cameras or to turn any camera into a super slow motion camera by adding frame rates, by adding hallucinated frame rates in between real images. Let's have a look at the video that explains what it is all about. We'll show you here indeed on the left-hand side images without XtraMotion, and on the right-hand side, you can see with XtraMotion. You see that the quality of the video is definitely much better with XtraMotion. That is what XtraMotion is all about. It's to be able to turn any camera into a super slow motion camera. The second effect that we want to talk about is that cinematic effect to replace lenses with a shallow depth of field.
So what we try to do here is using any camera, using any input from a camera, and trying to blur the background so that you have indeed that cinematic effect. And here again, let's have a look at the video so that you better understand what we're looking at. So here you see a video where everything is clear, with everything sharp. That's the original clip. And then by adding our effect live, we can see that the background is blurred. And that attracts indeed the viewers to the person in the middle that we try to make as sharp as possible. So that's indeed that cinematic effect, which is available for our customers on our solutions as we speak. Another one is about de-blurring to maximize the image sharpness.
So we'll do it the other way around, where in the previous effect, we were trying or we were blurring the background. Here we are de-blurring the background. And again, we'll show you a video to demonstrate what the effect is. So here you see normal images, and you see in the original clip that the image is quite blurred. And now by de-blurring, you see it's much more sharper. And by the way, that also means that you can read the commercials in the background in a much better way than before. So that also is a very interesting capability that I offer very much. The next effect based on our AI is indeed the tracking to directly publish on social networks. So you're used to see an image in a horizontal way, but some of the social medias use a vertical format.
So you have to be able to immediately cut from a horizontal to a vertical way, and we can do that now also with our AI tools. So here comes an example. So here you can see how we automatically follow the skier. If we didn't do it like that, we would not see the skier. Sometimes we just see snow. So this is again quite important. And remember, this is live, so that can be applied immediately. It's not something that is being done in post-production, but it's something that our customers can use in live environments. And that creates, of course, quite some value for our customers and for us. Another very nice example of our technology that we apply with generative AI is the upscaling of images going from HD to 4K. And again, I'll have a video here that shows you what that means.
So here you will see the difference between the original clip in HD and then what we can do with super resolution in 4K thanks to our generative AI technology. So again, this is something that is very much appreciated by customers and which is adding value to our ecosystem. And last but not least, here in the applications or the effects that we are implementing is an auto zoom capability, which also helps our customers to enhance their workflows. And here again, we have a video showing you what that means. You can see an operator indeed zooming in on the image and then automatically generating the image that you can see on the right-hand top side. And again, you always see that same interface that is being used to do that.
And just to remind all of you what XtraMotion means is that while without XtraMotion, for instance, super slow motion is limited to two cameras on the left, when you implement XtraMotion, you can suddenly turn any camera in the picture into a super slow motion camera. So that's definitely the strength that we bring and the value that we bring to our customers by introducing those generative AI capabilities. And last but not least, what I want to say here about our technology is that it's fully integrated into LSM-VIA, into that gateway. So you are used to see this device only being used for doing replay and highlights and piloting one server. Now with our LSM-VIA, we can do much more.
And the integration that we do of generative AI tools is also making it very, very easy for the operator to have that immediately available. So that's also one of the strengths that we bring. Thanks to our ecosystem, we can bring this additional technology, and any user, any existing user of our technology can easily start this generative AI type of workflow. It doesn't need to be an engineer or be heavily trained. He can just push the button and get the result immediately on screen. Good. That brings me to the closing before we go to a Q&A session. So on the closing, let's have again a look at our route to our BHAG and Veerle. I will ask you to comment on that. Yes, thank you, Serge.
In summary of the presentation, we do definitely come back to our big hairy and ambitious goal of reaching €350 million by 2030. In this graph, you see in yellow the estimated linear growth to that 2030 target. You see what we realized in 2019 to 2023. Definitely in 2019, it was a very challenging goal that we set for ourselves. We do see that since a couple of years, we're actually ahead of track of this linear growth. Also for 2024, we do see that we will remain ahead of track and quite well remain ahead of track of reaching that ambition.
Obviously, if we look further down into the future, we do believe that with our organic growth, so the growth from the market and gaining market share, everything that we mentioned in the past couple of minutes, we do believe that we actually can get to somewhere in between 60 to 70 to 80 million EUR by 2030 just by our organic portfolio at this point in time, which does mean that we still have to go and get a couple of millions out of acquisitive growth. And so you'll see the final block that we will have to close to get to that EUR 350 million will be by executing our M&A strategy. The good thing is that we definitely have the financial power to execute on that M&A strategy. We have a very, very healthy balance sheet, a very strong operational cash flow generation.
And we do still see that opportunities are multiple within the market to realize our ambition. From a profit point of view, if we go to the next slide, we also see that profit margins. We project them to remain stable over the next couple of years. Therefore, the mix of solutions may impact that margin negatively. We do still see this being compensated by increasing software content and obviously also by continuing to monitor component price increases and ensuring we continue to offset this by exercising our pricing power within the market. From an EBIT point of view, we continue to model an EBIT margin around 20%-23%. We may expect organically some operational leverage into the future, but we currently estimate that this might be offset or influenced by acquisitions. Obviously, this is still a high-level assumption and will have to be confirmed when we close acquisitions.
For 2025, we also expect to introduce an end-to-end capital allocation framework. This is a dynamic framework actually balancing cash allocation needs in function of the company's strategy. Capital will therefore be dynamically allocated to either growth needs, both organic and acquisitive growth needs, dividend policy, and share buyback. And the goal of such a framework will be to provide transparency around shareholder return also for the future. You may expect an update on this capital allocation framework early 2025. Thank you, Veerle. So that brings me to the last slide here that talks about our growth levers. So you've seen us being quite confident about our growth and possibilities. We've demonstrated over the last four years that our strategy is effectively demonstrating or delivering the expected growth results. And we are quite confident that that same strategy will help us to further grow into the future.
Those growth levers are indeed the following ones. So consolidate that leadership in LiveCeption. No doubt about that. We see, as you've seen, we've done very good progress. We've even further increased our market share over the last years. So we're very happy to see that. We'll further grow in MediaCeption and MediaInfra. Remember the slides that you've seen from Veerle with that market share, where we are today and the potential that we see in front of us. So we're quite confident that over the next years, thanks to our innovations and thanks to some decisions of competitors, we'll be able indeed to further gain in market share. We'll continuously further double down in North America. We understand that this is a critical market for us and our industry, of course.
When we see the size of the market and the possibilities for the future, we are quite confident that this market, North America, will create quite some opportunities, and last but not least, we'll continuously develop adjacencies, adjacent markets. We've seen a nice example through that US deal with a US bank, thanks to one of our channel partners. So that is also a nice proof point that this is a possibility to help us further generate that growth, so thank you again for attending, and I look forward to seeing you somewhere in the near future at another event where we'll be able to further talk about our realizations in our future, and I thank indeed also Veerle and Benoit, of course, for helping me during this presentation here today. Last but not least, Christelle, for organizing all of this.
Thank you very much and have a very nice day.