Broadcasting Equipment Market Estimated Grow At USD 8.4 Billion by 2030 with a CAGR of 6.1% – Report by Market Research Future (MRFR)
Broadcasters & Media Organizations Boosts Broadcasting Equipment Adoption
New York, US, Feb. 16, 2023 (GLOBE NEWSWIRE) — Broadcast Equipment Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Broadcast Equipment Market” information by Technology, by Product, by Application and Region – Forecast to 2030” market size to reach USD 8.4 billion, growing at a compound annual growth rate of 6.1% by 2030.
Broadcast Equipment Market Scope:
The broadcast equipment market is poised to grow moderately. The evolution of media production over the past several years and rapid shifts to the cloud and software-as-a-service (SaaS) applications would drive the market growth. Advances in broadcasting technologies and the rising demand for quality high-definition live streaming content boost market revenues.
Dominant Key Players in Broadcast Equipment Market Covered are:
- Eletec Broadcast Telecom SARL (France)
- Cisco Systems Inc. (US)
- Evertz Microsystems Ltd. (Canada)
- Belden Inc. (the US)
- Harmonic Inc. (US)
- Clyde Broadcast (UK)
- Euro Media Group (France)
- Sencore (US)
- Global Invacom Group Limited (Singapore)
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A larger part of industry revenues come from broadcast production centers. Huge developments in the telecommunication industry led by the increasing deployment of 4G and LTE networks drive the broadcasting equipment industry. Moreover, the rise in radio & TV broadcasting and social media channels influence the market value. OTT streaming, live sports, and online events accelerated during the COVID 19 pandemic, pushing the broadcast equipment market forward.
Market USP Exclusively Encompassed:
Broadcast Equipment Market Drivers
The broadcast equipment market has been witnessing a constant uptick over the past few months and will continue to grow further during the assessment period. The rising digitization has further increased the need for cloud-based apps & services and IoT devices.
Media and entertainment are one of the fastest-growing industries worldwide and the key end-user of broadcast equipment. Vastly growing media & entertainment industries drive this market. Additionally, augmenting demand from live streaming bolster the market growth.
Also, the growing demand for Ultra High Definition (UHD) content and the shift to cloud-based products, solutions, apps, and open architecture push the market growth. Furthermore, investments in broadband infrastructure with high-speed internet, demand for multi-screen video consumption and advances in over-the-top (OTT) content & services has added to the market growth.
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Segmentation of Market Covered in the Research:
The broadcast equipment market is segmented into technologies, products, applications, and regions. The technology segment comprises digital broadcasting and analog broadcasting. The product segment comprises dish antennas, transmitters, repeaters, switches, encoders, modulators, amplifiers, video servers, and others. The application segment comprises radio and television. The region segment is sub-segmented into Asia Pacific, Europe, North America, and rest-of-the-world.
North America dominates the global broadcast equipment market. There has been an enormous rise in the number of satellite and cable television channels in the region. Besides, the widespread internet penetration and high-speed network provisions offer significant opportunities, making the region a good choice for broadcasters for their expression.
The presence of key broadcast companies and equipment manufacturers, such as Comrex, USA, Arrakis Systems, Inc, Broadcast Electronics Inc., and Cisco Systems Inc., impacts the regional market growth positively. Moreover, the growing penetration of the internet, alongside the rise in satellite and cable TV channels, offers broadcasters several choices for their own political and creative expression.
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Europe is the second-largest market for broadcasting equipment. Factors such as cultural diversity, the rise in broadcast channels, and the early & increasing adoption of technology are megatrends boosting the region’s market size. The UK, Germany, and Italy, with their rapidly growing broadcast equipment industry, dominate the regional market. The European broadcast equipment market is estimated to create a significant revenue pocket during the forecast period.
APAC has emerged as a significant market for broadcast equipment. Increased broadcast equipment manufacturing plants and production houses are major driving forces. Moreover, large numbers of electronic component manufacturers and advances in broadcasting and media technologies substantiate the region’s market shares.
Furthermore, increasing investments by equipment manufacturers for the development of high-quality audio & video equipment influence the market value of broadcast equipment. With their rapidly growing media and entertainment industries, Japan, India, and China account for notable shares in the regional market. The APAC broadcast equipment market is predicted to grow fastest over the forecast period.
Highly competitive, the broadcast equipment market appears fragmented due to the presence of several well-established players. Industry players make vast investments in research and development activities and foster their expansion plans. These market players adopt approaches such as greater commercialization of their products, promotion initiatives through competitions & trade exhibitions, and increased collaboration.
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For instance, on April 23, 2022, Evertz Microsystems, Ltd. announced its plans to expand its media¬ production accessibility at the NAB Show press event. The company stated that it would focus on its evertz.io SaaS, a cost-effective solution that simplifies a customer’s transition to the cloud.
The firm is seeing a lot of conversations about reliable transport streams and the ability to bring content from home over the public internet into production. It is working on how to leverage 5G and create content that may not have been previously accessible without a lot of outside broadcasting (OB) like trucks and other equipment.
At NAB Show, Evertz demoed several SaaS offerings, including Reflektor, a SaaS cloud-based transport, translation, and transcoding solution. Also, Ease Live, a SaaS-based interactive graphics platform, was featured as part of the company’s line of direct-to-consumer solutions. On the RF side, Evertz showcased its new XRU4 Router and an update to its 2400DU outdoor transmission platform.
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