Dublin, May 22, 2024 (GLOBE NEWSWIRE) -- The "Broadcast Switchers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Broadcast Switchers Market to Reach $2.5 Billion by 2030
The global market for Broadcast Switchers estimated at US$1.9 Billion in the year 2023, is projected to reach a revised size of US$2.5 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030. High Definition Broadcast Switchers, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$2.1 Billion by the end of the analysis period. Growth in the Standard Definition Broadcast Switchers segment is estimated at 3.8% CAGR for the next 7-year period.
The broadcast switchers market is poised for growth, driven by the enduring presence of TV broadcasting in media consumption. The healthy outlook for the global broadcasting industry offers trickle-down benefits to the switchers market. Recent market activities highlight a significant shift from analog to digital broadcasting, resulting in increased TV viewership and providing a robust foundation for market expansion.
The analog switch-off (ASO) in select countries has accelerated this transition, pressuring broadcasters to create value through continuous innovation, thereby spurring investments in broadcast switchers. Over the next few years, steady market growth is projected, with developed regions being the prime revenue contributors and developing countries emerging as focal points for future growth.
A stable economic scenario is expected to underpin unit sales, while technology advancements will further spur market growth. The trend towards automation in TV broadcasting strengthens the business case for broadcast switchers, as does the growing appetite for live breaking news and stories, which drives the deployment of television production trucks and the demand for portable broadcast switchers.
Additionally, the rise of user-generated content and the increase in mobile broadcasting have spurred demand for highly compact broadcast switchers, catering to the needs of a more decentralized and mobile production environment. Global key competitors' percentage market share in 2024 will reflect these evolving dynamics, underscoring the importance of innovation and adaptability in maintaining market leadership.
The U.S. Market is Estimated at $557.9 Million, While China is Forecast to Grow at 4% CAGR
The Broadcast Switchers market in the U.S. is estimated at US$557.9 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$449.6 Million by the year 2030 trailing a CAGR of 4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 3.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $2.5 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Single Most Visible Presence of TV Broadcasting in Media Consumption Sustains Growth in the Broadcast Switchers Market
- Healthy Outlook for the World Broadcasting Industry to Offer Trickle Down Benefits
- Recent Market Activity
- Shift of Broadcast TV from Analog to Digital & the Ensuing Rise in TV Viewership Provides Robust Foundation
- Analog Switch-Off (ASO) in Select Countries
- Pressure On Broadcasters for Value Creation Through Continuous Innovation Spurs Investments in Broadcast Switchers
- Steady Growth Projected over the Next Few Years
- Developed Regions: Prime Revenue Contributors
- Developing Countries: The Focal Point for Future Growth
- Stable Economic Scenario to Underpin Unit Sales
- Broadcast Switchers - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Technology Advancements to Spur Market Growth
- Trend Towards Automation of TV Broadcasting Provides a Strong Business Case for Switchers
- Growing Appetite for Live Breaking News & Stories Drives Deployment of Television Production Trucks & Spurs Demand for Portable Broadcast Switchers
- Rise of User Generated Content & the Ensuing Increase in Mobile Broadcasting Spurs Demand for Highly Compact Broadcast Switchers
- Production Switchers with High-End Digital Video Effects Grow in Popularity
- Scalable & Future Proof Multi-Device Master Switchers Witness Strong Demand
- The Robustly Growing Video Surveillance Industry Drives Demand for Video Routing Switchers
- Changing Needs of the Broadcast Industry Brings Cloud-Based Video Switchers into the Spotlight
- Multi-Functional and Multi-Format Switchers Grow in Demand
- Expanding Applications into Non-Broadcast Sectors to Benefit Growth in the Market
FOCUS ON SELECT PLAYERS
- Barco N.V.
- Blackmagic Design Pty. Ltd.
- Broadcast Pix, Inc.
- Datavideo Technologies Co., Ltd.
- Evertz Microsystems, Ltd.
- FOR-A Company Ltd.
- IHSE GmbH
- Ikegami Electronics (U.S.A), Inc.
- Imagine Communications Corporation
- Kramer Electronics Ltd.
- Matrix Switch Corporation
- NEC Corporation
- NewTek, Inc.
- Panasonic Corp.
- Ross Video Ltd.
- Sony Corporation
- tvONE
- Utah Scientific, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/swkev0
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