Pune, India, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global broadcast equipment market size was valued at USD 5.71 billion in 2021. The market is expected to grow from USD 6.24 billion in 2022 to USD 19.40 billion by 2029, exhibiting a CAGR of 17.6% during the forecast period. Rising advanced technology adoption and rapid technological advancements in broadcasting technology are expected to foster the market’s progress. Fortune Business Insights™ shares this information in its report titled “Broadcast Equipment Market Forecast, 2022-2029.”
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Key Industry Development
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 17.6% |
| 2029 Value Projection | USD 19.40 Billion |
| Base Year | 2021 |
| Broadcast Equipment Market Size in 2021 | USD 5.71 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Technology, Application, Equipment and Geography |
Manufacturing Facilities Closure Disrupted Market Progress During the Pandemic
This market was affected during the COVID-19 pandemic due to the closure of manufacturing facilities. The alarming spike in COVID-19 infections led to the adoption of strict restrictions on manufacturing. This factor created supply chain disruptions and reduced sales. Furthermore, restrictions on transport and travel created raw material shortages. However, manufacturers adopted industrial automation, reduced capacities, and part-time shifts to recover their losses. These factors may elevate this industry’s progress.
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Drivers and Restraints
Emergence of Numerous OTT Platforms to Propel Market Progress
Broadcast equipment is the distribution of audio and video content to audiences using an electronic communications medium. The emergence of numerous OTT platforms is expected to boost the demand for the equipment. Furthermore, the increasing adoption of smartphones and Internet-of-Things (IoT) is expected to enhance the demand for the equipment. Moreover, the rising number of OTT audiences and the emergence of several OTT platforms is expected to enhance the demand for the equipment. Also, broadcasting technology advancements are expected to facilitate the broadcast equipment market growth.
However, high initial investments and lack of labor are expected to hamper the industry’s growth.
Segmentation
Analog Broadcasting Segment to Dominate Attributable to Strong Adoption of Traditional Broadcasting System
By Technology, the global market is segmented into analog broadcasting and digital broadcasting. The analog broadcasting segment is expected to dominate due to the rising adoption of the traditional broadcasting system.
Television Segment to Grow Considerably Owing to Rising Demand for Visual Content
Based on application, the market is bifurcated into television and radio. The television segment is expected to grow substantially due to the increasing demand for visual content.
Dish Antenna Segment to Grow Substantially Backed by Robust Demand for Dish Antennas
As per the market is classified into dish antennas, switches, video servers, encoders, transmitters and repeaters, and other products. The dish antenna segment is expected to grow considerably due to the strong demand for dish antennas.
Regionally, the market is grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Regional Insights
Rising Adoption of Dish Antennas and Video Servers to Propel Market Progress in Asia Pacific
Asia Pacific is expected to dominate the broadcast equipment market share due to the rising adoption of dish antennas and video servers. The market in Asia Pacific stood at USD 3.01 billion in 2021 and is expected to gain a huge portion of the global market share in the upcoming years. Further, the increasing adoption of the equipment from of broadcast equipment in the commercial and consumer sectors is expected to enhance the industry’s progress.
In North America, the robust demand for television is expected to enhance the demand for small and medium-scale equipment. Furthermore, the rising adoption of advanced broadcast equipment from the domestic industry is expected to propel the industry’s growth.
In Europe, extensive production of broadcast equipment is expected to enhance the industry’s growth in the region.
Competitive Landscape
Major Players Deploy Novel Product Launches to Enhance their Brand Image
The prominent companies operating in the market devise novel product launches to enhance their brand image. For example, Sky Wire Broadcast launched a slew of wireless transmitters, video switchers, video encoders, and the PTZ Camera series to propel their brand image. This strategy may allow companies to enhance sales and bolster their brand image. Furthermore, major players deploy mergers, acquisitions, partnerships, research and development, expansions, and industrial automation to fulfill organizational goals and boost their market position.
List of Key Players Profiled in the Report
- CommScop (U.S.)
- Evertz Microsystems Ltd. (Canada)
- Global Invacom Group Limited (Singapore)
- EVS Broadcast Equipment (Canada)
- AvL Technologies Inc. (U.S.)
- ACORDE Technologies S.A (Spain)
- ETL Systems Ltd. (U.K.)
- Clyde Broadcast (U.S.)
- Sencore (U.S.)
- Eletec Broadcast Telecom S.A.R.L (France)
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Major Table of Contents:
- Global Broadcast Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
-
- Key Findings
- By Technology (USD Bn)
- Analog Broadcast
- Digital Broadcast
- By Application (USD Bn)
- Television
- Radio
- By Equipment (USD Bn)
- Dish Antennas
- Switches
- Video Servers
- Encoders
- Transmitters and Repeaters
- Other
- By Region (USD Bn)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
-
- North America Broadcast Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
-
- Key Findings
- By Technology (USD Bn)
- Analog Broadcast
- Digital Broadcast
- By Application (USD Bn)
- Television
- Radio
- By Equipment (USD Bn)
- Dish Antennas
- Switches
- Video Servers
- Encoders
- Transmitters and Repeaters
- Other
- By Country (USD Bn)
- U.S.
- Canada
- Mexico
-
- Europe Broadcast Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
-
- Key Findings
- By By Technology (USD Bn)
- Analog Broadcast
- Digital Broadcast
- By Application (USD Bn)
- Television
- Radio
- By Equipment (USD Bn)
- Dish Antennas
- Switches
- Video Servers
- Encoders
- Transmitters and Repeaters
- Other
- By Country (USD Bn)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
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