The broadcast equipment market is projecting to exhibit an enormous amount of growth during the ongoing forecast period of 2020-2030. During the historic period that ended in 2020, the broadcast equipment market reached a final market valuation worth USD 6 billion. The market is expected to reach a market valuation worth USD 13.15 billion. The global market growth at this rate for the ongoing forecast period has been attributed to the radical shift of the demand of the varied products from hardware-oriented to software availability, and open, architecture-based demand and associated services.
The broadcast equipment market is witnessing a huge demand for ultra-high definition (UHD) content transmission alongside global production that is backed with the increased D2C offerings through various online platforms penetrating during the forecast period.
COVID 19 Analysis
The pandemic was an unforeseen and unexpected twist that had hampered the ability of the industries and markets to produce the needful as per the global demand and hence, this has negative effects on the supply chain mechanism of various production and manufacturing units of businesses and companies that are functional in various regions across the globe. The pandemic has emerged in the form of a healthcare emergency that has imposed restrictions on the routine of people and altering the way which they chose for normal functioning, movement, travel, and even lend their professional services to the target audience. The lockdown has been imposed by the global governments to decrease the positivity rate and the spread of the pandemic with a motive to bring down the fatality rate. Also, functional restrictions in the form of timings, barring the inter and intra-state facilities, and temporarily suspending the exports and imports have major repercussions to follow.
Hence, to help the broadcast equipment market functions revive the operations and retain the demand, the government is stepping forward and introducing regulations that are feasible for the market implementation and also, increase their investment towards the research and development departments to develop and implement advancements that are fruitful for a smooth running of the broadcast equipment market operations for the forecast period that ends. Also, the market players are signing up for mergers, acquisitions, and collaborations on a global scale to enhance the products and launch them at a recognized platform for the target audience.
Broadcast Equipment Market Dynamics
The broadcast equipment market operations are witnessing a drastic shift for employing content production in high-definition for a better and reliable user experience. There are rising investments for OTT infrastructure and making qualitative content available for multi-channel networks. This development of the broadcast equipment market is backed by a huge and reliable presence of high-speed and competent broadband infrastructure from reliable and experienced sources during the forecast period. An indispensable rise in the growth of digitization and the increased ability of people to spend and get their hands on the availability of sturdy IT infrastructure is present huge growth driving factors to the global market that is functional in 4 major regions across the period during the forecast period.
However, one of the major factors that are restraining the broadcast equipment market operations to grow and expand as per the predicted figures laid down is that there continues to prevail a continuous gap of speed and variations. The market players are working to dissolve the same by working on the development of efficient video compression technology that ensures good speed that is enough for multi-screen video consumption.
The broadcast studio equipment and the related environment have undergone a massive change from being simple and static to emerging as dynamic and driven by quality content. Also, there has been an enhancement of viewing and interested audience that are shifting towards non-traditional platforms for delivering content and breaking the barriers. The broadcast equipment market is home to both computers and portable devices such as tablets, iPads, and smartphones. Technological advancements show that broadcast monitors don’t just use display devices but are undergoing evolution to become an integral part of the production chain especially during the pandemic year of 2020 followed by the forecast period.
Broadcast Equipment Market Segment Overview
The live broadcast equipment is one of the verticals through which quality content is made available to the target audience that promises good returns in the future. Similarly, other broadcast equipment market segments hold a good revenue potential, as well. These are:
Based on application
Based on the application broadcast equipment market segment, radio and televisions form the basic requirements.
Based on technology
The broadcast tv equipment market deals in both analog broadcasting and digital broadcasting to suit the preference of the target audience. This step has been taken to enhance the customer base and subsequently, expand the market operations.
Based on product
The broadcast equipment market deals in a variety of products to cater to a larger audience demand like encoders, dish antennas, amplifiers, transmitters, and switches amongst others like repeaters, video servers, and modulators.
Based on region
The global market is currently functional in 4 major geographical regions namely the Asia Pacific region, the North American region, European nations alongside the rest of the world (RoW).
Broadcast Equipment Market Regional Analysis
The global broadcast equipment market has the maximum positive attributes for growth and expansion in-store for the target audience located in the North American region during the forecast period that ends in 2028. The market enjoyed domination over other market players and regions in the previous forecast period that ended in 2019, as well. The main reason why similar trends are expected to prevail in the current period is that the region is witnessing a huge increase in the number of cable and satellite television channels. Also, large-scale penetration of continuous and fast-speed internet facilities and connectivity in the region has resulted in providing the available broadcasters will a huge number of choices for the creation of their political expression. Also, North America is home to people from all places across the globe owing to excellent opportunities related to various fields. The enhancement in cultural diversity is also pushing for the advent of broadcast channels which is further, demanding the availability of broadcast equipment market.
Europe is the second-largest region that is likely to witness a considerable growth quantum and expansion. The main reason is that there is an increase in the number of broadcasters in the region during the forecast period ending.
Broadcast Equipment Market Competitive Landscape
The following prominent players of the market that are currently functioning and rendering their operations and help the global market grow:
The broadcast equipment market industry shows the functioning of the market players and segments across various regions that will present drivers and opportunities for the market to grow during the forecast period that ended in 2028. The market report discusses the recent developments undertaken to help the broadcast equipment market grow during the period ending.
Television, antenna, radio broadcasting digital, FM, wireless, AM, microwave, and Bluetooth are known as broadcasting equipment.
The broadcast equipment market can tap into about 6% CAGR between 2022 and 2030, due to growing need for entertainment as work-life is observed to become taxing.
The need for better communication across different verticals is expected to cause the global broadcast equipment market value at USD 13.15 billion by 2030.
Cisco Systems Inc (U.S.), Evertz Microsystems, Ltd (Canada), Ericsson AB (Sweden), EVS Broadcast Equipment SA (Belgium), Grass Valley (Canada), and Harmonic Inc (U.S.) are a few potential broadcast equipment providers.
The availability of potential key players and the presence of strong network connectivity providers can boost the APAC broadcast equipment market surge.