ID: MRFR/SEM/6176-CR | July 2019 | Region: Global | 101 pages
Market Research Future (MRFR) expects the Global Broadcasting Equipment Market size to reach USD 7,705.3 Million at a CAGR of 6% from 2017 to 2023 (forecast period). The broadcast industry has transformed due to the digitization and subsequent advancements of Internet services. The progressive shift to digital from analog delivery methods and the rise of online video platforms are the main developments that have had a significant effect on the broadcasting ecosystem around the world. With these transformations in broadcast technologies, the advancements in broadcasting equipment have become more valuable than ever.
With the consumers’ preference shifting after social distancing and lockdown induced by COVID-19, streaming entertainment services and OTT platforms like Netflix have become much more popular than ever before, which could be an exceptional booster for the broadcast equipment market in the long run.
Advancement in broadcasting technology
There has been a change from hardware-based architecture to software-based setup due to the development in broadcasting technology. In the past, content would be broadcast on limited equipment, including radios and television sets that followed a fixed schedule that was determined unilaterally at the channel headquarters. Over time, however, traditional hardware-oriented linear broadcasting has undergone a change in the content distribution paradigm with the advent of non-linear and hybrid broadcasting. Non-linear broadcasting allows viewers the opportunity to see what they want, where they want, on the device they want.
According to the MRFR, the global viewing time for linear broadcasting has decreased by almost 3 hours per week since 2012, whereas non-linear broadcasting has been increasing by 4 hours per week. In order to do the same, the original equipment manufacturers (OEMs) are developing more software-based solutions, high-speed, IP-connected, and promote open architectures that work with multiple standards.
Emergence of OTT services
The advent of OTT services has fundamentally changed the entire film, television, and entertainment industry. Traditional broadcast TV has been transformed into a major and fast-growing inroad of internet and OTT video platforms. The launch of OTT video platforms generates massive revenue worldwide, mainly from a handful of influential American global players like Netflix, Amazon, and YouTube. They are at the forefront of this revolution. OTT technology allows video content to be accessed via a fixed or mobile broadband Internet connection instead of via a broadcast spectrum or a dedicated cable, fiber, or satellite network. Due to the growing demand for OTT content, OEMs in the broadcasting equipment industry have to cope with the newer technologies used for OTT content transmission that can expand their traditional range of broadcasting equipment.
The global broadcasting equipment industry has been segmented based on application and product,
Based on the application, the global broadcasting equipment market has been segmented into CATV, direct broadcasting satellite, terrestrial television, IPTV, and radio.
Based on product, the global broadcasting equipment market has been segmented into encoders, dish antenna, amplifier, transmitter and repeater, switch, video server, modulator, and others.
APAC to lead the global market
Asia Pacific is projected to be the fastest-growing market in broadcasting equipment, growing at the highest CAGR level due to technological progress, continuous economic growth, and increasing demand for communications services. Japan earned the largest market share in 2017 and is projected to have a high CAGR during the assessment period.
North America to follow APAC
North America is projected to have the largest market share in the broadcasting equipment during the evaluation period. Some of the factors responsible for the market growth include high Internet usage and increasing demand for paid TV.
The global broadcasting equipment market is strongly fragmented due to the presence of a large number of players in the market. Many industry players are making developments to separate themselves from their competitors.
The Key Players in the Global Broadcasting Equipment Market are Cisco Systems, Inc. (the US), Eletec Broadcast Telecom SARL (France), Evertz Microsystems, Ltd (Canada), Harmonic Inc. (US), Belden, Inc. (the US), Clyde Broadcast (UK), Global Invacom Group Limited (Singapore), Euro Media Group (France), Sencore (US), Telefonaktiebolaget LM Ericsson (Sweden), EVS Broadcast Equipment (Belgium), ETL Systems Ltd (UK), ACORDE Technologies SA (Spain), and ARRIS International PLC (US).
In October 2018, Cisco System Inc. collaborated with the United States Golf Association (USGA) to the fan experience at USGA championships and build new opportunities for content distribution on-site and worldwide by using Cisco’s technology. This collaboration is expected to improve the broadcast studio at USGA headquarters to support various strategic initiatives such as learning golf’s new rules.
In September 2018, Evertz Microsystems Ltd installed over 400 IP facilities using its software-defined video networking (SDVN) technology.
This research report explores vital drivers, constraints, and challenges in the global broadcasting equipment market, regional and segment revenue estimates and assessments. The base year is 2017; the evaluation period is 2017-2023. The segmentation of the market is described in the following manner.
Frequently Asked Questions (FAQ) :
CAGR of 6% is recorded for the Broadcasting equipment market, as per the study by experts.
The Broadcasting equipment market is going to achieve a valuation of USD 7,705.3 Million by 2023.
2017–2023 is the growth period for the Broadcasting equipment market estimated for the experts.
Asia-Pacific, North America, Europe, and the rest of the world are the key regions where the market’s growth has been evaluated.
Asia-Pacific region is the fastest growing market in the broadcasting equipment market for having optimum technological innovation, the rising demand for communication services and continuous economic growth.