Trends
With 17.6% CAGR, broadcast equipment market worth USD 19.40 billion by 2029
T Drivers and Restraints
Emergence of Numerous OTT Platforms to Propel Market Progress However, high initial investments and lack of labor are expected to hamper the industry’s growth.
Segmentation 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 Dish antenna segment to grow substantially backed by robust demand for dish antennas Regionally, the market is grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Rising adoption of Dish antennas and video servers to propel market progress in Asia Pacific 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
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.
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.
Analog Broadcasting Segment to Dominate Attributable to Strong Adoption of Traditional Broadcasting System
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.
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.
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.
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. Business Wire
