Broadcast equipment market revenues to reach usd 6.88 billion by 2028

According to a new market research report titled “Broadcast Equipment Market Report (2023-2028),” the market is estimated at USD 5.16 billion in 2023. It is expected to register a CAGR of 5.91% during the forecast period.

Broadcasting uses many formats and requires various equipment like transmitters, generators, and antennas. Even though broadcast media faces challenges due to the shift from television to digital media, the demand for high-quality audio and video has led to advancements in broadcast equipment, including UHD and 4K. The industry is transitioning to IP and cloud-based solutions for remote workflows and operational efficiency.

Growth in encoders market

• Video encoders are required to convert analog or digital video to another digital video format for delivery. They are used for ISR, IPTV, and transmitting video over the internet or IP-based networks.
• Hardware encoders are preferred by professionals. Beginners and mid-level broadcasters prefer software encoders more.
• Factors like the increasing high-definition content, the shift to digital broadcasting, and the growth of OTT platforms are encouraging the demand for encoders. Encoders can also improve the video quality for subscribers.

Notable growth in Asia-Pacific region

• Densely populated countries like India and China in the Asia-Pacific region are rapidly adopting broadcasting technologies.
• Asia accounts for half of the world’s internet users. The internet penetration in the region is expected to reach 72% soon. Countries like Vietnam, Iran, Bhutan, and Bangladesh are witnessing significant increases in internet penetration.
• Broadcast players from the region are investing heavily to gain more advantages in the market.

What are the latest developments in the global broadcast equipment market?

• In October 2022, Sony, in collaboration with Ideal Systems Group, provided Alaraby Television with an IP HD/4K-ready Live Production studio for the FIFA World Cup Qatar 2022. Sony offered two XV-S7000 multi-format video switchers, 11 4K HDC-3500 system cameras, and operability for mid-range productions.
• In May 2022, Sky Wire Broadcast developed into a one-stop shop for system integration consulting and services for broadcast and ed-tech customers in India.

Globe Newswire