By 2032, size of the global broadcast equipment market would exceed US$ 8.1 billion. It experienced a CAGR of 5.8% over the preceding ten years. According to Future Market Insights, the market would expand at a 5.1% CAGR between 2022 and 2032. In 2022, the market had a value of US$ 4.9 billion.
Sales of broadcast equipment and technology have increased as a result of escalating demand for high-quality video and audio. In recent years, IP live-production technology has advanced. It came about as a result of content produced in 4K and UHD formats. For better viewing, these were transmitted in the same format. In order to record live, it is necessary. Flexible and efficient system control are required worldwide.
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The market is rising as a result of technical advances. Owing to these factors, broadcasters are nowadays required to provide UHD output to their premium subscribers.
Sales of broadcast equipment would also be pushed by expansion of digital channels. Growing application of cutting-edge broadcasting technologies would also push sales. A few technologies include 4K and 8K video quality for general news coverage and sports news, respectively.
The market may be hampered by digital audio and video formats’ quick evolution. Standards for digital formats and compression methods evolve with each new advancement in digital technology. Adoption of high definition material is a result of explosive growth in demand for broadcast equipment. Digital broadcasting is replacing analogue transmission among consumers.
In order to broadcast audio and video, encoders are employed. Typically, these transform analogue or digital footage into another digital video format. They facilitate the transfer of the video to a decoder.
A new video encoding device is the Cisco Digital Media Encoder 2200, for instance. It is a multiprocessor and audio device of studio caliber. It offers digital media streaming on demand. It further provides live streaming over an IP network. As a result, there will be a high demand for encoders for broadcasting as audio and video encoding needs increase.
Key Takeaways from Broadcast Equipment Market Study
· The global broadcast equipment market would witness 5.1% CAGR in the forecast period.
· North America would reach a valuation of US$ 3.25 billion by 2032.
· The USA broadcasting equipment market would outpace US$ 2.5 billion by 2032.
· The United Kingdom broadcast equipment market would expand at a CAGR of 4.3% from 2022 to 2032.
· China would surpass a broadcast equipment market size of US$ 693.4 million by 2032.
“Digital broadcasters are also investing in D2C content enhancements for linear TVs. They are trying to support television program infrastructure development. These include OTT, discovery+, Disney+, and paramount+. They want to air every piece of D2C platform content on different TV channels.” – Says a lead analyst at Future Market Insights.
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Competitive Landscape: Broadcast Equipment Market
There are numerous businesses that create products for broadcast equipment worldwide. The level of competition among these businesses would depend on their costs, reputation, or clientele.
By partnering with regional players, significant corporations are concentrating on increasing their geographic reach. A few others are working together and merging businesses to improve their situations.
For instance,
· In November 2021, Belden Inc. collaborated with Gravita Media to provide broadcasting infrastructure solutions. It would provide these to four locations in Qatar for the broadcast of FIFA World Cup 2022. The broadcast will be in 4K HDR. It will allow production teams to directly plug and play. Gravita Media will supply to multiple broadcasters such as BBC Wales and Fox Sports USA.
· In January 2021, Evertz Technologies Limited acquired Studer. The latter is an audio brand from Harman International. The iconic brand would help Evertz to better serve its clients in the broadcast market.
· In March 2020, Datum Systems released highly advanced Elements M7D Multi-Demod. It supports 64 Rx-channels. All of them are equipped with a single unit rack space.
Competitive Landscape
There are several companies in the world that manufacture broadcast equipment products. The cost, brand, or customer base of numerous companies would determine how fiercely they compete.
Several key companies are focusing on expanding their geographic presence by teaming up with local players. A few others are engaging in mergers & acquisitions and collaborations to strengthen their positions.
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Broadcast Equipment Market Outlook by Category
By Technology:
- Analog Broadcasting
- Digital Broadcasting
By Product:
- Dish Antennas
- Switchers
- Video Servers
- Encoders
- Transmitters and Repeaters
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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