The global broadcast equipment market is expected to exhibit a strong 6% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report estimates the global broadcast equipment market to reach a valuation of USD 6 billion by 2023. The report makes note of the major drivers and restraints affecting the global broadcast equipment market, providing readers with a complete overview of the major motivators acting on the market. Leading players in the global broadcast equipment market are also examined in the report, giving readers a comprehensive overview of the competitive landscape of the market. The impact of the COVID-19 pandemic on the global broadcast equipment market is also examined in the report.
Broadcast equipment is equipment used to broadcast audiovisual signals. The widespread popularity of television and radio has been the major driver for the broadcast equipment market. Television and radio have long been the primary pillars of entertainment for the masses. Since their invention in the 20th century, both media of television and radio have grown enormously to cover the world. They are used for infotainment by masses all over the world, leading to growing demand for broadcast equipment. Growing coverage of television and radio in developing regions has been a major driver for the global broadcast equipment market. With growing urbanization in Asia Pacific, the Middle East, and Latin America, television and radio equipment has become vital in these regions, leading to growing development of the broadcast equipment market.
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Many consumers use radio for entertainment during their commutes, while housewives have long been a major consumer group for radios. Television sets are also popular all over the world due to the growing popularity of TV shows and sports events. The growing disposable income of consumers in emerging regions has led to increasing investment in the development of high-quality television and radio programming, leading to increasing popularity of television and radio. This has led to a growing demand for broadcast equipment and is likely to remain the major driver for the market over the forecast period.
Innovation in broadcast equipment is also likely to remain a major driver for the global broadcast equipment market over the forecast period. With increasing disposable income of consumers, the demand has grown for high-quality broadcasting that provides content in high resolution. The increasing use of high-resolution TV sets has also led to growing demand for HD and higher-quality television programming, leading to a consequent demand for higher-quality broadcast equipment. This is likely to remain a major driver for the global broadcast equipment market over the forecast period.
Leading players in the global broadcast equipment market include Global Invacom Ltd., ETL Systems Ltd., AvL Technologies, Acorde Technologies SA, Sencore, Clyde Broadcast, Harmonic Inc., EVS Broadcast Equipment SA, Grass Valley, Evertz Microsystems Ltd., Ericsson AB, and Cisco Systems Inc.
The global broadcast equipment market is segmented on the basis of application, product, technology, and region.
By application, the global broadcast equipment market is segmented into radio, television, direct broadcasting satellite (DBS), cable television, and IPTV.
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By product, the global broadcast equipment market is segmented into dish antenna, amplifier, switches, video servers, encoders, transmitters and repeaters, and modulators.
By technology, the global broadcast equipment market is segmented into analog and digital.
North America is the leading regional market for broadcast equipment and is likely to retain its dominance over the forecast period. The strong presence of broadcasting giants in the region has led to the creation of a strong manufacturing industry for broadcast equipment. The widespread coverage of radio and television companies in the U.S. and Canada is likely to be a major driver for the global broadcast equipment market over the forecast period. The growing popularity of IPTV in North America is also likely to be a major driver for the global broadcast equipment market over the forecast period.
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