Rapid Growth in Communication Sector to Foster the Asia Pacific Broadcasting Equipment Market Globally, according to our research report Asia-Pacific Broadcasting Equipment Market Outlook 2023.
Asia-Pacific broadcasting equipment market is segmented into system type. Among these types, IP converged broadcast system is expected to showcase the maximum growth in near future on the back of increasing number of smartphone users and growing trend of handy gadgets. Moreover, presence of various content broadcasters such as YouTube and other social networks are the major factors responsible for the positive growth of this segment. Asia-Pacific broadcasting equipment market was valued at USD 2,565.2 Million in 2015. Further, the market is expected to register a CAGR of 8.4% during the forecast period i.e. 2016-2023 on the back of increasing digitization across the region and rising adoption of advanced broadcasting equipment such as HD and Ultra-HD TV’s. Traditional TV broadcast segment has accounted the largest share of 46.2% in 2015 and it is expected to remain its dominance over the forecast period on account of availability of high definition and energy efficient television in the market.
Growth in Communication Sector:
Technological advancements in IT and communication technology are growing across the globe which helps to provide better communication services. These services will further provide ease to the broadcasting technology to broadcast numerous information and content to the end-users across the globe. Rising advancement in electronics industries and rapid expansion of tele-communication sectors are the major factors for the positive growth of broadcasting equipment in Asia-Pacific region.
Advancement in Broadcasting Equipment:
Rising penetration of smart gadgets along with advanced internet services are propelling the demand for broadcasting equipment market. Broadcasting equipment introduced by manufacturers that have various advanced functionalities is increasing the popularity of this equipment in Asia-Pacific region. Convergence of IP with broadcasting has led to increase in the flexibility of media and production houses in Asia-pacific region.
Conversely, low electricity penetration in undeveloped nations, slow adoption of broadcasting equipment in government organizations and availability of other sub-standardized substitutes are some of the major factors which are hindering the growth of broadcasting equipment in Asia-Pacific region.
The report titled “Asia-Pacific Broadcasting Equipment Market Outlook 2023” delivers detailed overview of the Asia-Pacific broadcasting equipment market in terms of market segmentation by System Type, by Product Type and by End-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Asia-Pacific Broadcasting Equipment Market which includes company profiling of Media Excel Inc., ChyronHego Corporation, TVU Networks Corporation, XOR Media Inc., ORACLE Corporation,Unlimi-Tech Software Inc. and Grass Valley,etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Asia-Pacific Broadcasting Equipment Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stake holders to align their market centric strategies according to the ongoing and expected trends in the future.