In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Broadcasting equipment enables the broadcast of various events and are utilized to spread information and audio-video content through different mediums globally. Broadcasting equipment is accepted by various government and private organizations across the globe in order to provide information and to enhance the way of learning. Broadcasting is mainly done via wire or radio waves through transmission on television and radio. The mass communication mediums are used to broadcast the content and it is known as broadcasting equipment. Although, more secure and reliable solutions introduced by various manufacturers in the market for the broadcasting of content are gaining traction among end-use sector such as government institutes.
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. The business environments are changing rapidly in Asia-Pacific region on account of rapid digitalization. Growing need for business communications and broadcast learning and training are expected to gain maximum traction for broadcasting equipment. Moreover, rising number of digital channels which can be accessed from remote regions is increasing the demand for broadcasting equipment.
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. Moreover, rising investment in broadcasting services and upgradation of technology by government authorities are growing need for broadcasting equipment in various end-use industries.
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.
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Moreover, traditional TV broadcast segment accounted for USD 1,105.3 Million in 2015 and it is projected to register a CAGR of 7.4% during the forecast period i.e. 2016-2023. Traditional TV broadcast segment has accounted the largest share of 46.2% in 2015 and it is expected to maintain its dominance over the forecast period on account of availability of high definition and energy efficient television in the market. In product segment, routers sub-segment is expected to register a CAGR of 9.2% over the forecast period i.e. 2016-2023 due to advancement in router technology.
On the other hand, traditional radio broadcast segment has reached USD 565.2 Million in 2015. Furthermore, the market of traditional radio broadcast is anticipated to register a CAGR of 6.8% over the forecast period i.e. 2016-2023. Likewise, IP converged broadcast segment is estimated to be the fastest growing segment in Asia-Pacific broadcasting equipment market in near future. Shifting of population towards smartphones and high-end electronic gadgets is anticipated to be core reason for the growth of IP converged broadcast market.
Our in-depth analysis segmented the Asia-Pacific broadcasting equipment Market in the following segments:
Convergence of IP with broadcasting has increased the flexibility of media and production houses in Asia-pacific region. The Asia-Pacific broadcasting equipment market is vastly influenced by the growing trend of solutions related to open architecture. Moreover, rising penetration of smartphone users and increasing adoption of high-end gadgets such as tablets, laptops, etc. are the major growth drivers for this industry.
Apart from this, ease of spreading content through various broadcasting mediums to various masses is providing more opportunities to the key players to expand their portfolio of services. This will further increase the demand for broadcasting equipment in Asia-Pacific region during the forecast period i.e. 2016-2023. Further, the market of broadcasting equipment is also driven on the back of social media integration and growing broadcasting through various social media interfaces. Apart from this, rising digitization in Asia-Pacific region such as India, China, Japan, etc. due to rapid economic growth will intensify the need for broadcasting equipment to spread information among various end-use sectors in the 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.