The broadcasting equipment market is estimated to grow at a modest CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the increase in the number of users of smart devices, rise in demand for the production of ultra HD content and surge in investment in high speed broadband infrastructure. As per our analysis, the total number of smartphone users worldwide are estimated to grow by approximately 1 billion in the year 2023, up from 3.5 billion users in the year 2020. Along with these, growing number of digital channels, and shift in preference to use software oriented systems are anticipated to provide opportunities to the growth of the market. For instance, in 2019, it was evaluated that more than 530 million people subscribed to OTT services globally. This number increased up to around 590 million in 2020.
The market is bifurcated by application into radio and television, out of which, the television segment is projected to hold the largest share in the broadcasting equipment market on account of ongoing advancements in display and audio technologies, and increasing number of end-users. According to the data collected from external sources, more than 1.6 billion televisions were purchased in 2019. Furthermore, on the basis of product, the market is segmented into video server, digital broadcasting, encoder and dish antenna. The segment for encoder is evaluated to occupy the largest market share owing to high reliability and accuracy, low replacement cost and compact size of encoders. However, the video server segment is assessed to grow with a notable CAGR. This can be credited to the increase in number of over-the-top (OTT) streaming platforms and the upsurge in digitization.
On the basis of regional analysis, the broadcasting equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America region is estimated to garner the largest market share over the forecast period on the back of increasing internet penetration, growing adoption of sophisticated broadcasting technologies and the rise in number of cable channels. Similarly, the market in Europe is also expected to hold a significant market share during the forecast period as a result of emergence of advanced audio/visuals technology and presence of leading market players. Additionally, Asia Pacific’s market is projected to offer significant growth opportunities to the market accounting to the high usage of electronic devices, namely, smartphones and laptops, and the intensifying increase in the number of internet users in the region, especially in China and India. Our analysis shows that China accounts for more than 35% of total internet users in the Asia continent. CLICK TO DOWNLOAD SAMPLE
The broadcasting equipment market is further classified on the basis of region as follows:
Our in-depth analysis of the broadcasting equipment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing number of smart device users and rising investment in advanced broadband architecture are the key factors driving market growth.
The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021 – 2029.
Strict rules regarding the broadcasting of sensitive contents is estimated to hamper market growth.
Asia Pacific region is anticipated to provide more business opportunities to the market owing to the increase in number of internet users.
The major players in the market are Cisco Systems, Inc., Harmonic Inc., Sencore, Evertz Technologies Limited and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, application, technology, and by region.
The television segment is anticipated to hold the largest market size and is estimated grow at a significant CAGR over the forecast period and display significant growth opportunities.
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