Market synopsis
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 size. 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.
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 size 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.
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Key players
Some of the prominent players in the global broadcast equipment market include Cisco Systems Inc (U.S.), Ericsson AB (Sweden), Evertz Microsystems, Ltd (Canada), Grass Valley (Canada), EVS Broadcast Equipment SA (Belgium), Harmonic Inc (U.S.), Clyde Broadcast (U.K), Sencore (U.S.), Acorde Technologies, S.A (Spain), AvL Technologies (U.S.), ETL Systems Ltd (U.K), Global Invacom Ltd (Singapore) among others.
The key players constantly keep innovating and investing in research and development for cost-effective product portfolio. The global broadcast equipment market also includes innovators implementing and developing new technologies for broadcast.
Global Broadcast Equipment, USD Billion
Broadcast Equipment Market Image
Regional Analysis
On the basis of the geography, the market is segmented into North America, Europe, Asia Pacific and rest of the world. Among these regions, North America is expected to dominate the market during the forecast period due to a huge presence of broadcasting companies located in countries like the U.S. and Canada. Also, the U.S. market has a strong hold over the broadcast equipment market with the presence of satellite manufacturers and a wide media and the entertainment industry.
The Asia Pacific region, on the other hand, is expected to grow at a fast rate. This growth is due the rich presence of electronic component manufacturing enterprises constantly developing the technologies in the space of broadcast media. The countries like China, India, and Japan have a growing presence of media and entertainment industry with ever expanding film industry. Also, the growing demand for consumers for high quality videos and audio over television and radio is another factor driving the growth of the market in Asia Pacific.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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