Hyderabad, July 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Broadcast Equipment Market Report (2023-2028)," the market is estimated at USD 5.16 billion in 2023. It is expected to register a CAGR of 5.91% during the forecast period.
Broadcasting uses many formats and requires various equipment like transmitters, generators, and antennas. Even though broadcast media faces challenges due to the shift from television to digital media, the demand for high-quality audio and video has led to advancements in broadcast equipment, including UHD and 4K. The industry is transitioning to IP and cloud-based solutions for remote workflows and operational efficiency.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 5.16 billion |
| Market Size (2028) | USD 6.88 billion |
| CAGR (2023-2028) | 5.91% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing interest in sports. |
| Consumer demand for high-quality video and audio. | |
| Technological advancements. |
Who are the Top Companies in the Global Broadcast Equipment Market?
The competitive rivalry between various firms in the broadcast equipment market depends on price, product, and market share.
The significant players in the global broadcast equipment market in 2023 are,
- Cisco Systems Inc.
- Telefonaktiebolaget LM Ericsson
- Evs Broadcast Equipment SA
- Grass Valley
- Harmonic Inc.
- Clyde Broadcast
- Sencore Inc.
- Eletec Broadcast Telecom Sarl
- AVL Technologies Inc.
- ETL Systems Ltd
Other Reports That Might Be of Your Interest:
- Internet Protocol Television (IPTV) Market Report - The internet protocol television (IPTV) market size is expected to grow from USD 37.22 billion in 2023 to USD 88.78 billion by 2028, at a CAGR of 18.99% during the forecast period (2023-2028).
- Television and Set Top Box Market Report - The global television and set-top box market size in terms of shipment volume is expected to grow from 275.71 million units in 2023 to 361.02 million units by 2028, at a CAGR of 5.54% during the forecast period (2023-2028).
Key Highlights from the Global Broadcast Equipment Market Report:
Growth in Encoders Market
- Video encoders are required to convert analog or digital video to another digital video format for delivery. They are used for ISR, IPTV, and transmitting video over the internet or IP-based networks.
- Hardware encoders are preferred by professionals. Beginners and mid-level broadcasters prefer software encoders more.
- Factors like the increasing high-definition content, the shift to digital broadcasting, and the growth of OTT platforms are encouraging the demand for encoders. Encoders can also improve the video quality for subscribers.
Notable Growth in Asia-Pacific Region
- Densely populated countries like India and China in the Asia-Pacific region are rapidly adopting broadcasting technologies.
- Asia accounts for half of the world's internet users. The internet penetration in the region is expected to reach 72% soon. Countries like Vietnam, Iran, Bhutan, and Bangladesh are witnessing significant increases in internet penetration.
- Broadcast players from the region are investing heavily to gain more advantages in the market.
What are the Latest Developments in the Global Broadcast Equipment Market?
- In October 2022, Sony, in collaboration with Ideal Systems Group, provided Alaraby Television with an IP HD/4K-ready Live Production studio for the FIFA World Cup Qatar 2022. Sony offered two XV-S7000 multi-format video switchers, 11 4K HDC-3500 system cameras, and operability for mid-range productions.
- In May 2022, Sky Wire Broadcast developed into a one-stop shop for system integration consulting and services for broadcast and ed-tech customers in India.
Mordor Intelligence has Segmented the Global Broadcast Equipment Market Based on Technology, Product, and Geography.
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Analog Broadcasting
- Digital Broadcasting
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Dish Antennas
- Switches
- Video Servers
- Encoders
- Transmitters and Repeaters
- Other Products
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Broadcast Equipment Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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