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Broadcast Equipment Market worth $6.3 billion by 2027 - Exclusive Report by MarketsandMarkets™
Transition from analog to digital broadcasting is propelling the demand for broadcast equipment worldwide.
The digital broadcasting segment is expected to grow at a higher CAGR during the forecast period of the broadcast equipment market. Digital broadcasting is the practice of using digital signals rather than analog signals for broadcasting over radio frequency bands. It has gained widespread traction, especially in digital television such as digital terrestrial television and satellite television.
In 2021, the encoders segment held the largest share of the broadcast equipment market. Encoders are broadly used in digital broadcasting. Increasing demand for UHD content production and transmission has been recognized as one of the key factors that is driving the growth of the. Also, the rising number of digital channels is anticipated to offer major growth opportunities to emerging as well as established broadcast equipment ecosystem players in the near future.
The television application segment accounted for the larger share of the broadcast equipment market in 2021 and is expected to grow at a higher rate and dominate the market during the forecast period. The growing demand for IPTV and digital terrestrial broadcasting services, along with the existing terrestrial broadcasting and the increasing satellite broadcasting, has led to the rise in the demand for television broadcasting.
Broadcast Equipment Market"
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The broadcast equipment market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be mainly attributed to the investments made by multinational and domestic entertainment and media companies across the region.
Cisco Systems, Inc. (US), Telefonaktiebolaget LM Ericsson ( Sweden ), CommScope (US), Evertz Microsystems, Ltd ( Canada ), Harmonic Inc. (US), EVS Broadcast Equipment ( Belgium ), Grass Valley (Black Dragon Capital) ( Canada ), Wellav Technologies Ltd ( China ), Eletec Broadcast Telecom S.A.R.L ( France ), Clyde Broadcast (UK) are some of the key players in the broadcast equipment market.
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