Breaking News: Broadcast Equipment Market Booms Worldwide, Set to Reach USD 34.6 Billion by 2030
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London, UK – February 24, 2023 – The broadcast equipment market is witnessing a staggering surge in global demand, driven by the growing need for high-quality content creation, transmission, and distribution. According to a latest market analysis, the global broadcast equipment market is forecast to reach USD 34.6 billion by 2030, expanding at a remarkable Compound Annual Growth Rate (CAGR) of 8.3% during the 2023-2030 period.
The broadcast equipment market includes a broad range of products and services, such as audio and video equipment, broadcasting systems, digital terrestrial television (DTT), and satellite broadcasting. The rising adoption of advanced technologies like 5G, artificial intelligence (AI), and Internet of Things (IoT) is expected to propel the growth of the market.
Key Market Highlights:
- The global broadcast equipment market was valued at USD 21.1 billion in 2022 and is anticipated to grow at a CAGR of 8.3% during the forecast period.
- Satellite broadcasting accounted for the largest market share in 2022, driven by the increasing demand for high-quality content transmission.
- Digital terrestrial television (DTT) is expected to register the highest growth rate during the forecast period, driven by the growing adoption of DTT broadcasting in emerging markets.
- The Asia Pacific region is expected to emerge as a prominent market for broadcast equipment, driven by the growing demand for high-quality content in countries like China, Japan, and India.
Industry Insights:
- The broadcast equipment market is characterized by the presence of key players, including Sony Corporation, Eutelsat S.A., and Ericsson AB.
- Mergers and acquisitions, as well as partnerships and collaborations, are expected to be key strategies adopted by players in the market to stay ahead of the competition.
- The growing need for high-quality content creation and transmission is expected to drive the demand for advanced broadcast equipment and services.
Forecast Segments:
- By Product Type: Audio Equipment, Video Equipment, Broadcasting Systems, Digital Terrestrial Television (DTT), and Satellite Broadcasting.
- By End-Use: Television Broadcasting, Radio Broadcasting, Mobile Broadcasting, and Others.
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Conclusion:
The broadcast equipment market is poised for significant growth in the coming years, driven by the increasing demand for high-quality content creation, transmission, and distribution. The growth of the market is expected to be fueled by the adoption of advanced technologies, rising demand for digital terrestrial television (DTT), and satellite broadcasting.
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Important Note: The article above is intended for informational purposes only and is not intended to be a professional opinion or a trade recommendation. The forecast and analysis contained in the article are based on publicly available information and are subject to change based on new information or market conditions.
The ~global broadcast equipment market~ is projected to grow at a significant CAGR during the forecast period The key factors that drive the growth of the market include the rising number of devices integrated with the digital media as well as increased internet penetration. This has leveraged the customers with an option to access media content individually in terms of entertainment, social activity, and information at any time and anywhere. Further, an increase in the demand for the ultra-high definition content production and its effective transmission drives the growth of the market. The radical shift towards the software-oriented systems from hardware and open architecture-based systems also supports market growth.
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Moreover, rising demands for direct to consumer (D2C) offerings via multi-channel networks and over the counter services in both developing as well as developed economies are likely to improve the global broadcast equipment market during the forecast period. Additionally, online media content has also increased from the past decade. In addition, as per the Cisco VNI report 2017, 80% of internet traffic is generated from the video-streaming segment. Thus, rising mobile devices is making it easier for consumers to access music and video content on the go, and thus, it creates a wide scope for market growth during the forecast period.
full report of Broadcast Equipment Market available @ https://www.omrglobal.com/industry-reports/broadcast-equipment-market
· Market Coverage
· Market number available for – 2024-2031
· Base year- 2024
· Forecast period- 2024-2031
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Global Broadcast Equipment Market – Segmentation by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global broadcast equipment market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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