Broadcasting equipment market estimated grow at USD 8.4 billion by 2030 with a CAGR of 6.1%

According to a comprehensive research report by Market Research Future (MRFR), “Broadcast Equipment Market” information by Technology, by Product, by Application and Region – Forecast to 2030” market size to reach USD 8.4 billion, growing at a compound annual growth rate of 6.1% by 2030.

The broadcast equipment market is poised to grow moderately. The evolution of media production over the past several years and rapid shifts to the cloud and software-as-a-service (SaaS) applications would drive the market growth. Advances in broadcasting technologies and the rising demand for quality high-definition live streaming content boost market revenues.

A larger part of industry revenues come from broadcast production centers. Huge developments in the telecommunication industry led by the increasing deployment of 4G and LTE networks drive the broadcasting equipment industry. Moreover, the rise in radio & TV broadcasting and social media channels influence the market value. OTT streaming, live sports, and online events accelerated during the COVID 19 pandemic, pushing the broadcast equipment market forward.

The broadcast equipment market has been witnessing a constant uptick over the past few months and will continue to grow further during the assessment period. The rising digitization has further increased the need for cloud-based apps & services and IoT devices.

Media and entertainment are one of the fastest-growing industries worldwide and the key end-user of broadcast equipment. Vastly growing media & entertainment industries drive this market. Additionally, augmenting demand from live streaming bolster the market growth.

Also, the growing demand for Ultra High Definition (UHD) content and the shift to cloud-based products, solutions, apps, and open architecture push the market growth. Furthermore, investments in broadband infrastructure with high-speed internet, demand for multi-screen video consumption and advances in over-the-top (OTT) content & services has added to the market growth.

North America dominates the global broadcast equipment market. There has been an enormous rise in the number of satellite and cable television channels in the region. Besides, the widespread internet penetration and high-speed network provisions offer significant opportunities, making the region a good choice for broadcasters for their expression.

The presence of key broadcast companies and equipment manufacturers, such as Comrex, USA, Arrakis Systems, Inc, Broadcast Electronics Inc., and Cisco Systems Inc., impacts the regional market growth positively. Moreover, the growing penetration of the internet, alongside the rise in satellite and cable TV channels, offers broadcasters several choices for their own political and creative expression.

Europe is the second-largest market for broadcasting equipment. Factors such as cultural diversity, the rise in broadcast channels, and the early & increasing adoption of technology are megatrends boosting the region’s market size. The UK, Germany, and Italy, with their rapidly growing broadcast equipment industry, dominate the regional market. The European broadcast equipment market is estimated to create a significant revenue pocket during the forecast period.

APAC has emerged as a significant market for broadcast equipment. Increased broadcast equipment manufacturing plants and production houses are major driving forces. Moreover, large numbers of electronic component manufacturers and advances in broadcasting and media technologies substantiate the region’s market shares.

Furthermore, increasing investments by equipment manufacturers for the development of high-quality audio & video equipment influence the market value of broadcast equipment. With their rapidly growing media and entertainment industries, Japan, India, and China account for notable shares in the regional market. The APAC broadcast equipment market is predicted to grow fastest over the forecast period. yahoo! finance