The “Broadcast Equipment Market with COVID-19 Impact Analysis by Technology (Analog Broadcasting, Digital Broadcasting), Product Type (Dish Antennas, Switches, Encoders, Video Servers), Application (Radio, Television) and Geography – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global broadcast equipment market was valued at USD 4.6 billion in 2021 and is projected to reach USD 6.3 billion by 2027, registering a CAGR of 4.9% from 2022 to 2027. The broadcasting transition from analog to digital, rapid growth in over-the-top (OTT) subscriptions, and growing demand for encoders are the major driving factors for the growth of the broadcast equipment market.
The digital broadcasting segment expected to grow with a higher CAGR during the forecast period
The digital broadcasting segment accounted for the larger share of the broadcast equipment market in 2021. The segment is also expected to grow at a higher CAGR during the forecast period. Many sports associations and television broadcasters are taking initiatives to broadcast various sports activities such as rock climbing, cricket, football tennis, among others, on linear TVs across the world. These players are extensively adopting inorganic growth strategies to sustain their business position and strengthen their customer base. These factors are expected to accelerate the growth of digital broadcasting technology in the near future.
The video servers segment is expected to record the highest CAGR of broadcast equipment market during the forecast period
The video servers segment is expected to record the highest CAGR of 7.2% during the forecast period. The rising number of OTT streaming platforms, rise in digitization, and various technological advancements, including superior video codec, web-based real-time communication, captioning, indexing, and transcoding and aggregation, are some of the factors expected to create lucrative opportunities for the growth of video servers in the near future.
The television segment held a larger share of the broadcast equipment market, and this trend is expected to continue during the forecast period.
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 increasing direct-to-consumer (D2C) offerings through over the top (OTT) services, such as YouTube, Netflix, and Amazon Prime, include a lot of content that are viewed worldwide. The growing demand for such broadcasting services, along with the existing terrestrial broadcasting and the increasing satellite broadcasting, has led to the rise in the demand for television broadcasting.
Based on region, North America held the largest share of the broadcast equipment market in 2021
The North America region accounted for the largest share of the broadcast equipment market in 2021. The increasing number of satellite and cable television channels and the rapidly growing base of internet users have prompted broadcasters in the region to offer high-quality content to viewers. Globe Newswire