MUMBAI: The global broadcast equipment market is expected to expand from USD 4.38 billion in 2017 to USD 5.82 billion by 2023, at a CAGR of 4.87 per cent between 2017 and 2023.
Although North America is expected to hold the largest market share, the broadcast equipment market in APAC is likely to witness the highest growth rate between 2017 and 2023. The major players in the broadcast equipment market include Cisco Systems, Inc. (US), Ericsson AB (Sweden), Harmonic Inc. (US), Evertz Microsystems, Ltd. (Canada), and Grass Valley (Canada).
The CAGR projection has been done by MarketsandMarkets, which provides quantified B2B research on 30,000 high-growth niche opportunities/threats with the help of 850 fulltime analysts and SMEs, in recently published report titled: "Broadcast Equipment Market -- by application, technology, products and geography - to 2023."
The rising demand for ultra high definition (UHD) content production and transmission, radical shift of products from hardware oriented to software and open architecture based, and increasing D2C offerings through OTT services and multi-channel networks in developed economies are some of the factors driving the growth of the broadcast equipment market.
Increasing use of video servers to store and play out multiple video streams to drive the growth of broadcast equipment market
The broadcast equipment market, on the basis of product, has been segmented into dish antennas, amplifiers, switchers, encoders, video servers, transmitters and repeaters, modulators, and others.
The market for video servers is likely to grow at the highest rate between 2017 and 2023. The increasing number of broadcasters offering direct-to-consumer (D2C) propositions through OTT services, along with traditional distribution routes, is fueling the growth of the market for video servers. In broadcasting, servers act as hosts and are used to deliver various contents or videos. These servers are used to store and play out multiple video streams without degrading the video signals.
Broadcast video servers often store hundreds of hours of compressed audio and video (in different codecs), play out multiple and synchronized simultaneous streams of videos, and also ensure quality interfaces such as SDI for digital video and XLR for balanced analogue audio, and AES/EBU digital audio.
Market for digital broadcasting expected to grow at a high rate between 2017 and 2023
The market for digital broadcasting is expected to grow at a high rate between 2017 and 2023. Digital broadcasting offers several advantages over analogue broadcasting, including choice of programming and services such as additional channels, HD offerings, radio data services, and pay programs. It also allows consumers to avail better quality content with considerably lesser signal interference, without compromising on picture quality.
North America held the largest share of the broadcast equipment market in 2016. The increasing number of cable and satellite television channels and the rising penetration of the Internet have provided broadcasters with many choices for their own creative and political expression. The growing cultural diversity throughout North America has also led to the increase in the number of broadcast channels, which, in turn, has boosted the demand for broadcast equipment in this region. Europe is also one of the potential markets for broadcast equipment. The broadcast equipment market in APAC is expected to grow at the highest rate between 2017 and 2023.
MarketsandMarkets research claims to impact 70-80 per cent of worldwide companies' revenues. It is currently servicing 5000 customers including 80 per cent of global Fortune 1000 companies.
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What's driving the APAC broadcasting equipment market's growth
