Broadcasting equipment such as studio cameras, master control switchers, routers, and intercom systems are essential for the production and delivery of high quality audio and video content. The growing demand for live streaming and online video content across OTT platforms is fueling the need for advanced broadcasting solutions in the region. The Asia Pacific broadcasting equipment market caters to various industries such as sports, media & entertainment, education, healthcare, and corporate sectors.
The global Asia Pacific Broadcasting Equipment Market is estimated to be valued at US$ 4040.14 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for high quality content is one of the key trends driving growth of the Asia Pacific broadcasting equipment market. Viewers nowadays prefer content delivered in 4K and higher resolutions with HDR support for an immersive viewing experience. This has prompted broadcasting service providers and content creators to upgrade their infrastructure and invest in advanced broadcasting solutions. Major sports leagues and live event organizers are also adopting cutting-edge IP-based transmission technologies to broadcast live games and programs in ultra-high definition. The proliferation of 5G network infrastructure in the region is further expected to accelerate this shift towards advanced broadcasting standards and technologies.
Segment Analysis:
The Asia Pacific broadcasting equipment market is dominated by the production segment which accounts for over 35% of the overall market share. This is due to the large number of television channels and radio stations in countries like India, China, Japan, and South Korea who invest heavily in broadcast equipment for content production purposes. Broadcasters prefer using high-end broadcasting solutions for tasks like video production, audio mixing, master control and streaming which drives the demand for production equipment.
Key Takeaways:
The Global Asia Pacific Broadcasting Equipment Market Size is estimated to be valued at US$ 4040.14 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to witness the fastest growth in the broadcasting equipment market during the forecast period. Countries like India and China are driving the demand as they have a huge population with increasing disposable incomes. This has encouraged private broadcasters to launch new television and radio channels over the last few years. Additionally, large scale sporting events and international tournaments held in countries like India provide opportunities for broadcasters to invest in newer technologies.
Key players operating in the Asia Pacific Broadcasting Equipment market are Media Excel Inc., Bridge Technologies Co AS, ChyronHego Corporation, Nevion Europe AS, TVU Networks Corporation, Enesys Technologies, XOR Media Inc., Pebble Beach Systems Limited, FOR-A Company Limited, BroadStream Solutions Inc., Oracle Corporation, General Dynamics Mediaware, Unlimi-Tech Software Inc., Tedial S.L., and Grass Valley Canada. Major players are focusing on developing advanced solutions and establishing partnerships with regional broadcasters to strengthen their market presence.
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The worldwide market for broadcast equipment is considered to be driven by different aspects, for example, the changeover from simple to advanced broadcasting, expanding concentration on generation automation, developing acknowledgment of HD globally and increasing figure of digital stations.
One of the main aspect adding to the market expansion is the expanding the requirement for HD programming and better approaches to disperse the content, for example, mobile TV and internet protocol television (IPTV) is rapidly deploying and developing.
Government regulations are enforced with respect to digitalization is likewise anticipated to fuel the market.Moreover, with the immense expansion in several tablets and smartphones, the development prospects of video services have expanded extensively recently.
Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124761/Broadcasting-Equipment-Market Although irregularity in content circulation, higher cost of broadcasting equipment, for example, audio-video mixers, cables and cameras, the vast capital cost is required while putting in the new broadcast facility along with the absence of standardized ways in content circulation are a few of the aspects that are limiting this market.
Moreover, rivalry among the sellers in the worldwide market has expanded remarkably.
North America and Europe are considered to be the most lucrative market owing to the adoption of advanced technology as well as more of the organization’s involvement in R programs to maintain peace with the competition.
The global broadcasting equipment market is anticipated to grow at a modest CAGR over the forecast period, i.e., 2021 – 2029 owing to the rise in number of smart device users, growing investment in high speed broadband infrastructure, escalating number of digital channels and the increasing demand for producing high definition (HD) content.
It was evaluated that more than 530 million people around the globe subscribed to OTT services in 2019.
This number of subscribers increased up to approximately 590 million in the year 2020.The market is segmented on the basis of product, application and technology.
By product, the segment for encoder is projected to occupy a notable share in the market on the back of characteristics such as high reliability, low replacement cost, compact size and accuracy in converting analog signals to digital television signals.Geographically, the broadcasting equipment market is segmented into five major regions, namely, North America, Europe, Latin America, Asia Pacific and the Middle East & Africa.The markets in North America and Europe are estimated to grab significant share during the forecast period accounting to the increasing internet penetration and the presence of leading market players in the regions.
Furthermore, Asia Pacific is evaluated to be the most futuristic market as a result of increase in total internet users in the recent years.Surge in the Number of Smart Device UsersOur statistical analysis reveals that approximately 4.5 billion people in the world are expected to own a smartphone by the end of 2023, up from 3.5 billion of global population in the year 2020.
The rapid growth in the number of smart devices users, in general, is expected to be the chief reason for the growth of the market.However, stringent rules and protocols associated with the broadcasting of sensitive contents is expected to operate as key restraint to the growth of the broadcasting equipment market over the forecast period.This report also provides the existing competitive scenario of some of the key players of the global broadcasting equipment which includes company profiling of Cisco Systems, Inc. (NASDAQ: CSCO), Harmonic Inc. (NASDAQ: HLIT), Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC), Evertz Technologies Limited (OTCMKTS: EVTZF), Eletec Radio Broadcasting Equipment & Transmitters, Clyde Broadcast Technology Ltd, EVS Broadcast Equipment SA (OTCMKTS: EVSBY), AvL Technologies, Inc., Grass Valley Canada, Sencore, and others.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.On the whole, the report depicts detailed overview of the broadcasting equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
