Broadcasting Equipment Market size was valued at USD 5.29 billion in 2023 and is poised to exceed USD 10.48 billion by the end of 2036, registering over 5.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of broadcasting equipment is evaluated at USD 5.52 billion.
The growth of the market can be attributed to the increase in the number of users of smart devices, rise in demand for the production of ultra HD content and surge in investment in high speed broadband infrastructure. As per our analysis, the total number of smartphone users worldwide are estimated to grow by approximately 1 billion in the year 2023, up from 3.5 billion users in the year 2020. Along with these, growing number of digital channels, and shift in preference to use software oriented systems are anticipated to provide opportunities to the growth of the market.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.4% |
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Base Year Market Size (2023) |
USD 5.29 billion |
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Forecast Year Market Size (2036) |
USD 10.48 billion |
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Regional Scope |
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The market is bifurcated by application into radio and television, out of which, the television segment is projected to hold the largest share in the broadcasting equipment market on account of ongoing advancements in display and audio technologies, and increasing number of end-users. Furthermore, on the basis of product, the market is segmented into video server, digital broadcasting, encoder and dish antenna. The segment for encoder is evaluated to occupy the largest market share owing to high reliability and accuracy, low replacement cost and compact size of encoders. However, the video server segment is assessed to grow with a notable CAGR. This can be credited to the increase in number of over-the-top (OTT) streaming platforms and the upsurge in digitization.
Our in-depth analysis of the global market includes the following segments
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By Product |
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By Application |
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By Technology
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North America Market Statistics
On the basis of regional analysis, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America region is estimated to garner the largest market share over the forecast period on the back of increasing internet penetration, growing adoption of sophisticated broadcasting technologies and the rise in number of cable channels. Similarly, the market in Europe is also expected to hold a significant market share during the forecast period as a result of emergence of advanced audio/visuals technology and presence of leading market players.
APAC Market Analysis
Additionally, Asia Pacific’s market is projected to offer significant growth opportunities to the market accounting to the high usage of electronic devices, namely, smartphones and laptops, and the intensifying increase in the number of internet users in the region, especially in China and India. Our analysis shows that China accounts for more than 35% of total internet users in the Asia continent.
Author Credits: Abhishek Verma
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