Broadcasting Equipment Market Size

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.