The global broadcast equipment market reached a value of US$ 4.86 Billion in 2021. Looking forward, according to Research and Markets to reach a value of US$ 6.74 Billion by 2027 exhibiting a CAGR of 5.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Broadcast equipment refers to a set of automated systems and devices utilized for broadcasting video or audio content through any electronic mass communication medium. It is widely employed in recording studios, radio stations and other facilities to ensure high-quality video and audio production and transmission in a time- and cost-efficient manner. Some of the commonly used broadcast equipment includes cameras, video servers, amplifiers, transmitters and repeaters, dish antennas, encoders, microphones, and modulators. Nowadays, leading manufacturers operating in the industry are launching advanced wireless broadcast equipment to expand their consumer base.
Broadcast equipment market trends:
The rising consumption of digital content among the masses due to the increasing penetration of smartphones, laptops and high-speed internet represents one of the primary factors driving the market. Besides this, the escalating demand for high-quality audio and video content is resulting in the production of ultra-high-definition (UHD) and 4K format content, which, in turn, is accelerating the adoption of advanced broadcast equipment for better viewing quality.
Additionally, leading players are heavily investing in the development of innovative product variants to attract more customers and gain a competitive edge in the market. They are also focusing on replacing conventional SDI-based environments with live production systems that provide high efficiency and system control. Furthermore, the recent outbreak of coronavirus disease (COVID-19) has led to a significant shift towards internet protocol (IP)- and cloud-based solutions. This, in confluence with the increasing number of over-the-top (OTT) subscriptions, is propelling the market growth. Moreover, the rising adoption of digital platforms, improving cloud infrastructure, advancements in the Internet of Things (IoT), and rapid digitization are some of the other factors creating a positive market outlook.
The competitive landscape of the industry has also been examined along with the profiles of the key players being AvL Technologies, Belden Inc., Broadcast RF Limited, Clyde Broadcast, ETL Systems Ltd, Evertz, EVS Broadcast Equipment, General Dynamics Corporation, Global Invacom, Grass Valley, Sencore (Wellav Technologies Ltd.) and Telefonaktiebolaget LM Ericsson.