The global broadcast equipment market was valued at USD 4.6 billion in 2021 and is projected to reach USD 6.3 billion by 2027; it is anticipated to register a CAGR of 4.9% during the forecast period.
By technology, the digital broadcasting segment is projected to hold a higher CAGR of broadcast equipment market during the forecast period
The digital broadcasting segment is expected to grow at a higher CAGR during the forecast period of the broadcast equipment market. Digital broadcasting is the practice of using digital signals rather than analog signals for broadcasting over radio frequency bands. It has gained widespread traction, especially in digital television such as digital terrestrial television and satellite television.
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By product type, the encoder segment to hold the largest share of the broadcast equipment market in 2021
In 2021, the encoders segment held the largest share of the broadcast equipment market. Encoders are broadly used in digital broadcasting. Increasing demand for UHD content production and transmission has been recognized as one of the key factors that is driving the growth of the. Also, the rising number of digital channels is anticipated to offer major growth opportunities to emerging as well as established broadcast equipment ecosystem players in the near future.
By application, the television segment held a larger share of broadcast equipment market in 2021
The television application segment accounted for the larger share of the broadcast equipment market in 2021 and is expected to grow at a higher rate and dominate the market during the forecast period. The growing demand for IPTV and digital terrestrial broadcasting services, along with the existing terrestrial broadcasting and the increasing satellite broadcasting, has led to the rise in the demand for television broadcasting.
By region, APAC is projected to witness the growth at higher CAGR during the forecast period
The broadcast equipment market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be mainly attributed to the investments made by multinational and domestic entertainment and media companies across the region.
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Cisco Systems, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), CommScope (US), Evertz Microsystems, Ltd (Canada), Harmonic Inc. (US), EVS Broadcast Equipment (Belgium), Grass Valley (Black Dragon Capital) (Canada), Wellav Technologies Ltd (China), Eletec Broadcast Telecom S.A.R.L (France), Clyde Broadcast (UK) are some of the key players in the broadcast equipment market.