Broadcast Equipment Market Estimated to Reach $7.35 Billion Mark by 2026
(MENAFN – GetNews) The growing demand for various applications such as audio broadcasting in the end-user industries is being analyzed to stimulate the growth of the broadcast equipment market.
The global Broadcast equipment market is expected to exceed $ 7.35 billion by 2026, rising at an expected CAGR of more than 5.1% over the forecast period 2021 to 2026. The market will be driven by the availability of an alternative signal to audio devices via standard FM radio. The market for broadcast equipment will be strengthened by its high use in local production, along with exports and imports. The growing demand for various applications such as audio broadcasting in end-user industries is being analyzed to stimulate the growth of broadcast equipment. The significant adoption of Direct to home (DTH) for media and entertainment applications has a positive impact on market growth, as broadcasting equipment plays a crucial role in the communication aspect in providing subscribers with high quality content.
Analysis of the market segment of the broadcast equipment – by technology
The growing acceptance of smartphones and Internet equipment has led to an increase in the number of audiences on Internet radio, which leads to the growth of the global market for radio advertising. Because the radio show is easy to access, a new Cryptomania radio show has been launched in Boston to help people learn from online radio stations. This is constantly entering the mainstream of the educational process and will help the market grow progressively. For the past five years, cellular radiotelephones, pagers, cable television equipment, antennas, receivers and amplifiers have been a favorable source of entertainment and news. This factor favors market growth. This acceptance is due to the growing demand for audio streaming, which has enjoyed six times in the last eight years, according to Triton Digital.
Analysis of the market segment of the broadcast equipment – by products
The market is segmented by frequency, where the production and transmission of ultra-high resolution (UHD) content is increasing due to increased supply of D2C (Direct-to-Consumer) through OTT services. Multi-channel networks have increased the offer for video servers. These servers act as hosts and are used to deliver various content or videos. The broadcasting market mainly includes the production of communication equipment for television and broadcasting devices such as amplifiers, cable decoders, transceivers, transmitting antennas and modulators. A number of new retail, wildlife and lifestyle programs have been launched that serve niche audiences.
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Analysis of the market segment of the broadcast equipment – by geography
North America held the largest share of the broadcasting equipment market in 2020. The growing number of cable and satellite TV channels and the growing spread of the Internet have given TV operators many opportunities to continue to dominate the upcoming market. North America is leading with an increase in the number of broadcast channels, which in turn has boosted demand for radio equipment. Europe is also one of the potential markets for broadcasting equipment. The overall market is highly fragmented by several very large and medium-sized companies that offer media and entertainment solutions.
Drivers on the market for broadcast equipment
Switch to software-defined radio
Software-defined radio (SDR) is a type of radio communication system in which the software of an embedded system or personal computer is used for communication instead of applying hardware such as filters, amplifiers, mixers, detectors, demodulators and modulators, among others. In SDR, the data from the source is converted into digital format, the other activities are performed using software automated functions. Globally, the demand for software radios is driven by military programs to modernize different countries and a growing number of digital service users. However, the integration of the various subsystems is the key to the software-defined radio market.
Television and STB remain the main source of entertainment
An annual study titled American Time Survey, conducted by the Bureau of Labor Statistics, USA in 2019, found that watching television is a favorite pastime of Americans. Between 2015-2019, the average American spent 2 hours and 46 minutes watching television. These statistics reflect the need for growth in the TV market and the innovation of its product. The capitalization of this constant demand will stimulate market growth. According to the Telecommunications Regulatory Authority of India, in 2019 the consumer base of the set top box was 73.6 million, a number that has since progressed in an upward direction.
Challenges in the broadcasting equipment market
Covid-19 Prevents revenue generation for broadcast equipment
The outbreak of COVID-19 has a critical impact on the TV operator’s revenue, as companies around the world are reluctant to spend on advertising. Brands need to use their limited cash reserves, especially when demand is stifled when the economy shuts down. This is projected to continue until mid-2021 with a slight recovery thereafter, before the market resumes normal investment in 2023. Despite growing media consumption, the broadcasting equipment market has an industry that has been significantly hampered by the Covid pandemic. 19 no costs from end customers.
Product launches, acquisitions and research and development are key strategies adopted by market players for widespread equipment. Grass Valley, Ericsson, Cisco, Evertz Microsystems, Harmonic, Arris International, Beamr Imaging, EVS Broadcast Systems Sencore Clyde Broadcast (SA), AVL Technologies. And ETL Systems Ltd. are considered key players in the broadcasting equipment market.
Acquisitions / Technology Launch / Partnerships
In August 2019, Reliance Broadcast Network Limited, operated by FM radio networks brand BIG FM, was acquired by Music Broadcast Limited (MBL), which includes 40 FM radio stations for $ 150 million.
iHeartMedia announces acquisition of Athens-based, Greek-based online audio company Radiojar Information Technology SA Radiojar is a centralized, cloud-based audio playback platform and the acquisition will allow the industry to use Radiojar’s tools to seamlessly combine Broadcast Equipment and transfer these skillfully crafted listening experiences to other audio platforms.
Basic products for home
With the advancement of technology, the communication sectors are also moving to digital technologies. Correction and error detection techniques are easily applied in digital communication. Bandwidth consumption is also reduced and more simultaneous speech paths are built into a single digital radio channel.
The ease of purchasing digital media programmatically is that some agencies and advertisers require similar radio and television systems. By 2020, nearly $ 5 billion in television advertising spending is projected to be traded automatically.
Media and entertainment must dominate the broadcast equipment market due to the growing demand from the growing population. This is mainly due to the growing demand for internet and online streaming services such as Amazon Prime Video, Netflix, etc.
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