Broadcast Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (202Posted by Statzy Market Research on May 21st, 2021 The growing number of devices capable of supporting digital media along with increases in access to high-speed internet has provided consumers with an option to access the media content of their own choice in terms of information, entertainment, or social activity anywhere, anytime. - The rising demand for the over-the-top (OTT) application through an app or service that is availed over the internet, thereby bypassing the traditional distribution practices. Services that are available for over the top services are significantly related to the media and communication sector, which can be accessed with lower cost as compared to the traditional method of delivery. - Online media content consumption has shown tremendous growth over the recent past. There is a surging demand for mobile devices as the preferred medium of consuming online media. The smartphone market has seen unparalleled growth in the last 5 years. Also, according to the Cisco VNI report, 2017, 80% of internet traffic is generated from the video-streaming segment. An increase in the number of mobile devices is making it easier for consumers to access music and video content on the go, thereby driving the demand broadcast equipment during the forecast period. - The recent coronavirus outbreak is having a critical impact on the broadcasting industry as firms across the globe have been reluctant to spend on ads. The brands are being reluctant to use their limited cash reserves on ads, especially when they know that this won't create any demand in an economy shut down. - Moreover, sports has been the biggest draw for TV viewers across the globe, finding ways to deliver the video content at scale and on rapidly increasing number of devices and formats present multiple challenges for broadcasters, service providers, content owners, and rights holders. Free Sample report for this report is available :- https://www.statzyreports.com/report/sr498743/broadcast-equipment-market Key Market Trends - In multiple countries, there has been increasing adoption of digital content owing to better picture quality that includes HDTV and the introduction of interactive services. Some of the other factors that are driving the demand for broadcast equipment include the increase in video quality of the display, the rise in the number of digital channels, increase in the use of smartphones and portable devices. Also, advanced video qualities like ultrahigh definitions, 4K, and 8K provide users with premium video display experience, which is also promoting market growth. - The digital broadcasting's data broadcasting capability has added many more features such as it has enabled the viewers to check out player statistics and get weather forecasts, news, and other information while watching a different program. - Government initiatives is also helping the market to grow, For instance, the Telecom Regulatory Authority of India (TRAI) has recently urged the government to release a detailed policy framework for digital radio broadcasting. Moreover, the policy should also include a comprehensive road map for the roll-out of these services in a time-bound manner. - The rising cultural diversity across the region is also one of the primary factors that have led to an increase in the number of digital channels, which in turn is boosting the demand for broadcast equipment in the region. - The online platform in the North American region is expanding at a very fast rate with the inclusion of new innovative technologies primarily meant to enhance personalized user experiences. - Major players operating in the broadcast and digital media sectors in this region are increasingly innovating new technologies and generating new content to increase their revenue in their online platforms that offers hours of media-related content, such as music and films. - October 2019 - Evertz, a prominent player in media and entertainment technology solutions, partnered with CBS for "Dabl†the network’s new digital lifestyle channel hosted in the public cloud using the company's advanced Mediator-X and Overture Playout solutions. For sample report please visit : https://www.statzyreports.com/report/sr498743/broadcast-equipment-market Like it? Share it! More by this author |