Broadcast Equipment Market Growing at the Fastest Rate in North America Region
Posted by edwardzmusso on March 21st, 2022
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. Heightened demand for encoders to support multiple formats is propelling the demand for broadcast equipment worldwide.
The digital broadcasting segment accounted for the larger share of the broadcast equipment market in 2021. The segment is also expected to grow at a higher CAGR during the forecast period. The market is driven by continuous developments in signal broadcasting over the years across the world and increasing focus of television and radio broadcast companies on digital broadcasting over analog broadcasting. Also, digital broadcasting technology has transitioned from digital video broadcasting-T (DVB-T) + multimedia content description standard 2 (MPEG2) to DBV-T2 + MPEG7. The second generation of DVB-T2 offers various features such as increased transmission capacity and ruggedness in the terrestrial transmission environment.
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In 2021, the encoders segment held the largest share of the broadcast equipment market, and a similar trend is likely to be observed during the forecast period. The leading position of the encoders segment can be attributed to the rising demand for cost-efficient and advanced broadcasting equipment along with increasing demand for ultra high definition (UHD) content production and transmission. Also, the growing popularity of high-efficiency video coding (HEVC) standards propels the demand for broadcasting equipment, including encoders, in the market. In addition, the introduction of multi-channel video encoders has allowed users to generate multiple streams, resulting in reduced hardware.
On the other hand, the video servers segment is expected to record the highest CAGR of 7.2% during the forecast period. Rising number of OTT streaming platforms, rise in digitization, and various technological advancements, including superior video codec, web-based real-time communication, captioning, indexing, and transcoding and aggregation, are some of the factors expected to create lucrative opportunities for the growth of video servers in the near future.
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. This growth can be attributed to the ongoing technological advancements in television display and audio & video signal broadcasting, rising number of end users, and organization of various sports events like the Tokyo Olympics and the Union of European Football Associations (UEFA) Championships. Moreover, the increasing direct-to-consumer (D2C) offerings through over the top (OTT) services, such as YouTube, Netflix, and Amazon Prime, include a lot of content that are viewed worldwide. The growing demand for such broadcasting services, along with the existing terrestrial broadcasting and the increasing satellite broadcasting, has led to the rise in the demand for television broadcasting.
The North America region accounted for the largest share of the broadcast equipment market in 2021. The increasing number of satellite and cable television channels and rapidly growing base of internet users has prompted broadcasters in the region to offer high-quality content to viewers. Also, the online platforms in North America are expanding at a high rate and including new innovative technologies designed to enhance personalized user experience. These factors are anticipated to offer major growth opportunities to emerging as well as established players in the broadcast equipment market in the region.
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Joined: February 8th, 2021
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