Broadcast Equipment Market Set to Soar Past USD 7.32 Billion by 2030
The global Broadcast Equipment market size is expected to reach USD 7.32 billion by 2030 and exhibit a CAGR of 4.8% in the forecast period (2023−2030), according to Skyquest’s latest research report. The continual expansion of digital broadcasting, the demand for high-definition and ultra-high-definition (UHD) content production and transmission, the growth of over-the-top (OTT) and streaming services, increased investments in sports broadcasting and live events, and the need for advanced production and post-production equipment to meet evolving consumer preferences is fueling the market’s growth.
Westford, USA, Feb. 27, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Broadcast Equipment market, increasing adoption of virtual production and augmented reality (AR) technologies, the rise of remote and cloud-based production workflows, the continued migration from standard-definition to high-definition and UHD broadcasting, the growth of mobile journalism and content creation, and the integration of artificial intelligence (AI) and machine learning in content analysis and recommendation systems, are the trends that aid in the market’s growth.
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Browse in-depth TOC on the “Broadcast Equipment Market”
- Pages – 157
- Tables – 92
- Figures – 74
Broadcast equipment is the specialized hardware and software used to create and distribute audio and video content to a wide audience. It includes various devices, such as cameras, microphones, transmitters, mixers, and recorders. Broadcast equipment is used by radio and television stations, as well as by streaming services and other online content providers.
Prominent Players in the Broadcast Equipment Market
- Cisco Systems
- Ericsson
- CommScope
- Evertz Microsystems
- Harmonic
- EVS Broadcast Equipment
- Grass Valley
- Wellav Technologies
- Eletec Broadcast Telecom
- Clyde Broadcast
- Sony Electronics
- Panasonic
- Grass Valley
- Avid Technology
- Ross Video
- Imagine Communications
- Telestream
- Elemental Technologies
- DekTec
- Cobalt Digital
- Bridge Technologies
- Nevion
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Switchers Demand to Grow Substantially in the Forecast Period
Switchers dominated the global online market as they are crucial for live production and switching between different video feeds or sources. With the increasing number of live events, sports broadcasts, and news coverage, switchers remain essential for seamless content delivery.
Sports Production is the Leading Application Segment
In terms of application, the sports production is the leading segment due to the ever-growing popularity of sports events. The demand for high-quality live coverage, multiple camera angles, and advanced graphics and analysis tools has fueled the need for cutting-edge broadcast equipment.
North America is the leading Market Due to the Large Audience
Region-wise, North America is one of the largest growing markets with a huge audience. This is due to the expansion of media and entertainment industries, growing demand for high-quality content, and increased investment in broadcasting infrastructure. China, in particular, has seen significant development in the broadcast industry.
A recent report thoroughly analyzes the major players operating within the Broadcast Equipment market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the significant players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Broadcast Equipment.
Key Developments in Broadcast Equipment Market
- Avid Technology announced the release of Media Composer | Distributed Processing, a cloud-based editing solution that allows editors to offload time-consuming tasks to the cloud for faster workflows.
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Key Questions Answered in Broadcast Equipment Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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