The size of the global Broadcasting Equipment Market grew at a 6.6% CAGR from 2017 to 2020 and is anticipated to reach US$ 6.2 Bn in 2021.
Demand for broadcasting equipment is expected to top US$ 6.2 Bn in 2021. As per Persistence Market Research analysis, the market will register impressive growth at 9.4% CAGR from 2021 to 2031. With growing need for media files over the Internet, there has been a rise in the demand for high-speed connectivity. Increasing investments in high-speed broadband infrastructure is one of the major factors driving market growth.
With growing smart city initiatives, there has been a rise in the demand for connected devices, thereby driving demand for broadcasting equipment. Most commonly used broadcasting products include dish antennas, amplifiers, switches, video servers, encoders, transmitters & repeaters, and modulators, among others. Furthermore, increasing demand for over-the-top (OTT) services in developing countries is further anticipated to drive sales of broadcasting equipment.
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Key Takeaways from Market Study
- North America was the leading market in 2020 in terms of value for broadcasting equipment. Over the coming years, South Asia and Pacific is expected to be a key market for sustainable revenue, with rising demand for broadcasting equipment in the region.
- Video servers are expected to offer higher incremental opportunity during the forecast period, as demand for video broadcasting equipment is increasing significantly, owing to rise in demand for different forms of video-based entertainment.
- There has been a rise in the demand for broadcasting equipment owing to increasing transitional activities from analog to digital broadcasting.
- With growing popularity of digital broadcasting services, countries in Asia Pacific such as India, China, and Japan are expected to witness potential growth opportunities.
- The market in the U.S. is projected to expand at a CAGR of 8.7% through 2031, and is expected to continue its dominance over the coming years.
- China and India are expected to progress at an impressive CAGRs of 9.9% and 12.9%, respectively, through 2031.
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Persistence Market Research puts forward an unbiased analysis of the global Broadcasting equipment market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
To understand the opportunities in this space, the market is segmented on the basis of product (dish antennas, amplifiers, switches, video servers, encoders, transmitters & repeaters, modulators, and others), technology (analog broadcasting and digital broadcasting), and application (radio and television), across six major regions of the world.
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