NEW YORK—A new report from Persistence Market Research on the broadcast equipment market predicts that it will top $ 6.2 billion in global sales in 2021, up 7.7% from 2020, and that growth will be even faster in years ahead, growing at 9.4% CAGR through 2031, when the market will be worth $15 billion.
That is an improvement over earlier years, when the global broadcasting equipment market size expanded at 6.6% CAGR from 2017 to 2020.
The report cited a number of factors for the accelerating growth, with the market for broadcasting equipment being primarily driven by an increasing focus on production automation, transition from analog to digital broadcasting, growing acceptance of high definition content across the globe, and rising number of digital channels.
The need to create HD content, and increasing use of this equipment in sports broadcasting, news production, worship places, and other venues is also helping drive growth.
The researchers also noted that the rising adoption of smartphones and tablets and advancing technologies have further resulted in increased spending on cost-effective and advanced broadcasting equipment.
According to the Persistence Market Research market analysis, overall broadcasting equipment spending in the U.S. alone hit $1.6 billion in 2021 and is likely to increase at the rate of 8.7% from 2021 to 2031.
The report also found that North America has been recording substantial growth, thanks to such factors as growing demand for UHD content production and transmission, and the rising penetration of smartphones and the internet.
Over the years, different definitions of broadcast equipment have produced very different estimates of the market.
This report defines broadcasting as the “transmission of identical messages across various recipients at the same time.” The researchers also noted that “broadcasting equipment comprises a number of dedicated automated devices for transmitting visual and audio content,” through television, radio, or the internet.
Antennas, amplifiers, switches, video servers, encoders, transmitters and repeaters, and modulators are some of the most commonly used broadcast equipment, the researchers explained in describing their estimates.
More information on the report is available here.
