CHICAGO—A new research report is predicting that the broadcast equipment market will see fairly healthy growth in the next five year, growing from $4.6 billion in 2021 to around $6.3 billion in 2027, a CAGR of 4.9%, according to MarketsandMarkets.
The "Broadcast Equipment Market with COVID-19 Impact Analysis by Technology” report noted that the transition from analog to digital broadcasting in many parts of the world is one important factor driving growth, with the digital broadcasting segment projected to see a higher CAGR than the overall broadcast equipment market.
By product type, the researchers noted that the the encoder segment held the largest share of the broadcast equipment market in 2021 and that the television segment held a largest share of broadcast equipment market in 2021.
The TV segment is also expected to grow at a higher rate and dominate the market during the forecast period. The growing demand for IPTV and digital terrestrial 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 report argued.
It also is projecting that the APAC will see the highest growth rates between now and 2027.
