(I-BusinessNews.Com, May 17, 2021 ) The global Broadcast Equipment Market is estimated to surpass $7.35 billion mark by 2026 growing at an estimated CAGR of more than 5.1% during the forecast period 2021 to 2026. The market will be driven by availability of alternative signal of audio devices over a standard FM radio. The Broadcast Equipment Market will be bolstered by its high usage in the domestic production along with the exports and imports. The rising demand for various applications such as audio broadcasting in end user industries is analysed to fuel the growth of broadcast equipment. The significant adoption of Direct to home (DTH) in for media and entertainment applications is set to positively impact on the growth of the market as broadcast equipment plays a crucial role in the communication aspect in providing the subscribers with the high-quality content.
Broadcast Equipment Market Segment Analysis – By Technology
Increasing adoption of smartphones and internet facilities have led the market to rise in the number of internet radio audience which is driving the growth of the global radio advertising market. As radio broadcast is an easy access, a new Cryptomania radio broadcast launched in Boston that will help people to learn from online radio stations. This is steadily entering mainstream of educating process and will help the market to grow progressively. In the past five years, cellular radio telephone, pagers, cable television equipment, antennas, receivers, and amplifiers have been a favourable source of entertainment and news. This factor has favoured the growth of the market. This adoption is driven by rising demand for Audio streaming which has enjoyed a six-fold leap in the past eight years, according to Triton Digital.
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Broadcast Equipment Market Segment Analysis – By Product
The market is segmented into frequency, where ultra-high-definition (UHD) content production and transmission is rising due to increase in D2C offering (Direct-to-Consumer) through OTT services. Multichannel networks have boosted the bid for video servers. These servers act as a hosts and are used to deliver various contents or videos. The Broadcast Equipment market comprises of primarily manufacturing communication equipment for TV and radio broadcasting devices such as amplifiers, cable decoders, transceivers, transmitting antenna and modulators. The number of new commercial networks programming on History, Wildlife and Lifestyle programs have been launched that cater to niche audiences.
Broadcast Equipment Market Segment Analysis – By Geography
North America held the largest share of the Broadcast Equipment market in 2020. The increasing number of cable and satellite television channels and the rising spread of the internet have provided broadcasters with many choices to continue its dominance in the upcoming market. North America leads with the increase in number of broadcast channels this in turn has boosted the demand for radio broadcast equipment. Europe is also one of the potential markets for broadcast equipment. The overall market is highly fragmented by few very large and medium scale companies that offer solutions to media and entertainment.
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Broadcast Equipment Market Drivers
Shift to Software Defined Radio
Software Defined Radio (SDR) is a type of radio communication system where software on embedded system or personal computer is used for communication instead of implementing hardware such as filters, amplifiers, mixers, detectors, demodulators and modulators, among others. In a SDR the data from a source is converted into digital format, the remaining activities are carried out with the help of software driven automated functions. Globally demand for software defined radios is being driven by military modernization programs of various countries and growing number of digital service users. However, integration of the various sub systems is a key for software defined radios market.
Television and STBs remain primary source of entertainment
An annual survey titled American Time Use Survey conducted by Bureau of Labor Statistics, USA in 2019 deduced that watching television was American people’s favorite pastime. Between 2015-2019, an average American spent 2 hours and 46 minutes watching television. These statistics are reflective of the need for set top box market growth, and innovation of its product. Capitalization on this constant demand will propel the growth of the market. As per the Telecom Regulatory Authority of India, in the year 2019, set top box user base stood at 73.6 million, a number which has seen progress in the upward direction since then.
Broadcast Equipment Market Challenges
Covid-19 Hindering revenue generation for Broadcast Equipment
The COVID-19 outbreak is having a critical impact on the broadcaster’s revenues as firms across the globe have been reluctant to spend on ads. The brands are to use their limited cash reserves, especially when in an economy shutdown, demand is suppressed. This is projected to continue through mid-2021 with a slight recovery post that before the market resumes normal investment in 2023. Despite the media consumption rising, the Broadcast Equipment market has an industry that has been significantly hindered by the Covid-19 pandemic due to lack of spending from end customers.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Broadcast Equipment Market. Grass Valley, Ericsson, Cisco, Evertz Microsystems, Harmonic, Arris International, Beamr Imaging, EVS Broadcast Systems Sencore Clyde Broadcast (SA), AVL Technologies., and ETL Systems Ltd. are considered to be the key players of the Broadcast Equipment Market.
Acquisitions/Technology Launches/Partnerships
In August 2019 Reliance Broadcast Network Limited-operated FM radio networks brand BIG FM was acquired by Music Broadcast Limited (MBL) which includes 40 FM Radio stations for $150m.
iHeartMedia announced that it acquired Athens, Greece-based online audio technology company Radiojar Information Technology S.A. Radiojar is a centralized, cloud-based audio playout platform, and this acquisition will allow the industry to leverage Radiojar’s tools to cohesively combine the seamless elements of Broadcast Equipment and transition these skillfully-produced listening experiences into other audio platforms.
Key Takeaways
With advancing technologies, communication sectors are also shifting towards digital technology. Error correction and detection techniques are implemented easily in digital communication. Bandwidth consumptions are also reduced and more simultaneous talking paths are embedded into a single digital radio channel.
The ease of buying digital media programmatically has some agencies and advertisers demanding similar systems from radio and TV. By 2020 it’s been projected that nearly $5 billion in TV ad spending will be transacted via automatic means.
Media and Entertainment is set to dominate the Broadcast Equipment market owing to the rising demand from a growing population. This is mainly attributed to the increasing demand for the internet and online streaming services such as Amazon Prime Video, Netflix and so on.
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