The Global Market for Broadcast Switchers is Forecast to Reach US$2.4 Billion by 2022
Continued Strong Presence of
TV Broadcasting in Media Consumption Sustains
Growth in the Global Broadcast Switchers Market, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of
industry segments, trends, growth drivers, market share, size and demand
forecasts on the global Broadcast Switchers market. The global market for Broadcast Switchers is forecast
to reach US$2.4 billion by 2022, driven
by television broadcasting’s visible presence as a leading source of media
consumption despite the development and availability of numerous alternate
forms of entertainment and digital media.
Local broadcast TV remains a staple,
especially for news consumption. Few of the factors responsible for the
resilience of broadcasted news over other digital alternatives include
credibility associated with local news stations, enables passive consumption
and eliminates the need for searching and reading, highly localized news such
as traffic and weather alerts etc. Network television still remains popular for
reality shows, game shows, news, procedural dramas etc. Radio and television
broadcasting also remains the most important easily accessible
point-to-multipoint delivery of essential information and safety advice to the
public. The growing incidence of terrorism, natural disasters and other public
emergencies will continue to sustain the popularity of the broadcasting
industry as the most reliable and effective mode of communication. Technology
developments in addition to infusing competition have also been supportive in
ensuring relevance of broadcasting in the 21st century. The Internet and
convergence of social media, the rise of smart TV and social TV have eliminated
the traditional restrictions on time and place of content consumption adding
more flexibility in audience consumption patterns. Mandatory conversion from
analog to digital broadcast signals, the development of Hybrid Broadcast Broadband TV (HbbTV) and the availability of hybrid set-top boxes for dual
reception of broadcast and broadband digital TV and multimedia applications
have also played pivotal roles in sustaining the broadcasting industry’s
relevance into the digital era. With service providers increasingly bringing
the power of digital media to broadcast TV, the broadcasting industry continues
to thrive, spurring opportunities for broadcasting equipment such as broadcast
switches.
The growing number of broadcast studios is positively benefiting growth in the market. Other major factors driving
growth include strong investments in automation equipment as broadcasters come
under pressure for value creation through continuous innovation, shift of
broadcast TV from analog to digital and the ensuing rise in TV viewership, growing
appetite for live breaking news and stories and the ensuing increased
deployment of television production trucks and demand for portable broadcast switchers,
expanding applications into non-broadcast sectors such as surveillance centers,
educational institutes, conference rooms, command centers, and entertainment
venues, among others. Another major trend in the market is the rise of user generated
content and the ensuing increase in mobile broadcasting and demand for highly compact
broadcast switchers.
As stated by the new market research
report on Broadcast Switchers, the United States represents the largest market worldwide. Asia-Pacific
is forecast to emerge as the fastest growing market with a CAGR of 10.6% over
the analysis period, led by factors such as robust growth of the broadcasting industry,
growing disposable income and increasing consumer spending on entertainment and
media consumption, growing competitive pressure on maintaining operational efficiency
and the trend towards automation of TV broadcasting, high investments in
broadcast infrastructure and shift towards digital terrestrial broadcasting
from analogue in several Asian countries.
Major players in the market include Barco
N.V., Blackmagic Design Pty. Ltd., Broadcast Pix Inc., Datavideo Technologies
Co. Ltd., Evertz Microsystems Ltd., FOR-A Company Ltd., Grass Valley Canada,
IHSE GmbH, Ikegami Electronics (U.S.A) Inc., Imagine Communications
Corporation, Kramer Electronics Ltd., Matrix Switch Corporation, NEC
Corporation, NewTek Inc., Panasonic Corporation, Ross Video Ltd., Sony
Corporation, tvONE, and Utah Scientific Inc. among others.
The
research report titled “Broadcast Switchers: A
Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies.
The report provides market estimates and projections for all major
geographic markets such as the US, Canada, Europe (France, Germany, Italy, UK
and Rest of Europe), Asia-Pacific, and Rest of World.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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connect with us, visit our LinkedIn page.
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