Press release
Shaping the Future of Broadcast: Insights on Video Switcher Technology
According to The Business Research Company's, The video switcher market size has grown strongly in recent years. It will grow from $3.67 billion in 2023 to $3.97 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the shift from analog to digital broadcasting, growing demand for high-definition content, integration of multicamera setups, global expansion of broadcasting, and evolution of broadcast standards.
The video switcher market size is expected to see strong growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the rise of live streaming platforms, transition to 4K and beyond, integration of AI and automation, expansion of virtual production, and demand for remote production solutions. Major trends in the forecast period include hybrid production environments, enhanced user experience, sustainability and energy efficiency, remote production and collaboration tools, AI-driven content production.
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Market Drivers and Trends:
The surging demand for digital media devices is expected to propel the growth of the video switcher market going forward. A digital media device is any instrument that records, processes, transmits, or displays digital information. The rise in digital media devices, such as smartphones, tablets, and smart TVs, is driven by increasing consumer demand for on-the-go entertainment and convenient access to digital content. Video switchers are essential components of digital media devices, enabling seamless integration, control, and manipulation of multiple video sources to create compelling and engaging content for audiences across various platforms and formats. For instance, in September 2023, according to a report published by ConsumerAffairs, a US-based consumer news, and advocacy organization, about 97% of Americans owned a feature phone or smartphone in 2022, and future trends predict that the number of American smartphone users will increase to more than 364 million people by 2040. Therefore, the surging demand for digital media devices is driving the growth of video switchers.
Major companies operating in the video switcher market are focusing on integrating technological advancements with new designs, such as modular design, to gain a competitive edge in the market. Modular design refers to a system or product composed of interchangeable components or modules, allowing flexibility, customization, and easy assembly or disassembly. For instance, in April 2023, Ross Video, a Canada-based broadcasting technology company, launched the Carbonite Ultra 60, a new production switcher that allows media groups to undertake larger, more complex, and more demanding productions. The switcher uses cutting-edge technology that allows simple layering and transitions along with onboard frame syncs, format converters, multiviewers, and more. The Carbonite Ultra 60 offers versatile connectivity options to support various input and output sources, including cameras, graphics generators, playback devices, and more.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Roland Corporation, Sony Corporation, Panasonic Corporation, Belden Inc., Crestron Electronics Inc., Barco NV, Extron Electronics, Asystems, Ross Video, Evertz Microsystems Limited, Blackmagic Design Pty Ltd, Grass Valley Group, Miranda Technologies, Imagine Communications, Matrox, Kramer Electronics, Ikegami Tsushinki Co. Ltd., NewTek Inc., AJA Video Systems Inc., Atomos Limited, TVU Networks Corporation, PESA, Datavideo Corporation, Lightware Visual Engineering, Systembase Limited
Video Switcher Market 2024 Key Insights:
• The video switcher market size is expected to see strong growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Digital Media Device Demand Fuels Video-On-Demand Market Growth
• Advancements In Video Switcher Technology For Driving Quality And Flexibility
• North America was the largest region in the video switcher market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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