How the Global Broadcasting Equipment Market Is Projected to Grow by 2024

Broadcasting is generally related with radio and television though in practice radio and television transmission occurs with the help of wire as well as radio waves. The equipment such as public radio, commercial radio, television, closed-circuit TV, amateur radio and amateur television which is involved in the electronic mass communication medium is known as broadcasting equipment.

The broadcast equipment market is driven by various factors such as transition from analog to digital broadcasting, increasing focus on production automation, growing acceptance of HD worldwide and rising number of digital channels. Moreover, content requirement at many places, increasing use of broadcasting equipment in sports broadcasting, worship places, news production and corporate conferences are also the factors driving the growth of broadcasting equipment at some extent.

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One of the key factors contributing to the market growth is the increasing the demand for HD programming and new ways to circulate the content such as internet protocol television (IPTV) and mobile TV are quickly developing and deploying. Moreover, the broadcasting equipment market has also been witnessing the rising inclination of the people towards multi-screen services. Enforcement of government regulations regarding digitalization is also expected to drive the market.

In addition with the huge growth in the number of smartphones and tablets, the growth opportunities of video services have increased considerably in recent years. This is due to the fact that in recent times, there is an increasing habit among the customer for viewing movie, shows and sports through their mobile phones without compromising about the quality of the services.

However inconsistency in content distribution, higher price of broadcasting equipment such as cameras, cables, audio video mixers huge capital cost needed while installing new broadcast facility and lack of standardized method in content distribution are some of the factors which are restraining the broadcasting equipment market. Also competition among the vendors in the global broadcasting equipment market has increased considerably. This is due to the fall in price and entry of new players in the market which is further restraining the growth of the broadcasting equipment market.

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There is a worldwide inclination towards the software based solutions, which are high on speed and can be IP connected so that upgradation may be possible with little hardware replacement. North America and Europe are expected to continue leading the market owing to the adoption of upgraded technology and more of the company's involvement in research and development programs to keep peace with rivals. Asia Pacific is expected to represent a new growth area in the year to come due emerging economies, increasing awareness among the people about internet browsing and higher use of electronic items such as television, smartphones and tablets. Moreover, Asian countries such as India and China are highly fragmented by content type, region type and size of broadcasters.

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