The Global Broadcasting Equipment Market was valued at US$ 27.525 billion in 2020. Broadcasting is the distribution of video or audio content to a fragmented audience through electronic mass communications, but most commonly radio waves in a one-to-many model. The significance of broadcasting equipment cannot be overstated, for broadcasting equipment plays a vital role in everyday lives, which is attributed to the media's role in shaping society. The tools of the trade used in broadcast are used on a personal as well as commercial level; this has increased broadcast appliances to meet the rising demands for new techniques for collecting the intel, editing it into insights, and finally relaying the message to the intended market. Owing to the various technical advancements, ever since the first broadcast in the early 1920s, broadcasting has undergone a drastic evolution. Today depending on the function, video, and audio broadcasting, there are a plethora of different types of equipment. The audio equipment deals with the audio or voice aspect. In contrast, video equipment deals with the capture and transmission of visual images or videos and is available in corded or wireless systems. In our day-to-day lives, broadcasting equipment is used for various reasons, from informing and educating to entertainment.
The advancements in technology have changed the Broadcasting Equipment Landscape.
The emergence of micro-led Television and the development of audio technological solutions have propelled broadcasting like never before. According to the statistics derived in the Global Smart TV Report by 'Indian Television Dot Com', by 2026, the penetration of smart Television is expected to rise by 51%, with the ownership of the smart televisions reaching about 1.1 billion homes across 88 countries included in the report. The market growth is further propelled by the strategic developments deployed by multiple key players. Samsung, the leading global smart TV brand, for instance, in April 2020 released a new innovative Neo QLED 8K & Neo QLED smart TV with a built-in IoT hub and solar cell remote.
The burgeoning IoT, Artificial Technology, and 5G market have further changed the way of broadcasting like never before. According to CISCO Annual Internet Report's statistical inferences, about two-thirds of the global population, i.e., 66%, is estimated to have internet access by 2023, and 5G devices and connections will climb up to 10 percent globally. Similarly, the fixed broadband speeds and cellular speeds ate expected to rise by 110.4 Mbps and 43.9 Mbps, respectively, by 2023. The increased number of channel services, the advent of OTT platforms, and increased penetration of smartphones had further added impetus to the market growth. Using this as leverage, many firms are gearing up to enhance their brand presence and offer better services. For instance, in July 2021, Saankhya Labs, a homegrown wireless communication and semiconductor chipset solutions provider, obtained a 5G broadcast trial spectrum from the telecom department to evaluate in-house features that enable broadcast and mobile broadband network convergence before launching them in the US. At the same time, along with the major developments in the competitive landscape, government initiatives and aid are also driving the market onward. In September 2021, for instance, Southern Africa's UNESCO Regional Office and the Ministry of Information, Publicity, and Broadcasting Services donated radio broadcasting equipment to a community radio station in Manicaland Province as part of the UNOPS-managed Zimbabwe Idai Recovery Project (ZIRP). Community broadcasting is bound to enhance communication in the province that was devastated by the 2019 Cyclone Idai.
According to analysts, Asia Pacific is expected to occupy a dominant share of the Broadcasting Equipment market in upcoming years.
By geography, the Broadcasting Equipment Market is segmented into five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. According to analysts, Asia Pacific is expected to witness the fastest growth in the upcoming years for the Broadcasting Equipment market. The countries like India, China, and South Korea, among many others residing in the regions, are expected to occupy a dominant market share. According to the CISCO annual report cited above, Asia Pacific stood at the top with about 52% of the regional population consuming internet and is expected to reach 72% by 2023. At the same time, the average fixed broadband and mobile connection speeds are expected to grow to 62.8 Mbps and 14.3 Mbps, respectively, by 2023.
In January 2020, China Broadcasting Network (CBN), operator of the country's national television and radio networks, had obtained approval to begin operating 5G services after beginning trials of next-generation communications infrastructure in the summer of 2019 and receiving official approval to build a commercial network in November of the same year. Two months before CNB's launch, the nation's largest three operators—China Unicom, China Mobile, and China Telecom—had simultaneously turned on their 5G services. Moreover, as of now, the country has already established 86 thousand bases station across 50 cities. Similar developments taking place across the region are expected to affect the market growth positively. Furthermore, the growing trend of digitalization and rising demand for digital content coupled with government initiatives among the countries within the region is expected to drive the market growth.
The global pandemic had a negative impact on the Broadcasting Equipment Market. The mandated lockdowns and social distancing had resulted in the closure of many production units, either partially or wholly. The rapid surge of active infected cases had further affected the human resources in the industries, further slowing down the productivity. Consequently, due to the economic recession observed across the period owing to the pandemic, many companies were forced to briefly halt or postpone many of their strategic deployments. The international travel restriction, too, negatively affected the import and export of the companies. Nevertheless, with the growing trend of digitalization and rapid penetration of OTT platforms, the demand for digital broadcasting equipment is expected to witness tremendous growth.