Global Broadcasting Equipment Market: COVID-19 to Leave Positive Impact | $2.84 Billion Incremental Growth During 2020-2024 | Technavio
The broadcasting equipment market is expected to grow by USD 2.84 billion, progressing at a CAGR of about 8% during the forecast period.
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Technavio has announced its latest market research report titled Global Broadcasting Equipment Market 2020-2024 (Graphic: Business Wire)
The transition from analog to digital broadcasting is one of the major factors propelling the market growth. However, factors such as the higher cost of broadcasting equipment might hamper growth.
Broadcasting Equipment Market: Application Landscape
Based on the application, the market saw maximum growth in the TV segment in 2019. Innovations in TV control techniques such as the development of ubiquitous screens has increased the demand for greater content mobility. This is one of the key factors driving the growth of the segment.
Broadcasting Equipment Market: Geographic Landscape
By geography, North America is expected to have lucrative growth during the forecast period. About 39% of the market's overall growth is expected to originate from North America. Factors such as the increasing number of cable and satellite television channels, the huge presence of broadcasting companies and satellite manufacturers, and the thriving media and entertainment industry are fostering the growth of the broadcasting equipment market in North America. The US is the key market for broadcasting equipment in North America. Market growth in this region will be slower than the growth of the market in APAC.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Five Forces Analysis
Market Segmentation by Application
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