Global Broadcast Switchers Market to Grow at a Strong CAGR of 6.8% During the Forecast Period 2022-2030


The global broadcast switchers market is expected to grow with a CAGR of 6.8% during the forecast period of 2022-2030. The significantly rising usage of digital television and high definition television is expected to improve the experience associated with video broadcasting. Also, there is a rising penetration of television even to the developing and developed countries. These factors are expected to drive the broadcast switchers market. Broadcast switchers are utilized in the transmission of video and audio signals in the broadcasting network.

Sports broadcasting market is continuously growing from the last few years due to increasing number of sports events and their popularity among the population. The market is growing at a CAGR of 7.5% during the forecast period. News production application has also gained a significant share in the market due to increasing social awareness. Production switchers have developed its market in broadcast switchers and is growing at a faster pace with a CAGR of 7.2% during the forecast period.

North America is expected to be the largest market sharing approx. 38% of the global market; however, Asia Pacific is the fastest growing market for broadcasting switchers with an estimated CAGR of 7.8% over the forecasted period. The region has the three largest emerging economies of China, India and South Korea which have a significant place in the global market. Increasing application of broadcasting switchers in television broadcasting has led to the growth of switchers market in APAC. China is expected to have the largest market share in broadcasting switchers market. APAC market is driven by increasing growth in the number of applications such as studio broadcasting, sports broadcasting and others applications. The increasing demand for broadcasting switchers in the TV industry had a significant impact on the growth of broadcast switchers market. In APAC, sports’ broadcasting dominates the market with a maximum share of approximately 24% of the total broadcasting market. APAC is estimated to grow at a CAGR of 8.1% over the forecast period.

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India contributes 17% of the APAC’s broadcast switchers market. The increasing growth in entertainment, telecommunication and information has boosted the broadcasting market and in turn the broadcasting switchers market. It is growing at a CAGR of 8.9% during the forecast period of 2022-2030. South Korea isone of the fastest growing economies of APAC, home to two major players in the television manufacturing, LG and Samsung. The South Korean broadcasting market is majorly dominated by sports broadcasting and other factorsthatare fueling the broadcasting switchers market in the country include increasing television and radio broadcasting. China is the most populated country in the world, and therefore the scope for broadcasting of entertainment channels and other events is very high. The China broadcasting switchers market is dominated by television broadcasting. China is growing at a CAGR of 7.8% during the forecast period.

Global broadcast switcher market is highly fragmented with presence of various companies. However, the market is dominated by US based Ikegami Electronics U.S.A. Inc. Ikegami is one of the world's leading manufacturers of high quality professional broadcast equipment. Ikegami offers a broad range of TV cameras for ENG, EFP, Studio, HDTV, CCTV, and Medical Imaging. The company markets its products in local and overseas markets. The company’s robust product portfolio is leading the growth of the company. Some of the major market players of the industry are Axon Digital Design, Broadcast Pix Inc., Sony Electronics etc. Mergers and acquisitions are considered as major strategic moves to expand in the global market. Also integration with the latest technologies and investment in R&D activities are expected to help the companies in the long run.

KEY MARKET MOVEMENTS

  • The global broadcast switchers market is expected to grow with a CAGR of 6.8% during the forecast period of 2022-2030.
  • Sports broadcasting market is continuously growing from the last few years due to increasing number of sports events and their popularity among the population. The market is growing at a CAGR of 7.5% during the forecast period.
  • Production switchers have developed its market in broadcast switchers and is growing at a faster pace with a CAGR of 7.2% during the forecast period.
  • North America is expected to be the largest market sharing approx. 38% of the global market.
  • Asia Pacific is the fastest growing market for broadcasting switchers with an estimated CAGR of 7.8% over the forecasted period.
  • India contributes 17% of the APAC’s broadcast switchers market.
  • The China broadcasting switchers market is dominated by television broadcasting. China is growing at a CAGR of 7.8% during the forecast period.
  • Global broadcast switcher market is highly fragmented with presence of various companies.
  • Some of the major market players of the industry are Axon Digital Design, Broadcast Pix Inc., Sony Electronics etc.

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