Broadcast Equipment Market Size, Share, Growth Analysis, By Technology(Analog Broadcasting, and Digital Broadcasting), By Application(Radio, Television) - Industry Forecast 2024-2031

Global Broadcast Equipment Market size was valued at USD 5.03 Billion in 2022 and is poised to grow from USD 5.27 Billion in 2023 to reach USD 7.67 Billion by 2031, at a CAGR of 4.8% during the forecast period (2024-2031).

The broadcast equipment sector operates as a one-to-many distribution model for disseminating audio and video content to a geographically dispersed audience via various electronic mass communication mediums. Typically, this distribution is achieved using radio frequency or electromagnetic means. Historically, air broadcast activities were closely associated with radio and television transmissions. In recent times, cable networks, including fiber-optic cable networks, have become instrumental in facilitating both radio and television broadcasting. Broadcasting equipment encompasses a diverse array of automated devices responsible for the distribution of audio and video content. This equipment includes encoders, switches, modulators, amplifiers, video servers, antennas, as well as repeaters and transmitters.

The broadcast equipment industry has witnessed significant advancement over recent decades, driven by consumer demands for higher-quality audio and video experiences. Technological progress has compelled broadcasters to offer Ultra High Definition (UHD) output to cater to premium users, thereby fostering the expansion of the market. Additionally, the proliferation of digital channels and the adoption of cutting-edge broadcasting technologies, such as 8K video quality for sports coverage and 4K quality for news, contribute to the market's growth. Notably, the sports sector represents one of the largest television audiences globally, making it a significant revenue generator for the broadcast equipment market. The growth of international sports tournaments further propels the rental sports broadcast sector. Broadcasters can choose between hardware or software encoders based on the streaming objective and available budget. Factors contributing to the rising demand for broadcast equipment include the transition from analog to digital broadcasting, the popularity of high-definition content, and the convenience of on-demand content delivery via Over-The-Top (OTT) platforms.

Key players in the broadcast equipment market are adopting various strategies to maintain their competitive edge, including product launches, mergers, joint ventures, acquisitions, and more. For instance, in February 2021, Grass Valley entered into a USD 5 million agreement with Gravity Media to provide cutting-edge production solutions and workflows to Gravity Media's international operations, illustrating the industry's commitment to innovation and growth.