July 24, 2024
Broadcasting Equipment
Ict

Asia Pacific Broadcasting Equipment Market Is Driven By Rising Demand For UHD & Cloud Technologies

Asia Pacific is home to growing economies and high population density which has led to increasing demand for news and entertainment content. Broadcasting equipment such as studio video systems, encoders, character generators, switchers, video servers and routers play a vital role in meeting this demand. Broadcasting equipment facilitate television production, transmission, broadcast and distribution. They help optimize operations, improve quality and unlock new business opportunities. The rising adoption of Ultra-High Definition (UHD) and cloud-based technologies are also propelling the Asia Pacific broadcasting equipment market. UHD provides four times the resolution of Full HD, delivering a true-to-life viewing experience. Cloud facilitates collaborative workflows and easier content access across multiple locations.

The global Asia Pacific Broadcasting Equipment Market is estimated to be valued at US$ 4040.14 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the Asia Pacific broadcasting equipment market is the rising integration of virtual and augmented reality technologies. Broadcasting companies are employing VR and AR to enhance storytelling and viewer engagement. For instance, VR provides an immersive experience of sporting events from different camera angles. AR enhances program viewing by overlaying digital elements. Another major trend is automation and digitization of production workflows using software-defined video platforms. This allows broadcasters to scale operations flexibly on-premises and via the cloud. It streamlines processes, reduces costs and errors. Advanced technologies like artificial intelligence and Internet of Things are also gaining foothold. They enable personalization, predictive analytics and remote operations management. Such innovations are helping broadcasters address evolving consumer demand, optimize asset usage and monetize content in new ways.

Porter’s Analysis:

  • Threat of new entrants: Low capital requirements and lack of patents allow new players to enter the market easily. However, established players enjoy economies of scale and brand recognition which deter entry of new players.
  • Bargaining power of buyers: Buyers have low bargaining power due to availability of substitutes and differentiated products offered by vendors.
  • Bargaining power of suppliers: Vendors rely on few component suppliers globally making them susceptible to price fluctuations. However, established players can source components from multiple suppliers limiting the influence.
  • Threat of new substitutes: Alternatives like live streaming pose a minor threat. However, broadcasting equipment have established use cases and switching costs making them less susceptible.
  • Competitive rivalry: Intense competition among vendors to gain market share. Players differentiate through innovative offerings, service quality, and competitive pricing.

Key Takeaways:

The Global Asia Pacific Broadcasting Equipment Market Size is estimated to be valued at US$ 4040.14 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030.

The Asia Pacific broadcasting equipment market is expected to witness high growth. The region is forecast to grow at a CAGR of 8.6% during the forecast period owing to rapid digitization and adoption of newer technologies. Countries like China, India, and Japan are major revenue generators in the region. India is projected to witness the fastest growth on account of upgrade of transmission networks and expansion of DTH and cable TV services.

Key players operating in the Asia Pacific Broadcasting Equipment market are Media Excel Inc., Bridge Technologies Co AS, ChyronHego Corporation, Nevion Europe AS, TVU Networks Corporation, Enesys Technologies, XOR Media Inc., Pebble Beach Systems Limited, FOR-A Company Limited, BroadStream Solutions Inc., Oracle Corporation, General Dynamics Mediaware. Key players are focusing on developing innovative solutions to gain a competitive edge.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it