February 21, 2024
Asia Pacific Broadcasting Equipment Market
Ict

Broadcasting Equipment Market in Asia Pacific- Driven by Increasing Digitalization of Broadcasting

The broadcasting equipment market includes products such as cameras, switchers, encoders, transmitters, amplifiers, and antennas that are used for transmission and broadcasting of content through radio and television. Advancements in digitalization have enabled high definition video and audio quality, thereby driving the need for improved broadcasting equipment. Transition from analog to digital broadcasting requires upgrading of infrastructure with IP-enabled and software-defined technologies. Increased focus on providing enhanced customer experience is prompting broadcasters to adopt broadcasting solutions with improved features.

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 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the Asia Pacific broadcasting equipment market is the adoption of virtualized and software-defined broadcasting solutions. Traditional broadcasting workflows based on hardware are being replaced by virtual studios that leverage virtualization and cloud technologies. This enables broadcasters to reduce infrastructure costs and flexibly configure and manage broadcast operations from any location. With software-defined infrastructure, broadcasters can easily deploy new features and technologies through upgrades. This is expected to drive the demand for IP-based and virtualized broadcasting equipment in the region.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the broadcasting equipment industry requires high capital investment and established distribution channels.

Bargaining power of buyers: The bargaining power of buyers is high as there are numerous equipment suppliers and buyers can negotiate on price and quality.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several component manufacturers but suppliers need to meet quality and delivery timelines of equipment makers.

Threat of new substitutes: The threat of new substitutes is low as broadcasting equipment has very few alternatives for content delivery at scale.

Competitive rivalry: The competition is high among the existing players to gain market share and expand their product portfolio.

Key Takeaways

The Asia Pacific Broadcasting Equipment Market Demand is expected to witness high growth. 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 5.7% over the forecast period 2023 to 2030.

The region is dominated by China, India and Japan which are rapidly adopting broadcasting technologies. China accounted for over 30% of the Asia Pacific market share in 2023 due to strong government support and growing media and entertainment industry. The fastest growing regional markets are expected to be Southeast Asian countries like Indonesia, Malaysia, Philippines and Vietnam. Factors such as rising internet penetration, adoption of smart devices and increasing disposable incomes are fueling the growth of broadcasting industry in these nations. Countries are also upgrading their infrastructure to support newer broadcast technologies.

Key players: Key players operating in the Asia Pacific broadcasting equipment market are Ashtech India Pvt. Ltd, BASF SE, CHRYSO SAS, Ecmas Group, GCP Applied Technologies Inc., KMCO LLC, MYK Schomburg, PROQUICESA, Shalimar Tar Products, Sika AG, Thermax Global. The players are focusing on developing innovative solutions to meet the evolving technology needs of broadcasters. They are also expanding their footprint in high potential developing Asian economies through partnerships.

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