Broadcast Switchers Market - Industry and Forecast 2024
Albany, NY -- (SBWIRE) -- 08/01/2016 -- Broadcast Switchers are the key element used in the transmission of audio and video signals in a broadcasting network. Broadcast switchers are mostly used in production houses (movable and immovable) for selection of signal from multiple signals, sometimes from multiple video sources to create special effect.
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A notable trend amongst several market leaders is also their effort towards catering to the demand in developing economies. The key players following these business strategies and dynamics are Evertz Microsystems Ltd., Sony Electronics, Inc., and Panasonic Corporation amongst others. A futuristic outlook of the market shows that players will have to keep a close eye on the burgeoning demand from emerging economies where the increasing adoption of multiscreen platforms will fuel the sales of HD, 4K, and IP-based broadcast switchers.
Transition from Analog to Digital Content Drives Market
The surging demand for broadcast switchers is largely attributable to the transition from analog to digital broadcasting. The stringent ITU norms along with growing awareness of the advantages of digital broadcasting such as myriad channels, quick accessibility, and convenient storage are expected to drive the overall market. In line with this sentiment, the transition of several developing countries such as Russia, Brazil, Mexico, Africa, India, and Ukraine from analog to digital will also boost the adoption of broadcast switchers in the foreseeable future.
Steep Investments in Infrastructure Dissuade Businesses
TMR analyst says, "Though the potential seems promising, the adoption of broadcast switchers faces a tough challenge of huge investment in equipment." The expensive nature of building an infrastructure with light equipment cables, camera control units, convertors, encoders, and on-field audio recorders is likely to be a major hindrance to the broadcast switchers market. This factor especially has an adverse effect on the small to medium-sized businesses. Yet another complication in the adoption rate of the broadcast switchers is the cross-platform television accessibility.
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Untapped Market in Developing Regions Offer Great Opportunities
The innumerable number of countries that are transitioning from analog to digital are likely to offer brilliant growth opportunities to the broadcast switchers market. Thus, the burgeoning trend to digitalize content and the untapped markets of developing regions collectively hold a bright future for the overall market. This will also in developing regions surpassing the share of developed regions such as the U.S., Japan, and Western Europe in the overall market by the end of the forecast period. Furthermore, the changing viewership across the globe will also create new growth options for broadcast switchers. For instance, the demand for HD channels, especially to view sports, has led to a huge demand for technologically advanced broadcast switchers.
The research report published by Transparency Market Research estimates the opportunity of the global broadcast switchers market will be worth US$2,476.8 mn in 2024 as opposed to US$1,452.8 mn in 2015. The market is expected to progress at a steady CAGR of 6.1% between 2015 and 2024. The biggest application of broadcast switchers will be the studio production segment, whose revenue stood at US$361.2 mn in 2015.