According to the latest report published by Persistence Market Research, titled “Broadcasting Equipment Market: Asia Pacific Industry Analysis and Forecast, 2016–2024”.
New York, NY -- (SBWIRE) -- 05/22/2017 -- The report has segmented the APAC broadcasting equipment market into traditional TV broadcast, traditional radio broadcast, IP converged broadcasting and asset management systems.
The broadcasting equipment market in APAC region is expected to be valued at US$ 5,104.8 Mn by 2024.
The broadcasting equipment market in APAC region was valued at US$ 2487.5 Mn in 2015 and is expected to register a CAGR of 8.1% from 2016 to 2024. The growth of broadcasting equipment market in APAC region is primarily driven by convergence of high definition technologies such as 4K with IP. As per the report, 4K services are expected to be available on IP networks over the next four to five years via satellite launching and cable platforms.
Traditional TV broadcast segment was valued at US$ 1123 Mn in 2015 and is anticipated to register a CAGR of 8.1% during the forecast period (2016–2024). The traditional radio broadcast segment was valued at US$ 544 Mn in 2015 and is anticipated to register a CAGR of 7.5% during the forecast period. The IP converged broadcasting is projected to be the fastest growing segment in APAC broadcasting equipment market, exhibiting a CAGR of 10.0% during the forecast period.
Traditional TV broadcast segment accounted for 45.1% share in terms of value of the total APAC broadcasting equipment market in 2015. Consumption of high definition content in APAC region is increasing at a rapid pace, supported by rising sales of HD ready TVs.
The traditional TV broadcast equipment market is further segmented into camera, monitors, routers, switchers, cable, transmitter, receiver and other accessories. Routers sub-segment is projected to expand at the highest CAGR of 9.2% during the forecast period. Content creators across the region are shifting towards 4K cameras in order to capture high definition video. This is being supported by sales of 4K UHD television that has gained momentum due to rising disposable income in the region.
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Key players of the APAC Broadcasting Equipment market include Media Excel Inc.(US), ChyronHego Corporation (US), TVU Networks Corporation (US), XOR Media Inc.(US), FOR-A Company (Japan), ORACLE Corporation (US), Unlimi-Tech Software Inc. (US), Grass Valley (Canada) and General Dynamics Mediaware (Australia).
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This report covers trends that are driving each segment and offers analysis and insights regarding the potential of the broadcasting equipment market in APAC regions.