PUBLISHER: The Business Research Company | PRODUCT CODE: 1426272
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426272
Broadcast communication equipment encompasses hardware utilized in communication networks that rely on broadcasting for inter-node communication. These products typically include transmitting and receiving antennas, cable television equipment, GPS devices, cellular phones, and similar devices.
The primary product types within broadcast communication equipment comprise transmitting antennas, GPS equipment, transceivers, satellite communications equipment, and other related items. A transceiver, specifically, integrates both transmission and reception functions within a single package, allowing for signal transmission and reception. These electronic devices operate using various technologies, notably analog and digital broadcasting, which find applications in both military and civilian contexts for communication purposes.
The broadcast communications equipment market research report is one of a series of new reports from The Business Research Company that provides broadcast communications equipment market statistics, including broadcast communications equipment industry global market size, regional shares, competitors with a broadcast communications equipment market share, detailed broadcast communications equipment market segments, market trends and opportunities, and any further data you may need to thrive in the broadcast communications equipment industry. This broadcast communications equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The broadcast communications equipment market size has grown strongly in recent years. It will grow from $577.28 billion in 2023 to $619.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. Historical growth in broadcast communication equipment can be attributed to several key factors. These include the emergence and popularity of cable and satellite TV, increased internet penetration facilitating streaming services, the advent of high-definition (HD) content, the rise of mobile broadcasting and convergence, and significant regulatory changes and deregulation within the industry.
The broadcast communications equipment market size is expected to see strongly grown in the next few years. It will grow to $867.81 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. Anticipated growth in the forecast period for broadcast communication equipment is expected to be driven by several factors. These include the increasing adoption of virtual and augmented reality in broadcasting, the integration of artificial intelligence into content creation and delivery systems, the implementation of next-generation broadcasting standards, the growing popularity of esports and niche content, and the industry's shift towards cloud-based infrastructure for operations.
Increase in disposable income is a key driver for the broadcast communication equipment market. As household income rises post-tax, consumers are more likely to invest in entertainment and mobile communication, leading to increased sales in devices like cell phones. These devices, integral in today's households due to their connectivity and utility for entertainment, education, and productivity, have seen a surge in demand with growing disposable incomes. For instance, a report from the Office of National Statistics in 2023 highlighted a 0.7% yearly increase in median household disposable income from 2020 to 2022, contributing to the growth of the broadcast communication equipment market.
The anticipated surge in 5G deployment is poised to further propel the broadcast communications equipment market. 5G, the latest in wireless cellular network technology, relies on robust equipment such as antennas, transmitters, and receivers to facilitate high-frequency signal transmission essential for seamless wireless communication. Notably, global 5G connections soared by 76% from late 2021 to late 2022, reaching 1.05 billion, as reported by 5G Americas in April 2023. This uptick underscores the pivotal role of broadcast communications equipment in supporting the advanced capabilities and standards of 5G networks.
An emerging trend in the broadcast communication equipment realm is the increasing adoption of internet television and wireless technologies. Developed markets are witnessing a shift towards internet TV, delivered over the internet, with wireless service providers offering online video streaming services to expand their subscriber base. LG Corporation's launch of the 97-inch LG SIGNATURE OLED M television in January 2023, equipped with Zero Connect1 technology for real-time 4K 120Hz audio-video transmission, exemplifies this trend. The cutting-edge technology ensures uninterrupted, high-quality content transmission, meeting consumer demands for superior viewing experiences.
Strategic partnerships have become a strategic approach among major players in various markets, including nitrogenous fertilizer. This approach involves leveraging mutual strengths and resources to achieve shared success. For instance, BridgeCom Systems and C & L Service, Inc. collaborated in October 2023 within the land mobile radio industry. This partnership aims to enhance local businesses' communication, efficiency, and safety through synergistic cooperation, illustrating the increasing trend of strategic alliances for mutual benefit.
In August 2022, Motorola Solutions, a telecommunications equipment firm headquartered in the United States, completed the acquisition of Barrett Communications for an undisclosed sum. This acquisition serves to expand Motorola Solutions' product range and extends its global market presence, particularly strengthening its international footprint. By incorporating Barrett Communications, an Australian company specialized in commercial high-frequency, tactical HF, and very high-frequency communications equipment, Motorola Solutions underscores its commitment to innovation and maintaining a leading position in mission-critical communications.
Major companies operating in the broadcast communications equipment market report are Telefonaktiebolaget LM Ericsson, L3Harris Technologies Inc., Motorola Solutions Inc., Lockheed Martin Corporation, The Boeing Company, Raytheon Technologies Corporation (formerly Raytheon Company), L3 Technologies Inc., ITT Inc., Datapath Inc., AT&T Corporation, Datron World Communications Inc., CalAmp Corp., Sierra Wireless Inc., Orbcomm Inc., Queclink Wireless Solutions Co. Ltd., Laird PLC, TomTom International BV, Teltonika UAB, Atrack Technology Inc., Geotab Inc., Meitrack Group, Trackimo LLC, Shenzhen Coban Electronics Co. Ltd., Xirgo Technologies Inc., Maestro Wireless Solutions Ltd., Ruptela UAB, Cellco Partnership d/b/a Verizon Wireless, Spytech Inc., Smart Caregiver Corporation, Sony Corporation, Panasonic Corporation, Cisco Systems Inc., Huawei Technologies Co. Ltd., Grass Valley USA LLC, Avid Technology Inc., Imagine Communications Corp., Evertz Technologies Limited, Comtech Telecommunications Corp., GatesAir Inc., Rohde & Schwarz GmbH & Co KG
Asia-Pacific was the largest region in the broadcast communications equipment market in 2023.The regions covered in the broadcast communications equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the broadcast communications equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The broadcast communication equipment market consists of sales of mobile communications hardware, radio and television studios, and broadcasting hardware. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Broadcast Communications Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on broadcast communications equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for broadcast communications equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The broadcast communications equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.