The global broadcast switchers market is prognosticated to develop significantly owing to the growing demand in developing nations. The key players in the market are focusing on developing broadcast switcher with 4K resolution, on the basis of IP. Ross Video, Ltd, For-A, Grass Valley USA LLC, Sony Electronics Inc., and Evertz Corporation, and others are some of the major firms operating in global broadcast switchers market. Grass Valley, USA, LLC, Ross Video, Panasonic Corporation, and Snell Ltd. accounted for 46% share of broadcast switchers market. These firms are also adopting several effective business strategies such as mergers and acquisitions and collaborations. According o a research report by TMR, the firms need to keenly observe the rising demand from developing nations, where there is a surge in usage of multiscreen platforms. This boosts the sale of IP, HD, and 4K based broadcast switchers.
As per the report by Transparency Market Research (TMR), the global broadcast switchers market is likely to expand at a CAGR of 6.1% within the forecast period from 2015 to 2024. By the end of forecast period, the global broadcast switchers market is foreseen to be valued around worth US$2.47 bn, from its valuation in 2015 of worth US$1.45 bn.
Based on application, the studio production segment, in 2015 was estimated to be the leading segment, with nearly 24.9% of share of global broadcast switchers market. The distinct property of the segment to adapt to SD and HD content is the key factor behind the lead in the global market This has also made it a favored option among several business owners. Based on region, North America accounted for highest share of the global broadcast switchers market mainly due to upgradation of outdated switchers. the region is likely to sustain its lead in coming years as well.
Growth in Digital Broadcasting to Fuel Market Demand
This significant development or broadcast switchers is for the most part due to the advancement of analog broadcasting to digital broadcasting. The stringent ITU guidelines alongside the increasing attention to the digital advancement in the broadcasting part, for example, quick availability, helpful storage, and bulk channels are foreseen to drive the market development. Likewise, nations, for example, Russia, Brazil, Mexico, Africa, India, and Ukraine have made their progress to digital broadcasting and hence contributing altogether to flood the demand in broadcast switchers market in forthcoming years.
The high investment in equipments is a major hindering factor behind the downfall of global broadcast switchers market. Costly infrastructure, embedded with light equipment wires, camera control units, convertors, on-field audio convertors, and encoders are estimated to pose a major threat to market development. Besides, high investment price is likely to affect the growth of SMEs. The accessibility of television for cross-platform is another factor restricting the entire market growth in coming years.
Developing Nations are Foreseen to Lead Global Broadcast Switchers Market
Various nations are presently progressing to digital broadcasting from analog broadcasting. This progress offers a critical lift to development scope in the broadcast switchers market. This growing pattern change to digitalized content in wide undiscovered markets of developing nations are relied upon to contribute extensively to the improvement of the worldwide broadcast switchers market in the coming years. Additionally, changing TV watching preferences are likewise expected to make new development scope in broadcast switchers market. For example, there has been an extraordinary demand for HD channels, especially for watching sports, that has prompted enormous demand for advanced technology in broadcast switchers.