ALBANY, New York, March 9, 2016 /PRNewswire/ --
According to a latest market report published by Transparency Market Research entitled "Broadcast Switchers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024," the broadcast switchers market was worth US$1.45 bn in 2015 and is expected to reach US$2.48 bn by 2024, at a CAGR of 6.1% from 2016 to 2024. North America was the largest market for broadcast switchers in 2015. Growth in the region is expected to be driven by the presence of an established broadcasting industry, demanding new and improved broadcast switchers, which can fulfill the changing consumer demand for HD and UHD content.
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Broadcasting switchers find use in almost every broadcasting application. It is used for handling and processing of audio and video content in the field of sports, studio, live events etc. Increasing penetration of HD digital media viewership has fuelled the adoption of advanced broadcast switchers, capable of handling not only HD signals, but also act as a bridge between multiple formats of media content. The rising demand for UHD content, especially from the developed markets in sports related content, is expected to boost the demand for multi-video resolution broadcast switchers. Alongside, the International Telecommunication Union (ITU) regulation for digital switchover has increased the demand for broadcast switchers which are capable of processing digital signals. However, high initial set up cost, based on type of broadcasting switchers, is expected to curb market growth. Further, lack of affordability of the basic infrastructure required for digital switchover such as digital set-top-box and satellite dish in African countries such as Angola, Burundi, Central African Republic, Equatorial Guinea, Eritrea, Gabon, Gambia, Liberia, and Mali is expected to curb the growth of the broadcast switchers market.
The report provides cross-segment analysis of the broadcast switchers market, based on product type, port type, application, and video resolution. Segmentation on the basis of product type includes routing switchers, production switchers, and master control switchers. Routing switchers are expected to emerge as the fastest-growing segment. This is largely due to increasing demand for low cost routing switchers especially in production trucks/ out broadcast (O.B) vans which demand for less noise, less heat and low energy consuming production switchers. Production switchers, master control switchers, and routing switchers are further segmented as high-end, mid-end, and low-end broadcast switchers.
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The demand for broadcast switchers is expected to emerge largely from studio production, sports production, and news production applications. The increasing number of HD channels due to changing end-user demand is expected to boost the demand for new and state-of-the-art broadcast switchers. The various end-use applications of broadcast switchers include studio production, sports broadcasting, and production trucks among others. In 2015, studio production and sports broadcasting segment shared the largest revenue shares, contributing to nearly 48% of the overall broadcast switchers market revenue.
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Geographically, North America is the largest market for broadcast switchers. However, with increasing digital T.V. viewership in Asia Pacific and Rest of the World, North America is expected to be replaced by Asia Pacific in terms of revenue share during the forecast period. In 2015, North America accounted for approximately 37% of the global broadcast switcher market revenue. Major manufacturers of broadcast switchers are aiming to develop broadcast switchers which can process high end video content such as 4K as well as all other video formats viz. HD, Full HD, and even SD. Key players in the broadcast switchers market include Ross Video, Ltd, Evertz Corporation, Sony Electronics Inc., Grass Valley USA LLC, Snell Ltd., New Tek Inc., Panasonic Corporation, Blackmagic Design, For-A, and others.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research