The global Broadcast Switchers Market is estimated to be valued at US$ 2491.66 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Broadcast switchers are audio-visual devices used to select and switch among multiple video and audio input signals to produce an output signal. They allow television networks and broadcasters to switch between multiple camera angles and replay footage during a live production or broadcast. With increasing demand for enhanced viewer experience, broadcasters are upgrading their production infrastructure which is driving the demand for broadcast switchers.
Market Dynamics:
The growth of the broadcast switchers market is driven by increasing demand for broadcast infrastructure upgradation. With advancement in technology, viewers demand high quality content and enhanced viewing experience. To cater to this, broadcasters are investing heavily in upgradation of their production and broadcast infrastructure. This in turn is fueling the demand for broadcast switchers as they play a vital role in live multi-camera switching, routing, distribution, and playout.
Secondly, growing preference for IP-based workflows is also augmenting market growth. IP-based broadcast infrastructures allow remote and centralized production operations, thereby simplifying broadcast operations. IP-based broadcast switchers offer advanced capabilities like IP signal processing, embedding/de-embedding, routing, distribution, and playout required for modern IP-based broadcast infrastructure.
SWOT Analysis
Strength: The broadcast switchers market has high growth potential due to increasing live events. Broadcast switchers provide versatility and scalability for live production. They offer seamless switching and integration of multiple video and audio sources.
Weakness: High costs associated with professional broadcast switchers restrict their adoption. Lack of skilled professionals for operation and maintenance of complex switchers.
Opportunity: Rising number of live events and sports leagues expanding viewer base. Growing adoption of 4K and 8K technology boosting demand for advanced switchers.
Threats: Risk of technology obsolescence with advent of modern virtual and cloud-based solutions. Intense competition among existing players.
Key Takeaways
The Global Broadcast Switchers Market Demand is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing live sports events and concerts. Various international and national level sports leagues are driving the market growth.
Regional analysis: North America dominated the broadcast switchers market in 2022, and is expected to maintain its lead over the forecast period. This is attributed to heavy investments in sports infrastructure and live production capabilities in the US. Asia Pacific broadcast switchers market is estimated to grow at the fastest pace, led by China, India and Japan. Countries in the region are bidding for global sporting events and upgrading production facilities.
Key players operating in the Broadcast Switchers market are Broadcast Pix, Inc., New Tek Inc., Blackmagic Design Pty. Ltd., FOR-A Company Ltd, Utah Scientific, Inc., Panasonic Corporation, Ross Video Limited, Miranda Technologies, Inc., Ikegami Electronics U.S.A. Inc., Harris Broadcast, Snell Group, Sony Electronics, Inc., and Evertz Microsystems Limited.
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