The Global Broadcast Switchers Market, By Type (Production Switcher, Routing Switcher and Master control switcher), By Application (Sport Broadcasting, Studio Production, Production Trucks, News Production, Post Production and Others) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Global Forecast to 2027, is expected to be valued at US$ 3253.0 million by 2027, exhibiting a CAGR of 6.9% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
A broadcast switcher is a device used for the creation of video or film. It is mainly used to select or switch different audio and video-signals, coming in from various sources. Switchers are important for a fully incorporated television production. Broadcasters select the source of the video feed, rout it, and make the workflow process of broadcasting more efficiently by using broadcast switchers. Live broadcasting poses technical as well as logistical challenges for any broadcaster. Performance and reliability are important in live events where the loss of a camera channel can have disastrous results.
The global broadcast switchers market is estimated to account for US$ 3,253.0 Mn in terms of value by the end of 2027.
Growing adoption of HD globally is expected to drive growth of the global broadcast switchers market during the forecast period
Rising consumer demand for broadcasting major programs includes music concerts and live sporting events in HD format, which requires equipment to add special effects has led to increased demand for broadcast switchers. Furthermore, the broadcast industry has witnessed increasing use of HD satellite broadcast subscribers worldwide, owing to increasing demand for higher quality video. Moreover, an increasing number of HD channels to cater to the rising demand for broadcasting events in HD format is expected to propel growth of the global broadcast switchers market during the forecast period.
Merger and acquisition activities among major market players can present lucrative growth opportunities
Key companies in the market are focused on merger and acquisition activities, in order to enhance the market presence. For instance, In October 2013, the Ross Video Limited acquired Mobile Content Providers (MCP), a U.S.-based mobile sports production packager. Key companies in the market can capitalize on these opportunities and gain a competitive edge in the market.
Lack of regularization in content distribution is expected to hamper growth of the global broadcast switchers market over the forecast period
Generally, content providers bear a high costs to offer content in different formats to several pipes. Many organizations such as the Internet Engineering Task Force (IETF) are conducting standardization activities for content delivery network (CDN) technologies. Therefore, these factors are expected to hamper growth of the global broadcast switchers market during the forecast period.
Among regions, North America is expected to witness significant growth in the global broadcast switchers market during the forecast period. This is owing to rising demand for ultra-high-definition content production and transmission across the region. Furthermore, rising demand for digital broadcasting is expected to boost the regional market growth over the forecast period.
Europe is expected to exhibit a robust growth rate in the global broadcast switchers market during the forecast period. This is owing to the advent and development of novel products by major manufacturers in the region.
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Global Broadcast Switchers Market - Impact of Coronavirus (Covid-19) Pandemic
Due to Covid-19 pandemic, many industries witnessed significant shift in their business. Every country has announced lockdown to contain the spread of coronavirus. As people are staying at home and curious to know more updates on coronavirus has increased the demand for the news channel. For instance, in April 2020, according to Broadcast Audience Research Council (BARC), total TV viewership increased to 21% from 7%, as most of the people watched news channel to get updates of the COVID-19. Streaming service providers such as Netflix, Amazon Prime Video, and Zee5 are used by people for entertainment and increases the pressure on networks. Due to the rising demand for high network connectivity increases the demand for broadcast switchers market.
Major market players operating in the global broadcast switcher 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.
Major companies are focused on product launches, in order to enhance the market presence. For instance, in October 2019, Panasonic Corporation launched its latest technology of broadcast & ProAV products and solutions at IBC 2019.
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