Broadcast Communications Equipment Market Trends, Top Companies, Share, Growth And Forecast 2033

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%. The growth in the historic period can be attributed to emergence of cable and satellite tv, internet penetration and streaming, high-definition (hd), mobile broadcasting and convergence, regulatory changes and deregulation.

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%. The growth in the forecast period can be attributed to virtual and augmented reality broadcasting, artificial intelligence in content creation and delivery, next-gen broadcasting standards, rise of esports and niche content, shift to cloud-based infrastructure, broadcasting adoption. Major trends in the forecast period include 5g technology integration, analog to digital transition, cross-platform integration, monetization strategies and ad tech innovations, collaborations and partnerships.

Market Overview -
Broadcast communication equipment refers to hardware used in a communication network that uses broadcasting for inter-node communication. Products made by these establishments include transmitting and receiving antennas, cable television equipment, GPS equipment, cellular phones, and more.

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Increase In Disposable Income Fuels The Broadcast Communication Equipment Market
Increase in disposable income is driving the broadcast communication equipment market. The disposable income is the total amount of household income available to spend and save after paying income tax. The increase in disposable income increases the probability of consumers spending on entertainment and mobile communications, which leads to an increase in the sales of mobile communications such as cell phones. Cellular telephone is a broadcast communication equipment device, and the market has largely benefited from increased sales of cellular telephones. Cellular telephones have now become a necessity in every household owing to advantages such as connectivity, productivity applications, entertainment and education and with increasing disposable income, individuals are increasingly buying smartphones, boosting the broadcast communication equipment market. For instance, in 2023, according to an article published by the Office of National Statistics, UK-based executive office of the Statistics Authority published an article that stated the median household disposable income increased by an average 0.7% per year between the year 2020 and 2022. Therefore, an increase in disposable income is driving the growth of broadcast communication equipment market.

Competitive Landscape -
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

Wireless Technology Transforms The Market
Adoption of internet television and wireless technologies is an emerging trend in the broadcast communication equipment market. Customers in developed markets are adopting and showing signs of preferring internet TV. Internet TV, in general, is content distributed over the internet. Wireless service providers are offering online video streaming services and internet TV to compete with traditional pay-TV providers. These services are being offered to increase their subscriber base and revenues. For instance, in January 2023, LG Corporation, a South Korea-based multinational conglomerate, launched the 97-inch LG SIGNATURE OLED M television. The 97-inch LG SIGNATURE OLED M is equipped with Zero Connect1 technology, a wireless system that can transmit audio and video in real time at up to 4K 120Hz. With LG's wireless solution, customers can watch content at 4K 120Hz and clear, crisp sound without interruption or quality deterioration thanks to cutting-edge technologies that reliably transmit video and audio to the M3's self-lit OLED screen. The algorithm in the television also helps to minimize transmission errors or disruptions as it can recognize changes in the immediate environment.

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Key Segments -

The broadcast communications equipment market covered in this report is segmented -

1) By Product Type: Transmitting Antennas, GPS Equipment, Transceivers, Satellite Communications Equipment, Other
2) By Technology: Analog Broadcasting, Digital Broadcasting
3) By Application: Military, Civilian

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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