The broadcasting equipment market in Asia Pacific region was valued at $2487.5 mn in 2015 with estimated CAGR of 8.1 percent from 2016 to 2024.

According to the latest report — Broadcasting Equipment Market: Asia Pacific Industry Analysis and Forecast, 2016-2024 — published by Persistence Market Research, the growth of broadcasting equipment market can be attributed to the convergence of high definition technologies such as 4K with IP.

As per the report, 4K services are expected to be available on IP networks over the next four to five years via satellite launching and cable platforms.

Traditional TV broadcast segment values were estimated at $1,123 million in 2015 with a CAGR of 8.1 percent during 2016 to 2024, while the traditional radio broadcast segment was valued at $544 million in 2015 and has an estimated CAGR of 7.5 percent.

The IP converged broadcasting is projected to be the fastest growing segment in APAC broadcasting equipment market, with estimated CAGR of 10 percent, also from 2016 to 2024.

Traditional TV broadcast segment accounted for 45.1 percent share in terms of value of the total APAC broadcasting equipment market in 2015. High definition content usage in APAC region is increasing at a steady slope backed by the rising sales of HD ready TVs.

Traditional TV broadcast’s sub-segments like routers are expected to gain the highest CAGR of 9.2 percent during the forecast period. Content creators across the region are shifting towards 4K cameras in order to capture high definition video, as seen in the rise in sales of 4K UHD television.

Main broadcasting equipment makers are Media Excel, ChyronHego, TVU Networks, XOR Media, FOR-A Company, Oracle, Unlimi-Tech Software, Grass Valley and General Dynamics Mediaware.