Broadcast Communications Equipment Global Market Report 2023: Increasing Disposable Income Drives Growth
Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Broadcast Communications Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global broadcast communications equipment market will grow from $553.35 billion in 2022 to $604.72 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The broadcast communications equipment market is expected to grow from $844.28 billion in 2027 at a CAGR of 8.7%.
Major players in the broadcast communication equipment market are Ericsson AB, Harris Corporation, Motorola Solutions, Lockheed Martin Corporation, The Boeing Company, Raytheon Company, L-3 Communications Corporation, ITT Corporation, Datapath Inc., and AT&T Corporation.
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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.
The main product types of broadcast communication equipment are transmitting antennas, GPS equipment, transceivers, satellite communications equipment and others. A transceiver is a transmitter/receiver that comes in one package. The primary function of this electronic device is to transmit and receive various signals. The various technologies used are analog broadcasting and digital broadcasting that is used for military and civilian applications.
The broadcast communications equipment market research report is one of a series of new reports that provides broadcast communications equipment market statistics, including broadcast communications equipment industry global market size, regional shares, competitors with a broadcast communications equipment market share, detailed broadcast communications equipment market segments, market trends and opportunities, and any further data you may need to thrive in the broadcast communications equipment industry. This broadcast communications equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
A security threat such as hacking of GPS tracking application is a major challenge in the broadcast communication equipment market. GPS is a broadcast communication equipment device, used to determine an object's ground location. Hackers can tamper GPS signals and exploit the vehicles.
The signals could possibly be jammed during the transmission. The vulnerability of GPS system will allow a hacker to track thousands of vehicle positions and even switch off the engines. For instance, in July 2022, according to the cyber-security firm BitSight, the "MiCODUS" GPS tracker contains serious flaws.
It is estimated that 1.5 million MiCODUS devices are currently in use by private citizens, businesses, and governmental organisations, armies, and law enforcement in 169 countries. A vehicle belonging to a civilian may have its fuel supply cut off by an attacker, who would then use ransomware to lock the vehicle and demand payment to unlock it. It is simple to miss the fact that GPS tracking devices like these can significantly raise cyber risk if they are not created with security in mind given the rapid development in the adoption of mobile devices and the desire for our society to be more connected.
Adoption of internet television 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 example, in the U.S, approximately 147.5 million people have adopted internet television to watch Netflix at least once a month, followed by Amazon Prime Video (88.7 million), Hulu (55 million), HBO Now (17.1 million) and Dish's Sling TV (6.8 million).
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 India, the per capita net disposable income increased to 1829.62 during 2019-2020 from $1712.51 during the previous year showing a rise of 6.8%. Rise in disposable income coupled with affordability increased purchasing power of the individuals and in turn propelled the market for cellular telephone, driving the broadcast communication equipment market.
The regions covered in the broadcast communications equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the broadcast communication equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Key Topics Covered:
1. Executive Summary
2. Broadcast Communication Equipment Market Characteristics
3. Broadcast Communication Equipment Market Trends And Strategies
4. Impact Of COVID-19 On Broadcast Communication Equipment
5. Broadcast Communication Equipment Market Size And Growth
5.1. Global Broadcast Communication Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Broadcast Communication Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Broadcast Communication Equipment Market Segmentation
6.1. Global Broadcast Communication Equipment Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Satellite Communications Equipment
6.2. Global Broadcast Communication Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Broadcast Communication Equipment Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Broadcast Communication Equipment Market Regional And Country Analysis
7.1. Global Broadcast Communication Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Broadcast Communication Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/f3sn73
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