DUBLIN--(BUSINESS WIRE)--The "Broadcast Communication Equipment Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global broadcast communication equipment market was worth $4.79 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 2.62% and reach $5.31 billion by 2023.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider broadcast communication equipment market, and compares it with other markets.
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 2018, 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).
Security threats 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 2019, a hacker named L&M reportedly hacked into thousands of accounts belonging to users of the iTrack and ProTrack GPS tracker devices. The hacker claimed that he could track vehicles in a number of countries, including South Africa, Morocco, India and the Philippines. The vulnerabilities in GPS equipment is causing complications, restricting the growth of broadcast communication equipment market.
In July 2019, Harris Corp., a USA-based technology company specialized in communication systems, electronic systems, space and intelligence, merged with L3 Technologies Inc., a USA-based aerospace and defense company. The merged company is called L3Harris Technologies Inc. The merger is expected to build sixth largest aerospace and defense company with diversified experience in the broadcasting communications equipment.
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 $2,018.53 in 2017 from $1,372.9 in 2013 at a compound annual growth rate (CAGR) of 10.1%. 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.
Major players in the market are, Ericsson AB, Harris Corporation, Motorola Solutions, Lockheed Martin Corporation, The Boeing Company, Raytheon Company, L-3 Communications Corporation, ITT Corporation, and Datapath Inc.
Key Topics Covered
1. Executive Summary
2. Broadcast Communication Equipment Market Characteristics
3. Broadcast Communication Equipment Market Size and Growth
3.1. Global Broadcast Communication Equipment Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Broadcast Communication Equipment Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Broadcast Communication Equipment Market Segmentation
4.1. Global Broadcast Communication Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Transmitting Antennas
- GPS Equipment
- Satellite Communications Equipment
4.2. Global Broadcast Communication Equipment Market, Segmentation by Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Broadcast Communication Equipment Market Regional and Country Analysis
- Ericsson AB
- AT&T Corporation
- Atrack Technology Inc.
- Calamp Corporation
- Datapath Inc.
- Datron World Communications
- Geotab Inc.
- Harris Corporation
- ITT Corporation
- L-3 Communications Corporation
- Laird PLC
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