BROADCASTING EQUIPMENT MARKET OVERVIEW

The broadcasting industry or market is very vast. Majorly, this industry is divided into three main segments – Technology (analog/digital broadcasting), Product (video servers, encoders, etc.), and Geography. In the year 2021, the broadcasting equipment industry was valued at USD 4.67 billion which is expected to grow to USD 6.5 billion by 2027. For a few years now, people are getting attracted to better sound and video quality, like 4K and other UHD formats due to which the demand for broadcasting equipment is growing across the world.

By studying the facts and statistics of Import Export Data for the year 2020, we came to know that broadcasting equipment was ranked 5^th in the most traded product in the world as the value was close to USD 430 billion.

The pandemic has further fueled this trend. Due to the pandemic and lockdown conditions, people have learned to work from the comfort of their homes, and hence, the demand for technology and related products has shot up. Many IP and Cloud-based solutions are in trend now which consume more of this equipment which further boosts the demand.

RELATION BETWEEN VIETNAM TRADE DATA AND BROADCASTING EQUIPMENT

There is a positive relationship between Vietnam and Broadcasting equipment as both Vietnam exports and imports this product in abundance as it is mentioned in Vietnam Export Data and Vietnam Import Data for the year 2020. In the year 2020, the nation exported broadcasting equipment worth USD 42 billion which made it the 2^nd biggest country in the world to do so. Surprisingly, broadcasting equipment became the most favorite export good of Vietnam in the year 2020.

Although Vietnam exported broadcasting equipment to multiple nations as mentioned in Vietnam Export Data in the year 2020, the most popular export partners of the nation were:

· The United States (USD 14.1 billion)

· The United Arab Emirates (USD 2.9 billion)

· Germany (USD 1.98 billion)

· The United Kingdom (USD 1.65 billion)

· Austria (USD 1.58 billion)

Among all the nations, there were three main nations with whom the exports grew unconventionally between 2019-2020, they were the United States, China, and Canada.

On the other hand, Vietnam imported broadcasting equipment too from different nations in 2020 as per Vietnam Import Data for that year. Vietnam imported equipment worth USD 3.05 billion making it the 29^th biggest importer of broadcasting equipment. Based on the analysis, broadcasting equipment became the 11^th most imported product in Vietnam.

As per the Vietnam Import Data for the year 2020, Vietnam majorly imported broadcasting equipment from the following nations:

· China (USD 1.99 billion)

· The United States (USD 400 million)

· Singapore (USD 200 million)

· South Korea (USD 185 million)

· Japan (USD 84 million)

The fastest growing nations among all were the markets of the United States. South Korea, and China.

CONCLUSION

We would like to thank you if you are reading this blog till here. We hope that the contents mentioned in the blog are of any help to you. Now, we would like to close this discussion by mentioning that broadcasting equipment is now a very important piece of equipment for any country. Be it the simplest technological item like a video game to the most complex item like Rolls Royce, broadcasting equipment is used in every item.

In the future, the demand for this equipment will grow more and Vietnam Export Data will observe a boost in the exports of these commodities.

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If you want further analysis and the best advice about the Import Export Data or Global Trade data of any country, then get in touch with TradeImeX® Info Solution Pvt Ltd. We are one of the best companies available online that provide 100% accurate and reliable trade data from more than 70 countries including Philippines Export Data and Vietnam Import Data at affordable prices. We are determined in providing adaptive databases to our customers which are highly modified and made as per each client’s needs and wants. Due to all these reasons, we are known as the best Import Export Data Provider in the industry.

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