The global broadcast equipment market is projected to grow at a significant CAGR during the forecast period. The key factors that drive the growth of the market include the rising number of devices integrated with the digital media as well as increased internet penetration. This has leveraged the customers with an option to access media content individually in terms of entertainment, social activity, and information at any time and anywhere. Further, an increase in the demand for the ultra-high definition content production and its effective transmission drives the growth of the market. The radical shift towards the software-oriented systems from hardware and open architecture-based systems also supports market growth.