Media tech firms see sales grow 14%
Europe, Middle East and Asia set to overtake the United States as industry's biggest buyer.
The US$12 billion broadcast and media technology sector has seen a 14% increase in global sales, according to the International Association of Broadcast Manufacturers (IABM). This is the same figure as the previous year.
The trade body has also recently predicted that the EMEA region will overtake the US as the largest market for broadcast technology by 2010.
"Our market is changing fast and companies are achieving an excellent level of performance. The continued roll-out of HD and digital operating infrastructures is supporting that growth," said Roger Crumpton, IABM chief executive officer.
Despite the strong sales figures, year on year profit growth slowed from 40% last year, to 18%. This slowing rate of increase is being attributed to increasing spends on research and development by the tech firms.
Profit performance, as shown by profit-to-sales ratios, sees large companies faring better than their smaller competitors, making an average of 10% more profit per dollar of sales.
The figures are gathered by the IABM from 60 companies in the US and Europe who represent more than a two-thirds share of the global market.