The <$10,000 production switcher market accounted for a total value of $157.5m globally in FY2022, a 2% increase from the previous year. The increase in market value is a result of a shift in product mix, with a greater proportion of $3,000 - $9,999 production switchers being sold into the market. This is predominantly due to the recovery of the rental and staging and outside broadcast verticals after the COVID-19 pandemic.
Overall, there is a slowdown in production switcher purchases after a period of panic buying during the COVID-19 pandemic. The market volume has decreased in unit terms by 14% and the market volume in terms of inputs has decreased by 20% in FY22 compared to FY21.