The production switcher market registered a total value of $325 million globally in FY24. Market value decreased by just under 10% and volume dropped by just over 10% compared to FY23. The overall decrease in market value was driven by declines in the <$10K and >$50K price segments.
The high-end market accounted for $93.5 million globally in FY24, declining by over 10% compared to the previous year. The overall decrease in value was due to the significant investments in previous years, such as preparing for the 2024 Paris Olympic Games and various investments in live events, as the market recovers from the COVID-19 pandemic.
Most regions experienced a decrease in market value in FY24, except for MEA and Latin America. The overall decline was the result of a combination of factors, such as economic uncertainties, geopolitical tensions, and the slowdown following a period of significant investment. The growth in MEA and Latin America was mostly due to various equipment upgrade projects.