The IABM (Associate of Broadcasting Manufacturers) has announced findings from its latest business intelligence reports: the Industry Index report and Industry Trends survey.
The Industry Index report covers the performance of 70 companies in the North American and European broadcast and media technology sector. One of its key findings was that while North American companies have faster growing sales, European companies are reporting higher profits.
“Overall, larger companies are growing sales over 5% per annum while SMEs are struggling with a shrinking sales of minus 5%,” said Peter White, director general, IABM. “Year on year for the total market, however, aggregate sales figures are actually 4.5% and profit growth is minus 24%.”
However, the outlook for 2014 is positive based on the results of the Industry Trends survey. A cross section of organisations in the global broadcast manufacturing and media technology sector indicated increased confidence in the market with 43% forecasting improvements in 2014. Other key findings include 75% of companies reporting order levels that are expected or better than expected with the majority of sales coming from Western Europe, North America and Asia.
“A total of 60% of respondents indicated that confidence was increased or significantly increased for the year ahead, while only 6% had the opposite view. This is a significant change from last quarter where forecasts for the upcoming year where the most negative in four years,” commented White.