Internet Protocol Television Market 2020: Industry Growth by Forecast to 2023
Posted by Eshu Gupta on September 30th, 2020
Market Research Future (MRFR) has asserted fast-track growth for the global internet protocol television (IPTV) market which is expected to reach a significant valuation in the coming years. IPTV provides a secure means to deliver high-quality services to end users over a private or managed network. IPTV is the convergence of communication, computing, and content which facilitates the provision of digital television services over Internet Protocol (IP) for residential and business users at a lower cost.
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With the increase in internet penetration rates, the demand for internet protocol television is likely to inflate. Internet devices have become mainstream, and consumers prefer an upgrade to on-demand content offerings at minimal incremental cost. Cable operators and satellite broadcasters are increasingly leveraging IPTV to deliver additional channels to their subscribers. The intensifying demand for tailored TV content has been a critical driver of the market growth for IPTV. Viewers these days want more choice and control over the content they are viewing, and IPTV provides the unique advantage of subscribing to the content consumers like at their convenient time. IPTV provides access to niche content which is a significant attraction for users. Also, the massive popularity of video-on-demand (VoD) is catalyzing the growth of the market. IPTV is being used across diverse industries to create targeted advertising-on-demand video which further bolsters the growth of the market. The uptake of IPTV was earlier confined to the early adopters, but content producers are progressively commencing towards making the technology available to the users of developing countries which provides ample opportunities for market expansion. There have been some promising developments in the IPTV space which allows IPTV service providers to deliver premium quality service to viewers. On the contrary, network issues such as limited bandwidth and low internet penetration rates might pose a challenge to the growth of the global IPTV market. In addition, the rising popularity of Over the Top (OTT) solutions, such as Amazon Prime Video and Netflix is also expected to hinder the growth of the global IPTV market.
The global IPTV market has been segmented based on subscription type and model. By subscription type, the market has been segmented into subscription-based and subscription fee. By model, the market has been segmented into live and on-demand.
North America, Europe, Asia Pacific, and the Rest of the World are the key markets for the Internet Protocol Television (IPTV) Market. North America and Europe generate a relatively larger share of the global IPTV market in terms of an overall number of subscribers while Asia Pacific remains the largest market due to very low average revenue per user in countries such as India and China.
Growing penetration of internet in the Asia Pacific region has facilitated the rapid growth of the IPTV market in Asia Pacific. Moreover, the governments in the emerging economies of the region are initiating towards launching IPTV services since they do not require investment on infrastructure. Rapid urbanization, expansion of the middle class and fast-growing economy present a host of opportunities to the Asia Pacific IPTV market.
Europe too is a prominent market for IPTV, led by France, the UK, and Germany. Rising popularity of video on demand and growing investment in telecommunication services contribute to the growth of the Europe market.
The global IPTV market is highly competitive with a plethora of players competing to gain an edge over the market. Amidst the rapidly developing market landscape, the existing market players are leveraging various strategies to tap into the opportunities presented by IPTV. Moftak Solutions, Akamai Technologies, AT&T Inc., Tripleplay Services Ltd., Cisco Systems, Inc., ARRIS International Plc, Verizon, Ericsson AB, Huawei Technologies Co., Ltd, Sterlitetech are the notable players operating in the global internet protocol television market.
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About the AuthorEshu Gupta
Joined: July 8th, 2020
Articles Posted: 120
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