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New York, Aug. 18, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “IPTV Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06483789/?utm_source=GNW
The Internet Protocol Television (IPTV) Market size is expected to grow from USD 37.22 billion in 2023 to USD 88.78 billion by 2028, at a CAGR of 18.99% during the forecast period (2023-2028).
Key Highlights
The market is shifting from traditional broadcasting modes such as cable or satellite TV to internet-based streaming. Internet Protocol Television (IPTV) plays a significant role in this transitional phase. With improved communication technology and advancements in network architecture, these developments have also positively impacted the market.
Technological advancements have led to increased IPTV subscribers, and there is a growing demand for HD channels and video-on-demand services. The subscription numbers are also rising due to new market expansion. The increasing penetration of Internet-based streaming services is expected to drive the market further.
Companies offer complex deliverables combined with over-the-top (OTT) services, video calling/conferencing, smart home technologies, and video games. Such lucrative strategies adopted by these companies attract clients, leading to an increase in subscribers and driving IPTV market growth.
Moreover, government initiatives in developing countries like India that favor digital television are fueling the adoption of Internet Protocol Television. However, competition from local cable TV and satellite TV, due to their lower cost and lack of infrastructure for quality and jitter-free service, is limiting the adoption of IPTV to an extent, especially in developing and underdeveloped countries.
Internet Protocol Television (IPTV) Market Trends
Demand for High-Definition Channels and Video On-Demand to Augment the Market Growth
The growing economies across the world are increasing the disposable income of the population in those countries, which is improving people’s lifestyles, especially in developing countries. As a result of these economic changes, internet penetration has drastically improved across the globe.
These factors have led to increased demand from television service consumers for better user experiences in terms of both quality and on-the-go viewing options. Cisco predicted that globally, Internet-video-to-TV traffic would account for 18% of consumer Internet video traffic by 2022, down from 25% in 2017. The rise of live streaming also led to an increase in Internet usage, making Internet penetration a vital factor in this trend..
As of the end of July 2022, the Internet penetration rate reached 63%. North Europe has the highest internet penetration rate, with 98% of the population having Internet access. In contrast, the Asia-Pacific region has the highest number of Internet users, followed by North America.
With the availability of cheap internet data, consumers are demanding high-quality television experiences, driving the growth of the internet protocol television market.
Asia-Pacific Expected to Grow Significantly
Over-the-top and Internet-protocol-television (IPTV) are gaining traction driven by increasing broadband penetration and changing content consumption behaviors in the region. The effect can be significantly observed in Asian countries like India and China, representing 7% and 2.8% GDP growth rates in FY 2022. Further, rapid urbanization in India and China are the major countries in the region and play a significant role in adopting IPTV in households.
Rising investment in content has led to the creation of new content offering which is beyond Hollywood. Increasingly, India is becoming one of the content hubs, with a wealth of material being created for consumption locally and worldwide. Also, the growth of smartphone users in the region since 2010 has fuelled the demand for IPTV services in mobile devices. The number of smartphone users in its region is half that of global smartphone users, which has crossed the mark of 6 billion in the year 2022.
Moreover, Indian government initiatives towards digital transformation, such as digitization of cable TV and Direct-to-Home (DTH) services, are also favoring the adoption of IPTV in the country. The advent of network service providers has changed the IPTV scenario in India, with the company providing free IPTV live subscriptions to its customers. With other companies following suit, the demand for mobile-based IPTV services is expected to increase in the region.
Internet Protocol Television (IPTV) Industry Overview
The Internet protocol television (IPTV) market trend is consolidated but inclining towards fragmentation with the increasing number of players offering the hardware setup and IPTV service systems. Also, the market is undergoing vertical integration as TV manufacturers are partnering with telecom companies providing built-in set-up-box encouraging the adoption of IPTV.
In April 2022, Tripleplay announced the launch of the new version of its leading digital signage, enterprise video, and IPTV software platform, Caveman 3.2, delivering enhancements and new features for existing and new solutions users.
In March 2022, – M-net, a German provider of fiber-optic networks, announced the launch of TVplus, an IPTV platform in cooperation with Ocilion. Additionally, the corporation included interactive TV add-on features, including time-shifted TV, direct access to TV catch-up services, recording and storing TV shows in the cloud, and mobile use via smartphone/tablet apps and online browsers.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06483789/?utm_source=GNW
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