Global Internet Protocol Television (IPTV) Market (2020 - 2025): Demand for High-Definition Channels and Video On-Demand to Augment Market Growth - ResearchAndMarkets.com
January 27, 2020 05:22 AM Eastern Standard Time DUBLIN--(BUSINESS WIRE)--The "Internet Protocol Television (IPTV) Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
“Internet Protocol Television (IPTV) Market - Growth, Trends, and Forecast (2020 - 2025)”
The Internet Protocol Television (IPTV) Market was valued at USD 40.85 billion in 2019 and is expected to reach USD 104.25 billion by 2025, at a CAGR of 16.9% over the forecast period 2020 - 2025. The market is going through a paradigm shift from traditional modes of broadcasting like cable or satellite TV towards internet-based streaming and, Internet Protocol Television (IPTV) as a system has a significant role to play in this transitional phase. With improved communication technology and advancements in the network architecture, these developments have also served the market affirmatively.
Technological developments have led to an increase in the number of subscribers for IPTV, and there is a need for HD channels and video on demand. Subscription numbers are also growing owing to new market expansion. Increasing penetration of Internet-based streaming services is expected to drive the market.
Companies are offering complex deliverables in combination with OTT, Video Calling/conferencing, smart home, and video-games. Such lucrative strategies adopted by companies are attracting clients, and the number of subscribers is increasing driving the IPTV market growth.
Also, government initiatives in developing countries like India favoring digital television are fueling the adoption of IPTV. However, competition from local cable TV and satellite TV due to lower cost and lack of infrastructure for quality and jitter-free service, especially in developing and underdeveloped countries are limiting IPTV adoption to an extent.
Television service consumers demand better user experiences in terms of quality and on-the-go television experience. Moreover, Cisco has stated that content over the internet is moving more towards video with an average of 190 GB data usage per household in the United States in 2017 out of which 95% of data consumed video content. Also, with the inclusion of the trend for live streaming, Internet usage increases and Internet penetration plays a vital role.
The Internet penetration rate reached 57% by the end of 2018. The North American region leads with 95%, whereas the highest number of internet users are more in the Asia-Pacific region, followed by Europe. The difference between internet users in these countries is as large as 1,300 million users.
Moreover, cheap internet data is available, resulting in consumers demanding high-quality television experiences, driving the growth for the IPTV market.
OTT and IPTV are gaining traction driven by increasing broadband penetration and changing content consumption behaviors in the Asia Pacific region. The effect can be significantly observed in Asian countries like India and China, which represented 8.2% and 6.2% GDP growth rate in FY 2018. Rapid urbanization in the region, which stands at 33% and 51% in India and China is playing a significant role in the adoption of IPTV in the 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 around the world. Also, the growth of smartphones users in the region since 2010, has fuelled the demand for IPTV services in mobile devices.
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 services providers has changed the IPTV scenario in India, with the company providing free IPTV live subscription to its customers. With other companies to follow suit, the demand for mobile-based IPTV services is expected to increase in the region.
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