Source: P&S Market Research
IPTV Market Size is Expected to Reach $98,019.3 Million by 2023: P&S Market Research
NEW YORK, May 31, 2018 (GLOBE NEWSWIRE) -- Global IPTV market is expected to reach $98,019.3 million by 2023, availability of bundled offers, fast broadband networks, government initiatives, and high demand for video on demand (VoD) services are the major factors driving the market growth.
On the basis of transmission method, the IPTV market has been categorized into wired and wireless transmission, of which the wireless transmission is projected to grow faster, witnessing a CAGR of 16.4% during the forecast period. This can be attributed to the elimination of cabling and wiring hassles, and the feasibility it provides to the users to access a program from any place, using a wireless device.
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On the basis of end user, the market has been categorized into residential and enterprises. With rising corporate interest to communicate with employees, improve training, meet compliance requirements, and reduce travel costs, the IPTV market is expected to see faster growth from enterprises, witnessing a CAGR of 15.8% during the forecast period. Besides, corporate entities across various industries including hospitality, education, finance, media, energy, healthcare, and transport are increasingly using IPTV services to build additional revenue streams such as targeted advertising. These entities also use IPTV solutions to distribute on-demand content, event information, archived and live news, and public screens spread across their corporate network.
Owing to the increasing improvements in internet infrastructure, a hike in the number of IPTV subscribers has been observed. Rapid advancements in compression, transmission, and watermarking technologies are encouraging telecom providers to add IPTV services to their offerings. IPTV services consume heavy data packets and higher bandwidths, which are offered by improved and finer internet infrastructure.
In addition, improving internet infrastructure is transforming telecom operators into digital service providers. At the same time, they are also transitioning towards broadband internet protocol, which leads end-users to access television as an IPTV service.
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Players in the IPTV market are focusing on maintaining low subscription fees, offering bundled packages along with more provisions in rural areas.
A small number of companies supply the latest IPTV systems. Some major telecom vendors, such as Ericsson, ZTE Corporation, and some IT houses led by Microsoft, are also active in this space. In recent years, telecom operators have started focusing on launching broadband access that acts as a replacement for the declining voice business, impacted by mobile substitution.
The market is undergoing vertical integration, wherein telecom operators are observed to be collaborating with TV manufacturers, to develop TV units with built-in set-top-boxes. Such collaborations are being complemented with joint agreements between TV manufacturers and telecom operators to promote IPTV services.
Some of the key players operating in the IPTV market are AT&T Inc., Verizon Communications Inc., Orange, Deutsche Telekom, Telefonica, BT Group plc, Rostelecom, and SK Telecom.
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