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Internet Protocol Television Market Size Worth $67.6 Billion By 2027 | Grand View Research, Inc.

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Internet Protocol Television Market Size Worth $67.6 Billion By 2027 | Grand View Research, Inc.

May 29
08:58 2020
Internet Protocol Television Market Size Worth $67.6 Billion By 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global internet protocol television market size was valued at USD 39.2 billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% from 2020 to 2027. The rising trend of viewing content via the internet and the continuous price reduction of bundled packages is expected to increase the subscriber base.

The global internet protocol television market size is anticipated to reach USD 67.6 billion by 2027, exhibiting a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. The integration of Artificial Intelligence (AI) with IPTV is expected to offer lucrative growth opportunities to service providers. AI-based voice-enabled search and discovery function enables users to explore the desired programs using natural language even when users do not know the name of an application. Further, the launch of AI-enabled IPTV set-top-boxes featuring voice assistants is expected to help service providers gain a larger subscriber base over the forecast period.

The Covid19 outbreak would require people to confine themselves at home for a prolonged period. This could have a positive impact on IPTV viewership in the short term. Will the service providers be able to churn out revenues through long-term engagements? Our coverage in this market will account for and consider Covid19 as a key growth contributor.

Advancements in video coding technology also offer significant growth prospects to the IPTV market. Owing to the high network bandwidth requirement of IPTV services, suitable video coding technology enables broadcasters to distribute content in multiple formats efficiently. Video coding has allowed users to access video-based content on diverse platforms such as smartphones and tablets, PCs, and media players, thus ensuring increased market penetration. Advancements in video coding technology have further led to improvements in dynamic encoding style, resolution encoding, and frame rate encoding, which helps in increasing the quality and leverages the resolution and movement, thereby improving user experience.

The advent of 5G technology offers significant growth aspects owing to the increased capability of network slicing and enhanced content distribution networking abilities. 5G technology leveraged Multiple Input Multiple Output (MIMO) and formed beam techniques ensure maximum utilization network, thus providing reduced distortion and greater precision in signal transmission. Furthermore, heavy traffic from cloud-based content libraries can easily be distributed due to the high bandwidth capability of the 5G delivery model, thus offering an impetus to the market growth. Additionally, the ability of the 5G delivery model to provide UHD viewing experience to the users at affordable rates provides a boost to the market growth.

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Some prominent players in the IPTV market include:

  • AT&T Inc.
  • Cisco Systems, Inc.
  • Deutsche Telekom AG
  • Huawei Technologies Co., Ltd.
  • Verizon Communications Inc.

 

https://www.grandviewresearch.com/static/img/research/us-iptv-market.png

Increased penetration of smart TV and enhanced functionality offered due to the integration of IPTV technology offers impressive market growth opportunities owing to its ability to interconnect with smartphones and tablets. Recent updates by Google Inc. in the distribution of content via set top boxes provide more control to operators, such as start-up, the UI, the application, set-up procedure, and prioritization of content, which is expected to enhance internet protocol television delivery by operators. Furthermore, service providers are offering hybrid IPTVs, which has mitigated the need to implement a separate set top box. Additionally, hybrid IPTVs integrate the functionality of traditional TV services with IPTV, thus featuring enhanced service offerings, which is expected to promote wide-scale adoption of IPTV services.

IPTV market highlights:

  • The subscription-based IPTV segment is expected to showcase the fastest growth over the next few years. The growth is attributable to an emerging need amongst individuals to indulge in the ad-free and personalized viewing experience
  • Growing internet infrastructure development is offering significant prospects to the market growth
  • Asia Pacific is expected to emerge as the fastest-growing regional market due to the growing penetration of affordable internet-based services and rising acceptance of the internet as a utility

The global internet protocol television market size was valued at USD 39.2 billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% from 2020 to 2027. The rising trend of viewing content via the internet and the continuous price reduction of bundled packages is expected to increase the subscriber base. IPTV’s virtue of flexible deployment, interactive and interoperable user interface, and highly personalization ability offers lucrative prospects to the market growth. Furthermore, the ability of this broadcast network to permit the deployment of one application program by multiple users in a single service network enhances the usability and functionality of the technology.

Service providers are offering triple-play bundled package services, including voice, video, and data, in one single access subscription, that has resulted in attracting a large customer base. Service providers are making significant investments in delivering and marketing triple-play services, with a large amount spent on their delivery infrastructure as well. Moreover, customers are trying to create a customized package as per their requirements, as the customers are not impressed with the current deals the providers are offering. Therefore, service providers such as MatrixStream Technologies, Inc. and AT&T, Inc. are offering customized solutions after reviewing the customer requirements, thereby helping them increase their subscriber portfolio.

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The transition from legacy broadcasting methodologies to broadband internet protocol is also offering significant prospects to the industry growth. The internet-based content delivery system facilitates a more straightforward and more effective distribution of content for providers, thus leading to incremental adoption of IPTV services. Additionally, a rising trend amongst telecom operators to deliver integrated services with internet packages is providing an impetus to industry growth. Telecom companies are also increasingly leveraging IPTV technology to transform into Complement Digital Service Providers (CDSP), owing to growing developments in internet infrastructure.

https://www.grandviewresearch.com/static/img/research/global-iptv-market.png

 

The integration of cloud technology offers growth opportunities for the industry. Leveraging cloud technology enables efficient statistical multiplexing, which offers cost-saving capabilities due to network virtualization features. The use of cloud technology for content delivery also allows service providers to lower costs related to storage and distribution content, which enables them to reduce the cost of service as well as ensure efficient profit generation.

Covid-19 Impact

The current outbreak of a global pandemic, Covid-19, offers temporary yet significant prospects to the IPTV market growth. The present scenario of people being confined to their homes due to lockdown being implemented by various state and national governments facilitates the need to subscribe to internet protocol television services. Furthermore, the rising trend of internet usage in households due to the implementation of ‘work-from-home’ practices has further resulted in higher internet consumption. The need to subscribe for better internet packages with faster speeds and provision offered by service providers to adhere to add-on facilities such as IPTV services at minimal prices is further providing an impetus to the industry growth.

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Furthermore, the closure of schools globally has facilitated the setting up of new channels that offer free, tailored content to existing subscribers. For instance, China Telecom Corp. Ltd. and China Unicom Ltd. in China and have started offering free online educational content and live sessions for students. Additionally, closing down of religious places and places of the public gathering are facilitating religious groups, such as churches, to broadcast their services via specified channels. KT Corp. in South Korea offers free usage of Olleh TV Community User Group for users to gain access to preaching offered by churches digitally.

Grand View Research has segmented the global IPTV market on the basis of subscription type:

IPTV Subscription Type Outlook (Number of Subscribers, Million, 2016 – 2027)

  • Subscription-based IPTV
  • Subscription-free IPTV

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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