SAN FRANCISCO, Sept. 9, 2021 /PRNewswire/ — The global pay TV market size is anticipated to reach USD 265.44 billion by 2028, exhibiting a CAGR of 1.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising competition from OTT media providers is promoting pay TV operators to disrupt existing business models and strategize more efficient profit generation methodologies. Additionally, emerging players, such as MOBITV, offer customized, cost-effective, and flexible options to their customers according to their demands, thus ensuring customer satisfaction. This is expected to promote new and existing players to diversify their existing service offerings and ensure healthy competition in the market.
Key Insights & Findings:
- The IPTV segment is expected to witness the highest CAGR of more than 8%, owing to augment of OTT media platforms and its high adoption rate amongst customers
- Satellite TV segment will continue to witness incrementing market growth. This growth can be associated with the provision of offering customers with low-priced access to live coverage of important events
- The Asia Pacific region is expected to emerge as the fastest-growing regional market due to comparatively lower internet rates and daily upgrades being made, thus ensuring easier access to consumers
- Some of the key players in the market are DIRECTV, DISH Network Corporation, Carter Communications, Foxtel, and Comcast Corporation
Read 175 page market research report, «Pay TV Market Size, Share & Trends Analysis Report By Technology (Cable TV, Satellite TV, IPTV), By Region, And Segment Forecasts, 2021 – 2028», by Grand View Research
The IPTV segment is expected to witness significant market growth over the forecast period due to the advent of 5G technology. Increased bandwidth and enhanced ability to build virtual end-to-end networks for specific applications is a major driving factor for the industry growth. Additionally, the rapid proliferation of the 5G delivery model in emerging economies is expected to provide consumers with a high-definition 4K viewing experience. Moreover, the adoption of 5G integrated with IPTV services is expected to enable the hospitality industry to improve its service offerings. The technology is expected to facilitate more efficient data collection, analysis, and optimization; to offer a more personalized TV viewing experience to its guests.
Furthermore, Multi-access Edge Computing (MEC) technology is expected to bring content and applications closer to the network edge, thus reducing latency and enable service optimization. MEC facilitates users to access content with minimum delay and increase IPTV network capacity via Software-Defined Networks (SDN), which improves the user’s quality of experience, thus offering encouraging growth prospects to the market. Additionally, MEC is also expected to offer enhanced security to the network system by safeguarding viewers’ information and television viewing trends, which is expected to offer an impetus to the market growth.
Rising demand amongst customers to access television viewing experience from anywhere in the world on various devices such as mobile phones and tabs is promoting service providers to adopt cloud computing methodologies. Cloud computing offers a flexible and unified platform to holistically manage content monetization and security, thus enabling service providers to simplify business practices. Furthermore, the adoption of cloud technology also enables service providers to leverage the ‘as-a-service’ business model, thereby helping to generate new and sustained revenue streams.
Grand View Research has segmented the global pay TV market based on technology and region:
- Pay TV Technology Outlook (Subscribers, Million; Revenue, USD Billion, 2018 – 2028)
- Cable TV
- Satellite TV
- Internet Protocol Television (IPTV)
- Pay TV Regional Outlook (Subscribers, Million; Revenue, USD Billion, 2018 – 2028)
- North America
- Asia Pacific
- Latin America
List of Key Players of Pay TV Market
- DISH Network Corporation
- Carter Communications
- Comcast Corporation
Check out more studies related to the Global Digital Media Industry, conducted by Grand View Research:
- Broadcast Scheduling Software Market – The global broadcast scheduling software market size was valued at more than USD 1.05 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.5% from 2021 to 2028.
- Middle East Movies & Entertainment Market – The Middle East movies and entertainment market size was valued at USD 1.86 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.
- Telecom Services Market – The global telecom services market size was valued at USD 1,657.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter