The global pay TV market size is projected to be USD 260.0 billion in 2027, according to a new report by Million Insights. It is projected that the market would register 1.7% CAGR from 2020 to 2027. Owing to the increasing competition from OTT media players, pay TV service providers are changing their business models. As a result, emerging players like MOBIT is providing cost-effective, flexible and customized content. This is projected to encourage new and existing players to diversify their services.
It is projected that the IPTV segment would register considerable growth over the forecast duration. This growth is attributed to high-speed internet connectivity and the advent of 5g technology. High-speed internet connectivity has enabled users to access high-quality content at a competitive price. The hospitality sector is a major end-user of IPTV services and it is projected to support the market growth over the forecast duration.
Further, technology such as Multi-access Edge Computing (MEC) is likely to bring applications and content closer to the edge of the network, thereby, improving latency. This technology enables easy access to content with minimum delay. Moreover, MEC technology is projected to provide enhanced security to users by safeguarding information of viewers.
The demand for cloud-based streaming platforms is gaining traction across the world owing to increasing preferences among consumers to access the content from various devices such as mobile, tablets and others. Moreover, cloud helps in leveraging “as-a-service” model of business, thereby, gaining popularity.
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Further key findings from the report suggest:
• The IPTV segment is estimated to register over 7.0% CAGR over the forecast duration. This growth is attributed to the increasing popularity of OTT platforms.
• The satellite-based technology is likely to register considerable growth as it offers live streaming services at a low cost.
• It is predicted that Asia Pacific would emerge as the highest growing market over the next seven years.
• Major players operating in the pay TV market are DISH Network Corporation, Comcast Corporation, DIRECTV and Foxtel among others.
Million Insights has segmented the global pay TV market on the basis of technology, and region:
Pay TV Technology Outlook (Subscribers, Million; Revenue, USD Billion, 2016 - 2027)
• Cable TV
• Satellite TV
• Internet Protocol Television (IPTV)
Pay TV Regional Outlook (Subscribers, Million; Revenue, USD Billion, 2016 - 2027)
• North America
• Asia Pacific
• Latin America