Increased demand for high-definition channels and video-on-demand has fuelled the growth of the global IPTV market, states Transparency Market Research in a recent report.
The report indicates that growing at a strong CAGR of 18.1% from 2014 to 2020, the value of the worldwide IPTV market stands to rise from US$24.94 billion in 2013 to US$79.38 billion by 2020.
Geographically, the global IPTV market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe dominated the worldwide IPTV market in 2013, Western Europe being the largest revenue generator that year with a 38% share. The number of IPTV subscribers in this region has grown owing to reduced prices of IPTV subscription, rise in demand for enhanced user viewing experience, increased broadband penetration, and development of supporting infrastructure.
Asia Pacific is anticipated to be the fastest growing regional market for IPTV services over the course of the forecast period, with Asia Pacific excluding Japan (APEJ) registering an impressive 21.1% CAGR from 2014 to 2020. Indonesia, India, South Korea, and China are likely to be the key contributors during this period. With an ever-growing middle class income group, expanding broadband infrastructure, and a decline in service cost, China is projected to witness immense proliferation of IPTV subscribers over the next five years.
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