IMARC Group, a leading market research company, has recently releases report titled “Pay TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global pay TV market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the pay-TV market?
|
Report Attributes |
Details |
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Market Size in 2022 |
US$ 185.9 Billion |
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Market Forecast in 2028 |
US$ 199.7 Billion |
|
Growth rate (2023 to 2028) |
CAGR of 1.4% |
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Base Year of the Analysis |
2022 |
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Forecast Period |
2023-2028 |
What is pay TV?
Pay TV refers to a television service where viewers subscribe and pay for access to numerous content. It can be accessed via cable or satellite TV, with subscribers receiving a dedicated coaxial cable or satellite dish network set-top box. It also offers non-commercial television programming and higher-quality content in terms of resolution and sound compared to free-to-air television. In addition, it provides numerous advantages, such as incorporating billing, payment, customer management, and ordering functionalities into a single stack for comprehensive end-to-end solutions. Moreover, it offers scalability, cost-effectiveness, and transparent operation and provides several pieces of content, including movies, documentaries, live sports, TV series, and exclusive programming. Furthermore, it offers additional features such as interactive services, on-demand programming, and recording and pausing live TV. As a result, Pay Tv is widely adopted in commercial and residential industries across the globe.
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What are the growth prospects and trends in the pay-TV industry?
The market is primarily driven by the escalating demand for Internet protocol television (IPTV). Additionally, the increasing number of subscribers and the rising demand for high-quality content with high picture resolution from several providers on a single platform at cost-effective rates are contributing to the market growth. In line with this, the growing popularity of on-demand services and numerous advantages offered by pay-tv service providers include various value-added services, including minimized subscription costs, internet connectivity, customizable channel subscriptions, and bundled packages according to the individual requirements and demands that generate profit opportunities to service providers thus influencing the market growth. Moreover, the advancements in technology allow pay-TV providers to offer faster internet speeds, improved content, and advanced features such as on-demand programming and interactive services, representing another major growth-inducing factor. Besides this, the widespread adoption of integrated broadband broadcasting (IBB) systems to expand their service offerings and facilitate better market penetration with the combination of broadband and broadcast technology is accelerating the product adoption rate.
Along with this, the merger of the smart tv alliance and hybrid broadcast broadband tv (HbbTV) allows customers to view more tv applications with enjoying better interactive experiences by accessing entertainment through their set-top boxes and smart TVs, propelling the market growth. Apart from this, the pay-tv market is growing at different rates in numerous regions, with North America being the largest market due to continuous technological advancements, the wide availability of exclusive content, and the increasing popularity of sports programming across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, DIRECTV introduced a mobile application for iOS, and Android phones, that enables sports fans in a geographic region to interact and engage with one another, meet at pre-decided locations, and experience live tournaments together. Furthermore, the availability of high-definition (HD) and ultra-high definition (UHD) content through satellite networks, the integration of data analytics to understand public preferences, and the shift towards cloud-based technology are creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Postpaid
- Prepaid
Technology type Insights:
- Cable TV
- DTT and Satellite TV
- Internet Protocol Television (IPTV)
Application Insights:
- Commercial
- Residential
- Others
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bharti Airtel Limited
- DIRECTV (AT&T Communications)
- Dish Network Corporation
- DishTV India
- Fetch TV Pty Limited (Astro All Asia Networks)
- Foxtel (News Corp. Australia)
- Rostelecom PJSC
- Tata Sky Limited
- Tricolor TV
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