BANGALORE, India, June 24, 2020 /PRNewswire/ -- Pay television (TV) refers to a television broadcasting service based on consumer subscriptions. The pay TV service may be received through cable TV, satellite TV, or using an internet protocol TV (IPTV).
The global Pay Television market size is projected to reach USD 175.6 Billion by 2026, from USD 192.3 Billion in 2020, at a CAGR of -1.5% during 2020-2026.
Since there has been an increase in the use of streaming content, over the next few years, global Pay TV subscription revenues are projected to decrease. However, Pay TV providers have started introducing value added services to customers to stay competitive in the market.
The introduction of advanced predictive analytics models has contributed to Over-The-Top ( OTT) media's increasing power to provide better-customized suggestions. This advance has encouraged pay television providers to diversify and develop their services. Pay TV providers have started offering value-added services such as reduced subscription rates, customizable channel subscriptions according to users' choice, and internet connectivity at low prices.
Service providers have started adopting Integrated Broadband Broadcasting (IBB) systems to diversify their service offerings and facilitate better penetration into the market. The combination of broadcast and broadband technologies has created a potential advantage for the efficient distribution of mass content and personalized service.
High definition or HD bestows on the viewer a better viewing experience. HD content, however, is not accessible via cable networks; therefore, customers opt for the Pay TV satellite that provides access to a range of HD channels. The future foresees a transcendence of the TV industry towards HD content as there is a growing preference amongst the customers.
Data analytics has made it possible to gain insights into public preferences and the kind of content that can get traction. Consequently, new channels have emerged to cater to specific audiences. In addition, the entertainment industry puts focus on reality shows because they are considered to be more profitable in terms of ads. The customer base subscribes to Pay TV to gain access to these channels.
User-generated subscriptions and subtle advertisements are a disruptive trend in the entertainment industry, and vendors capitalize on that trend. As a recommendation to potential consumers, Pay TV service providers are introducing innovative marketing strategies such as offering discounts to current customers.
CHALLENGES THE CAN HINDER THE GROWTH OF PAY TELEVISION MARKET SIZE
One of the major challenges that can hinder the growth of Pay TV market size is the customer-base deviation caused by the OTT media services, which is leading to a definite decline in the revenues generated by the vendors.
Another challenge that has been perpetuating losses in the market is the increasing piracy.
PAY TELEVISION MARKET SHARE ANALYSIS
Due to the advent of 5G technology, the IPTV segment is expected to be experiencing significant growth over the forecast period. Increased bandwidth and increased ability to build end-to-end virtual networks for specific apps is a major driving factor for the industry.
The satellite TV segment will continue to witness considerable growth over the forecast period. The growth can be linked to providing low-priced access to live coverage of important events for customers.
Due to comparatively lower internet rates and regular content updates, Asia Pacific is expected to emerge as the fastest-growing regional market.
In 2019, the global Video on Demand market size was USD 41400 million, and it is expected to reach USD 58890 million by the end of 2026, with a CAGR of 5.1% during 2021-2026.
It is expected that the convenience of accessing video anywhere at any time, increased proliferation of smart devices, high-speed connectivity and affordability will drive the growth of the Video on Demand (VoD) market size across various end-users.
The global video streaming market size was valued at USD 38.56 Billion in 2018 and is projected to reach USD 149.34 Billion by 2026, growing at a CAGR of 18.3% from 2019 to 2026.
The solution segment dominated the overall video streaming market in 2018 and is expected to remain dominant over the forecast period due to numerous factors such as increased disposable income, improved living standards, increased smartphone penetration, easy internet accessibility, and lifestyle changes.
The SVOD market size was at USD 24.9 Billion in 2019 and is expected to reach USD 32.3 Billion by 2025, at a CAGR of 4.5 % over the forecast period 2020-2025.
This report focuses on global SVoD status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the SVoD development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The move to digital from analog delivery methods has been a key trend among traditional television platforms since digitization offers less constraint on the number of channels made available to viewers. The last few years have witnessed a gradual transition in the viewing preferences towards a medium where content is available on-demand and in a device-agnostic manner.
This report focuses on the global Pay TV Services status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Pay TV Services development in the United States, Europe, and China.
The Live Streaming market is analyzed, and market size information is provided by regions (countries). The key regions covered in the Live Streaming market report are North America, Europe, China, Japan, Southeast Asia, India, and Central & South America, etc.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type and by Application segment in terms of revenue for the period 2015-2026.
This report provides a complete quantitative data and qualitative analysis on the global market for Broadcasting and Cable TV. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
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