According to a new market research report published by Credence Research “Internet Protocol Television Market (End-user – Commercial and Residential) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global internet protocol television (IPTV) market was valued at US$ 30.64 Bn in 2015 and is estimated to expand with a CAGR of 13.0% from 2016 to 2023.
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Internet protocol television (IPTV) refers to television service that is delivered through internet over an IP-based network. The television signal is transmitted using a broadband internet connection which provides more efficient data transmission as compared to the traditional television broadcasting technologies. IPTV majorly comprises three features including video on-demand (VOD), digital video recording (DVR) and live television streaming. Similar to satellite and cable television, IPTV too requires an additional receiving device (set-top box) for receiving the service.
Increasing penetration of internet-based services is the most significant factor bolstering the IPTV market growth. According to the International Telecommunication Union (ITU), over 40% of the global population use internet, as of 2014, up from 16% in 2005. Further rise in the number of internet users is estimated to substantially spur the IPTV market growth in the coming years.
Enhancement in the internet infrastructure and video streaming services is another prominent factor fueling the IPTV market growth. Nevertheless, the factor is limited only to the developed countries. Major constraint for the market growth is the underdeveloped internet infrastructure in developing countries, where consumer base is the largest.
The global IPTV market is fragmented in nature with presence of various global as well as regional players in the market. The IPTV market encompasses large ecosystem including operators, middleware providers, set-top boxes vendors and others. The market is technology driven and hence the market players emphasize on providing high-end services to the consumers. Market players are now increasing efforts towards delivering high definition (HD) and ultra-HD (UHD) IPTV service to the consumers.
IPTV service providers face immense challenge from the traditional cable and satellite television service providers. In developing regions, cable and television service dominates the overall television segment. Due to poor network infrastructure and slower replacement trend, it becomes highly difficult for the IPTV service providers for market penetration. Thus, one of the major strategies adopted is to provide various additional internet services as a package along with IPTV.
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- Focus on HD and UHD IPTV service
- Wireless IPTV service
- Cloud-based IPTV service accessible from mobile devices such as smartphones, tablets and others
- Partnership and acquisition with other players in the IPTV ecosystem
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