Pay TV Industry Overview
The global pay TV market size is anticipated to reach USD 265.44 billion by 2028, exhibiting a CAGR of 1.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising competition from OTT media providers is promoting pay TV operators to disrupt existing business models and strategize more efficient profit generation methodologies. Additionally, emerging players, such as MOBITV, offer customized, cost-effective, and flexible options to their customers according to their demands, thus ensuring customer satisfaction. This is expected to promote new and existing players to diversify their existing service offerings and ensure healthy competition in the market.
The IPTV segment is expected to witness significant market growth over the forecast period due to the advent of 5G technology. Increased bandwidth and enhanced ability to build virtual end-to-end networks for specific applications is a major driving factor for the industry growth. Additionally, the rapid proliferation of the 5G delivery model in emerging economies is expected to provide consumers with a high-definition 4K viewing experience. Moreover, the adoption of 5G integrated with IPTV services is expected to enable the hospitality industry to improve its service offerings. The technology is expected to facilitate more efficient data collection, analysis, and optimization; to offer a more personalized TV viewing experience to its guests.
Pay TV Market Segmentation
Grand View Research has segmented the global pay TV market based on technology and region:
Based on the Technology Insights, the market is segmented into Cable TV, Satellite TV, and Internet Protocol Television (IPTV)
- The satellite TV segment captured the highest revenue share of 50.00% in 2020. The increasing demand for users to access newer networks, bonus features, and more modern channels are promoting service providers to diversify their service offerings.
- The cable TV segment also captured significant revenue share in 2020, owing to rising demands amongst customers to access and experience unbundled packages.
- The IPTV segment is expected to witness the highest CAGR of more than 8%, owing to augment of OTT media platforms and its high adoption rate amongst customers
Pay TV Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
DIRECTV, DISH Network Corporation, Carter Communications, Foxtel, and Comcast Corporation are some of the significant players in the pay TV industry space. Service providers have started offering several channels and covering telecasts of a higher number of live events, such as sporting events, thus getting a better opportunity to capture a higher market share. Furthermore, service providers have started offering consumer-specific social media applications, which allows users in a geographic region, with similar interests, to socialize and witness live sporting events together. For instance, DIRECTV has launched a mobile application for Android and iOS phones, which allows sports fans in a geographic region to interact and engage with one another, meet at pre-decided places, and experience live matches together.
Some prominent players in the global Pay TV market include:
- DIRECTV
- DISH Network Corporation
- Carter Communications
- Foxtel
- Comcast Corporation
Order a free sample PDF of the Pay TV Market Intelligence Study, published by Grand View Research.
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