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Pay TV Market is expected to reach USD 209.0 Bn by 2030
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According to the Market Statsville Group (MSG), the global pay TV market accounted for USD 182.8 billion in 2021 and is expected to reach USD 209.0 billion by 2030, registering a CAGR of 1.5% from 2022 to 2030. Pay TV is a system by which television programs are transmitted encrypted to those who have paid for it; hence it is called as subscription television. Pay TV includes local as well as premium content. Companies offering pay TV equipment demonstrate use cases that increase workplace productivity, efficiency, and compliance.
Advancements in the technology and trends are expected to generate opportunities for the pay TV market in the future. Video-on-demand (VoD), personalized content, and HD viewing are expected to improve and increase usage of pay TV. For instance, Pay TV operators in Nigeria have increased the number of viewing options for Nigerians in the last two years. It made global programming accessible, mostly live events such as entertainment and sports. An increase in demand for Internet Protocol television and a reduction in subscription cost are driving the global pay TV market growth.
Global Pay TV Market Definition
A subscription to a television service from a cable, satellite, or phone company is known as pay TV. It's a television programming service that caters to both residential and commercial customers. Pay-TV is also known as subscription television or premium television. Movies, sporting events, news channels, and other programs are available on pay-TV.
Global Pay TV Market Dynamics
Drivers: Increasing demand of IPTV
Growing penetration of internet-based streaming services is boosting the market. The market is going through a paradigm shift from traditional broadcasting modes toward internet-based streaming, and Internet Protocol Television has a major role in this phase.
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IPTV stores the programming on servers at the transmitting end, allowing users to request the content over the internet as per their time. IPTV services can be accessed from IP-enabled TV, mobile phones, PCs, and others and can be easily incorporated into a video-on-demand solution, increasing the demand for on-demand solutions.
Restraints: Content Security
The main reason which is hampering the growth and usage of pay TV is the content security concern, it is due to high chances of piracy. The content broadcasted on pay TV is not secured and it is one of the main hurdles to the growth of the pay TV market. There are chances of unauthorized duplication of copyrighted content that is then sold at substantially lower prices in the 'grey' market.
Scope of the Global Pay TV Market
The study categorizes the pay TV market based on type and applications at the regional and global levels.
By Type Outlook (Sales, USD Million, 2017-2030)
- Cable TV
- Satellite TV
By Application Outlook (Sales, USD Million, 2017-2030)
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By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
The cable TV segment is projected to account for the largest market share, by type
By type, the Pay TV market is divided into cable TV, satellite TV, and IPTV. In 2021, The cable TV segment was the highest contributor to the market, with a market share of 52.5% in the global pay TV market. Cable TV distributes television signals by coaxial or fiber optics cable. The growth of cable TV can be attributed to a simpler distribution of 8K and UHD picture quality by existing lines. Further, the increasing demand for TV sets, especially in rural areas, is boosting the demand for cable TV. DTH subscription is growing rapidly. There is a rising trend in a personalized experience, multiple functionalities, and premium television cable and DTH offerings in India.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global pay TV market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is estimated to hold the highest CAGR of 2.8% in the global pay TV market during the forecast period (2022-2030). Asia-Pacific is the most lucrative region for the vendors in the Pay TV market mainly since digitalization is yet to penetrate entirely into the region. Hence, people still rely on television for video content.
Government investments and initiatives in emerging economies; increase in internet users; growth in demand for online content on pay TV. Several Asian-Pacific markets adopt new technology extensively, specifically in television and smartphones. The region is expected to emerge as the fastest-growing regional market due to comparatively lower internet rates and daily content upgrades, which ensures easier access to consumers.
Report Analysis: https://www.marketstatsville.com/pay-tv-market
Key Market Players in the Global Pay TV Market
Market players are meticulously planning their strategies to maximize opportunities from the growing pay TV market. Key market players in the pay TV market use various strategies, including strategic collaboration, product launches, and partnerships. The growth of the pay TV market is fueled by the adoption of pay TV in the residential and commercial areas, as well as increased public awareness of the benefits of pay TV and its cost-effectiveness.
Major players in the global pay TV market are:
- Xfinity (Comcast Corporation)
- Charter Communications (Spectrum)
- DISH Network Corporation
- Tata Sky
- Airtel Digital TV
- Dish TV India Limited
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