IPTV Market worth $115.2 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 6, 2021 /PRNewswire/ -- According to a new market research report "IPTV Market with COVID-19 Impact Analysis, by Component (Hardware, Software, Services), Streaming Type, Subscription Type, Transmission Type (Wired, Wireless), Device Type, Application, End User, Vertical, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the IPTV Market size is projected to grow from USD 50.9 billion in 2021 to 115.2 USD billion in 2026, at a Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period.
The major factors driving the growth of the IPTV Market are the growing preference for video-on-demand and growing demand for high-definition channels, Increase in internet video advertising, and rising internet penetration.
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Based on the Component, the hardware segment to account for a larger market size during the forecast period
The IPTV Market has been segmented by three components: hardware, software services. The deployment of IPTV has witnessed an increase in adoption, as serves a variety of purposes, such as live streaming and video on demand service. The growing adoption of IPTV across all major verticals, such as media and entertainment, advertising and marketing, telecom and IT, healthcare and medical, gaming, online stores, to fuel the growth of the IPTV Market.
Based on application, the non-linear television segment is expected to hold the highest market size during the forecast period
The IPTV Market has been segmented by application into linear television and non-linear television. Among application, non-linear segment is estimated to account for the largest market during the forecast period. Non-linear TV services deliver media on demand to consumers. They are similar to video on demand services, in which consumers can watch their favorite TV program without waiting for a new episode, unlike traditional TV (linear TV).
Based on vertical, the media and entertainment segment is expected to hold the highest market size during the forecast period
IPTV are gaining acceptance among all verticals to improve profitability and reduce overall costs. The major verticals adopting IPTV and services media and entertainment, advertising and marketing, telecom and IT, healthcare and medical, gaming, online stores. Media and entertainment, by vertical segment, to account for a larger market size during the forecast period. The media and entertainment industry vertical seeks to interact with its consumers to achieve deeper customer engagement.
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North America to hold the highest market size during the forecast period
North America is estimated to account for the largest market share during the forecast period. In North America,4K video streaming, video on demand and broadcasting solutions are considered highly effective by most organizations and verticals. On the other hand, Europe is gradually incorporating these advanced solutions within its enterprises. APAC is witnessing a substantial rise in the adoption of IPTV owing to the increasing digitalization and rising demand for centrally managed systems.
Major IPTV Market vendors include AT&T (US), Verizon Communications (US), Ericsson (Sweden), Akamai Technologies (US), Broadcom Corporation (US), Airtel (India), Deutsche Telekom (Germany), Tripleplay Services (India), MatrixStream Technologies (US), CISCO (US), Huawei (China), Sterlite Technologies (India), Exterity (India), Centurylink (US), Orange S.A (France), Setplex (US), Vytio IPTV Solutions (US), Netup (Russia), Foxtel (Australia), Commscope (US), Teledata (Germany), IQStream IPTV(US), Telebreeze (US), Solid IPTV(Australia), LeezTV (Turkey), Broadpeak TV (France), Aigutech Technologies(India), IPTVPORTAL (Russia). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2019 to 2021, which helped companies innovate their offerings and broaden their customer base.
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