Pay TV Market: Satellite TV Segment Will Continue To Witness Incrementing Growth
Pay TV Industry Overview
The global pay TV market size was valued at USD 230.68 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) exceeding 1.7% from 2021 to 2028. The emerging demand amongst consumers to leverage better quality content with high picture resolution is offering promising growth opportunities to the market. One of the primary growth drivers of the market is the ability to access high-quality content from different service providers on a single platform at affordable prices. Moreover, pay TV service providers now offer several value-added services such as customizable channel subscriptions, reduced subscription rates, internet connectivity, and bundled packages according to the users’ needs and demands, thus offering profit generation opportunities to service providers.
Gather more insights about the market drivers, restrains and growth of the Global Pay TV market
Service providers have started adopting integrated broadband broadcasting (IBB) systems to diversify their service offerings and facilitate better market penetration. The combination of broadcast and broadband technology has provided a potential advantage of delivering both efficient mass content delivery and personalized service. Moreover, the merger of Smart TV Alliance and HbbTV (Hybrid Broadcast Broadband TV) Association has enabled customers to view more TV applications along with enjoying better interactive experiences by accessing entertainment via their smart TVs or set-top-boxes. Additionally, smaller cable operators have started deploying HbbTV-based portals offering a wide variety of services on an HbbTV-equipped device.
The broadcasters have realized the importance of UHDTV services, which has enabled them to offer improved picture quality of the channels. The growing demand for UHD services is driven by the increased number of households with flat panel displays, able to present HD. Moreover, the pay TV provider investments in production lines and R&D are already sunk costs, and with the declining price levels, customers seem to be bound to adopt UHDTV services.
The widespread availability of broadband, high-speed internet, and powerful connected devices has enabled service providers to offer linear TV services and Video-on-Demand (VoD) anywhere and anytime. This has resulted in an emerging trend of downloading large videos such as specific TV shows or programs. Consumers are offered the ability to download choice content by pre-deciding the duration for content download and view these programs as and when needed, thus ensuring continual customer satisfaction and retention.
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Pay TV Market Segmentation
Grand View Research has segmented the global pay TV market based on technology and region:
Pay TV Technology Outlook (Subscribers, Million; Revenue, USD Billion, 2018 - 2028)
- Cable TV
- Satellite TV
- Internet Protocol Television (IPTV)
Pay TV Regional Outlook (Subscribers, Million; Revenue, USD Billion, 2018 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
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.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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