The global broadcasting & cable TV market size was valued at USD 325.12 Billion in 2022 and is likely to reach USD 431.68 Billion by 2031, expanding at a CAGR of 3.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the integration of Augmented Reality (AR) and Virtual Reality (VR) in broadcasting technology.
Broadcasting & Cable TV Market Trends, Drivers, Restraints, and Opportunities
TV broadcasters are developing their own OTT platforms and providing past content from libraries, which in turn, is responsible for the market growth.
Provision of packages, which provide internet connections with TV channel subscriptions, is estimated to drive the market.
Users are provided with an option to choose content according to their preferences. This is anticipated to fuel the market.
Internet streaming, broadcasting rights, and statutory rights owned by TV broadcasters prevents others from rebroadcasting the content without permission.
Scope of Broadcasting & Cable TV Market Report
The report on the broadcasting & cable TV market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Broadcasting & Cable TV Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Technology (Satellite TV, Cable TV, Internet Protocol TV, and Digital Terrain TV), Revenue Channels (Advertising and Subscription), and Regions
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Comcast Corporation, AT&T Inc., DISH Network L.L.C., FOX, and Discovery Communication, Inc.
Broadcasting & Cable TV Market Segment Insights
Technology Segment Analysis
Based on technology, the global broadcasting & cable TV market is segregated as satellite TV, cable TV, internet protocol TV, and digital terrain TV. The satellite TV segment is expected to expand at a robust CAGR during the forecast period. The growth of the segment is attributed to rising preference of consumers towards subscription for bundled packages that provide both OTT and pay-TV services.
Provision of high-definition picture quality is expected to increase the demand. Moreover, the provision of satellite transmission in different locations to display live events, such as live news and sporting events is responsible for the market growth. Inconsistency in internet speeds and associated high costs limits user access to OTT media delivery platforms.
The cable TV segment is anticipated to expand at a substantial CAGR during the forecast period. The growth of the segment is attributed to distribution of 8K and UHD picture quality through existing lines, thus guaranteeing continuous business.
Increasing progress of technologies, such as software-defined network (SDN) and network function virtualization (NFV) enable service providers to enhance and deploy service offerings in a flexible and scalable method. The rate of cable TV adoption has decreased, due to changing preference of individuals towards media delivery platforms.
Revenue Channels Segment Analysis
On the basis of revenue channels, the global broadcasting & cable TV market is bifurcated into advertising and subscription. The advertising segment is anticipated to expand at a substantial rate during the forecast period.
The growth of the segment is attributed to increasing penetration of satellite TV and cable TV networks in rural households and growing need among marketers to expand their customer base. Flexible purchasing options and easy network inventory have helped advertisers to assign budgets and gain screen time accordingly. All these factors are expected to propel the market.
The subscription segment is estimated to expand at a robust CAGR during the forecast period. Consumers are opting for premium subscriptions offered by media service providers to experience advertisement-free viewing. Moreover, there has been an increase in demand for unbundled packages, which helps consumers subscribe to packages according to their choice. This is driving the segment.
In terms of regions, the global broadcasting & cable TV market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand, due to rising trend of event-based viewing rather than buying bundled packages, due to its cost-efficiency. Increasing adoption of OTT streaming platforms such as Amazon Prime, Netflix, and Hulu are anticipated to boost the segment growth.
The market in Asia Pacific is projected to expand at a considerable CAGR during the forecast period. Increasing adoption of subscription video on demand (SVOD) in China, owing to its ability to provide customization options, is boosting the market in the region. Availability of low-cost internet plans and increase in demand for IPTV are driving the market in the region.
The global broadcasting & cable TV market has been segmented on the basis of
- Satellite TV
- Cable TV
- Internet Protocol TV
- Digital Terrain TV
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Comcast Corporation
- AT&T Inc.
- DISH Network L.L.C.
- Discovery Communication, Inc.
Key players in the global broadcasting & cable TV market include Comcast Corporation, AT&T Inc., DISH Network L.L.C., FOX, and Discovery Communication, Inc. Service providers are offering language specific packages to gain deep market penetration. For instance, DISH Network L.L.C. recently added Latino packages to its service to attract Portuguese and Spanish viewers in Latin America.