The global broadcasting & cable TV market was valued at USD 305.27 billion in 2020 and is expected to reach USD 397.65 billion by 2028, expanding at a CAGR of 3.2% during the forecast period, 2021 – 2028. The growth of the market is attributed to the integration of Augmented Reality (AR) and Virtual Reality (VR) in broadcasting technology.
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.
|Report Title||Global Broadcasting & Cable TV Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast|
|Segmentation||Technology (Satellite TV, Cable TV, Internet Protocol TV, and Digital Terrain TV), Revenue Channels (Advertising and Subscription), and Regions|
|Regional Scope||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa|
|Report Coverage||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.|
The satellite TV segment held a major share of more than 43% of total revenue in 2019
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.
The advertising segment held a major share of more than 76% of total revenue in 2019
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.
The market in North America held more than 44% of the total revenue in 2019
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.
Segments Covered in the Report:
The global broadcasting & cable TV market has been segmented on the basis of
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.
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