Technavio analysts forecast the global IPTV market to grow at a CAGR of almost 16% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global IPTV market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The growth in the IPTV market is the result of an increase in the Internet-based services of high bandwidth and quality. More than 50% of the world population has access to the Internet, and it is anticipated that there will be a rise in the number of users in the upcoming years. The increase in Internet services will positively impact the IPTV market growth during the forecast period.
Technavio analysts highlight the following three factors that are contributing to the growth of the global IPTV market:
- Growing preference for VOD
- Increase in connected devices
- Growing preference for interactive services
Growing preference for video on demand (VOD)
VOD refers to the on-demand consumption of videos through digital platforms such as PCs, interactive TVs, and IPTVs. Through VOD services, the users are capable of downloading or streaming content from the traditional TV or online sources. It also offers the option of selecting the programs of choice, and watch it as per the user’s convenience and time. IPTV services convert television signals into encoded IP format.
Ujjwal Doshi, a lead media and entertainment services research analyst at Technavio, says, “The signals are then transferred to the STBs or other devices acting as a decoder to be viewed on televisions, digital TVs, and PCs. VOD services use a short or long form of the content. IPTV and VOD provide live and on-demand TV content. Hence, there is a growing preference for VOD in the market for IPTV.”
Increase in connected devices
IoT refers to the connected devices that can be linked to the Internet to provide remotely controlled connectivity. The networking technologies use connected devices for the electronic transmission of messages. The benefits of smart consumer devices, such as smartphones, tablets, PCs, and other such electronic devices, have increased their uses.
“The streaming of videos, online, and live contents has become easy and possible because of the growth and popularity of connected devices. These connected devices greatly support IPTV and all its services. The rise in the Internet traffic volume is driving the popularity of movies, videos, and music along with other shared online content,” adds Ujjwal.
Growing preference for interactive services
IPTV services support the basic interactivity to support navigation across available online content. EPG is an application for STBs and televisions for displaying the current and scheduled programs available on each channel. EPG allows the viewers to look at the program listings well in advance. It also helps the viewers to select the programs from previous dates.
EPG is a powerful search application that allows the users to look for the specific program based on the title or the genre. Also, filters are provided to choose from a list of movies, music, HD programs, and pay-per-view events. This customized support is helpful for the viewers as they can choose their favorite content and channels. The users, therefore, prefer IPTV and EPG services over traditional cable TV.
