IPTV Market Expected to Reach USD 146.2 Billion by 2031 | Top Players such as – Ericsson, Huawei and Verizon
Increasing penetration of Internet-based streaming services is expected to drive the market.
PORTLAND, UNITED STATE, March 17, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “IPTV Market Expected to Reach USD 146.2 Billion by 2031 | Top Players such as – Ericsson, Huawei and Verizon.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global IPTV market was valued at USD 59.7 billion in 2021, and is projected to reach USD 146.2 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
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Growing preference for video-on-demand and high-definition channels and increase in demand for alternative investment drive the global internet protocol television market. Based on region, North America held the largest share in 2021, contributing to more than one-third of the global internet protocol television market share.
The research provides detailed segmentation of the global internet protocol television market based on component, application type, industry vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on industry vertical, the media and entertainment segment accounted for the highest share in 2021, holding nearly two-fifths of the global internet protocol television market, and is expected to continue its leadership status during the forecast period. However, the IT & Telecom segment is estimated to grow at the highest CAGR of 11.6% during the forecast period.
Based on component, the hardware segment held the highest share in 2021, accounting for nearly two-fifths of the global internet protocol television market. However, the service segment is expected to register the highest CAGR of 10.9% from 2022 to 2031, and is expected to continue its leadership status during the forecast period.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global internet protocol television market share. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 13.0% during the forecast period, and is projected to maintain its dominant share in terms of revenue in 2031.
Leading market players of the global internet protocol television market analyzed in the research include Akamai Technologies, AT&T Inc., Ericsson, Verizon Communications Inc., Broadcom Inc., TRIPLEPLAY SERVICES LTD., Deutsche Telekom AG, Cisco Systems Inc., Huawei Technologies Co., Ltd., Airtel India.
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Covid-19 Scenario:
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global internet protocol television market, owing to implementation of global lockdown which resulted to adoption of ‘work-from-home’ practices.
● The rising trend of internet usage in households had resulted in the higher internet consumption. The need to subscribe for better internet packages with faster speeds and provision offered by service providers to adhere to add-on facilities such as IPTV services at minimal prices had further offered an impetus to the industry growth during the pandemic.
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