IPTV overtook DTH as the second-largest multichannel platform in the world by subscribers after cable TV in 2018, according to S&P global market intelligence research outfit Kagan. IPTV grew by 14.3 percent year-on-year, making the fastest growth of the three major distribution platforms. It accounted for 23.4 percent of the total market of 1.07 billion households at the end of the year, with expected CAGR of 7 percent over the next five years, second only to pay digital terrestrial television with a projected 8.5 percent five year CAGR. While cable TV is expected to remain the largest multichannel platform globally in the next five years, its subscriber total is expected to decline at 0.3 percent CAGR by 2023, largely due to migration to IPTV in APAC and Western Europe.
The global multichannel market grew by 3.1 percent year-over-year in 2018. China, India, and the US remain the largest multichannel markets, collectively claiming 57 percent of the global subscriber total in 2018. China and India alone are expected to account for 50 percent of the global market by 2023. The number of multichannel subscribers worldwide is modeled to grow at a 2.4 percent CAGR over the next five years to reach 1.21 billion. Multichannel penetration breached 60 percent by 2018 year-end and is expected to increase to 61.2 percent over the next five years. The global multichannel household growth will continue to decelerate with most markets across Europe, North America, and advanced multichannel markets in Asia reaching saturation.