The IPTV market is expected to grow by USD 3.17 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 20.04% during the forecast period, according to Technavio. The rise in mobile and smart device adoption is notably driving the IPTV market. However, factors such as Piracy and illegal streaming of content may impede market growth. The market is segmented by component (hardware, software, and services) and type (wired and wireless). We provide a detailed analysis of 20 companies operating in the IPTV market, including Cablehdtvs.com, KT Corp., LG Uplus Corp., Onnetsystems Korea Inc., and SK Telecom Co. Ltd.
IPTV Market 2023-2027: Company Analysis
Cablehdtvs.com – The company offers internet protocol television solutions such as a Korean IPTV box with 100 plus live streaming Korean channels, unlimited sports channels, cartoon or kids dramas, and Video On Demand or VOD Movies.
The rise in mobile and smart device adoption is a key factor driving market growth. Smartphones, tablets, and smart TVs are gaining in popularity with the increasing demand by users to be able to watch their favorite TV series, movies, or other entertainment content on them. IPTV services are thus increasingly desired because they make it possible for users to watch live television, as well as several other features on their mobile or smart device, thereby enabling them to meet the ever-increasing demands. In addition, many multiscreen IPTVs allow subscribers to access content on multiple devices at the same time, enabling them to watch live television on a smart TV, while watching a movie on a tablet or a mobile phone. Hence, these factors are expected to drive market growth during the forecast period.
- The hardware segment is estimated to witness significant growth during the forecast period. Physical components necessary for the delivery of services including set-top boxes, IPTV radios, routers, switches, and related network equipment are part of the hardware segment. Settop boxes are a crucial component of this category because they enable customers to access IPTV services on their television sets. This element will normally be coupled to a broadband modem or router used for decoding and displaying IPTV channels on the TV screen. Furthermore, the growth of this segment will be strongly driven by factors like the growing demand for home theater systems and a desire to enjoy high-quality videos and audio. Hence, these factors are expected to drive market growth during the forecast period.