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Pay TV market to witness comprehensive growth by 2028

The global pay TV market size is expected to witness considerable growth, owing to the increase in subscription numbers and the launch of new channels. The global pay TV market is projected to witness decent growth across the globe. Allied Market Research, titled, “Pay TV Market By Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028”, the global pay TV market size was valued at $182.32 billion in 2020, and is projected to reach $203.13 billion by 2028, registering a CAGR of 1.5% during 2021 to 2028.

Pay TV is a subscription-based TV service provided by multichannel television providers. The major types of pay TV include cable TV, satellite TV, and IPTV. Cable TV is widely used by consumers in residential and commercial applications. Satellite TV is a broadcasting TV. It is a wireless service to delivers television programming directly to the viewer’s house. IPTV refers to Internet Protocol Television where the Internet is used to deliver TV programs to the viewer’s location. Pay TV offers programs such as movies, sports events, news channels, and educational programs.

Factors such as the increasing number of subscriptions, the launch of new television channels, and innovative features in pay TV drive the pay TV market growth. Recent innovations such as high-definition equipment have enabled pay TV to reach a wider audience base. In addition, an increase in demand for subscription-based channels and the high penetration of IPTV in developed countries are expected to drive market growth. Further, the reduction in the subscription charges and the technologically advanced equipment for pay TV are estimated to contribute towards the growth of the pay TV market share.

Competitive Analysis
The Pay TV industry’s key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major keys players in India include:

  • Foxtel
  • Dish tv india limited
  • Directv
  • Xfinity (comcast corporation)
  • Dish network corporation
  • Charter communications (spectrum)
  • Rostelecom
  • Tata sky
  • Airtel digital tv
  • Fetch tv

The market players such as DirecTV, Charter Communications, and Tata Sky are focusing their investments on technologically advanced products. For instance, AT&T’s DirecTV has launched its new internet TV and it’ll come over the internet rather than a satellite dish. AT&T has been testing the service in 13 markets and is now making it available to anyone. Charter Communications (Spectrum) added Chromecast compatibility to the Spectrum TV app, to allow its subscribers with even more options for viewing live and on-demand content. Also, Tata Sky has launched a new Android-powered set-top box called Tata Sky Binge+ in India that offers a seamless experience of watching TV channels and entertainment apps on one screen.

Covid 19 Impact Analysis
COVID-19 has impacted severely the global electronics and semiconductor sector, due to which production facilities as well as new projects have stalled, which has increased the demand in the industries. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; Moreover, the increase in demand for the pay TV in the COVID-19 situation has contributed toward the growth of the pay TV market trends in 2020. EIN Presswire

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