Growth in the demand for high quality audio-video content as well as the emergence of new technologies such as internet of tings or IoT and over the top or OTT services are expected to fuel the demand in the global television broadcasting services market in the next few years. These new technologies can help in easily providing high definition video content to consumers as they require. Furthermore, rising requirement of various enterprises to reach out to larger base of customers and attract new potential audiences is also expected to aid in the expansion of the global television broadcasting services market in coming years. Similarly, increase in the global consumption of digital content is also favoring the growth in the global television broadcasting services market.
Other essential factors positively influencing the demand dynamics in the global television broadcasting services market include rise in the level of digitalization across the globe, rising experiments by players to enhance and innovate the existing broadcasting systems, and rising rate of transition to digital from analog. Furthermore, enterprise focus on advertisement as a promising source for revenue is also favoring the development of the global television broadcasting services market. Similarly, efforts by key vendors in the global television broadcasting services market to establish a facility in which the on-demand videos can be played as well as constant technical and creative advancements in the media and broadcast industry are also favorable for the growth of the industry.
On the other hand, stringent government regulations and guidelines pertaining to the broadcasting of content may hinder the growth trajectory of the global television broadcasting services market in coming years. However, rising adoption of various technologically advanced solutions in several developed as well as developing economies and massive number of well-established international players is expected to favor the development in the global television broadcasting services market in the next few years. During the COVID-19 pandemic, there was a significant increase in the number of viewership for television in order to consume new video content in the comfort of the home. This aided the growth in global television broadcasting services market.
Television Broadcasting Services Market – Snapshot
Television broadcasting is a type of broadcasting in which a TV signal is transferred by radio waves from anearthbound transmitter of a TV station to televisionviewers. The TV industry has seen a noteworthyrevolution with the advent of digital broadcasting and the Internet. With the strong penetration of Internet anddeveloping digital ecosystemsaround the globe, online television broadcasting has been expanded in the past decade. However, traditional pay television still dominates the television broadcasting services market.
Cable TV broadcasting is expected to dominate throughout the forecast period. Cabletelevision broadcasting services growth is mainly supported by the older generation who spend considerable time watchingtraditional television. Majority of North Americans are still using cable TV because their pay TV subscription is bundled with their internet subscription. Apart from this, they prefer pay TV service to watch live broadcasts. In addition, cable television broadcasting services service providers are planning to provide video-on demand (VoD) services in order to maintain their position in the global market.
The global television broadcasting services market is witnessing strong growth owing to factors such as increasing demand for high definition (HD) content and advertisement as a growing source of revenue. At present, OTT services and production studios have huge demand from consumers and therefore broadcasters are highly focused on creating large volumes of higher-quality content. Traditional broadcasting medium provided low quality data; however, with technological advancements and advent of new technologies and streaming media devices, IoT has made availabilityof high quality content feasible. Therefore,continuous advancements in broadcast and media industry is also a major factor expected to create new opportunities for the television broadcasting services market.Apart from this, growing transition from analog to digital transmissionisalso a significant factor fueling the growth of the television broadcasting services market across the world. The global television broadcasting services market is anticipated to expand at a CAGR of 6.9% during the forecast period 2018 to 2026 and was valued atUS$ 418.1 Bnin 2017.
Government bodies of different nations have different broadcasting and content regulations. Therefore, television broadcasters must comply with legal requirements. Thus, strict and intangible rules of different economies are anticipated to limit the reach of television and it could hamper the market growth during the forecast period.
The adoption rate of Internet services such as IPTV and OTT in developed nations such as Europe and North America is estimated to increase substantially in the next few years. Thus, most television broadcasting service providers are highly concentrating on providing on-demand solutions for next-generation HD television and IPTV services. Apart from this, broadcast experts are unceasinglyproviding cloud-based solutions for managementand production while in delivery, broadcasting service providers are migrating to the large web-scale cloud vendors.Cloud based services offer agile, flexible, scalable, and reliable distribution to meet consumer demands, such as the explosion of devices, or hike in popularity during live events.Companies are focusing on offering technologically advanced and scalable solutions. For instance, in December 2017, Amagi launched a cloud based TV delivery platform in the U.S. It has changed the way broadcasters deliver the content. Charter Communications, which recently acquired Time Warner Cable also providesa cloud platform for content delivery.Sling TV is already involved in offering cable like service in the cloud for around US$20 per month.
The global television broadcasting services market includes different players such as A&E Television Networks, LLC, AT & T, Inc., British Broadcasting Corporation, CANAL+ GROUP, CBS Interactive, Channel Four Television Corporation, CenturyLink, Inc., 21st Century Fox, Comcast Corporation, Canadian Broadcasting Corporation, Heartland Media, LLC, RTL Group, Time Warner, Inc., Tivo Corporation, and Viacom International, Inc. IPS News