Television Services Market: Analysis of Industry Opportunities and Forecast, 2021-2027
POTLAND, 5933 NE WIN SIVERS DRIVE, # 205, OR 97220, UNITED STATES, September 21, 2021 /EINPresswire.com/ – According to a new report released by Allied Market Research, titled “Television services market By Delivery Platform, Revenue Model and Broadcaster Type: Analysis of Industry Opportunities and Forecast, 2021-2027 ‘, the global television services market size is expected to reach $ 499.8 million by 2027 at a CAGR of 5.4% from 2021 to 2027.
Television services refer to a system for converting visual images (with sound) into electrical signals, transmitting them by radio or other means, and displaying them electronically on a screen. The global television industry is undergoing a digital revolution. Online video allows consumers to watch video content as they choose. Netflix and Amazon are notable examples, which reflect the growing popularity of digital media with viewers. These giants operating in the TV broadcasting industry offer over-the-top TV (OTT) services, in which popular OTT applications are embedded.
Rising disposable income and increasing entertainment spending are driving the growth of the global television services market. Furthermore, technological advancements in broadcast services such as the transition from cable TV to digital broadcasting are contributing significantly to the growth of the global market. Internet protocol television strongly influenced the growth of the television services market during the forecast period. The increase in the display size of the TV and the integration of smart features in TVs make customers buy smart TV with TV services. Smart features include a large touchscreen, HD displays, and powerful internet connectivity.
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However, the increase in alternative means of entertainment through various devices such as smartphones, desktops and laptops and increase in their popularity is expected to hamper the growth in the size of the TV services market over the course of the decade. forecast period. In addition, increasing cyber threats, lack of cloud readiness, and poor connectivity in rural areas are hampering the growth of the TV services market.
According to the analysis of the television services market, the product market is segmented into delivery platform, revenue model, broadcaster type and region. By delivery platform, it is categorized into digital terrestrial broadcasting, satellite broadcasting, cable broadcasting, internet protocol television (IPTV) and satellite television (OTT). Depending on the revenue model, it is fragmented into subscription and advertising. On the basis of the type of broadcaster, it is differentiated into public and commercial. By region, it is analyzed in North America (United States, Canada and Mexico), in Europe (Germany, United Kingdom, France, Russia, Italy, Spain and the rest of Europe), in Asia-Pacific (China , India, Japan, Australia, South Korea and the rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
Based on the delivery platform, the cable TV segment was valued at $ 111,500 million in 2019 and is expected to reach $ 138,500 million by 2027, registering a 2.8% CAGR of 2021 to 2027. This is attributed to the fact that cable television broadcasting is now seen as a provision of video services as part of a comprehensive service offering, including other truly integrated services, ranging from video services to video services. demand (VOD), Internet access services, cloud storage and application services and Internet of Things (IoT) services, such as home smart meters. Additionally, cable television has gained popularity due to its transformation into digital cable television.
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According to TV service market trends, based on the revenue model, the subscription segment was valued at $ 191,700 million in 2019 and is expected to reach $ 276,600 million by 2027, registering a CAGR of 4 , 8% from 2021 to 2027. This is attributed to the fact that subscription pricing attracts more customers, enables greater customer retention, facilitates distribution, offers a wide range of marketing, maintains business consistency and facilitates cash flow management. In addition, the increasing adoption of the subscription revenue model in developing countries and countries with high population density, especially China and India, where the subscription base is increasing with the growing number of TV homes, contributes significantly to the growth of the global market.
Based on broadcaster type, the public broadcasting segment is expected to reach $ 159,800 million by 2027, at a CAGR of 5.1%. Public broadcasting refers to broadcasting services which mean broadcasting content for the public good and for non-commercial purposes. It is funded by the government, where various public related policies such as government programs and public awareness information are supposed to be disseminated. For example, the Indian government launched a television classrooms program on regional television stations, during the lockdown period, as schools are temporarily closed to stop the spread of the coronavirus. The TV classrooms are broadcast on public channels, including regional channels and Doordarshan (DD channel), which has generated significant resonance with Indian TV households.
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Players operating in the television service industry have adopted product launch and business expansion as key development strategies to expand their market share, increase profitability, and remain competitive in the market. Major players featured in this report include CANAL + GROUP, Time Warner, Inc., Viacom