IPTV market is mainly driven by increasing demand of HD channels and video-on-demand. In addition, initiatives taken by the government to increase broadband penetration help to grow the market â€¨size. Global IPTV market was valued at around â€¨USD 34.67 billion in 2015 and is expected to reach USD 93.59 billion in 2021, growing at a CAGR of around 18.01 percent between 2016 and 2021.
Another important factor that propels the market growth is decreasing cost of IPTV services. Entry of new startups in this market is projected to intensify the competition, due to which the number of services provided by competitors increases and cost of product decreases. An initiative taken by government to increase broadband penetration is expected to grow the market in the years to come.
The IPTV market is segmented on the basis of different applications such as advertising and marketing, media and entertainment, gaming, e-commerce, healthcare and medical, telecommunication and IT, and others. Media and entertainment and gaming application segments together acquired major share of the total market due to decreasing prices of IPTV subscription globally.