IPTV is gaining popularity for secure, reliable delivery of programs and other services like recording and data transfer among others. IPTV market was valued at around 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.
The IPTV market is dominated by Europe with over 38 percent share of the total market. Europe is followed by Asia-Pacific and North America respectively owing to the increasing broadband penetration and decreasing prices of IPTV subscription in the region. However, Latin America and Middle-East & Africa are also expected to exhibit significant growth according to Zion Research.
IPTV market is mainly driven by increasing demand for high-definition (HD) channels and video-on-demand (VOD). Another important factor that propels the market growth is the 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 the product decreases.