The global broadcasting & cable TV market size is anticipated to reach USD 397.69 billion by 2027, exhibiting a CAGR of 3.4% over the forecast period, according to a new report by Grand View Research, Inc. The fusion of Augmented Reality (AR) and Virtual Reality (VR) in broadcasting technology offers significant growth opportunities for the market. AR and VR technology enables users to experience superior viewing quality content via computer-generated infographics. The amalgamation of AR and VR in broadcasting technology allows content creators to simulate different scenarios and showcase information in a more interactive and visually appealing manner. The creation of such appealing content is comparatively cost-effective and offers better profit generation capabilities.
The advent of the 5G delivery system offers significant prospects for the broadcasting and cable TV industry. The growth can be attributed to high functionality in the delivery of IPTV services. 5G model is expected to facilitate the delivery of high-quality content to several users due to the availability of large bandwidth, thus mitigating network congestion and allowing enhanced viewing experience. Additionally, implementation of 5G technology is expected to enable service providers to penetrate in geographically challenging locations, which are less accessible as compared to satellite connections. Implementation of 5G also allows service providers to leverage the full range of High Power High Tower (HPHT) applications in downlink mode, which is expected to facilitate smoother delivery of content to its customers.
Wide-scale adoption of multi-access edge computing technology is expected to offer incremental growth prospects for the broadcasting industry. The use of this technology is expected to prompt service providers to deploy specifically designed components, which provide ultra-low latency and mitigates issues, such as buffering and low picture, to provide seamless, ultra HD content to viewers. Additionally, multi-access edge computing facilitates higher efficiency for technologies, such as 8K and VR, which further offers an impetus to the broadcasting and cable TV industry growth. The technology also provides enhanced access to computing powers that is essential in understanding viewing trends of people to offer high-quality content, which is custom made for customers.
Cloud technology is expected to offer significant growth prospects for the market due to its virtue of saving a tremendous amount of data in a secure approach. The provision to virtualize the entire broadcast operation and the ability to diminish physical requirements, such as hardware servers, to store pre-recorded content, relays, and transmitters, thus offering efficient resource management capability. Additionally, adoption of technology offers service providers to transmit TV signals from play-out points to head-ends while maintaining the quality of the broadcast signal. The technology also enables service providers to roll out channels more efficiently, which is expected to offer better customer satisfaction and continued business operations.
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Broadcasting & Cable TV Market Report Highlights
• Based on technology, the IPTV segment is expected to witness the fastest growth over the forecast period owing to availability of high-speed internet around the world
• By revenue channel, the subscription segment is expected to expand at the highest CAGR over the forecast period due to rising demand amongst users for personalized viewing experience and bundled packages as they offer various benefits
• Asia Pacific is expected to emerge as the fastest growing regional market in the years to come due to availability of the affordable internet and continual adoption of satellite TV services.For the purpose of this report
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Broadcasting & Cable TV Market Segmentation
Grand View Research has segmented the global broadcasting and cable TV market on the basis of technology, revenue channel, and region:
Broadcasting & Cable TV Technology Outlook (Revenue, USD Billion, 2016 – 2027)
• Cable TV
• Satellite TV
Broadcasting & Cable TV Revenue Channel Outlook (Revenue, USD Billion, 2016 – 2027)
Broadcasting & Cable TV Regional Outlook (Revenue, USD Billion, 2016 – 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
List of the key players in the broadcasting and cable TV market
• The Walt Disney Company
• Comcast Corporation
• DISH Network L.L.C.
• ViacomCBS Inc.
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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