Global Pay TV Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Pay TV is a subscription-based television service provided by cable, satellite, or phone companies. The company offers both residential and commercial television content. Pay television is often known as premium or subscription television. The programming available on pay television includes movies, sporting events, news channels, and others. In recent years, pay television technology has significantly evolved. Pay TV, also called subscription television, is a mechanism wherein encrypted television broadcasts are transmitted to those who have paid. Local and exclusive material is accessible via pay television. Pay TV equipment suppliers are presenting use cases that increase workplace performance, productivity, and compliance, which is expected to be profitable once the technology matures.
Market Dynamics
Rise in Subscribers and Lower Subscription Cost to Drive the Global
Pay TV
Market
The pay-TV market is experiencing increased demand due to developing trends and technological advancements like IPTV. The pay-TV market is driven by the growing technological advances in television, such as data analytics, to obtain insights into consumer preferences. As a result, people now want high-quality devices. Due to the continual shift to digital television, the advent of High-Definition picture format, internet usage, and rising subscription fees, the demand for pay television is increasing. NDS, a notable provider of digital
pay TV solutions
and conditional access solutions, recently announced the acquisition of Israel's Jungo, which will surely increase the number of subscribers.
The inexpensive availability of value-added services and 5G internet connectivity, as well as the fact that pay-TV broadcasting is dependent on user subscriptions and preferences, are further factors that are anticipated to grow the pay-TV market. In addition, these characteristics considerably lower the cost of broadcasting on pay television. In 2019, the Telecom Regulatory Authority (TRAI) imposed a rate cap on both individual channels and channel packages to cut the cost of television subscriptions for consumers. Additionally, the sector is being aided by the expanding usage of online streaming services.
Growing OTT Platforms to Create Global
Pay TV
Market Opportunities
Increasing data connectivity and fast Internet are two of the most significant elements. As internet usage increases globally, a new opportunity has emerged for the pay television industry. Due to OTT services like Amazon Prime and Netflix, the IPTV industry has seen a spike in revenue. OTT platforms are currently highly favored for their wireless network and content, contributing to the pay-TV market's growth. The increasing need for tailored content has had a significant impact on the development of the pay-TV business, which has resulted in a dramatic surge in the adoption rates of OTT platforms. Several OTT services compete directly with traditional TV services, such as cable, by providing more content at lower pricing.
Regional Insights
North America is forecasted to command the regional market while expanding at a CAGR of 1.53%. Because of the rise of OTT platforms, the region is increasing steadily. Due to the availability of cutting-edge technology and large companies operating in the field, North America today holds a prominent place in the global
pay TV
business. Because Americans are the quickest consumers of new technology in the world, the market for consumer electronics can expand. Pay television is a part of the growing media and entertainment industry in the United States. Historically, television has been the most popular source of home entertainment. This region continues to have some of the world's highest penetration rates for pay television.
Even though the regional market has a larger revenue share, it is declining due to the rapid adoption of internet-enabled mediums and the emergence of OTT platforms. Service providers are under pressure to alter their business models to capture a larger share of the market's potential customers due to the sharp increase in the number of people canceling their cable television subscriptions. The use of cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) to extensively investigate the viewing patterns of users and deliver personalized suggestions is another element that is luring viewers to over-the-top (OTT) platforms. In addition, over time, the profit margins of service providers who supply bundled products have decreased. As a result, they ceased employing these commercial tactics, which has hampered the development of the sector as a whole.
The Asia Pacific will hold a revenue share of USD 54 million, growing at a CAGR of 2.83%. Increased internet users and the demand for online programming on pay television have aided the expansion of government investments and initiatives in developing economies. Several Asia-Pacific economies are highly adept at adopting new technologies, particularly in the television and mobile phone industries. It is projected that this region will become the regional market with the highest growth rate due to relatively lower internet rates and regular content updates, both of which facilitate client accessibility. China has the largest market for pay television in all of Asia. IPTV is gaining momentum, cable has retained its leading position in the nation's pay-TV industry, and high-definition television services are believed to be advancing. These are the key contributors to this region's growth of pay television. In 2017, China Mobile gave its premium customers free access to its
pay TV
service for the first two years of a new contract. Until the end of the year, this deal was still available.
The availability of inexpensive internet connections with speeds of more than 40 Mbps from cable operators is the key factor fueling the growth of pay television in Japan. Numerous makers of internet-capable televisions are increasing the market for pay television. The
Pay TV
market in Japan is driven mainly by smartphones and tablets spectacular growth. In addition, the expansion of pay television into rural households in countries such as China, India, and Indonesia has benefited the industry. In addition, new initiatives by federal organizations, such as the Telecom Regulatory Authority of India (TRAI) in India, enable users to select and pay for channels based on their preferences, thereby facilitating the widespread adoption of
pay TV
services in the country and fostering regional development.
Key Highlights

The global
pay TV
market had a revenue holding of USD 183 million in 2021. It is expected to reach USD 210 million by 2030, growing at a CAGR of 1.53% during the forecast period (2022-2030).
Based on the type, the cable TV section is predicted to have the highest shareholding, growing at a CAGR of 0.1%.
Based on the application, the residential section will be the largest revenue holder growing at a CAGR of 1.8%.
Based on regional analysis, North America is forecasted to command the regional market while expanding at a CAGR of 1.53%.

Competitive Players in the Market

Airtel Digital TV
DirecTV
DISH Network Corporation
Dish TV India Limited
Foxtel
Rostelecom
Charter Communications
Tata Sky
Xfinity

Market News

In 2022,
Amazon and DIRECTV agreed to a multi-year partnership to offer Prime Video's exclusive Thursday Night Football roster to NFL fans at over 300,000 sports bars, restaurants, hotel lounges, casinos and sports books, retail stores and services, and many more locations around the country.

Global
Pay TV
Market: Segmentation
By type

Cable TV
Satellite TV
IPTV

By application

Residential
Commercial

By region

North America
Europe
Asia Pacific
LAMEA

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