The television broadcast services market is expected to be worth $755.7 billion by 2026 according to a new report from Transparency Market Research.
It predicts the market will expand at a CAGR of 6.9 per cent from 2018 to 2026.
The report says the major factors driving revenue include increasing demand for high definition content, as well as the emergence of quality standards and technological advancements in manufacturing of devices.
According to the report, the global market for television broadcasting services is segmented on the basis of delivery platform, broadcaster type, revenue model, and geographic regions. On the basis of delivery platform, the market is segmented into digital terrestrial broadcast, satellite broadcast, cable television broadcasting, internet protocol television (IPTV), and over-the-top television (OTT).
It says that in 2017, the cable television broadcasting services segment accounted for the largest market share in terms of revenue of the global television broadcasting services market. Additionally, demand for satellite television broadcasting service is also expected to gain major market share throughout the forecast period.
In terms of broadcaster type, the global television broadcasting services market is segmented into public and commercial. In 2017, the public broadcasting segment accounted for the largest share of the market and television broadcasting service providers are generating more revenue from the public sector. However, the commercial broadcasting services segment is estimated to expand at a substantial rate over the forecast period.
Furthermore, based on revenue model, the global television broadcasting services market is categorised into subscription and advertisement. Among them, the subscription segment is expected to grow at a significant rate. The growth of this segment is mainly driven by rising adoption of pay-TV subscription and on-demand television services, which is consequently expected to fuel the growth of the subscription market during the forecast period.
The report suggests North America is expected to hold its dominant position throughout the forecast period. However, Asia Pacific and Europe are also expected to contribute significant market share.