Broadcasting & Cable TV Market Size, Share & Trends Analysis Report By Technology (Cable TV, Satellite TV, IPTV, DTT), By Revenue Channel, By Region, And Segment Forecasts, 2023 - 2030
Broadcasting & Cable TV Market Growth & Trends
The global broadcasting and cable TV market size is anticipated to reach USD 448.34 billion by 2030 and is expected to expand at a CAGR of 3.9% from 2023 to 2030. The combination of Virtual Reality (VR) and Augmented Reality (AR) in broadcasting technology provides significant growth prospects to the market.
AR and VR technology empowers users to experience an enhanced quality of content through computer-generated infographics.The incorporation of this technology in broadcasting technology permits content creators to replicate scenarios and showcase content in a more visually appealing and interactive manner.
The production of such eye-pleasing content offers many opportunities for higher profits and is cost-effective as compared to the other types of content.
The introduction of the 5G delivery system provides substantial growth prospects to the broadcasting and cable TV industry. The development of the market 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 an enhanced viewing experience. Additionally, the implementation of 5G technology has enabled service providers to explore less accessible areas and infiltrate geographically challenging locations. Application of 5G has also enabled service providers to utilize the full range of HPHT (High Power High Tower) applications in downlink mode, the development has enabled broadcasters and cable TV operators to smoothly deliver content to consumers.
Furthermore, the extensive adoption of multi-access edge computing technology is anticipated to provide additional growth prospects to the broadcasting and cable TV industry.The implementation of multi-access edge computing technology is projected to encourage service providers to install components that are specifically designed to provide ultra-low latency and eliminates issues.
These issues include challenges such as low picture quality and buffering, and their elimination helps provide ultra-HD content to audiences.
Moreover, multi-access edge computing enables higher efficiency for the latest technologies including VR and 8K, which further provides a boost to the market growth. The multi-access edge computing technology also delivers improved access to computing powers that plays a vital role in analyzing viewing trends of people and helps companies to offer high-quality, and customized content.
Cloud technology is anticipated to offer substantial growth prospects to the broadcasting and cable TV industry owing to its ability to use a secure approach to save a remarkable amount of data.The provision to digitalize the complete broadcast operations and the capability to reduce physical requirements, such as relays, hardware servers for the storage of pre-recorded content, and transmitters are noteworthy.
This provides the operation with systematic resource management capability.
Moreover, the implementation of technology allows service providers to maintain broadcast signal quality while transmitting TV signals from play-out points to head-ends. Cloud technology also empowers service providers with the efficient rollout of channels, resulting in seamless business operations and better customer satisfaction.________________________________________
Broadcasting & Cable TV Market Report Highlights
• The IPTV sub-segment is anticipated to witness the fastest CAGR over the forecast period due to the accessibility of high-speed internet across the globe
• The subscription sub-segment is projected to showcase the highest CAGR from 2023 to 2030, owing to the growing demand for personalized viewing experiences amongst users, and the provision of bundled packages by market players to attract consumers
• The Asia Pacific region is estimated to rise as the fastest-growing region in the broadcasting and cable TV industry. The growth is attributed to the growing preference for satellite TV services coupled with accessibility to affordable internet