Transparency Market Research’s IPTV market forecast said that the market is due to grow steadily from a value of USD$24.94 billion in 2013, when Western Europe was the largest revenue contributor accounting for almost 38% of global revenues.
Looking ahead, the ‘IPTV Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’ report tips Asia Pacific to be the fastest growing market for IPTV during the forecast period.
“[The] IPTV market for Asia Pacific excluding Japan is estimated to grow at a CAGR of 21.1% from 2014 to 2020. China, India, South Korea and Indonesia are expected to be the major contributors to the market in the near future,” said Transparency.
The research said the “hefty growth” expected in the IPTV market will be driven by video-on-demand services, interactive services, multi-view on multi-screens offered by telcos along with pure-play IPTV services.