IPTV market to hit US$79 billion by 2020

The value of the global IPTV market is set to reach US$79.38 billion (€73 billion) by 2020, up from just US$24.94 billion in 2013, according to Transparency Market Research.

The research firm’s new report, titled ‘IPTV Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’ predicts that the IPTV market will grow at a compound annual growth rate (CAGR) of 18.1% from 2014 to 2020.

The study says that Europe dominated the worldwide IPTV market in 2013, with Western Europe generating a 38% share of revenue in that year. However, it claims that over the course of the forecast period, Asia Pacific is tipped to be “the fastest growing regional market for IPTV services.”

Asia Pacific excluding Japan is expected to register a 21.1% CAGR from 2014 to 2020, with Indonesia, India, South Korea, and China all tipped to be key contributors during this period.