Digital TV market to expand at a CAGR of 14% by 2032 to value USD 212.4 billion
Research Reports
Sep 26, 2023
Digital TV Market Insights
The size of the digital TV market was estimated at USD 65.3 billion in 2022. It is anticipated that the size of the global digital television market will increase from USD 74.4 billion in 2023 to USD 212.4 billion by 2032, with a compound annual growth rate (CAGR) of 14.000% over the forecast period (2023-2032). The primary market drivers accelerating market expansion are the declining cost of technological gadgets like digital TV and antennas as well as the rising disposable income.
Due to rising consumer demand for material with improved picture quality, the market may have room to grow. One of the key factors influencing market expansion is the availability of high-quality content from diverse service providers on a single platform at affordable prices.
Additionally, in order to meet users’ demands and needs, pay TV service providers now offer a variety of value-added services, including bundled packages, internet access, discounted subscription rates, and flexible channel subscriptions, giving them additional ways to make money.
Service providers are utilising integrated broadband broadcasting (IBB) technologies in an effort to diversify their offering of services and increase market penetration. Combining broadcast and broadband technology has the potential to make it possible to offer mass material efficiently while still providing individualised service.
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The broadcasters are now able to offer channels with greater picture quality since they have realised the potential of UHDTV services. The rise in HD-capable flat panel display-equipped households is what’s driving the increase in demand.
Given that the expenditures made by pay TV providers in production lines and R&D are now sunk costs and the declining price levels, customers seem forced to adopt UHDTV services.
Key Companies in the Digital TV market include
- Samsung Group
- Metz
- Koninklijke Philips N.V.
- Hisense Corporation Ltd.
- AT&T Inc.
- Sony Corporation
- Changhong
- LG Corporation
- Loewe
- DISH Network
- Verizon FiOS
- Funai
- TCL
- Vestel
- Roku
- Vizio Incorporation
- Skyworth
- Konka
Segmentation
Resolution-based market segmentation for digital TV comprises 720p, 480p, and 1080p. In 2022, the 1080p segment dominated the market. The prevalence of high-resolution digital TVs is to blame for this.
The Type-based segmentation of the digital television industry includes HDTV, EDTV, SDTV, and Others. In 2022, the HDTV segment led the digital TV market. The increased interest in HDTV is to blame for this.
According to size, the digital TV market is divided into four categories: 32″-42″, 11″-32″, 42″-50″, and 50″ and Above. In 2022, the 42″-50″ segment dominated the market.
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The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was dominated by the North American digital TV market (45.80%). The quick development of OTT platforms and internet-enabled media is to blame for this. Service providers are under pressure to shift their service offerings to online content distribution in order to expand their client base as a result of the significant spike in cord-cutting cases. The use of cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) to painstakingly study users’ viewing behaviours and deliver customised suggestions may further encourage viewers to switch to OTT platforms. The U.S. digital TV market had the biggest market share, and the fastest-growing market was in Canada.
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