A new report published by Allied Market Research says the global television services market size is expected to reach $499, 800 million by 2027 at a CAGR of 5.4 per cent from 2021 to 2027.

Rise in adoption of subscription based revenue models in developing countries and high populated countries, including China and India, where subscription base increases with growing number of TV households, significantly contributes toward the growth of the global market.

The television services market analysis, according to a report in KSU: The Sentinel Newspaper, states the product market is segmented into delivery platform, revenue model, broadcaster type, and region. By delivery platform, it is categorized into digital terrestrial broadcast, satellite broadcast, cable television broadcasting, Internet protocol television (IPTV), and over-the-top television (OTT).

Depending on the revenue model, it is fragmented into subscription and advertisement.

On the basis of broadcaster type, it is differentiated into public and commercial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The report is titled, “Television Services Market by Delivery Platform, Revenue Model, and Broadcaster Type: Opportunity Analysis and Industry Forecast, 2021–2027”.

The report adds that the global television industry is in the midst of a digital revolution. Online video has been empowering consumers to watch video content as per their choice. Netflix and Amazon are non-negligible examples, which reflect how digital media is gaining popularity among the TV audience.

Technological advancements in television broadcasting services such as transition of cable television to digital broadcasting significantly contribute toward the growth of the global market.

However, increase in alternative means of entertainment through various devices such as smartphones, desktops, and laptops and increase in their popularity are expected to hamper the growth of the television services market size during the forecast period.

On the basis of delivery platform, the cable television broadcasting segment was valued at $111,500 million in 2019, and is projected to reach $138,500 million by 2027, registering a CAGR of 2.8 per cent from 2021 to 2027.

This is attributed to the fact that cable television broadcasting is now viewed as video service delivery that is part of a comprehensive service offering, comprising other truly integrated services, ranging from video on demand (VOD) services, internet access services, cloud storage & application services, and Internet of Things (IoT) services, such as smart metering at home.

Cable TV has been gaining considerable popularity, owing to its transformation into digital cable TV.

According to television services market trends, on the basis of revenue model, the subscription segment was valued at $191,700 million in 2019, and is expected to reach $ 276,600 million by 2027, registering a CAGR of 4.8 per cent from 2021 to 2027.

This is attributed to the fact that subscription-based pricing attracts more customers, provides higher customer retention, eases distribution, offers large scope for marketing, maintains business consistency, and smoothens cash flow management.

On the basis of broadcaster type, the public broadcasting segment is estimated to reach $159,800 million by 2027, at a CAGR of 5.1 per cent.