SAN FRANCISCO—Despite cord cutting and the rapid growth of streaming video services, the global pay TV market size is expected to see slight 1.7% a year growth between now and 2028, when the global pay TV market will hit $265.44 billion by 2028, according to a new report by Grand View Research.
The fastest growth will occur in the IPTV segment, with a CAGR of more than 8%, thanks to the spread of 5G technologies, followed by the satellite TV segment.
The Asia Pacific region is expected to emerge as the fastest-growing regional market due to comparatively lower internet rates and tech upgrades, the "Pay TV Market Size, Share & Trends Analysis Report" by Grand View Research noted.
The researchers note that “rising competition from OTT media providers is promoting pay TV operators to disrupt existing business models and strategize more efficient profit generation methodologies. Additionally, emerging players, such as MOBITV, offer customized, cost-effective, and flexible options to their customers according to their demands, thus ensuring customer satisfaction. This is expected to promote new and existing players to diversify their existing service offerings and ensure healthy competition in the market.”
