Global Television Broadcasting Services Market Revenue Projected Around USD 794.87 Billion By 2027 by Market Research Store

According to the report, the global demand for television broadcasting services market was valued at approximately USD 433.2 billion in 2018 and is expected to reach a value of around USD 794.87 billion by 2027, at a CAGR of around 7% between 2019 and 2027.

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TV or television broadcasting service is a type of service in which a television signal is transmitted through radio waves from earth-based transmitter of a TV station to receiver to the TV. The television sector has witnessed a remarkable surge due to the onset of digital broadcasting & the internet. High penetration of internet services along with rapidly expanding digital ecosystems has resulted in the expansion of digital television broadcasting in recent years.

Large-scale TV digitization to steer the market growth

Escalating digitization along with usage of digital content has transformed the content mode that is delivered to the end-users. Moreover, digitization is projected to alter content production and distribution. All these factors are expected to uplift the growth of the television broadcasting services industry over the forecast period. Apart from this, the breakthroughs in digitization will lead to the huge production of high content quality with interactive services & more information, thereby further proliferating the business growth.

Moreover, the integration of VR and AR with television will lucratively influence the growth of the market over the forecast timeline. In addition to this, shift to the consumer-driven broadcasting services from provider-driven broadcasting services will steer the growth of television broadcasting services industry over the forecast timeline.

Subscription-based segment to lead the service platform landscape

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The subscription-based segment is predicted to register the highest CAGR as well as accrue a large chunk of revenue worth nearly USD 518 billion by the end of the forecast period. The growth of the segment is due to massive benefits offered to the customers by the subscription-based segment. Apart from this, ad-free subscribed channels like HBO and Tata Sky offer high-quality entertainment to the audience and hence viewers are ready to pay even premium price & subscribe to these channels.

Commercial segment to record highest CAGR over the forecast timeline

Commercial segment, which is projected to contribute sizably towards the overall market revenue share by 2027, is also expected to register a CAGR of nearly 7.1% during the forecast period. The protruding growth of the segment is due to the broadcasting of commercials every ten minutes by the television stations. Apart from this, commercial television stations provide entertainment, talk shows, and short news summaries of the events of the day that have gained immense popularity among the audience across the globe.

North America to dominate the overall regional market share

The growth of the regional market is credited to escalating demand for the interactive content by customers in order to get seamless broadcast. In addition to this, growing focus on STBs with the expansion of the storage space for facilitating personal video recording will further boost the growth of the market in the North American region. Countries like the U.S. and Canada are predicted to make huge contributions towards the regional market revenue over the forecast timeline.

Some of the key players in the television broadcasting services market include 21st Century Fox, A&E Television Networks LLC, AT & T Inc., British Broadcasting Corporation, Canadian Broadcasting Corporation, CBS Interactive, CenturyLink Inc., Channel Four Television Corporation, Heartland Media LLC, Red Bee Media, RTL Group, SES S.A., Tata Communications Ltd., Tivo Corporation, and Viacom.

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This release was published on openPR.