IPTV Market Size, Share, Forecast, & Trends Analysis by Subscription Type (Paid Subscription, Freemium Subscription), Connection Type (Single Connection, Multi-connection), Streaming Device (Smart TVs, Laptops & PCs), End User (Individuals, Corporates), and Geography - Global Forecast to 2031

The IPTV Market was valued at $58.8 billion in 2023. This market is expected to reach $145.1 billion by 2031, at a CAGR of 12.4% during the forecast period 2024–2031.

IPTV Market Size & Forecast

The growth of the IPTV market is driven by the rising popularity of live streaming services, the increasing adoption of devices with streaming capabilities, such as smartphones, tablets, smart TVs, and laptops, and the growing demand for video content and personalized viewing experiences among consumers. Furthermore, the growth in cloud gaming and the increasing integration of IPTV with smart home technologies are expected to generate significant growth opportunities for the players operating in this market.

IPTV Market Growth Drivers

Rising Popularity of Live Streaming Services

Live streaming content, such as game streams and live concerts, is gaining popularity among viewers. Additionally, TV broadcasts, video game streams, and social media videos are also streamed live. High-speed internet enables the streaming of content in High Definition (HD) and Ultra-high Definition (UHD), providing an immersive experience. IPTV allows viewers to watch their favorite TV shows live from any location. Thus, the increasing demand for live streaming has led to a surge in the popularity of IPTV services.

The popularity of live-streaming content is rising due to changing viewer preferences, with many favoring one or more streaming services. According to Forbes Marketplace Holdings Limited (U.K.), by the end of 2024, 99% of households in the U.S. are expected to subscribe to one or more streaming services. Consumers are increasingly choosing live streaming services over traditional cable and satellite TV, driving the demand for internet-based television solutions. The growing access to live-streaming platforms and the rise of influential content creators support this trend, contributing to the market's growth.

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Growing Demand for Video Content and Personalized Viewing Experiences

The proliferation of smartphones, tablets, and other smart devices, and the increasing access to high-speed internet have boosted the demand for video content. Consumer preference for IPTV platforms offering a wide range of video content, including movies, television series, live events, sports, and news, has increased. The availability of diverse content and the convenience of accessing it through various devices are increasing the demand for Internet Protocol Television (IPTV).

Additionally, consumers prefer IPTV platforms with user-friendly interfaces and cross-device compatibility. The ability to access content on various devices, such as smart TVs, smartphones, and tablets, greatly enhances the viewer experience. Consumers are increasingly seeking flexible and personalized viewing options, encouraging IPTV providers to offer a broader range of on-demand content. Users are growing inclined toward IPTV platforms that cater to their individual preferences and provide personalized content recommendations, improving their overall streaming experience, which is expected to support the growth of the IPTV market during the forecast period.

IPTV Market Opportunities

Increasing Integration of IPTV with Smart Home Technologies

The adoption of smart home technologies is driving the growth of the IPTV market. IPTV is integrated with various smart home devices and technologies, such as voice assistants, smart TVs, and IoT devices, providing consumers with a seamless and immersive viewing experience. IPTV systems can connect to voice assistants such as Amazon Alexa, Google Assistant, or Apple’s Siri, with several companies collaborating to offer voice AI technology in IPTV services.

For instance, in May 2024, Kardome Technologies, LTD (Israel) partnered with KT Corporation (South Korea) to integrate its AI-based Spatial Hearing Technology solution into Genie TV, KT's IPTV service. This collaboration aimed to offer Genie TV users an advanced and smooth voice interaction experience.

Viewers can control their IPTV content with voice commands, enabling them to change channels, adjust the volume, or launch shows effortlessly. Many smart TVs come with pre-installed IPTV apps or services, allowing users to access content directly through their television without needing extra hardware. Additionally, IPTV systems are often connected with broader home automation platforms, such as smart hubs, enabling viewers to integrate TV controls and content selection into their automated routines or scenes. These factors, coupled with the growth in smart home projects, are expected to boost the adoption of IPTV services, generating growth opportunities for market players.

IPTV Market Trends

Integration of Augmented Reality (AR) and Virtual Reality (VR)

Emerging technologies such as Augmented Reality (AR) and Virtual Reality (VR) are being integrated with IPTV to enhance content display and track user movements and gestures. Augmented Reality (AR) merges digital information with the user's real-world environment in real time, enhancing visual and auditory elements. Several companies are launching AR products to improve the viewing experience.

For instance, in June 2023, Apple Inc. (U.S.) launched Apple Vision Pro, an AR/VR headset. The device uses eye contact and hand gestures for scrolling and application selection. It also includes a virtual keyboard and dictation feature for typing.

VR enhances content by incorporating physical activities, making the experience more immersive and realistic. When VR technology is integrated with IPTV platforms, users can explore their favorite shows, movies, and events in new, engaging ways. This integration improves the interaction between users and the content. With the growing availability of VR devices, users can enjoy immersive IPTV experiences both at home and on the go. This flexibility is generating opportunities for content creators and distributors to reach global audiences and engage viewers in innovative ways.

IPTV Market Analysis: Key Findings

By Subscription Type: The Free Subscription Segment to Dominate the IPTV Market in 2024

Based on subscription type, the IPTV market is segmented into free subscription, paid subscription, and freemium subscription. In 2024, the free subscription segment is expected to account for the largest share of over 47.0% of the IPTV market. The segment’s large share is attributed to the increasing adoption of video-on-demand platforms, the rising popularity of cost-effective IPTV subscriptions, and the higher costs of traditional TV subscriptions compared to IPTV. As cable TV costs continue to rise, many consumers are shifting toward free IPTV options. IPTV offers flexible and customizable viewing experiences, including access to live TV, sports, movies, and on-demand content. Additionally, IPTV provides various accessibility features, such as subtitles and audio descriptions, making it easier for users to enjoy their favorite content anytime and from anywhere.

However, the freemium subscription segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising popularity of freemium subscriptions due to their affordability. This subscription model provides limited access to premium features at no cost while charging a fee for more advanced features. Users can access the limited content available through the freemium subscription service without any charge.

By Connection Type: The Single Connection Segment to Dominate the IPTV Market in 2024

Based on connection type, the IPTV market is segmented into single connection and multi-connection. In 2024, the single connection segment is expected to account for the larger share of over 66.0% of the IPTV market. The segment’s large share is attributed to the increasing demand for customization and personalization features in IPTV services, the rising need for flexible viewing schedules, and the growing preference for single connections due to their higher affordability compared to multi-connections.

However, the multi-connection segment is projected to register the higher CAGR during the forecast period. This segment's growth is driven by the increasing need for simultaneous multi-streaming, the high demand for multi-device connectivity, and the growing need for flexible content viewing options. Multi-connection IPTV supports simultaneous streaming on several devices, allowing each user to select their preferred channels or content, which enhances the overall viewer experience.

By Streaming Device: The Smart TVs Segment to Dominate the IPTV Market in 2024

Based on streaming device, the IPTV market is segmented into smart TVs, smartphones & tablets, laptops & PCs, and other streaming devices. In 2024, the smart TVs segment is expected to account for the largest share of over 59.0% of the IPTV market. The segment’s large share is attributed to the rising sales of smart TVs, the increasing adoption of smart TVs with built-in internet connectivity for accessing IPTV services, and the expanding base of smart TV users. There is also a growing demand for user-friendly interfaces and large-screen experiences. Smart TVs with integrated internet connectivity either come with pre-installed IPTV apps or allow users to download them, enabling direct access to IPTV services without the need for additional devices such as set-top boxes or dongles.

However, the smartphones & tablets segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by the increasing internet penetration, rising smartphone and tablet sales, and the growing demand for high-quality content accessible on the go.

By End User: The Individuals Segment to Dominate the IPTV Market in 2024

Based on end user, the IPTV market is segmented into individuals, hospitality & leisure, corporates, education, transport, manufacturing, healthcare, and other end users. In 2024, the individuals segment is expected to account for the largest share of over 26.0% of the IPTV market. The segment’s large share is attributed to the increasing need for multi-device access and connectivity, the increasing viewership for on-demand video content, and the rising popularity of live-streaming platforms. Furthermore, interactive features such as program recording, pause & play functionality, smooth streaming, and flexible scheduling contribute to the growth of this segment. IPTV offers users the ability to view their favorite shows and content from any device, at any time, and from any location, providing enhanced scheduling flexibility. It also allows users to record content they may miss while live, ensuring that they can enjoy their preferred shows and movies at their convenience.

However, the hospitality & leisure segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by several factors, including the seamless integration of IPTV with existing hotel systems, including smart TVs, third-party applications, and various devices, thereby reducing costs associated with the implementation of additional cables and hardware. IPTV provides an immersive viewing experience for guests by delivering high-quality, personalized content such as live TV, on-demand movies, and TV shows. Guests can customize their viewing experience by selecting languages, subtitles, and audio settings as per their preferences.

Furthermore, IPTV provides extra services such as weather forecasts, news updates, and local event information. Several companies in this market are offering diverse solutions for the hospitality industry. For instance, in August 2023, Nevron E-Resitve doo (Slovenia) launched a dedicated multi-tenant solution to deliver IPTV, OTT, and other digital services to hospitality clients. The multi-tenant hospitality solution is designed to help IPTV service operators enhance their services for the hospitality industry.

Geographic Analysis

Asia-Pacific to Dominate the IPTV Market in 2024

In 2024, Asia-Pacific is expected to account for the largest share of over 38.0% of the IPTV market. APAC’s large share can be attributed to the expanding availability of live streaming services, the increasing penetration of high-speed internet, the rising sales of internet-enabled devices, the growing demand for digital entertainment services, and the rising population in the region. Additionally, market players in the region are collaborating to offer advanced IPTV services.

For example, in January 2023, RailTel Corporation of India Limited (India) partnered with City Online Media Pvt Ltd (India) to introduce IPTV services for subscribers of its retail broadband service, ‘RailWire.’

Moreover, Asia-Pacific is also projected to register the highest CAGR of 13.5% during the forecast period.

IPTV Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the key players’ product portfolios, geographic presence, and growth strategies adopted over the past three to four years. The key players operating in the IPTV market include KING IPTV (Iceland), IPTVtune.com (U.K.), TrendyScreen (U.S.), TiVistation (U.S.), Fubo IPTV (U.S.), OTTOcean (U.K.), SSTV IPTV (U.K.), Xtreme HD IPTV.ORG (U.S.), CatchON TV (Romania), Kemo IPTV (U.S.), NOMAD IPTV (U.S.), Beast TV (U.S.), Nikon IPTV (U.S.), Xstream7 (U.K.), and Euro IPTV (France).

IPTV Industry Overview: Latest Developments from Key Industry Players

• In March 2023, Bharat Sanchar Nigam Limited (BSNL), E2 Info Solutions, and PAN INDIA SERVICE launched Internet Protocol Television (IPTV) services for customers in Tamil Nadu.
• In March 2024, VDA GROUP SPA (Italy) partnered with Nonius (Portugal) to provide IPTV solutions to the hospitality sector. The partnership aimed to enhance the delivery of interactive TV and casting in the hospitality sector.
• In May 2024, Enghouse Systems Limited (Canada) acquired SeaChange International, Inc. (U.S.) to provide IPTV products and services.
• In January 2024, Visionary Solutions, Inc. (U.S.) acquired Azure Development Solutions Limited (NetworkTV) (U.K.) to enhance Visionary’s capabilities in the IPTV market, expand its AV-over-IP sales channels, and establish European headquarters simultaneously.

IPTV Market Research Summary

Key questions answered in the IPTV market report: