Telephones, which had earlier revolutionized the way communication took place, have now become obsolete due to continuous innovations and improvements in technology. To keep with up the evolving requirements of changing times, telecommunication companies are now shifting their focus toward video services from traditional broadband and telephone services. Internet protocol television has presented itself as a massive growth opportunity due to its interactive multimedia capabilities. Many telecom companies, such as Vodafone, Verizon, and British Telecom, are offering IPTV services to benefit from the opportunities that this niche is bustling with. This is providing companies with prospects to generate revenue beyond voice and data services.
A study conducted by P&S Intelligence stated that the IPTV would grow to $98,019.3 million at a 14.7% CAGR from $43,254.0 million in 2017. IPTV is a streaming setup that offers TV programs to the audience via the internet. It works on an IP-based network, which provides multimedia services combining text, audio, graphics, and video. An IP address is mandatory to avail IPTV services, which can be bundled with other services, such as high-speed internet access and voice over IP (VoIP). IPTV transmission is done via two routes: wired and wireless. In 2017, the more popular IPTV transmission route was wired transmission, accounting for more than 53.0% of the total revenue generated.
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This can be attributed to the growing inclination toward wired transmission methods as these provide better connectivity and prevent data loss and picture break-up. Technical advancements have led to the surging demand for high-definition (HD) channels and video-on-demand (VoD) services, which are now giving a new face to IPTV services. As more companies are investing in this sector, the prices of IPTV services have become extremely competitive. Attractive bundle offers by service providers over high-speed networks are further contributing to the increasing IPTV adoption.
The on-demand consumption of videos via digital platforms, such as interactive TVs and PCs, which also allows users to stream the content online, is termed as a VoD service. This enables users to access their choice of content as per their convenience. Therefore, the demand for VoD is observing a rise, and it is one of the main factors supporting the growth of IPTV services.
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