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Transparency Market Research has released a new publication which studies the emergence of IPTV. The report states that the global IPTV market is estimated to grow from $24.94 billion in 2013 to $79.38 billion in 2020, registering a strong CAGR of 18.1 per cent between 2014 and 2020.
Fuelled by falling IPTV subscription prices and expanding broadband penetration, Western Europe dominated the overall market for IPTV in terms of revenue generation in 2013, enjoying a 38 per cent share of the total revenue that year. Asia Pacific is estimated to be the fastest growing regional segment of global IPTV market in the coming years, with South Korea, India, Indonesia and China being the largest contributors. The region of Asia Pacific excluding Japan is projected to register a CAGR of 21.1 per cent during the forecast period of 2014 to 2020.
The growth of IPTV market can be attributed to surging demand for HD channels and video on demand, combining interactive services with IPTV services and government initiatives across the globe.