Free-to-Air Services Market to Reach $337.3 Billion, Globally, by 2032 at 11.2% CAGR: Allied Market Research
The global free-to-air services market is driven by a rise in the adoption of Internet Protocol Television (IPTV), increase in the number of subscribers, surge in the integration of government initiatives in digital broadcasting and FTA services.
PORTLAND, Ore., Sept. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Free-to-Air Services Market by Device Type (Cable Television, Satellite Television, Mobile TV, Radio), by Application (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global free-to-air services industry generated $120.28 billion in 2022, and is anticipated to generate $337.3 billion by 2032, witnessing a CAGR of 11.2% from 2023 to 2032.
Free-to-air services are provided around the world by the broadcasters with zero encryption and no monthly subscription. User can easily access these programs without subscribing to a cable company.
Prime determinants of growth
Rise in adoption of Internet Protocol Television (IPTV) and the increase in number of subscribers drive the growth of the market. In addition, the surge in the integration of government initiatives in digital broadcasting and FTA services has fueled the growth of the free-to-air services market. However, lack of content security and data piracy limit the growth of this market. Conversely, emergence of Over-the-top (OTT) platforms with free streaming services is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
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The cable television segment to maintain its leadership status throughout the forecast period
Based on device type, the cable television segment held the highest market share in 2022, accounting for around half of the global free-to-air services market revenue, owing to increasing investments from private and public enterprises and surge in consumer demand for better television distribution infrastructure. However, the mobile television segment is projected to manifest the highest CAGR of 13.5% from 2023 to 2032, owing to rise in availability of affordable mobile business services across diverse telecommunication carriers and the platform, along with the growing utilization of smart equipment, such as smartphones and tablets.
The residential segment to maintain its lead position during the forecast period
Based on application, the residential segment accounted for the largest share in 2022, contributing to nearly four-fifths of the global free-to-air services market revenue, owing to the increase in adoption rate of FTA television channels among residential areas due to free and easy accessibility features, which eventually drives the need for FTA services in residential applications. The same segment is expected to portray the largest CAGR of 11.9% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, as it can be used for entertainment, education, community engagement, and digital literacy.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global free-to-air services market revenue and is likely to dominate the market during the forecast period, owing to the increased interest of consumers in OTT solutions and streaming platforms such as Netflix, Amazon, and others along with favorable government support and initiatives in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.5% from 2023 to 2032, owing to an increase in digital markets in Central and Southern Asia, new regulatory requirements, and the rise in need for high bandwidth for both regional and inter-continental connectivity.
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Leading Market Players:
The report provides a detailed analysis of these key players of the global free-to-air services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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