The global cable television networks market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising penetration of digital content owing to high speed internet across the globe. Moreover, increasing number of cable subscribers is anticipated to propel the market growth.
Cable television network generally refers to the subscription of video services with the help of coaxial fibers. Cable TV has become the pivotal source for broadcasting movies, sports events, news, popular shows or series, and kids related content. Consumers can only pay for the contents they want to watch or subscribe on the TV. In recent years, the cable TV networks market is growing at a rapid pace over the years owing to penetration of latest technology and adoption of business models.
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Major industry players are becoming multi-system operators (MSOs) as they can virtually provide multiple cable systems. This, in turn, has created price fluctuation of the services in the local markets, which is majorly impacted by intense competition in the market. Companies are focusing on quality of service and distribution of the channels to maintain the loyalty and increase their customer base.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of high definition (HD) channels and rising penetration of video on-demand (VoD) services are anticipated to propel the market growth.
- Growing disposable income, rising population and unemployment rate, and presence of affordable cable network plans are expected to spur the market growth.
- Requirement of high capital investment for the service installation is one of the major challenges that can restrain the market growth.
- COVID-19 pandemic has imposed lockdown in many countries across the globe. This, in turn, has encouraged people to stay home to mitigate the spread of the virus. On account of this, people are increasingly demanding for digital content to spend their leisure time, which is driving the growth of the cable television networks market.
- Rising investment in the broadcast technology to improve the transmission is speculated to boost the market growth.
- Advent of digitized broadcasting platforms in low and middle-level countries are expected to create remunerative opportunities during the forecast period.
Cable Television Networks Market Segment Insights
Multipoint Distribution System Services (MDS) to exhibit a high CAGR
Based on services, the market is segmented into direct broadcast satellite services (DBS), cable & other pay television services, satellite master antenna systems service (SMATV), closed-circuit television circuits, subscription channel services, and multipoint distribution system services (MDS). The SMATV segment accounted for a large market share in 2020, in terms of revenue and is expected to register a substantial CAGR during the forecast period. SMATV enables distribution of television and sound signals in many households that are in close proximity to each other.
Market in Asia Pacific to expand at a robust CAGR
In terms of regions, the market is classified as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a significant market share in 2020 owing to early adoption of latest technology and presence of major companies in the countries especially the US and Canada. High purchasing power and increasing spend of consumer on entertainment services are driving the growth of the market in this region. On the other hand, the market in Asia Pacific is anticipated to expand at a robust CAGR owing to the emergence of digitized delivery system in emerging economies such as India and China. Moreover, rising disposable income of consumers in the region is acting as one of the major contributors for the regional market growth.
Compititive Landscape
Major players of the global cable television networks market are Comcast Corporation, Liberty Media Corp., Cox Enterprises Inc., Viacom Inc. (ViacomCBS), Vivindi SA, Discovery Communication Inc., and Time Warner Cable Inc.
Companies are engaging in mergers, acquisitions, and partnerships to expand their market share. Moreover, they are focusing on expanding their product portfolio to leverage their market position. In August 2019, Viacom announced that it had entered into a merger with CBS Corporation. These two companies decided to come together after their split up in 2006.
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