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The South Korea - IPTV Market size is estimated to grow at a CAGR of 20.04% between 2022 and 2027. The market size is forecast to increase by USD 3,172.9 million. The growth of the market depends on several factors such as the rise in mobile and smart device adoption, the increasing demand for high-quality content, and the government support and regulations for the IPTV industry.
This South Korea IPTV market analysis extensively covers market segmentation by component (hardware, software, and services) and type (wired and wireless). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the IPTV market share in South Korea is the rise in mobile and smart device adoption. The main factor that is significantly contributing to the growth of the South Korea IPTV market is the rise in the adoption of mobile and smart devices. There is an increasing popularity of Smartphones, tablets, and smart TVs as well as rising demand for access by users to their favorite TV shows, movies, and other entertainment content on these devices.
Therefore, there is a growing preference for IPTV services as it is well-suited to meet such demands as they enable users to access live TV channels and other features on their mobile and smart devices. Furthermore, many multiscreen IPTVs enable subscribers to access content on multiple devices at the same time, making it possible to watch live TV on a smart TV while streaming a movie on a tablet or smartphone. Hence, such factors are positively impacting the South Korea - internet protocol television (IPTV) market. Therefore, it is expected to drive the South Korea IPTV market growth during the forecast period.
A key factor shaping the South Korea IPTV market growth is the growth in demand for video-on-demand (VOD). VOD can be referred to as the ability to watch movies, TV shows, and other content on-demand rather than being tied to a broadcast schedule. This feature specifically caters to consumers who seek the flexibility of watching content on their own schedule. Thus, several PTV service companies are providing VOD services to attract new customers and retain existing ones.
Moreover, factors such the the rapid growth of the Internet and the increasing adoption of smartphones, tablets, and other mobile devices are fuelling the popularity of IPTV services in South Korea. As a result, several local and international VOD providers are providing a wide range of content, including movies, TV shows, and original series. Hence, such factors are positively impacting the South Korea - internet protocol television (IPTV) market. Therefore, it is expected to drive the South Korea IPTV market growth during the forecast period.
Piracy and illegal streaming of content is one of the key challenges hindering South Korea IPTV market growth. The unauthorized use or distribution of copyrighted content can be referred to as piracy whereas e illegal streaming refers to the unauthorized streaming of copyrighted content over the Internet. As a result, it significantly impacts the revenue of IPTV service providers, content creators, and distributors.
Moreover, consumers who engage in piracy or illegal streaming are not required to pay to access the content. Therefore, several original IPTV service providers lose out on potential revenue which significantly hampers their ability to invest in new content. Hence. such factors are negatively impacting the South Korea - Internet protocol television (IPTV) market. Therefore, it is expected to hinder the South Korea IPTV market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
South Korea IPTV Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cablehdtvs: The company offers internet protocol television solutions such as Korean IPTV box with 100 plus live streaming Korean channels, unlimited sports channel, cartoon or kids drama and Video On Demand or VOD Movies.
The South Korea IPTV market research report also includes detailed analyses of the competitive landscape of the market and information about 5 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The hardware segment is estimated to witness significant growth during the forecast period. The hardware segment comprises the physical components required to deliver IPTV services such as set-top boxes, routers, switches, and other networking equipment. One of the main components of this segment is set-top boxes as they allow customers to access IPTV services on their television sets. This element is usually connected to the broadband modem or router which is used to decode and display the IPTV signals on the television screen.
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The hardware segment was the largest segment and was valued at USD 410.04 million in 2017. The growth of the hardware segment is fuelled by the increasing adoption of smart TVs and advanced STBs with IPTV capabilities. In addition, factors such as the increasing trend of home entertainment systems and the desire for high-quality video and audio experiences will significantly contribute to the growth of this segment. Furthermore, the advancements in technology such as the introduction of 4K and high display resolution (HDR) content will incentivize customers to invest in compatible hardware for an immersive viewing experience. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The South Korea IPTV market forecast report growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
South Korea IPTV Market Scope |
|
Report Coverage |
Details |
Page number |
103 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.04% |
Market growth 2023-2027 |
USD 3,172.9 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
19.65 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Cablehdtvs.com, KT Corp., LG Uplus Corp., Onnetsystems Korea Inc., and SK Telecom Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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