IPTV Market Analysis South Korea - Size and Forecast 2024-2028

South Korea IPTV Market Size 2024-2028

The IPTV market size in South Korea is forecast to increase by USD 6.36 billion at a CAGR of 28.5% between 2023 and 2028. The IPTV market is experiencing significant growth, driven by several key trends. The rise in the adoption of mobiles and smartphones has led to an increase in demand for IPTV services, enabling consumers to access live TV and video-on-demand (VOD) content on the go. Furthermore, the growing popularity of VOD services, such as Netflix and Amazon Prime, is fueling the market's growth. However, challenges persist, including the issue of piracy and illegal streaming of content, which undermines revenue growth for IPTV providers. To mitigate this challenge, industry players are investing in advanced security measures and collaborating with content providers to protect their intellectual property. Overall, the IPTV market is poised for continued growth, driven by increasing consumer demand for high-quality, flexible, and convenient content delivery solutions.  The market report forecasts market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.

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IPTV, or Internet Protocol Television, is revolutionizing the media and entertainment industry by offering real-time streaming and on-demand viewing of high-definition (HD) content. This communication technology, which delivers television programs and movies through the internet, is becoming increasingly popular as more consumers shift away from traditional broadcasting methods like cable TV and satellite television. IPTV utilizes a set-top box or receiver to decode and display the content, allowing for the delivery of value-added services such as SVOD (Subscription Video-on-Demand) and VOD (Video-on-Demand). Streaming services like Amazon Prime Video and Netflix have significantly contributed to the market shift towards IPTV, offering vast libraries of HD channels and on-demand content. The adoption of smart TVs, which can directly access IPTV services without the need for a separate set-top box, is further fueling the growth of this market. The network architecture of IPTV enables real-time streaming protocols, ensuring a seamless viewing experience for consumers. With the increasing availability of high-speed internet connections and the convenience of on-demand viewing, the future of media consumption is undoubtedly in IPTV.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Component Outlook
  • Hardware
  • Software
  • Services

• Type Outlook
  • Wired
  • Wireless

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period. The IPTV market is witnessing significant growth due to the increasing preference for non-linear television and ultra high definition (UHD) content, fueled by the adoption of 5G technology. Customer preferences are shifting towards internet-based streaming services such as Amazon Prime Video and Netflix, leading to a market shift from traditional broadcasting methods like Satellite TV and Local Cable TV. Software services play a crucial role in the delivery of IPTV, with programming code enabling seamless content availability and live streaming. Telecommunications companies are investing in network architecture to support IPTV services, with both wired and wireless transmission methods being utilized. Small and Medium Enterprises (SMEs) are also adopting IPTV for their communication technology needs, leading to an increase in IPTV subscribers. 

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The hardware segment accounted for USD 488.8 million in 2018. Content hubs, including video-on-demand services and over-the-top (OTT) services, are driving the growth of the market. Moreover, the integration of IPTV with video calling/conferencing, smart home technologies, video games, healthcare and medical services, and online stores is expanding its application areas. The increasing internet penetration and broadband penetration are also contributing to the growth of the market, with the resulting increase in internet traffic leading to improved content delivery. The future of IPTV looks promising, with advancements in technology and customer preferences continuing to shape its evolution.

Our researchers analyzed the data with 2023 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.

Key Market Driver

The rise in adoption of mobiles and smart devices is notably driving market growth. The market is experiencing significant growth due to the increasing popularity of smart devices and the demand for ultra-high definition (UHD) content. With the widespread adoption of smartphones, tablets, and smart TVs, users are seeking access to their preferred television shows, movies, and other forms of entertainment on these devices. IPTV services, which enable users to access live TV channels and additional features on mobile and smart devices, are well-positioned to meet this demand. Moreover, the integration of 5G technology and advancements in network architecture are enabling IPTV providers to offer new services and features. For instance, some multiscreen IPTVs enable subscribers to access content on multiple devices concurrently, allowing users to watch live TV on a smart TV while streaming a movie on a tablet or smartphone. The IPTV market is witnessing a market shift from traditional broadcasting methods such as satellite TV and local cable TV to internet-based streaming services like Amazon Prime Video and Netflix.

Further, this shift is driven by customer preferences for non-linear television and on-demand content, as well as the convenience and flexibility offered by subscription-free IPTV services. IPTV services also cater to various industries, including healthcare and medical, gaming, and online stores. These services offer video-on-demand, over-the-top (OTT) services, video calling/conferencing, smart home technologies, and video games. The increasing internet penetration and broadband penetration in South Korea are further fueling the growth of the IPTV market. In summary, the IPTV market in South Korea is witnessing significant growth due to the increasing popularity of smart devices, the demand for UHD content, and the shift from traditional broadcasting methods to internet-based streaming services. IPTV providers are leveraging software services, wired and wireless transmission, and advanced network architecture to offer new services and features, catering to various industries and customer preferences. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The growth in demand for video-on-demand (VOD) is the key trend in the market. IPTV, or Internet Protocol Television, is revolutionizing the way we consume media, with platforms such as Amazon Prime Video and Netflix leading the charge. Ultra High Definition (UHD) content, enabled by 5G technology, is becoming increasingly popular among customers, who value the superior viewing experience. Software services play a crucial role in IPTV, facilitating non-linear television and subscription-free models. Telecommunications companies, including SMEs, are shifting their network architecture towards IPTV, offering wired and wireless transmission options for enhanced content availability. IPTV subscribers can now enjoy live streaming of their favorite shows, movies, and events, as well as Video-on-Demand (VOD) services and Over-the-Top (OTT) platforms.

Additionally, advertising and marketing opportunities abound, with targeted ads based on user preferences and viewing history. Healthcare and medical services, gaming, and online stores are also exploring the potential of IPTV for seamless integration and improved user experience. The market shift from traditional broadcasting, including Satellite TV and Local Cable TV, towards internet-based streaming is accelerating. Communication Technology continues to evolve, with advancements in programming code and network architecture enabling advanced features such as video calling/conferencing, smart home technologies, and video games. Digital Television is becoming the norm, with broadband penetration and Internet traffic increasing exponentially. Content hubs are emerging, offering a vast library of HD Channels and VOD services for a more personalized and convenient viewing experience. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Piracy and illegal streaming of content is the major challenge that affects the growth of the market. The market is experiencing a significant shift from traditional broadcasting methods such as Satellite TV and Local Cable TV to internet-based streaming services. Key players in this market include Amazon Prime Video and Netflix, which offer Ultra High Definition (UHD) and Non-linear television content. The adoption of 5G technology is expected to further fuel the growth of IPTV, enabling Wireless transmission of HD Channels and Video-on-Demand Services. SMEs and Telecommunications companies are investing in IPTV to expand their offerings and cater to evolving Customer preferences. Content availability and Live streaming are crucial aspects of IPTV, with Advertising and marketing, Healthcare and medical, Gaming, and Online stores being popular use cases. Programming code and Network Architecture are essential components of IPTV, enabling seamless delivery of services.

Further, piracy and illegal streaming of content pose challenges to the market, impacting revenue for IPTV Subscribers, content creators, and distributors. Broadband Penetration and Internet Traffic are key factors influencing the growth of IPTV, with Content Hubs playing a pivotal role in providing a wide range of services including Video Calling/Conferencing, Smart Home Technologies, and Video Games. Despite these challenges, the future of IPTV looks promising, with Digital Television and Over-the-Top (OTT) Services becoming increasingly popular. The market is expected to witness significant growth due to the increasing penetration of Communication Technology and the convenience and flexibility offered by IPTV services. Hence, the above factors will impede the growth of the market during the forecast period.

Exclusive Customer Landscape

The market forecasting 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 market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

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.

Akamai Technologies Inc. - The company offers IPTV solutions through Adaptive Media Delivery which is designed to ensure that content is delivered to viewers at optimal quality.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Akamai Technologies Inc.
• AT and T Inc.
• Cable TV Companies
• KT Corp.
• LG Electronics Inc.
• Onnetsystems Korea Inc.
• SK Telecom Co. Ltd.

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.

IPTV, or Internet Protocol Television, is revolutionizing the media and entertainment industry by offering real-time streaming and on-demand viewing experiences. IPTV delivers television content over high-speed internet connections, enabling access to home entertainment systems, streaming services, Subscription Video-on-Demand (SVOD), and Video-on-Demand (VOD) content on various devices, including set-top boxes, receivers, smart TVs, smartphones, tablets, desktops, and laptops. The technology is increasingly popular among corporate and enterprise sectors, healthcare, hospitality, and other industries, as it offers personalized content and interactive features. The adoption of IPTV is driven by the proliferation of 5G networks and the need for high-definition (HD) content transmission. The digital infrastructure required for IPTV includes hardware and software solutions, and content rights agreements with streaming platforms and content providers. IPTV's value-added services, such as real-time streaming protocol, enable seamless streaming experiences and enhance user engagement.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across South Korea
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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