global IPTV market was valued at $24.94 billion in 2013 and is expected to reach $79.38 billion by 2020, growing at a CAGR of 18.1% from 2014 to 2020.

Western Europe was the largest revenue contributor in 2013, accounting for almost 38% of the global IPTV market revenue, according to a new market report published by Transparency Market Research IPTV Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 2020.

The growth is mainly driven by increasing broadband penetration and decreasing prices of IPTV subscription globally. The IPTV market lately has also witnessed increase in number of IPTV subscribers, mainly fueled by demand for enhanced user viewing experience as delivered by IPTV and development of supporting infrastructure in emerging countries. Asia Pacific is analysed to be the fastest growing market for IPTV during the forecast period. IPTV market for Asia Pacific excluding Japan is estimated to grow at a CAGR of 21.1% from 2014 to 2020. China, India, South Korea and Indonesia are expected to be the major contributors to the market in the near future.

The global IPTV Market is expected to witness hefty growth during the forecast period mainly driven by VoD services, interactive services, multi-view on multi-screens offered by telcos along with pure-play IPTV services. The market is poised to grow considerably due to increasing broadband penetration in Asia Pacific, Middle East and Africa, and Latin America, which helps in meeting the primary infrastructure requirements needed to deliver IPTV services.