The increasing practice of smartphones and tablets universally has assisted in an increase in the mobile television market. Maximum smartphones and tablets nowadays are TV empowered and this has given rise to the noteworthy growth in the usage of mobile television applications. Due to the rampant growth in the smartphone and tablet business, the call for mobile television has also amplified. The intensifying dispersion of smartphones amongst buyers has augmented the demand for improved services. Additionally, the use of internet has amplified to 3.4 billion in 2016. The distribution of services like 5G, 4G, and 3G is also anticipated to boost the receipt of mobile television. Increase of enhanced and speedy internet services is expected to lift the demand for mobile Television in the forthcoming years.
Companies functioning in the mobile television market offer an assortment of services to consumers. These services comprise free to air services and pay TV subscription. Accordingly, there has been a noteworthy heave in the demand for first-rate services such as entertainment, movies, and live sports. These first-rate contents are in bidding owing to the surge in the implementation of VoD on native and regional stations. This has consecutively stemmed in an amplified demand for pay TV services. Because of this, the approval of mobile television is expected to escalate in the near future.
The global mobile television market is anticipated to magnify at a 9.5% CAGR from 2016 to 2024. The market was valued at $7.69 billion in the year 2015 and is estimated to upswing to a valuation of $17.02 billion by the end of 2024. Pay TV services ruled the market with a global share of 52% in 2015. The swell in pay TV services is expected to boost the acceptance of mobile TV. When it comes to the use of mobile TV services, Asia Pacific held a noticeable share in 2015 and is projected to uphold a position in the coming years.
The increase in LTE networks monies in developing economies has occasioned in an upwelling in the acceptance of mobile television in Latin America. Furthermore, the substantial growth in the area is also expected to lift the demand for smartphones in the region contributing to an enlargement in usage of mobile TV. The entrance of new players accompanied by leading global players in economies of Middle East and Africa are projected to elevate the application of mobile TV services in the region. The increase in disposable income is an additional aspect motivating the progress of the mobile television market in the region.
Read more on Mobile TV on: