Traditional TV & Home Video Industry Overview
The global traditional TV & home video market size was valued at USD 421.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.1% from 2022 to 2028.
The increasing adoption of television around the globe due to the availability of a variety of entrainment content on these media platforms is accelerating the market growth. Moreover, the rising demand for better quality video content with high resolution is expected to accelerate the market growth during the forecast period. In addition to this, the increasing spending on traditional TV advertising by various industries owing to the cost-effective advertisement and high conversion rate is accelerating market growth. Also, the growing urbanization and rising adoption of new technological development across the globe are anticipated to propel market growth during the upcoming years.
Gather more insights about the market drivers, restrains and growth of the Global Traditional TV & Home Video Market
The increase in streaming services coupled with specialized services with network content around the globe is propelling the market growth. In addition to this, the increasing demand for on-demand video services is driving market growth. Traditional TV advertisement engages potential customers across the emerging economies to create brand awareness and also compliments the brand’s advertising campaigns on other channels, which is projected to accelerate the market growth. However, the rising number of smartphone users across the globe is hindering the market growth.
Moreover, the rapid adoption of the integrated broadband broadcasting system from service providers to offer diversified services to consumers is driving the market growth. Furthermore, the increasing demand for a combination of broadband technology and broadcast due to offers efficient mass content delivery and personalized service is accelerating the market growth. However, strict government rules and regulations regarding the distribution of authentic content, and piracy are the major factors restraining the market growth. Additionally, newer advertising platforms like social media and digital video advertising are gaining traction in recent years is the major restraining factor for the TV advertising market growth.
The COVID-19 pandemic has negatively affected the market in response to the pandemic, governments around the world implemented several measures to try to contain the virus, such as quarantines, shutdowns, travel bans, restrictions, and work-from-home orders. Moreover, the pandemic and subsequent slow economy impacted several core television advertisers such as promoting community events, retail, and entrainment. These categories cut back on their marketing budgets, accelerating declines in advertising. Moreover, the ease of several restrictions and rising investment in advertising and media in emerging economies have projected to drive market growth during the forecast period.
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Key Companies profiled:
Some prominent players in the global traditional TV & home video market include
- AT&T Inc.
- Comcast Corporation
- DISH Network L.L.C.
- Discovery, Inc.
- Fox Corporation Carter Communications
- Foxtel
- Frontier Communications
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