Once upon a time our children were small and we shopped for a minivan. Many of the options available had an “entertainment” package whereby we could enjoy the addition of a television screen and our small kiddos could watch anything available on DVD anytime we were in the car. It was the dawn of mobile TV.
Being the strict parents we were, we opted not to go with the entertainment package as we felt our children watched too much television at that time. Fast forward 15 years and not only do our children have mobile TV, they have it on a much more innovative screen than what we were originally considering.
Today, web-scale networking is the primary focus for delivering mobile TV as we all want entertainment wherever and whenever we want it. And while it’s been a fun ride to watch this growth over the past few years, we’ve only just scratched the surface on the potential that we have to experience in this space.
In fact, according to a post by Rapid TV News, the mobile TV space is ready to experience a massive surge by 2024. A study by Transparency Market Research (TMR) found that the market is exceedingly fragmented and the top 10 players account for less than 25 percent of business in 2015, yet it will be boosted by the fact that most smartphones and tablets today are TV-enabled. There has also been a significant increase in the use of TV applications.
With the opportunity in this space sitting at $7.69 billion in 2015 and a forecast of $17.02 billion by 2024, we should expect to see considerable innovation and activity in this space. In 2015, web-scale networking access meant that pay-TV services dominated the market in 2015 with a share of 52 percent. This segment is expected to continue to lead the market throughout 2024. The leading revenue generator has is the Asia Pacific region in global mobile TV and is expected to hold its 42 percent share by the end of 2024.
“This can be attributed to the rise in mobile TV subscriptions, which will increase at an astounding 40.3% CAGR from 2016 to 2024,” said a TMTR spokesperson in Rapid TV News. “Large players have been expanding their regional reach and a strong brand name enables them to push their products in the mobile TV market and achieve a greater market share.”
As growth in this space continues, vendors, manufacturers and developers alike are sure to jump on board, bringing new innovations and driving demand. User behaviors and preferences will certainly play a key part, but users don’t always know what they want until they see it. Given these projections, it will be exciting to see what comes next.
Edited by Maurice Nagle