The market research analyst predicts the IPTV market in South Korea to grow steadily at a CAGR of around 5% during the forecast period. The rising fiber internet subscriptions and the increased demand for video-on-demand (VoD) are expected to drive the market growth over the next four years. The popularity of on-demand content, especially for TV genres such as live sports, reality shows, sitcoms, drama, and programs for children, has been on the rise. This has led to vendors shifting from linear broadcast to on-demand services.
The growth of interactive services is expected to aid the market growth during the forecast period. An IP-based platform provides interactive, personalized TV viewing experience. It offers an interactive program guide that enables subscribers to search for content and allows viewers to surf for content without closing the program that is currently being viewed. This platform also enables viewers to search a players statistics while watching a game and even see the content through a different perspective by controlling the camera angle.
Product segmentation and analysis of IPTV market in South Korea
- Time shifted IPTV
- Live IPTV
The IPTV market in South Korea is dominated by the VoD segment, which commands a significant market share. The audience prefers different genres of content and catering to their needs has intensified competition among vendors. Vendors tend to offer popular on-demand content for free. Broadcasters can benefit by offering relevant ads to the audience based on their preferences, which is expected to result in higher conversion rates as compared to regular ads.
Segmentation by end-user and analysis of the IPTV market in South Korea
- Enterprise customers
- Residential customers
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Enterprise customers accounted for 55% of the market share during 2015. IPTV has been enjoying increased popularity in sectors such as hospitality, education, finance, media, energy, transport, and healthcare. These sectors have been dependent on IPTV to communicate better with their employees, satisfy compliance requirements improve training, set up additional revenue outlets and minimize travel costs.
Competitive landscape and key vendors
The growing demand for VoD and OTT contents is driving the market growth. Vendors are investing in developing new technologies to expand their market share. Technological innovations and creativity are expected to play a significant role in driving the market growth during the forecast period.
The leading vendors in the market are -
- SK Broadband
- LG UPlus
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Key questions answered in the report include
- What will the market size and the growth rate be in 2020
- What are the key factors driving the IPTV market in South Korea
- What are the key market trends impacting the growth of the IPTV market in South Korea
- What are the challenges to market growth
- Who are the key vendors in this market space
- What are the market opportunities and threats faced by the vendors in the IPTV market in South Korea
- What are the key outcomes of the five forces analysis of the IPTV market in South Korea
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