Albany, NY -- (SBWIRE) -- 07/18/2018 -- According to a new market report published by Transparency Market Research the global television broadcasting services market was valued at US$ 395.5Bn in 2016 and is expected to expand at a CAGR of 6.9% from 2018 to 2026, reaching US$755.7 Bn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the television broadcasting services market in 2016. This is primarily due to strong adoption of television broadcasting services such as cable television, satellite television, and IPTV across the region.

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Increasing demand for high definition content and advertisement as a growing source of revenue are the major factors which are expected to fuel the growth of the television broadcasting services market across the globe.The television industry has shifted from provider-driven to consumer-driven. Moreover, emergence of quality standards along with the technological advancements in manufacturing of devices are contributing significantly in meeting rising consumer expectations. Demand for high-quality OTT televisions, such as HBO Go and others are increasing as consumers prefer to have high standard quality videos and content.

According to Ericsson Mobility Report 2017, ownership of HD TVs has increased from around 75% in 2012 to almost 85% in 2017. Apart from this, companies are focusing on enhancing revenue through advertisements. Television serves as the most prominent source to reach a large audience and potential customers. Thus, adoption of television platforms by companies to improve their business operations is growing significantly due to its wide reach and increasing number of channels. This in turn is expected to drive the television broadcasting services market during the forecast period.

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The global market for television broadcasting services is segmented on the basis of delivery platform, broadcaster type, revenue model, and geographic regions. On the basis of delivery platform, the market is segmented into digital terrestrial broadcast, satellite broadcast, cable television broadcasting, internet protocol television (IPTV), and over-the-top television (OTT). In 2017, the cable television broadcasting services segment accounted for the largest market share in terms of revenue of the global television broadcasting services market.

Furthermore, demand for satellite television broadcasting service is also expected to gain major market share throughout the forecast period. On the basis of broadcaster type, the global television broadcasting services market is segmented into public and commercial. In 2017, public broadcasting segment accounted for the largest share of the market. Television broadcasting service providers are generating more revenue from the public sector.