South Koreaâ€™s IPTV market is predicted to grow steadily at a Compound Annual Growth (CAGR) of 5% between 2016 and 2020.
This is according to the report IPTV Market in South Korea 2016-2020 by the Sandler Research.
South Korea has been identified as one of the major contributors in the Asia Pacific region by the Transparency Market Research because of this growth.
Aside from the rising number of fiber internet subscriptions, the increasing demand for video-on-demand (VoD) is seen to be another factor to drive the growth of the market in the region.
The popularity of on-demand content has been on the rise. This is the reason vendors are shifting from linear broadcast to on-demand services.
The growing interactive services are foreseen to further the market growth over the next four years. The interactive, personal TV experience is provided by an IP-based platform.
This platform allows its viewers to search for content and to surf for content while viewing a program without the need of closing it.
It also permits the viewers to search for statistics of players while watching a game. Controlling the camera angle for a different perspective is even possible with it.
The product segment of IPTV market in South Korea is composed of Live IPTV, Time Shifted IPTV, and VoD.
Of these three, the VoD dominates South Koreaâ€™s IPTV market. It commands a significant market share.
The audience prefers a variety of genres of content. It intensified the competition among vendors. Because of this competition, vendors started offering free popular on-demand content to their audience.
South Koreaâ€™s IPTV market caters both enterprise and residential customers. Enterprise customers account for 55% of the market share during 2015.
The IPTV has become more popular among enterprise consumers because it allows them to communicate better with their employees, satisfy compliance requirements, improve training, set up additional revenue outlets and minimize travel costs.
With the increasing demand for IPTV services in South Korea, it is very crucial for service providers to have a reliable IPTV platform without spending a huge startup cost such that of MatrixStreamâ€™s.
MatrixStream has a strong and reliable IPTV solution. We have helped telecoms and IPTV service providers around the world set up their own IPTV platform.
Our complete end-to-end IPTV solution allows you to deploy your own complete IPTV service almost instantly. Our IPTV solution is complete with customized Android, Apple iOS, PC, MAC, and set-top players.
To learn more how you can take advantage of the growing IPTV market and how we can help you set up or boost your IPTV services, click here.