The IPTV market in South Korea is to grow steadily at a CAGR of 5% between 2016 and 2020, according to Sandler Research.
“The popularity of on-demand content, especially for TV genres such as live sports, reality shows, sitcoms, drama, and programmes for children, has been on the rise. This has led to vendors shifting from linear broadcast to on-demand services,” the researchers said.
The growth of interactive services is predicted to spur market growth during the forecast period, with IP-based platforms providing an interactive, personalised TV viewing experience.
The IPTV market in South Korea is dominated by competitive video-on-demand (VOD) services, with most popular on-demand content offered for free.
“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,” said a statement from Sandler Research.
Technological innovations and creativity are expected to play a significant role in driving the market growth between now and 2020, with VOD and over-the-top (OTT) video services accounting the largest chunks of the growing IPTV sector.