The market is estimated to more than triple in size, rising to $79.38 billion by 2020 from $24.94 billion in 2013, according to a new report by Transparency Market Research. The compound annual growth rate (CAGR) over that time will be 18.1%.
Recent periods of growth have occurred in Europe, which dominated the worldwide IPTV market in 2013. Western Europe had the largest IPTV revenue -- a 38% share.
Over the next five years, Asia-Pacific is projected to be the fastest-growing regional market for IPTV. Excluding Japan, the region will post a 21.1% CAGR from 2014 to 2020.
China is expected to be a major mover with IPTV -- due to a growing middle class, rising broadband infrastructure and declining costs.
The IPTV market in North America is expected to have 13.7 million TV homes this year -- rising to 14.4 million, according to Statista. In 2012, the number of IPTV customers stood at 10.6 million.