According to Digital TV Research forecasts for 97 countries, global pay TV revenues will climb to $203 billion in 2018, up by $19 billion on 2012. The research house believes the fast growth years for the sector are over, with annual growth expected to hover below 2% from 2015 on. Growth in 2013 is expected to be 3.2%.Satellite TV, DTH or DBS, revenues are expected to overtake cable TV revenues in 2013. Satellite TV is expected to account for 45.9% of the total in 2013, rising to 47.6% by 2018. Cable (both analog and digital) is expected to drop from 45.9% in 2013 to 40.7% in 2018. Telco IPTV is expected to climb from 7.5% in 2013 to 10.5% by 2018.