Europe and Asia are the leading territories in terms of the over-all number of subscribers. But in terms of service revenues, Europe and North America generate a larger share of global revenue, due to very low average revenue per user (ARPU) in China and India, the fastest growing (and ultimately, the biggest markets) is Asia. The global IPTV market revenues are forecast to grow from US$12 billion in 2009 to US$38 billion in 2013.[20]