Cloud TV Global Market Report 2024

The global cloud TV market has grown rapidly in recent years. It will grow from $2.47 billion in 2023 to $2.83 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The historic growth of cloud TV can be attributed to the increased popularity of streaming services, widespread adoption of smart TVs, the growth of over-the-top (OTT) content, higher internet penetration, and the expansion of content libraries.

The global cloud TV market is expected to see rapid growth in the next few years. It will grow to $5.07 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The forecasted growth of cloud TV can be attributed to enhancements in quality of service, integration with smart home devices, the introduction of cloud DVR and on-demand services, the prevalence of mobile-centric viewing habits, and the diversification of content libraries. Major trends in the forecast period include the adoption of subscription models and bundling, a focus on user interface and experience, strategic partnerships and licensing deals, seamless integration with devices, and monetization through advertising.

The expansion of internet penetration is anticipated to drive the cloud TV market's growth. The increasing use of digitalization facilitated by the internet is reshaping business practices to meet evolving demands and market requirements. Factors such as heightened internet penetration, rising income levels, growing social media subscriptions, and enhanced communication needs contribute to the growing demand for cloud TV services. Notably, during the COVID-19 pandemic, cloud TV usage surged due to prolonged quarantine periods and the prevalence of work-from-home setups, resulting in increased digitalization fostering productivity, efficiency, and a focus on innovation to drive business growth. Statistics Canada's Canadian Internet Use Survey 2022 reported a rise in internet usage among Canadians aged 15 and older from 92% in 2020 to 95% in 2022.

The upward trajectory of income levels is poised to propel the cloud TV market's expansion. Income levels, representing the earnings received by individuals or households within a defined period, play a crucial role in expanding the consumer base's purchasing power. Rising income levels empower more individuals to afford subscription-based streaming services and personalized content, contributing to the growth of the cloud TV market. According to the Bureau of Economic Analysis, disposable personal income in the United States experienced a $7.3 billion increase (less than 0.1 percent).

Technological advancement emerges as a significant trend driving the cloud TV market. The increasing adoption of 5G technology has notably influenced the demand for cloud TV services, prompting substantial investments to enhance the viewing experience and solidify market positions. Cloud TVs with advanced streaming capabilities enable seamless content streaming across various devices, including laptops, smartphones, and tablets. For instance, Breezeline, a US-based cable company, introduced the Breezeline Stream TV, a next-generation cloud-based TV service with features like live TV, DVR, on-demand content, and popular streaming apps.

In the competitive landscape of the cloud TV market, major companies are strategically focusing on introducing affordable smart TVs. These television sets combine traditional viewing features with smart technology functionalities, such as internet connectivity and streaming services, while maintaining a relatively lower cost compared to premium models. For example, in February 2022, Daiwa, an India-based company, unveiled a series of affordable smart TVs in the Indian market, incorporating cloud TV support. The models, including the Daiwa D32C4S Smart Television, boast a full HD LED display, smart TV capabilities with Wi-Fi connectivity, and competitive pricing, emphasizing an enhanced viewing experience with vibrant colors and BIS certification for quality assurance.

In November 2022, Fireside, a US-based Web3 streaming platform, successfully acquired Stremium for an undisclosed amount. This strategic acquisition positions Fireside to fulfill its commitment as a platform transforming creators, celebrities, brands, and intellectual property owners into the studios, networks, and streaming services of the future. Stremium, a US-based open streaming TV platform with cloud DVR, aligns with Fireside's vision for advancing the landscape of streaming services.

Major companies operating in the cloud tv market report are Kaltura Inc., ActiveVideo Networks Inc., Amagi Corporation, Amino Technologies LLC, Brightcove Inc., Comcast Technology Solutions LLC, CSG Systems International Inc., IntelliMedia Networks, MatrixStream Technologies Inc., MediaKind Corporation, Minerva Networks Inc., Muvi Television, Mware Solutions SRL, Simplestream Limited, Viaccess-Orca Israel Ltd., SeaChange International Inc., Aferian PLC, Pontis Technologies LLC, Synamedia Ltd., Egla Communications, Phoenix Satellite Television Holdings, Ziggo Holding BV, PCCW Limited, Oceanic Time Warner Cable LLC, Character Communication Ltd., Liberty Global PLC, Blinkbox Entertainment Limited, Altice USA Inc., and Charter Communications Inc.

North America was the largest region in the cloud TV market share in 2023. The regions covered in the cloud TV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud tv market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of cloud TV services are private cloud, public cloud, and hybrid cloud. Private cloud services offer television broadcasts and media access through local area networks. These services are restricted to a select group of users, either within an organization or through a private internal network. The target users include small and medium-sized enterprises (SMEs) and large enterprises, particularly in the telecommunications, media, and broadcasting sectors. Cloud TV applications extend to television sets, mobile phones, tablets, and media boxes.

This report provides cloud TV market statistics, including cloud TV industry global market size, regional shares, competitors with a cloud TV market share, detailed cloud TV market segments, market trends and opportunities, and any further data you may need to thrive in the cloud TV industry. This cloud TV market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cloud TV market includes revenues earned by entities by providing cloud video platforms, video streaming services, and cloud TV streaming. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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