The Global Cloud TV Market size is expected to reach $4.9 billion by 2028, rising at a market growth of 20.3% CAGR during the forecast period.
A software platform called Cloud TV virtualizes CPE or STB features, enabling pay-tv operators and other video streaming service providers to equip current and future-generation cable television and IPTV set-top boxes, as well as connected consumer electronics devices, with cutting-edge user interfaces and online video services like YouTube and Hulu.
In 2006, ICTV and Switched Media, a company that creates solutions for the customization of video streams, merged to become ActiveVideo. In 2008, the business adopted the moniker ActiveVideo. By virtualizing STB functionality, Cloud TV makes it possible for current and the next devices, including QAM STBs and "newer IP-capable devices, such as Charter's new Worldbox," Internet-connected TVs, and specialized streaming boxes, to offer Web-like guides and full online video experiences.
Multichannel News reports that ActiveVideo's strategy aims to prevent that operational nightmare by requiring that it only be written once, in HTML5, and handled from the cloud, "rather than needing operators to create a different edition of the UI for each device, operating system, and rendering engine". Screenplays continue by saying that the platform allows for the distribution of "secured OTT broadcasts as an integral component of channel offerings" without having to change the customers' current gadgets.
All consumers' habits and routines have been significantly changed by the COVID-19 health issue. Mandates for working from home and social isolation have increased in-home video usage to previously unheard-of levels. Through a wealth of online information, consumers are also developing new skills and staying entertained. The COVID-19 pandemic has changed how people work, whether it is through OTT platforms, video hosting websites like YouTube, or video conferencing equipment and software for conducting webinars and internal meetings. The COVID-19 pandemic and the contemporary period have increased in-home video usage to heights never before seen. Viewers consume a variety of stuff for almost 7 hours and 55 minutes per week on average which propels the growth of the Cloud TV market.
The method that video material presented to consumers is evolving as a result of technological advancements and consumer behavior. With these developments, established media models and platforms are being replaced by digital distribution via the internet to a variety of linked devices. Three significant disruptions for broadcasters and telecommunications companies are being brought on by this fundamental transformation, and each one calls for cloud TV platforms' scalability, cost flexibility, and agility.
Rising 5G technology usage and expanding wireless communication developments are anticipated to accelerate market expansion. To improve the cloud TV experience, many telecom providers are making investments in the development of 5G technologies. For instance, Nokia and AT&T worked together to complete fixed wireless 5G tests using AT&T's internet TV streaming service, DIRECTV NOW, to advance 5G technology in the 39 GHz band.
The lack of fast network infrastructure is one of the key obstacles to the widespread adoption of cloud TV. Connectivity to the internet and mobile devices is a key component of cloud TV. Rural areas continue to have connectivity issues with mobile networks. These regions lack facilities and have limited connectivity, making them remote and archaic. For cloud TV providers, this problem has made it very difficult for them to reach out to remote areas.
Based on the Deployment Type, the Cloud TV Market is segmented into Public cloud and Private cloud. The private cloud segment witnessed a significant revenue share in the cloud tv market in 2021. A private cloud is a cloud services infrastructure that is exclusively used by one client. This method combines many advantages of cloud computing with the security and management of on-premises IT equipment.
On the basis of Organization Size, the Cloud TV Market is divided into Small and Medium-sized Enterprises and Large Enterprises. The large enterprise segment procured the largest revenue share in the cloud tv market in 2021. Cloud TVs assist businesses with rapid and simple installations, assisting them in growing their current markets. They decrease building and maintenance expenses and save a lot of time.
Based on the Device Type, the Cloud TV market is fragmented into Mobile phones & Connected TVs, and STBs. The STBs segment witnessed a substantial revenue share in the cloud tv market in 2021. A set-top box is a hardware device that receives, decodes, and displays a digital signal on a television. The signal can be either a television signal or Internet data and is received through a telephone or cable connection.
By Verticals, the Cloud TV Market is classified into Telecom companies, Media organizations & broadcasters. The Telecom companies segment garnered the highest revenue share in the cloud TV market in 2021. It is due to the expansion of the telecom sector across various nations of the world. In addition, key companies operating in the telecom sector are significantly investing in the adoption of advanced solutions like cloud TV.
Report Attribute | Details |
---|---|
Market size value in 2021 | USD 1.4 Billion |
Market size forecast in 2028 | USD 4.9 Billion |
Base Year | 2021 |
Historical Period | 2018 to 2020 |
Forecast Period | 2022 to 2028 |
Revenue Growth Rate | CAGR of 20.3% from 2022 to 2028 |
Number of Pages | 213 |
Number of Tables | 400 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
Segments covered | Deployment Type, Device Type, Organization Size, Vertical, Region |
Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
Growth Drivers |
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Restraints |
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Region-wise, the Cloud TV Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region procured the highest revenue share in the cloud tv market in 2021. It is one of the original cloud TV users. The expansion of cloud TV in the area is influenced by the existence of various major businesses and startups. Another important element for the expansion of cloud TV in the area is the existence of numerous service providers and businesses offering video streaming platforms including live video streaming and video-on-demand.
Free Valuable Insights: Global Cloud TV Market size to reach USD 4.9 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SeaChange International, Inc., Brightcove, Inc., CSG Systems International, Inc., Comcast Technology Solutions, Aferian plc, Kaltura, Inc., MediaKind, IntelliMedia Networks, MatrixStream Technologies, Inc. and Minerva Networks, Inc.
By Deployment Type
By Organization Size
By Device Type
By Vertical
By Geography
The Cloud TV Market size is projected to reach USD 4.9 billion by 2028.
Demand for Improved On-Demand or Interactive Viewing User Experiences are driving the market in coming years, however, Rural Areas Lack High-Speed Internet Infrastructure and Internet Access restraints the growth of the market.
SeaChange International, Inc., Brightcove, Inc., CSG Systems International, Inc., Comcast Technology Solutions, Aferian plc, Kaltura, Inc., MediaKind, IntelliMedia Networks, MatrixStream Technologies, Inc. and Minerva Networks, Inc.
The expected CAGR of the Cloud TV Market is 20.3% from 2022 to 2028.
The Public Cloud market acquired maximum revenue in the Global Cloud TV Market by Deployment Type 2021; thereby, achieving a market value of $3.2 billion by 2028.
The North America market dominated the Global Cloud TV Market by Region 2021; thereby, achieving a market value of $1.7 billion by 2028.
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