Cloud TV Market

Global Cloud TV Market Size (2024 to 2029)

The global cloud TV market is predicted to reach USD 2.83 billion in 2024 and USD 4.37 billion by 2029, growing at a CAGR of 9.12% during the forecast period.

The Cloud TV platform can be installed on any device, such as TVs, cell phones, tablets, and media boxes, making it an easily accessible tool. This platform eliminates the need for multiple cable and internet service providers, one of OTT service providers' main selling points. Cloud Television (TV) is a software platform that can be installed on smart devices such as TVs, tablets, mobile phones, media boxes, and others. These platforms eliminate the need for cable operators. The Cloud TV platform dynamically converts graphics, videos, and interactive streams into a single HTML or MPEG stream sent to set-top boxes over unicast bandwidth. It is a web and TV content fusion into a single stream and is delivered through set-top boxes using IP connectivity. With Cloud TV software, customers can watch multiple channels with high-definition picture quality. In addition, this software offers the ability to customize the subscription plan, record videos, and download media streams. Other features of a cloud TV include internet video streaming, HD resolution, total internet browsing, email, online gaming, and support for social networking sites like Facebook, MSN, Twitter, and Skype.

MARKET DRIVERS

The growing demand for rich, high-definition picture quality is driving the growth of cloud television worldwide. Additionally, the increasing adoption of smart devices such as smart TVs, smartphones, and tablets is contributing to the growth of the global cloud television market.

The cloud TV market is currently nascent; however, it offers enormous growth opportunities in developed and developing countries. Television manufacturers like Toshiba and Koninklijke Philips N.V. have started offering cloud TV solutions and applications pre-installed on their smart TVs. Due to the value-added demand for televisions, several other manufacturers are expected to install cloud television services on their smart televisions in the coming years. In addition, the growth of 3D content in broadcast television is driving the growth of the cloud television market.

The integration of HD streaming and the lack of lag in streaming services has driven up sales of cloud services over conventional set-top boxes. The arrival of 3D content and virtual reality on recently launched smart TVs has created a new opportunity for cloud TV service providers. Human spends an average of 3 hours per week in gaming-related entertainment activities, which is expected to increase dramatically with virtual reality and cloud gaming set to impact the gaming ecosystem. These trends indicate that the Integration of cloud services in TVs and other smart devices ensures market growth to a large extent during the forecast period.

Trends such as video on demand, streaming content, hyper-targeted content and advertising, and direct consumer relationships are increasing the demand for cloud television platforms in the media industry and entertainment. Analytics provides insight into customer needs and how to attract/retain the same viewers. In addition, the growing demand for high-definition resolution is also driving the growth of the entertainment and media market. Several companies, such as Toshiba Corporation and Koninklijke Philips N.V. Still others have cloud TV solutions and apps pre-installed on their smart TVs.

MARKET RESTRAINTS

Challenges for cloud TV developers include the lack of high-speed network infrastructure and government regulation on bandwidth allocations to provide Internet services.

Also, the lack of quality of the video content to be broadcast on cloud television is an additional challenge for the growth of this market. Furthermore, the vulnerability of Internet networks to hacking is a potential challenge for providers of cloud television platforms.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Cloud TV Market - By Services

 The global Cloud TV market is segmented into SaaS, IaaS, and PaaS.

Global Cloud TV Market - By the Cloud Deployment

 The worldwide market is segmented into private, public, and hybrid.

Global Cloud TV Market – By Streaming

Based on the streaming, the market is segmented into live streaming and video on demand.

Global Cloud TV Market – By End User

 The cloud TV market is segmented into IT and telecommunications, media and entertainment, consumers, and others. The media and entertainment segment is expected to develop with considerable CAGR in the coming days.

REGIONAL ANALYSIS

It was observed that North America captured the majority of the global cloud TV market. The region has countries like the United States and Canada that were the early adopters of cloud TV, thus consolidating the region's market position during the forecast period. The presence of leading players, along with the burgeoning start-ups, is expected to accelerate the expansion of the cloud TV market in North America.

In the Asia-Pacific region, China is a major revenue contributor to the public cloud. National companies fully adopt cloud services and IaaS, in particular. The local IaaS market is the first choice for small and medium-sized businesses to build computing resources for games, video, and mobile Internet.

Developing regions have the highest growth potential, with growing internet penetration and the number of smart devices configured to shape the market significantly over the forecast period. Countries like India have a large population, and it is estimated that it will host 800 million smart devices by 2020, making it the world's largest user of smart devices. This indicates the growth potential of the cloud TV market, indicating a rapidly changing market with significant room for improvement.

KEY PARTICIPANTS IN THE GLOBAL CLOUD TV MARKET

The major companies operating in the global cloud television market include Phoenix Satellite Television Holdings Ltd. (Hong Kong), Ziggo BV (Netherlands), PCCW Limited (Hong Kong), Charter Communications (United States), Liberty Global plc (United Kingdom), TalkTalk TV Entertainment Limited (United Kingdom), Altice USA (United States), Xfinity (United States), Liberty Global (United Kingdom), Brightcove, Inc. (United States), Ooyala, Inc. (Australia) and others.

RECENT HAPPENINGS IN THE GLOBAL CLOUD TV MARKET

• In April 2019, Brightcove Inc., a renowned video cloud services provider, published about its purchase of Ooyala’s online video platform business. This acquisition reinforces Brightcove's position in the online video business.

• In June 2018, Oracle NetSuite introduced artificial intelligence (AI) embedded in its cloud products, such as data integration, APIs, and mobile devices. This should automate essential organizational tasks, reduce risk, and speed up predictive analytics.

DETAILED SEGMENTATION OF THE GLOBAL CLOUD TV MARKET INCLUDED IN THIS REPORT

This research report on the global cloud TV market has been segmented and sub-segmented based on the services, deployment, streaming, end-user, and region.

By Services

• SaaS           
• IaaS            
• PaaS           

By the Cloud Deployment

• Public        
• Private      
• Hybrid       

By Streaming

• Live Streaming       
• Video on Demand

By End User

• IT and Telecommunications             
• Media and Entertainment
• Consumers   

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus