Cloud Tv Market is projected to rise at a significant CAGR of 21.5% during 2022-2029, reaching USD 7,761 million in 2029 | Size, Industry Report & Forecast

Cloud Tv Market size reached USD 1,634 million in 2021 and is projected to reach USD 7,761 million in 2029 growing at a higher CAGR of 21.5% during 2022-2029

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The factors driving growth of the Cloud Tv Market includes growing popularity of Over the Top (OTT) platforms, increasing consumption of digital content in tablets, smartphones, and connected TVs, developments in wireless communication systems and improvements in the living standards. Moreover, commercialization of 5G technology, introduction of 3D content in television broadcasting, rising demand for high-definition picture quality across the globe, emerging trend of Work from Home (WFH) and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading corporations on research and development, rise in the launch of innovative products, strategic partnerships between companies and growing population growth rates, are further contributing towards the market growth.

However, growth of the Cloud Tv Market is hindered due to Government policies regarding bandwidth allocations.

The prominent players operating in the market are MwareTV, MatrixStream Technologies, Inc., CSG Systems International Inc, Kaltura, Inc., Brightcove Inc., Amino Communications, Viaccess-Orca, Simplestream Limited, Muvi LLC and IntelliMedia Networks., among others.

Based on Organization Size, the Large Enterprises segment is predicted to grow at a significant CAGR during the forecast period

Cloud Tv solutions are easy to install and reduces building and maintenance expenses, along with growing demand for personalized content and online video services, are some of the factors pushing Cloud Tv Market size.

Based on Vertical, the Media organizations and broadcasters' segment is projected to expand at a remarkable CAGR over the forecast period

Shift from existing broadcasting models to digital distributions and increasing use of cloud TV platforms to broadcast sporting events, are propelling growth of the segment.  

Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period

Increasing penetration of smartphones and connected television across India, Japan, and Singapore, growing adoption of advanced technologies by manufacturers, roll-out of 5G technology, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Key Developments

In 2020, CSG Systems International Inc and Bell Canada, partnered to provide advanced wireless, Internet, TV, and business services. CSG Systems International would continue to support the residential customer service and billing for Bell Canada's Fibe and Alt TV services.
In 2019, Brightcove Inc. completed the acquisition of online video platform business of Ooyala, a provider of cloud video technology, for USD 15 million in cash and stock. The strategic acquisition strengthens Brightcove's position as a market leader in the online video industry.

Market Segmentation

Segmentation by Deployment Type

Public cloud
Private cloud

Segmentation by Device Type

Set Top Box
Mobile phones and Connected TV

Segmentation by Organization Size

Small and Medium-sized Enterprises
Large Enterprises

Segmentation by Vertical

Telecom companies
Media organizations and broadcasters

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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