Cloud TV Market Growth, Demand, Key Drivers, Forecast To 2033

The cloud tv market size 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 growth in the historic period can be attributed to rise of streaming services, adoption of smart tvs, growth in over-the-top (ott) content, internet penetration, expansion of content libraries.

The cloud tv market size 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 growth in the forecast period can be attributed to quality of service enhancement, integration with smart home devices, cloud dvr and on-demand services, mobile-centric viewing habits, diversification of content libraries. Major trends in the forecast period include subscription models and bundling, user interface and experience, partnerships and licensing deals, seamless device integration, monetization via advertising.

Market Overview -
The cloud TV refers to a software platform that offers advanced user interfaces and video-on-demand experiences. A cloud TV delivers user interface virtualization across layers of STBs by converting the UI to streaming and video. The primary objective of cloud TV services is to enable additional benefits such as faster setup, shorter time to value, and increased reliability and scalability.

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Increasing Internet Penetration Fuels Growth Of Cloud Tv Market
The increase in internet penetration is expected to propel the cloud TV market going forward. The use of digitalization with the help of the internet is expanding to create new business practices and meet shifting demand and market needs. The demand for cloud TV is increasing due to factors such as growing internet penetration, rising income levels, rising subscriptions to social media, improved communication needs, and others. During the COVID-19 pandemic, cloud TV usage and digitalization dramatically increased due to long quarantine periods and work-from-home scenarios. This increase in digitalization has increased productivity and efficiencies, with a focus on innovation and driving business growth. For instance, in July 2023, according to the Canadian Internet Use Survey 2022 by Statistics Canada, a Canada-based government agency for national statistics, internet usage among Canadians aged 15 and older increased from 92% in 2020 to 95% in 2022. Canadians 75 years of age and older experienced the biggest increase, going from 62% in 2020 to 72% in 2022. Therefore, the increase in internet penetration will drive the growth of the cloud TV market.

Competitive Landscape -
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., Charter Communications Inc.

Technological Advancements Transforming The Landscape Of The Cloud Tv Market
Technological advancement is a key trend gaining popularity in the cloud TV market. The increasing adoption of 5G technology has recently boosted the demand for cloud TV. Many companies are investing heavily in 5G technologies to improve the cloud TV experience and strengthen their market position. Cloud TVs have advanced streaming capabilities, allowing viewers to stream content easily to their laptops, smartphones, tablets, and other devices. For instance, in June 2022, Breezeline, a US-based cable company, launched the next-generation Breezeline Stream TV. This new cloud-based TV service incorporates live TV, DVR, on-demand, and popular streaming apps for devices both within and outside the home through a simple interface.

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Key Segments -

The cloud tv market covered in this report is segmented -
1) By Product Type: Private Cloud, Public cloud, Hybrid Cloud
2) By Organization Size: Small and Medium-sized Enterprises, Large Enterprises
3) By Application: Televions sets, Mobile phones, Tablets, Media boxes
4) By Verticals: Telecom companies, Media Organizations And Broadcasters

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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