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Cloud TV Market Size, Share, Growth, Trends, Analysis, Forecast To 2033
Cloud TV Market Size
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Cloud TV Market Report Structure
3. Cloud TV Market Trends And Strategies
4. Cloud TV Market - Macro Economic Scenario
5. Cloud TV Market Size And Growth
…..
27. Cloud TV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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