Press release
Global Cloud TV Market Share to Reach $6 Billion by 2029, Growing at 18% CAGR
Cloud TV Market Share
The proliferation of internet access is projected to stimulate growth within the cloud TV industry. Business practices are evolving and addressing fluctuating market demands and needs through the increased utilization of internet-enabled digitalization. There is an escalating demand for cloud TV attributed to multiplying factors such as burgeoning internet access, increasing income tiers, heightened social media subscriptions, enhanced communication needs, and more. Amidst the COVID-19 pandemic, there was a dramatic surge in cloud TV use and digitalization, driven by extended periods of quarantine and work-from-home circumstances. This digitalization surge has boosted productivity and efficiency while promoting innovation and advancing business development. For instance, Oberlo, a Berlin-based marketplace allowing entrepreneurs to identify online selling products, reported a near-doubling in the number of internet users worldwide year-on-year in July 2024. Furthermore, the European Commission in Belgium stated in April 2024 that of those aged between 16-74 years surveyed, 92% had used the internet in the past year, with 70% making purchases of goods or services. This showed a 2% rise from 2022's figures. Therefore, the cloud gaming market's growth is being fuelled by the deepening penetration of the internet.
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What is the projected compound annual growth rate (CAGR) of the cloud tv market from 2025 to 2034, and what factors influence it?
The size of the cloud TV market has seen a quick expansion in the past few years. The market is expected to rise from $2.77 billion in 2024 to hit $3.14 billion come 2025, representing a compound annual growth rate (CAGR) of 13.3%. The swell during the historic phase is linked to the surge in streaming services, the widespread adoption of smart TVs, an increase in over-the-top (OTT) content, internet accessibility, and the growth of content libraries.
In the coming years, the cloud TV market is anticipated to experience a rapid expansion. It is projected to reach a market value of $6.03 billion by 2029 with a compound annual growth rate (CAGR) of 17.7%. The anticipated growth during the forecast timeframe can be ascribed to factors such as improvements in service quality, integration with smart home appliances, cloud DVR and on-demand services, mobile-focused viewing practices, and a broad range of content libraries. Key trends during the forecast period involve subscription models and packages, user interface and experiences, agreements and licensing transactions, seamless device integration, and revenue generation through advertising.
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How are the latest trends influencing the growth of the cloud tv market?
The evolving technology is a significant trend that has started to gain popularity in the cloud TV market. The surge in 5G technology adoption has led to an increase in the demand for cloud TV recently. Numerous companies are investing generously in 5G technologies to enhance the cloud TV watching experience and to solidify their market standing. Cloud TVs are equipped with excellent streaming abilities, making it easy for users to stream content to various devices, such as laptops, smartphones, tablets, and others. For example, in June 2022, Breezeline, an American cable firm, introduced the next-generation Breezeline Stream TV. This new cloud-based TV service merges live TV, DVR, on-demand, and popular streaming apps for devices both inside and outside the home through an easy-to-use interface.
What are the major segments of the cloud tv market and their role in driving growth?
The cloud TV market size has grown rapidly in recent years. It will grow from $2.77 billion in 2024 to $3.14 billion in 2025 at a compound annual growth rate (CAGR) of 13.3%. 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.
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Which regions are key players in the growth of the cloud tv market?
North America was the largest region in the cloud TV market share in 2024. The regions covered in the cloud TV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the cloud tv market?
Major companies operating in the cloud TV market 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.
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What Is Covered In The Cloud TV Global Market Report?
• Market Size Forecast: Examine the cloud tv market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cloud tv market for a structured understanding.
• Key Players Overview: Analyze major players in the cloud tv market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cloud tv market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cloud tv market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cloud tv market.
• Industry Challenges: Identify potential risks and obstacles affecting the cloud tv market.
• Competitive Landscape: Review strategic developments in the cloud tv market, including expansions, agreements, and new product launches.
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