Globally, the market for Cloud TV is expected to grow from USD 1.65 billion in 2017 to USD 3.25 billion by 2023, at a CAGR of 12.2 % during the forecast period.
Cloud TV is a cloud-based application used for streaming TV channels, movies, or any show broadcaster on air. Cloud applications can be easily installed on devices such as tablets, phones, media boxes, TVs, and others. One of the major factors driving the cloud TV market is the elimination of cable operators and other video service providers. The cloud TV platform converts video, graphics, and interactive feeds into a single MPEG or HTML feed and delivers it to the set-top boxes on a unicast bandwidth. Cloud TV is fundamentally, a merger of web content and TV in a single stream that is played through set-top-boxes by utilizing IP connectivity. Various features provided by the cloud TV are high definition resolution, browsing on the Internet, email, online gaming, and support for social networking sites such as Facebook, Skype, Twitter, and others. Therefore, users can view different channels with high picture quality. Additionally, this software can customize the subscription plan, video, and content recording and supports meadia streaming.
The growing adoption of smart devices such as smartphones, tablets, smart TV and others are also a major factor driving their adoption, as these devices support cloud streaming. Additionally, the rising demand for high definition resolution is also fueling the market growth. Various companies such as Toshiba Corporation, Koninklijke Philips N.V., and others provide cloud TV apps and solutions pre-installed on their smart television sets. However, some factors challenging the cloud TV market growth are the lack of high-speed infrastructure in developing nations. Additionally, government regulations on allocating the bandwidth to provide internet services is also an issue due to various security concerns.
Cloud TV Market Size (USD Billion)
Source: MRFR Analysis
By services, the market is segmented into SaaS, IaaS, PaaS
By cloud deployment, the market is segmented into private, public, and hybrid.
By streaming, the market is segmented into live streaming and video-on-demand
By end-user, the market is segmented into IT and telecommunication, media and entertainment, consumers, and others
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for Cloud TV is estimated to grow at a high rate during the forecast period from 2018 to 2023. The geographical analysis of cloud TV is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is estimated to account for the largest market share as the technology adoption in the region is high, and also North America is one of the early users of the cloud TV. Similarly, the presence of several key players and increasing startups are the factors for the growth of cloud TV in the region. Additionally, the presence of various service providers and companies providing video streaming platforms including live video streaming and video-on-demand.
However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. One of the major factors that is driving the market is the growing adoption of video streaming by the individuals. There has been an increasing demand for live streaming that enables the market players to come up with better products and services which is driving the growth of the market. Developing infrastructure and reliable internet connectivity is also increasing the market for cloud TV.
The Cloud TV enables the user to surf videos, movies, TV series or any other content through internet streaming without utilizing a set-top-box. In February 2018, Minerva Networks, an American video compression and broadcast company made its debut in cloud TV services. The company supports a variety of streaming services, such as Amazon Fire TV, Android TV, Roku TV, and Apple TV. Similarly in March 2018, an integrator of video, voice, and data solutions, Bulk TV & Internet partnered with Aerohive networks to deliver better connectivity to its customers.
The prominent players in Cloud TV Market are Phoenix Satellite Television Holdings Ltd. (Hong Kong), Ziggo B.V.(Netherlands), PCCW Limited (Hong Kong), Charter Communications (US), Liberty Global plc (UK), TalkTalk TV Entertainment Limited (UK), Altice USA (US), xfinity (US), Liberty Global (UK), Brightcove, Inc. (US), Ooyala, Inc. (Australia) and others.
Frequently Asked Questions (FAQ) :
Charter Communications (US), TalkTalk TV Entertainment Limited (UK), PCCW Limited (Hong Kong), and Liberty Global plc (UK) are impacting the overall market growth.
A 12% CAGR is expected to guide the progress of the market in the forecast period.
The presence of a massive user base in the North American region is estimated to push the market’s progress.
The blend of web content and TV in a solo stream is estimated to create favorable traction in the market.
The advance in the functions of smart devices such as tablets, smart TV, and smartphones is appealing to the growth momentum in the market.