Pune, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Cloud TV Market Size Analysis:
“According to the S&S Insider report, the Cloud TV Market was valued at USD 1.98 billion in 2023. Forecasts indicate this market will expand to USD 12.24 billion by 2032, growing at a CAGR of 22.44% from 2024 to 2032.”
Growing demand for flexible, on-demand media consumption, combined with continuous advancement of the streaming technology, is creating a dynamic growth environment for the Cloud TV market. Facilitating High Quality, Low Latency Video. Cloud TV allows providers to deliver high-quality, low-latency video across devices, matching the modern consumer’s demand for seamless, interactive experiences. In 2023, over 70% of consumers worldwide stated that they watch streamed content on a daily basis as the world moves away from cable and into the cloud. The shift is driven partially by the prevalence of internet-connected devices and high-speed broadband service capable of carrying HD, buffer less streams.
This growth can be attributed to the various advancements in artificial intelligence (AI) and machine learning (ML) that are enabling Cloud TV platforms to provide personalized content, thereby increasing the user engagement by 45%. Another driving factor behind Cloud TV adoption is the growth of smart TVs and connected devices, which are putting streaming services directly on TV screens.
In addition, the scalability and cost-effectiveness of cloud solutions are key to broadening the streaming capacities of media organisations without significant capital expenses on infrastructure. The energy-efficient infrastructure of Cloud TV is also attractive to consumers who are trying to do a better job of being sustainable in their home which is a growing trend as people are becoming more conscious of the affect they have on the environment. The growth of Cloud TV industry is fueled by the increased need for personalized and flexible solutions in the form of subscriptions, and the market is likely to witness steady growth as it moves into the future.
Modern viewers expect personalized, interactive experiences, with features like tailored recommendations, which drive viewer engagement and retention. By offering these experiences, companies can better position themselves in the Cloud TV market. Additionally, the scalability of cloud-based solutions allows organizations of all sizes to deliver quality streaming services without large infrastructure investments, making it easier for small and medium enterprises (SMEs) to enter the market with lower initial costs.
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Major Players Analysis Listed in this Report are:
- Brightcove – Brightcove Video Cloud
- Akamai Technologies – Akamai Adaptive Media Delivery
- Alibaba Group – Alibaba Cloud Video Streaming
- Sony – PlayStation Vue
- Zee Entertainment – ZEE5
- Netflix – Netflix Streaming Service
- Amazon – Amazon Prime Video
- Google – YouTube TV
- Apple – Apple TV+
- Roku – Roku Streaming Platform
- Vimeo – Vimeo OTT
- Microsoft – Azure Media Services
- Hulu – Hulu with Live TV
- Disney – Disney+
- Samsung Electronics – Samsung Smart TV
- LG Electronics – LG WebOS
- Comcast – Xfinity Stream
- ViacomCBS – Paramount+
- WarnerMedia – HBO Max
- Sling TV – Sling TV Streaming Service
Cloud TV Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.98 billion |
| Market Size by 2032 | USD 12.24 Billion |
| CAGR | CAGR of 22.44% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | •Growing use of smartphones, tablets, and smart TVs for content access. •AI and ML-based platforms enable targeted recommendations, boosting user engagement. •Increased consumer preference for on-demand and OTT streaming content. |
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Segmentation Analysis
By Platform
In 2023, mobile devices emerged as the leading platform in the Cloud TV market, securing the largest revenue share as smartphones and tablets became the primary means of content consumption. Platforms like Hulu and Disney+ have tailored their services for mobile, ensuring seamless streaming experiences with the support of cloud infrastructure. This surge is driven by the expanding reach of mobile internet, growing demand for on-the-go entertainment, and innovations that enhance streaming quality, interactive features, and personalized recommendations.
Smart TVs are anticipated to experience the highest compound annual growth rate (CAGR) from 2024 to 2032. This growth is fueled by the integration of advanced features and internet connectivity in modern television models. Prominent brands such as Samsung, LG, and Roku are leveraging cloud technology to provide immersive viewing experiences, making it easier for users to access streaming platforms like Netflix and Amazon Prime Video. The segment's growth is driven by rising consumer demand for seamless content access on larger screens, improved user interfaces, and deeper integration with smart home ecosystems, driving continued innovation in the market.
Cloud TV Market Segmentation:
By Platform
- Smart TVs
- Mobile Devices
- Streaming Devices
- Others
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Solution
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
By Application
- Consumer Television
- Media & Entertainment
- Telecommunication
- Others
Regional Landscape
North America led the Cloud TV market in 2023, primarily due to the high demand for secure, scalable streaming solutions. Major industry players, including Bright cove and Akamai Technologies, are using advanced streaming technologies to empower broadcasters in providing smooth, device-agnostic video experiences. The region’s leadership is attributed to high internet penetration, extensive cloud infrastructure, and a strong focus on viewer engagement from leading service providers.
Asia-Pacific closely followed, driven by rapid digital transformation, rising internet accessibility, and increasing mobile device usage. Prominent companies like Alibaba Group, Sony, and Zee Entertainment are leveraging cloud platforms to meet diverse viewer needs and foster user engagement through personalized content. Japan, in particular, is anticipated to see robust growth from 2024 to 2032, with platforms like Netflix and Hulu Japan addressing the rising demand for high-quality, diverse content, including anime and international films.
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Recent Developments
January 2024 – Kaltura unveiled new enhancements to its Cloud TV and Streaming Platform, designed to better meet the needs of media customers and TV operators. The updates focus on improving scalability, performance, and ease of integration with existing TV services
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud TV Market Segmentation, by Application
8. Cloud TV Market Segmentation, By Deployment
9. Cloud TV Market Segmentation, By Platform
10. Cloud TV Market Segmentation, Enterprise Size
11. Cloud TV Market Segmentation, By Solution
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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