Northbrook, IL 60062 -- (SBWIRE) -- 08/11/2023 -- The global Cloud TV Market size is expected to grow from USD 1.2 billion in 2020 to USD 4.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period, according to research report by MarketsandMarkets™.

The cloud TV platform is used to deliver audio, video, rich media, and other media content over the internet. Cloud TV is delivered over end users' handheld devices, such as smartphones, tablets, and connected TVs, through a wireless connection over the internet. It offers features such as live TV, video-on- demand, and web surfing.

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Public deployment type to hold the largest market size during the forecast period

Public cloud refers to the cloud computing model in which resources are accessible in sharing to multiple users through the internet. It is a standard model that enables service providers to grant access to resources, such as applications and storage, available to the public over the internet. The public cloud can be offered as a pay-per-use model, depending upon end user requirements. The reasons for the high adoption of public cloud among cloud TV providers are ease of access and faster deployment. The public cloud deployment model offers various benefits to enterprises. These benefits include scalability, reliability, flexibility, and remote location access. It is highly preferred by OTT providers so that customers can watch content anywhere in the world.

Mobile phones and connected TVs segment to grow at the highest CAGR during the forecast period

The increasing inception of video streaming platforms, such as Netflix, Hotstar, and Amazon Prime, coupled with the growing internet penetration, is responsible for the rising smartphone penetration, leading to the growth of digital video consumption and digital video consumption. Entertainment apps have become the most penetrated app category among smartphone users after social networking, chatting, and eCommerce apps. The growing internet penetration is increasing the number of smartphones, contributing to the overall cloud TV market growth. Connected TVs are rapidly evolving globally, with providers, broadcasters, and manufacturers such as STC, Orbit Showtime Network (OSN), and Samsung offering consumers increased access to content through smart devices. These TVs connect to wireless systems, making it easy to find something to watch. However, to ensure rich and immersive digital entertainment experiences for new-age viewers, connected TV brands opt for OS that comes equipped with a built-in app store with all popular and licensed apps that can never go outdated on a television set. Customers can surf through popular services, such as Disney+ Hotstar, Zee5, SonyLIV, Voot, SunNxt, Netflix, Amazon Prime Video, Eros Now, Yupp TV, and Bloomberg Quint. Many TV manufacturers provide the screen sharing option, which lets users sync content from their mobile phones with their TV sets. Hence, the growing smartphone and connected TV penetration is expected to fuel the cloud TV market growth across the globe.

North America to account for the largest market size during the forecast period

North America is estimated to account for the highest market share as technology adoption in the region is high. It is one of the early users of cloud TV. The presence of several key players and startups are factors for the growth of cloud TV in the region. Additionally, the presence of various service providers and companies providing video streaming platforms such as live video streaming and video-on-demand is also a key factor for cloud TV growth in the region. As per GSMA, unique mobile subscribers will grow to 342.1 million by 2025, with 51% of the total 5G connections. The mobile internet penetration rate will also grow from 76% in 2019 to 80% by 2025, as per GSMA. Thus, these statistics infers that customers would shift to mobile devices and prefer to consume content on devices of various size. Cloud TV solutions are expected to use this situation for targeted advertising and to increase their revenues. The high penetration of smart devices, such as smart TVs and smartphones, demand for VOD content, and high rate of per-user payments are some of the major factors driving the region's cloud TV market growth. Most of the top global OTT vendors, such as Netflix and Amazon, are US-based, which provides an advantage to the regional market. The increasing percentage of viewing online video content with the rising revenue generated by ads and SVODs, among others, reflects the online video streaming growth in this region. However, these factors are also changing the region's entertainment landscape which forces organizations to look for innovative solutions, and cloud TV is a perfect fit to address the ever-growing demand from viewers. The US is expected to hold a higher market share due to the presence of major market players, such as Kaltura, BrightCove, Amino Technologies, MUVI, Intellimedia, and MatrixStream. These players are focusing on introducing next-generation cloud TV solutions to attract customers.

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The Cloud TV market comprises major solution providers, such as Kaltura (US), Brightcove (US), Amino Technologies (UK), Muvi (US), IntelliMedia Networks (US), Pontis Technologies (Argentina), Mware Solutions (Netherlands), MatrixStream Technologies (US), CSG Systems International Inc (US), Viaccess-Orca (France), Simplestream (UK), MediaKind (US), Comcast Technology Solutions (US), ActiveVideo (US), Synamedia (UK), Entertainment And Interactivity For Digital Tv (Brazil), Egla Communications (US), Minerva Networks (US), SeaChange International (US), Icareus (Finland), video.space (US), AVITENG (Turkey), Amagi Corporation (US), Metrological (Netherlands), and Streemfire (Austria). These players adopt new product developments as their key growth strategy.

The study includes an in-depth competitive analysis of these key players in the Cloud TV market with their company profiles, recent developments, and key market strategies.

Key Dynamic Factors For Cloud TV Market:

The Cloud TV Market was experiencing significant growth and evolution driven by several dynamic factors.. Here are some of the key dynamic factors that were influencing the Cloud TV Market:

Trends in cord-cutting and streaming services: The traditional cable and satellite TV business models have been impacted by the growth of over-the-top (OTT) streaming services. A change in the landscape of TV consumption is being brought about by consumers' increased preference for on-demand programming delivered through streaming services.

Internet penetration and bandwidth: The popularity of Cloud TV services has been accelerated by the growth of high-speed internet connectivity and the expansion of available capacity.

Originality and exclusivity of the material: Streaming platforms' production of original content has grown to be a key selling point for customers. Customers are being persuaded to subscribe to particular Cloud TV providers by exclusive programming, films and sporting events.

Mobile and Multiscreen Viewing: With the rise of smartphones, tablets, and smart TVs, multiscreen viewing experiences are becoming more and more popular. Cloud TV services must offer consistent and approachable experiences on a variety of devices.

Algorithms for Personalization and Recommendation: Cloud TV systems use AI and machine learning to provide suggestions for personalised content. User engagement and retention are improved when preferences can be catered to.

Global Expansion and Localization: Cloud TV providers have reached markets outside of their home countries, necessitating localization efforts to supply material in other languages and conform to regional preferences and laws.

Competition and Fragmentation: There are many firms vying for viewers' attention in the highly competitive Cloud TV market. The dispersion of content rights and exclusivity agreements are results of this rivalry.

Data Privacy and Security: As user data is collected by Cloud TV services for analytics and personalization, protecting data privacy and security has become a crucial concern, particularly with the implementation of rules like GDPR.

Advancements in technology: The incorporation of technologies like 4K and 8K video streaming, HDR (High Dynamic Range), and virtual reality (VR) within Cloud TV services improves the overall viewing experience and keeps people interested.

Regulatory Environment: The Cloud TV market is vulnerable to changing rules around content licencing, distribution, and international rights, which may have an impact on business plans and alliances.

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Competitive and Segmentation Analysis:

Intense competition and a complicated segmentation landscape reflecting the various interests and needs of customers in the quickly changing digital entertainment ecosystem define the Cloud TV industry. Offering a variety of Cloud TV services, many well-known businesses and new entrants are competing to cement their place in this competitive market. The competitive environment is shaped by elements like unique programming, user experience, and technical advancement.

Due to their extensive content libraries, in-house productions, and extensive global distribution, streaming juggernauts like Netflix, Amazon Prime Video, and Disney+ dominate the Cloud TV market. These market leaders concentrate on producing unique content that draws subscribers and increases interaction. They also make investments in cutting-edge streaming technologies to guarantee excellent user experiences across networks and devices. Newer players also enter the market, establishing specialty services targeted at particular genres, languages, or areas, as incumbents continue to improve their offers. This diversity drives innovation in content production and distribution techniques while fostering competition.

The segmentation of the Cloud TV market is complex, taking into account a number of variables that distinguish consumer preferences and usage patterns. Based on regional content licencing, linguistic preferences, and cultural sensitivities, the market is divided geographically. Some players localise their offers to appeal to particular audiences, making the experience more individualised. The segmentation of content also takes into account demographic variables like age, gender, and interests. For instance, different viewer groups are targeted by family-friendly programmes, sports programming, and leisure programmes.

Subscription-based business models also offer segmentation choices based on price tiers and associated features. Tiered subscriptions with varied levels of content access, ad-free experiences, and offline downloads are available with some Cloud TV services. Free tiers with advertising support are also common, luring people who are interested in saving money.

Segmenting content continues to be an important tactic. By classifying content into genres, streaming platforms enable consumers to discover shows and films that suit their tastes. AI-driven recommendation systems improve user engagement and retention by refining content suggestions. The production of original material, such as TV shows and films, is important for the Cloud TV business. Platforms spend a lot of money producing exclusive content that differentiates them from competitors and encourages people to subscribe.

In conclusion, the race to provide appealing content, seamless user experiences, and technological breakthroughs is what drives the competition of the Cloud TV market. Market segmentation by location, demographics, subscription methods, and content genres enables service providers to focus their products on certain target markets.

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