Growing Adoption of Smart Devices to Boost Cloud TV Market
Cloud TV refers to the use of a cloud-based application which is capable of streaming TV channels, movies, or any broadcaster on air. They are easy and convenient to use as they can be accessed from any devices such as tablets, phones, media boxes, TV, and others. The cloud TV is a major breakthrough in the emerging video media landscape which is primarily spurred by the migration of the television to online platforms. Market Research Future (MRFR) has recently published an in-depth study on the global cloud TV market outlining the various factors that can impact the growth of the market over the forecast period of 2018-2023. In its report, MRFR has asserted that the cloud TV market is likely to reach a valuation of USD 3.25 Bn at a CAGR of 12.2% over the forecast period.
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The global cloud TV market has been segmented based on service, cloud deployment, streaming, and end user.
By services, the cloud TV market is segmented into SaaS, IaaS, and PaaS.
By cloud deployment, the cloud TV market has been segmented into private, public, and hybrid.
By streaming, the cloud TV market is segmented into live streaming and video-on-demand.
By end-user, the cloud TV market has been segmented into IT and telecommunication, media and entertainment, consumers, and others.
The cloud Tv market has been segmented into four key regions, namely North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America accounts for the most advantageous share of the Cloud Television (TV) Market and is likely to retain its dominance over the forecast period. The region is a leader in the adoption of latest technologies due to which the adoption of cloud TV has been considerably high in the region. In addition, the presence of key players in the region, including a growing number of cloud-TV focused start-ups is adding fuel to the growth of the market. Moreover, to cater to the augmenting demand for cloud TV services, numerous service providers and companies are venturing into the video streaming space. The trend of live video streaming and video-on-demand has also been gaining grounds in the region which has mirrored favorably on the growth of the market.
The APAC cloud TV market is anticipated to be the fastest growing market over the forecast period. Increasing penetration of internet services in the emerging economies of the region along with the prolific expansion of the telecom industry has increased the visibility as well as the accessibility of cloud services such as live video streaming and video-on-demand.
Altice USA (US), Brightcove, Inc. (US), Charter Communications (US), xfinity (US), PCCW Limited (Hong Kong), Liberty Global (UK), Liberty Global plc (UK), Phoenix Satellite Television Holdings Ltd. (Hong Kong), Ziggo B.V.(Netherlands), TalkTalk TV Entertainment Limited (UK), and Ooyala, Inc. (Australia) are the notable players in the cloud TV market.
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