The global Cloud TV Market 2020 is planning for preparing to surge its investment in funds as it seeks to hit a 12.2% hike target in the face of the economic slowdown caused by the Coronavirus pandemic. The figures are accumulated by Market Research Future that focuses on the study over the Cloud TV market and comes out to be gaining USD 3.25 billion by the end of 2023. The growth period is calculated to be between 2017 and 2023.
Cloud TV platform is capable of being installed on any device, whether it is mobile phones, television sets, media boxes, tablets, which make it a tool with ease of accessibility. This platform abolishes the necessitate for multiple service providers for cable and the internet, which is one of the crucial selling points obtainable by the OTT service providers. This has been considered as one of the prime factors liable for the market’s growth.
Companies such as Netflix and Amazon prime are using various AI platforms to refurbish the way the content is monetized. The upward adoption of IoT devices is further fueling the data generated. MRFR estimates that by 2021, mobile video is likely to drive 24% of the Internet video traffic. Back in 2018, Massive, a specialist UX vendor for the OTT industry, and Kaltura, a video technology provider served more than 27 million cloud TV users monthly. They collaborated to develop customer loyalty and conversion and reduce churn rates, as well as surge the adoption of cloud TV. All these factors have functioned in favour of global cloud TV market and made it gained more valuation during lockdown; where population used Netflix and Amazon prime the most. Such activity during COVID 19 situation has boosted the growth of the market considerably.
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The intensifying adoption of 5G technology and mounting advancement in wireless communication is likely to boost the market for cloud TV. Moreover, many Telecom vendors are investing in 5G technology to strengthen cloud TV experience. In the case of point, Nokia and AT&T are collaborating to progress 5G technology in the 39 GHz band, by fixed wireless 5G tests with AT&T’s Internet TV streaming service, DIRECTV NOW. These factors have also been considered to be a growth booster for the market throughout the forecast period.
Television manufacturing companies such as Toshiba Corporation and Koninklijke Philips N.V. have started offering cloud TV apps and solutions pre-installed on smart television sets. Relating to the demand for value addition in television sets, it is probable that over the coming years, several other television manufacturers will install cloud TV services in more smart television sets. Additionally, the growth of 3D content in television broadcasting is fueling the growth of cloud TV market.
This research report analyzes the global cloud TV market based on its segments such as services, cloud deployment, streaming, and end-user.
In terms of services segment, the market includes SaaS, IaaS, PaaS
In terms of cloud deployment segment, the market has included public, private, and hybrid.
In terms of streaming segment, the market includes live streaming and video-on-demand.
In terms of end-user segment, the market includes media and entertainment, IT and telecommunication, consumers, and others.
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Top Industry Players
The outstanding players in Cloud TV Market are Ziggo B.V.(Netherlands), PCCW Limited (Hong Kong), Phoenix Satellite Television Holdings Ltd. (Hong Kong), Liberty Global plc (UK), Charter Communications (US), Altice USA (US), TalkTalk TV Entertainment Limited (UK), Liberty Global (UK), Xfinity (US), Ooyala, Inc. (Australia) and Brightcove, Inc. (US).
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