The 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. 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.
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.
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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.
The cloud TV market comprises major vendors, such as 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. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and partnerships, acquisitions, and collaborations, have been the most dominating strategies adopted by the major players from 2017 to 2020, which helped these organizations strengthen their offerings and broaden their customer base.
Kaltura (US) is among the leaders in the cloud TV market with a prominent geographic presence. It has adopted various organic and inorganic growth strategies and continues to enhance its expertise in cloud TV through technology acquisitions, collaborations, and new product developments and product enhancements. For instance, In November 2020, CommScope and Kaltura partnered to deliver cloud TV offerings to communication service providers and media companies worldwide. The integrated solutions would leverage the power of AWS to provide a streamlined cloud platform, from planning to delivery, deployment, and implementation, and ongoing growth for customers launching large-scale cloud TV services. AWS enables video providers to enhance operational flexibility and resilience, and take advantage of optimized resources and cost structures.
Brightcove (US) has a strong foothold in the cloud TV market. The company offers cloud TV solutions to cater to the needs of the rapidly changing business environment. In April 2019, Brightcove acquired the online video platform business of Ooyala, a provider of the cloud video technology, for USD 15 million in cash and stock. The strategic acquisition strengthens Brightcove’s position as a market leader in the online video industry. With this acquisition, Ooyala’s OVP customers joined the list of companies working with Brightcove.
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CSG Systems International (US) is also a huge player in cloud TV market. The company has improved its solutions periodically with new features that address the modern needs of the cloud TV market. CSG Systems International caters to many customers. For instance, In July 2020, CSG Systems International and Bell Canada, Canada’s largest communication company that provides advanced wireless, Internet, TV, and business services, announced a seven-year extension to their long-standing partnership. CSG Systems International would continue to support the residential customer service and billing for Bell Canada’s Fibe and Alt TV services. Bell Canada’s Fibe TV is an IP-based television service. It enables users to stream live TV on the screen of their choice. The company focuses on innovations and product developments to deliver differentiated products in the highly competitive cloud TV market.
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