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Cloud TV is a cloud-based application used for streaming TV channels, movies, and any other live entertainment. Cloud apps can be installed on a variety of devices, including tablets, phones, media boxes, and televisions. The decline in number of cable operators and other video service providers is one of the elements driving the cloud TV industry.
The worldwide cloud TV industry is expected to benefit from urban populations’ living standards. Furthermore, throughout the research period, the market is expected to rise due to the increasing adoption of cloud-based technologies. Additionally, the advantages of cloud technology over traditional broadcasting formats and platforms, such as the simplicity with which other devices may be linked, are expected to drive market expansion throughout the projection period.
Furthermore, cloud TV's improved scalability, cost flexibility, and agility would provide sufficient development prospects for market players. The market is expected to develop faster as online video consumption increases.
Moreover, the introduction of 5G is expected to provide attractive market growth opportunities in coming years. Furthermore, in order to expand their services, numerous telecommunication companies are investing in the growth of 5G technology. For instance, Nokia and AT&T have launched fixed wireless 5G testing with DIRECTV NOW, AT&T's internet TV streaming service, to develop 5G technology in the 39 GHz band.
As a result, all of these factors will contribute to the global cloud TV market growth throughout the forecast period. However, poor connection in rural areas may stymie the worldwide cloud TV market's growth.
The impact of COVID-19 on the cloud TV market has been beneficial. During the pandemic, most organizations are using the work-from-home module. Since schools and universities are closed for the time being, many students are learning new skills and staying occupied. The COVID-19 pandemic has boosted home video consumption to a high level. Adoption of cloud TV platform solutions is rising during the COVID-19 period and is expected to grow at a moderate rate during the forecast period, owing to rising consumer use of video streaming and smart technology adoption.
The report will cover following key insights:
Infrastructure as a Service (IaaS) is expected to capture significant market share during the forecast period. The IaaS cloud architecture has an evident advantage of being able to scale quickly in response to the company's rising business needs. IaaS providers deliver the most sophisticated storage and networking technology to meet the demands of their clients.
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North America is likely to dominate other regions in terms of revenue contribution to the worldwide cloud TV market. The government of the region is heavily investing in the deployment of 5G technology. Additionally, increased consumer spending on advanced cloud TV solutions will fuel market growth throughout the forecast period. Furthermore, the strong presence of local and international players in the region is expected to drive market growth.
Asia Pacific is expected to grow at a much faster rate than the rest of the world throughout the forecast period. High consumer acceptance of video streaming and rising internet penetration in the region is a driving factor in the market growth. Furthermore, rising smartphone use among consumers is likely to boost revenue growth in the Asia Pacific market.
The report will include the profiles of key players such as Kaltura Inc., Amino Technologies PLC, IntelliMedia Networks Inc., ActiveVideo Networks, Inc., Minerva Networks, Matrix Stream Technologies Inc., CSG Systems International Inc., Brightcove, SimpleStream Limited, and Amangi Corporation.
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