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.

New York, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cloud TV Market by Deployment Type, Device Type, Organization Size, Vertical And Region - Global Forecast to 2026" - https://www.reportlinker.com/p06022165/?utm_source=GNW
It offers features such as live TV, video-on- demand, and web surfing.

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TV brands opt for OS that comes equipped with a built-in app store with all popular and licensed apps that can never go outdated on a television set.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.

Media companies and broadcasters to hold the largest market size during the forecast period
Media and broadcasting is a huge and diverse vertical.It encompasses video and audio content distribution, publishing, film, music, and social media, among others.

However, a common trend across all the segments of media and broadcasting is the rising importance of video content delivered over the internet.Advances in technology and consumer behavior are driving a transformation in the way video content is delivered to consumers.

The change involves a migration from traditional broadcasting models and media platforms toward digital distribution over the internet to a wide array of connected devices.This fundamental shift is triggering three major disruptions for broadcasters and media companies.

These disruptions are scalability, cost flexibility, and agility of cloud computing. With the digitalization of media and broadcasting mediums, the consumer appetite for gaining access to the right information or preferred channels is growing increasingly. The media and broadcasting vertical seeks to interact with its consumers to achieve deeper customer engagement. Various companies use cloud TV platforms to do live broadcasting of sports, which includes live voting for viewers. This ensures consumer engagement and retention. Using AI and analytics, the media and broadcasting companies show preferred content to their consumers, which, in turn, increases the viewing time and ad revenue. These factors help the cloud TV platforms to be consumed by media and broadcasting companies.

Cloud TV market in Asia Pacific to grow at the highest CAGR during the forecast period
APAC is projected to record the highest CAGR during the forecast period.The region comprises countries, such as China, Japan, India, and Singapore, which are expected to contribute significantly toward the growth of cloud TV solutions in APAC as individuals are increasingly consuming content in multiple devices such as smartphones, tablets, and TVs.

As per GSMA, by 2025, APAC would have 2.7 billion mobile internet users. This is expected to increase the adoption of cloud TV solutions.
The rapid growth of social media and gaming in APAC has increased the demand for cloud TV solutions.One of the major factors that is driving the market is the growing adoption of video streaming by individuals.

There has been an increasing demand for live streaming that enables the market players to come up with better products and services.The increasing demand is driving the growth of the market.

Developing regions have the highest growth potential, with the growing internet penetration and increasing number of smart devices configured to significantly shape the market during the forecast period.
Further, in-depth interviews were conducted with the Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the cloud TV market.
• By Company – Tier 1–5%, Tier 2–35%, and Tier 3–60%
• By Designation – C-Level–25%, Director Level–40%, and Others–35%
• By Region – North America–35%, Europe–25%, and APAC–20%, RoW – 20%

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.

Research Coverage
The cloud TV market revenue is primarily inferred from the cloud TV software platform given by the vendors.Cloud TV vendors in this market provide their solutions to its customers via a subscription model.

The market is also segmented on the basis of deployment types, device types, organization size, vertical, and region.

Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall cloud TV market.This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p06022165/?utm_source=GNW

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