From GlobeNewswire: 2024-11-11 09:00:00

The Cloud TV market was valued at USD 1.98 billion in 2023 and is forecasted to reach USD 12.24 billion by 2032, growing at a CAGR of 22.44%. Factors driving this growth include demand for personalized content, AI and ML advancements, and the shift towards on-demand media consumption.

Cloud TV allows for high-quality, low-latency video streaming across devices, catering to the modern consumer’s desire for seamless, interactive experiences. Over 70% of consumers globally watch streamed content daily, moving away from traditional cable services. The industry’s growth is also fueled by smart TVs, connected devices, and energy-efficient, sustainable solutions.

Companies offering personalized, interactive experiences in the Cloud TV market can drive viewer engagement and retention. Cloud-based solutions enable organizations of all sizes to deliver quality streaming services without significant infrastructure investments. Major players in the market include Brightcove, Amazon, Netflix, and Google, providing a variety of streaming platforms and services.

Mobile devices dominated the Cloud TV market in 2023, with smartphones and tablets being the primary means of content consumption. Smart TVs are expected to see the highest growth rate, driven by advanced features, internet connectivity, and seamless access to streaming platforms. The market is segmented by platform, deployment, organization size, solution, and application, catering to various consumer needs and preferences.

North America led the Cloud TV market in 2023, supported by high demand for secure streaming solutions and advanced technologies. Asia-Pacific closely followed, fueled by digital transformation, increased internet accessibility, and growing mobile device usage. The market is expected to witness steady growth as it continues to evolve and meet the demands of modern viewers. Prominent companies like Alibaba Group, Sony, and Zee Entertainment are using cloud platforms to cater to viewer needs and enhance user engagement with personalized content. Japan is expected to experience significant growth, with platforms like Netflix and Hulu Japan meeting the demand for diverse content, including anime and international films.

In January 2024, Kaltura introduced enhancements to its Cloud TV and Streaming Platform to better serve media customers and TV operators. The updates focus on scalability, performance, and integration with existing TV services.

The Cloud TV Market Analysis & Outlook 2024-2032 covers key points like market dynamics, trends, competitive landscape, and regional analysis. It also includes sections on market segmentation, company profiles, best practices, and a conclusion.

SNS Insider offers consulting services like Go-To-Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking to help businesses navigate the Cloud TV market effectively. For more information or customization, contact [email protected].



Read more at GlobeNewswire: Cloud TV Market Set to Reach USD 12.24 Billion by 2032|