In a recent published report, Kenneth Research has updated the market report for Cloud TV Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud TV Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market Synopsis
The GLOBAL Cloud TV Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
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As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years
Market Synopsis
Globally, the market for Cloud TV is expected to grow from USD 1.65 billion in 2017 to USD 3.25 billion by 2023, at a CAGR of 12.2 % during the forecast period.Cloud TV is a cloud-based application used for streaming TV channels, movies, or any show broadcaster on air. Cloud applications can be easily installed on devices such as tablets, phones, media boxes, TVs, and others. One of the major factors driving the cloud TV market is the elimination of cable operators and other video service providers. The cloud TV platform converts video, graphics, and interactive feeds into a single MPEG or HTML feed and delivers it to the set-top boxes on a unicast bandwidth. Cloud TV is fundamentally, a merger of web content and TV in a single stream that is played through set-top-boxes by utilizing IP connectivity.
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Various features provided by the cloud TV are high definition resolution, browsing on the Internet, email, online gaming, and support for social networking sites such as Facebook, Skype, Twitter, and others. Therefore, users can view different channels with high picture quality. Additionally, this software can customize the subscription plan, video, and content recording and supports meadia streaming.
The growing adoption of smart devices such as smartphones, tablets, smart TV and others are also a major factor driving their adoption, as these devices support cloud streaming. Additionally, the rising demand for high definition resolution is also fueling the market growth. Various companies such as Toshiba Corporation, Koninklijke Philips N.V., and others provide cloud TV apps and solutions pre-installed on their smart television sets. However, some factors challenging the cloud TV market growth are the lack of high-speed infrastructure in developing nations. Additionally, government regulations on allocating the bandwidth to provide internet services is also an issue due to various security concerns.
By cloud deployment, the market is segmented into private, public, and hybrid.By streaming, the market is segmented into live streaming and video-on-demandBy end-user, the market is segmented into IT and telecommunication, media and entertainment, consumers, and others.By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
The global market for Cloud TV is estimated to grow at a high rate during the forecast period from 2018 to 2023. The geographical analysis of cloud TV is studied for North America, Europe, Asia-Pacific, and the rest of the world.North America is estimated to account for the largest market share as the technology adoption in the region is high, and also North America is one of the early users of the cloud TV. Similarly, the presence of several key players and increasing startups are the factors for the growth of cloud TV in the region. Additionally, the presence of various service providers and companies providing video streaming platforms including live video streaming and video-on-demand.
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However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. One of the major factors that is driving the market is the growing adoption of video streaming by the individuals. There has been an increasing demand for live streaming that enables the market players to come up with better products and services which is driving the growth of the market. Developing infrastructure and reliable internet connectivity is also increasing the market for cloud TV.
Competitive Analysis
The Cloud TV enables the user to surf videos, movies, TV series or any other content through internet streaming without utilizing a set-top-box. In February 2018, Minerva Networks, an American video compression and broadcast company made its debut in cloud TV services. The company supports a variety of streaming services, such as Amazon Fire TV, Android TV, Roku TV, and Apple TV. Similarly in March 2018, an integrator of video, voice, and data solutions, Bulk TV & Internet partnered with Aerohive networks to deliver better connectivity to its customers.
Key players
The prominent players in Cloud TV Market are Phoenix Satellite Television Holdings Ltd. (Hong Kong), Ziggo B.V.(Netherlands), PCCW Limited (Hong Kong), Charter Communications (US), Liberty Global plc (UK), TalkTalk TV Entertainment Limited (UK), Altice USA (US), xfinity (US), Liberty Global (UK), Brightcove, Inc. (US), Ooyala, Inc. (Australia) and others.
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Intended Audience
Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
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