Cloud TV Market Poised for Significant Growth, Projected to Reach USD 12.24 Billion by 2032

The Cloud TV Market is experiencing rapid growth, driven by increasing demand for on-demand streaming and cloud-based solutions.

AUSTIN, TX, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- The Cloud TV Market was valued at USD 1.98 Billion in 2023 and is projected to reach USD 12.24 Billion by 2032, growing at a compound annual growth rate (CAGR) of 7.2% from 22.44 to 2032.

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Keyplayers:
Brightcove – Brightcove Video Cloud
Akamai Technologies – Akamai Adaptive Media Delivery
Alibaba Group – Alibaba Cloud Video Streaming
Sony – PlayStation Vue
Zee Entertainment – ZEE5
Netflix – Netflix Streaming Service
Amazon – Amazon Prime Video
Google – YouTube TV
Apple – Apple TV+
Roku – Roku Streaming Platform
Vimeo – Vimeo OTT
Microsoft – Azure Media Services
Hulu – Hulu with Live TV
Disney – Disney+
Samsung Electronics – Samsung Smart TV
LG Electronics – LG WebOS
Comcast – Xfinity Stream
ViacomCBS – Paramount+
WarnerMedia – HBO Max
Sling TV – Sling TV Streaming Service

The Rapid Growth of Cloud TV Market A Shift to Scalable Cost Effective Streaming Solutions
The Cloud TV Market is expanding rapidly because of the rising demand for on-demand streaming and OTT offerings. Cloud infrastructure enables content providers to efficiently handle and distribute video services, meeting the demand for scalable, adaptable, and economical broadcasting options. With global OTT video subscribers expected to surpass 1.7 billion by 2025, the transition to cloud-based TV solutions is evident, as 5G and fast internet enhance high-definition streaming with few disturbances. Artificial intelligence and machine learning are facilitating personalized content distribution, improving user engagement and retention, as demonstrated by services such as Netflix and Amazon Prime Video.

The growth of Cloud TV has been fueled by additional multi-device streaming and smart TV adoption, which will reach an estimated 80% of U.S. households by 2024. Cloud TV helps broadcasters access wider audiences through smartphones, tablets, and smart TVs. Moreover, the desire for cost-efficient solutions leads smaller broadcasters to shift to cloud-based systems, saving them on hardware costs, revolutionizing the industry through scalable, flexible infrastructure.

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Public Cloud Leads Market While Private Cloud Sees Fastest Growth in Media and Streaming Solutions
The public cloud segment led the market in 2023, accounting for a substantial share of revenue. Major players such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform offer best-in-class solutions to television providers and streaming services, allowing them to process, store, and distribute media efficiently. The growth of this segment is driven by its scalability, global reach, robust security, and advanced analytics, enhancing content delivery and viewer engagement across regions.

The private cloud segment is growing the fastest and is expected to register the fastest CAGR during the forecast period. Increasing demand for enhanced control, security, and regulatory compliance will drive private cloud solutions from providers such as IBM Cloud and Oracle Cloud Infrastructure to offer tailored services for media processing and streaming, ensuring seamless and reliable media experiences globally.

Mobile Devices Lead the Market While Smart TVs See Fastest Growth in Streaming Solutions
In 2023, Mobile Devices dominated the market and claimed the highest share of revenue. With an increased majority of content being consumed through smartphones and tablets, services like Hulu and Disney+ optimized their services for mobile screens through improved cloud infrastructure for seamless streaming. This segment is growing due to increased access to mobile internet, a rising demand for on-the-go entertainment, and improvements in mobile technology that support high-quality streaming, interactive content, and personalized recommendations.

Smart TVs are expected to grow the fastest between 2024 and 2032 with the help of internet connectivity coupled with advanced features in modern TVs. These include Samsung Smart TV, LG WebOS, and Roku. Brands use the cloud technology to provide their consumers with an immersive view while offering services like Netflix and Amazon Prime Video. Consumer demand for seamless content access on larger screens while being integrated into a smart home ecosystem continues to drive innovation within this segment.

North America Leads Cloud TV Market, While Asia Pacific Sees Significant Growth in 2023
In 2023, North America held the highest market share in terms of revenue for cloud TV at 38.7%, primarily driven by increasing demand for scalable, secure, and innovative media delivery solutions. Brightcove and Akamai Technologies, among other top companies, are using advanced streaming technologies to empower broadcasters and content providers to deliver smooth, high-quality video across different devices while also improving viewer experiences and optimizing monetization strategies.

Asia Pacific accounted for a significant market share in 2023, mainly driven by fast-paced digital transformation and increased internet penetration. Here, leading companies like Alibaba Group, Sony, and Zee Entertainment are embracing cloud platforms to cater to different content requirements, enhance user interaction through customized experience, and tap into the increasingly popular trend of online video viewing.

Key Developments in Cloud TV Market
March 2024 – ActiveVideo launched an interactive TV streaming solution designed to boost user engagement with high-quality video content, leveraging 5G and enhanced internet infrastructure for seamless delivery.
February 2024 – Synamedia unveiled a new Cloud TV platform incorporating AI and machine learning to deliver personalized content recommendations, enhancing both user experience and content monetization.

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