Cloud TV Market to generate $11.5 billion by 2032, with a CAGR of 20.4% | Oracle, MatrixStream Technologies, Inc
The cloud TV services is anticipated to rise in upcoming years owing to rising preference to the OTT platforms by the consumers.
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WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 23, 2024 /EINPresswire.com/ — The global ๐๐ฅ๐จ๐ฎ๐ ๐๐ ๐๐๐ซ๐ค๐๐ญ size was valued at $1.8 billion in 2022, and is projected to reach $11.5 billion by 2032, growing at a CAGR of 20.4% from 2023 to 2032. The increase in adoption of high-speed internet globally has paved the way for seamless streaming, enabling users to access a vast array of content conveniently. As internet infrastructure continues to improve, more regions and demographics are gaining access to reliable broadband, expanding the potential user base for cloud TV services. Further, the proliferation of smart devices, such as smart TVs, smartphones, and tablets, has transformed how audiences consume content. This shift towards a more connected and digitally inclined consumer base has led to a surge in demand for flexible, on-the-go entertainment options provided by cloud TV platforms.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ – 280 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A07976
One of the primary catalysts is the extensive availability and assimilation of high-speed internet connectivity. In addition, the growth of intelligent devices, such as intelligent televisions, intelligent phones, and tablets, significantly promotes the the cloud television market growth. Further, consumers are increasingly adopting on-the-go entertainment options and the flexibility to access their preferred content across multiple devices at any given time, which stimulates the demand for cloud-based streaming services. Furthermore, cloud TV platforms provide cost-efficient alternatives, enabling users to select and remunerate for the content they desire, propelling a transformation in consumer behavior. Moreover, the intense competition among cloud TV providers propels innovation, with companies investing in the development of exclusive content, advanced features, and user-friendly interfaces to differentiate themselves in a crowded market.
By deployment type, the public cloud segment held the highest market share in 2022, accounting for more than half of the global cloud TV market revenue, and is estimated to maintain its leadership status throughout the forecast period, as increasing migration of cloud TV services to public cloud platforms, such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) was a key trend in the market which boosted the growth of the market. However, the private cloud segment is projected to manifest the highest CAGR of 22.8% from 2023 to 2032. This is attributed to increase in adoption of private cloud infrastructure by content providers offers a greater control and customization over their operations.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/cloud-tv-market/purchase-options
By device, the mobile phones segment acquired a major cloud TV market share in 2022. This is attributed to the rise of mobile-centric viewing, with users increasingly relying on their smartphones as primary devices for accessing cloud TV services. Further, streaming platforms have responded by optimizing their applications for mobile interfaces, ensuring a user-friendly experience with intuitive navigation and responsive design.
By application, the media and entertainment segment accounted for the largest share in 2022, contributing to nearly half of the global cloud TV market revenue, as the rise of user-generated content and interactive formats is transforming the way audiences engage with media. Streaming services are incorporating social features, interactive elements, and virtual watch parties to enhance the communal aspects of content consumption. However, the telecom segment is expected to portray the largest CAGR of 25.8% from 2023 to 2032, and is projected to maintain its lead position during the forecast period. This is owing to the fact the increasing convergence of telecom and media services, as telecom operators is increasingly offering bundled packages that include high-speed internet and cloud TV subscriptions.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐๐ฅ๐ญ๐ฎ๐ซ๐ ๐๐ง๐., ๐๐ซ๐๐๐ฅ๐, ๐๐ซ๐ข๐ ๐ก๐ญ๐๐จ๐ฏ๐ ๐๐ง๐., ๐๐๐๐ข๐๐ค๐ข๐ง๐, ๐๐ฆ๐๐ ๐ข ๐๐๐๐ข๐ ๐๐๐๐ฌ, ๐๐จ๐ฆ๐๐๐ฌ๐ญ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐๐ญ๐ซ๐ข๐ฑ๐๐ญ๐ซ๐๐๐ฆ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ, ๐๐ง๐., ๐๐ฆ๐ข๐ง๐จ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฎ๐ฏ๐ข, ๐๐๐๐๐ฌ๐ญ
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A07976
The rapid transition to remote work led to an increased focus on home office setups and technology upgrades. Consumers invested in high-speed internet, virtual collaboration tools, and home office equipment, altering spending patterns to accommodate these necessities. Further, with limited outdoor activities and entertainment options, there was a surge in online content consumption. Streaming services, including cloud TV platforms, experienced increased demand as consumers sought diverse and on-demand entertainment from the comfort of their homes. In addition, the uncertainty of the economic landscape prompted consumers to prioritize essential goods and necessities over non-essential or experiential spending. Budgets were adjusted to ensure the availability of essentials, impacting industries like travel, hospitality, and luxury goods. Thus, these factors promoted the growth of the cloud TV industry during the pandemic.
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global cloud TV market revenue, owing to the fact that streaming platforms in North America are heavily investing in original content production to differentiate themselves and attract subscribers. However, the Asia-Pacific region is expected to witness the fastest CAGR of 23.6% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the fact that region witnessed a substantial upswing in the uptake of streaming services, as an increasing number of consumers transitioned from conventional television to on-demand streaming platforms.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A07976
Region-wise, Asia-Pacific is expected to grow significantly in the cloud TV market during the forecast period. This is attributed to the fact that the Asia-Pacific region witnessed a substantial upswing in the uptake of streaming services, as an increasing number of consumers transitioned from conventional television to on-demand streaming platforms. In addition, the prevalence of smartphones and mobile devices in the Asia-Pacific region gave rise to an inclination toward mobile-first viewing.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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David Correa
Allied Market Research
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