- Cloud TV platform is a software platform that provide set top box or customer premises functionally, that helps Pay-tv operators and other video service providers to get advance user interface and online video experience such as Hulu and YouTube, to provide the next-generation IPTV and cable television set-up boxes and linked consumer electronics devices.
- Cloud TV refers to a feasible television option in which consumers can view whatever they like the most. Cloud technology, as it transmits to cloud TV, works just like different cloud services do (such as shared files, webmail, or online storage)
- In cloud TV, a collection of entertainment is made accessible in the “Cloud,” so consumers can access the digital assets from any part of the globe over an internet-linked device with a proper login gateway to a cloud-based user account.
- The cloud TV platform is used to provide video, media content, and audio over the internet. Cloud TV software is used on devices such as tablets, smartphones, and smart TVs, through a wireless connection over internet. It provides entertainment features such as web surfing, live TV, and video on demand.
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Cloud TV Market: Dynamics
Cloud TV Market: Key Drivers
- The increasing momentum of digitization and growing demand for viewing different content genres on tablets, smartphones, and connected TV are driving the need for cloud TV. Cloud TV platforms are developing as a viable option to cater to this need.
- Technological development and changing behavior of consumers is leading to movement from traditional broadcasting models and platforms to digital supply over the internet to a wide range of connected devices.
- The main problem in cloud TV is lack of high speed network infrastructure. Mobile phones and internet connectivity are an integral part of cloud TV.
- Priority of content safety in cloud TV is becoming a huge concern as cloud TV firms are providing various TV channels in the cloud. Piracy is a big worry and any company looking to launch cloud TV services need to be aware of its various challenges.
- The cloud TV market is estimated to expand at a rapid pace during the forecast period, due to advancements and rising adoption of 5G technology. Growing developments in wireless communication is expected to boost the market growth. Many telecom companies are investing in 5G technology to strengthen the cloud TV experience.
Impact of COVID-19 on the Global Cloud TV Market
- Most companies are adopting the work from home module during the pandemic period. Schools and colleges are temporarily closed and so many students are learning new skills and keeping themselves entertained. The COVID-19 pandemic has enhanced home video consumption to levels never seen before.
- Demand for cloud TV platform solutions is increasing during the COVID-19 lockdown situation and is also likely to expand at a moderate pace during the forecast period due to growing adoption of video streaming among consumers and increasing adoption of smart technologies.
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North America to Hold Major Share of the Global Cloud TV Market
- North America holds a prominent share of the global cloud TV market due to the early adoption of advanced technological and digital platform solutions and an increase in consumer spending on advance cloud TV solutions in North America.
- The cloud TV market in Asia Pacific is estimated to expand at a rapid pace during the forecast period due to a surge in investment by major players to provide business solutions across the region and also due to a rise in penetration of internet and rising number of smartphones which is likely to benefit the cloud TV market in Asia Pacific.
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