- Cloud DVR is known as cloud digital video recorder, and is used to record videos in the form of digital signals to hard drives. Cloud DVR is used to record videos on centralized cloud storage, which can be accessed at the convenience of the customer or user. Regardless of time, the user can access the videos from the cloud storage.
- Cloud DVR is also used to store TV shows and videos in the service provider’s data center. Cloud DVR enables users store maximum content that are being broadcast at the same time.
- Streaming services appear to be the current ideal source of entertainment and are bound to benefit from the increased amount of time spent at home due to the quarantine scenario across the world. Due to COVID-19 outbreak, millions of people are being cooped up at home, which are taking advantage of streaming services on various cloud DVR. Whereas, people are using cloud DVR in order to relax and motivate themselves due to the increasingly strict coronavirus-related lockdowns and shutdowns in cities worldwide. This in turn is accelerating the growth of the cloud DVR market across the globe.
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Global Cloud DVR Market: Market Dynamics
- Governments across developed and developing countries are gradually marketing the installation of STBs or set top boxes, as it has become mandatory for customers to digitize the existing cable networks. This accelerates the growth of the cloud DVR market.
- One of the major factors driving the cloud DVR market is rising digitization of television networks across the world, which has considerably helped in the growth of the global market in recent years
- The other major factor accelerating the growth of the cloud DVR market worldwide is the cost efficiency of the services. The service provided is better, which is attracting many consumers to adopt the service. This in turn is expected to enhance the growth of the cloud DVR market during the forecast period. Additionally, the digitization of networks has encouraged service providers to offer a number of channels at low cost. This, in turn, has substantially helped in driving the popularity and adoption of cloud DVR across the world.
- Growing need and demand for better quality pictures is expected to fuel the growth of the cloud DVR market
North America to Account for Major Share of the Global Cloud DVR Market
- In terms of region, the global cloud DVR market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global cloud DVR market, due to diverse technological advancements and cutting-edge innovations in the U.S and Canada. This factor accelerates the growth of the cloud DVR market in the North America region.
- The Cloud DVR market in Asia Pacific is expected to hold significant share due to rising digitization in developing countries such as India and China. In addition, rising awareness among people about cloud DVR is expected to trigger the growth of the cloud DVR market across Asia Pacific.
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Global Cloud DVR Market: Competitive Landscape
Key Players Operating in the Global Cloud DVR Market
Companies operating in the cloud DVR market are increasingly investing in research and development to develop new and innovative techniques to provide cloud DVR software. The cloud DVR market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global cloud DVR market include:
- AT&T Inc.
- Cisco Systems Inc.
- CommScope, Inc.
- DISH Network L.L.C.
- Huawei Technologies Co., Ltd.
- LG Electronics.
- Nokia Corporation
- Telefonaktiebolaget LM Ericsson
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