Global cloud TV market to reach $4.9 billion by 2028

The Global Cloud TV Market size is expected to reach $4.9 billion by 2028, rising at a market growth of 20.3% CAGR during the forecast period.

A software platform called Cloud TV virtualizes CPE or STB features, enabling pay-tv operators and other video streaming service providers to equip current and future-generation cable television and IPTV set-top boxes, as well as connected consumer electronics devices, with cutting-edge user interfaces and online video services like YouTube and Hulu.

In 2006, ICTV and Switched Media, a company that creates solutions for the customization of video streams, merged to become ActiveVideo. In 2008, the business adopted the moniker ActiveVideo. By virtualizing STB functionality, Cloud TV makes it possible for current and the next devices, including QAM STBs and “newer IP-capable devices, such as Charter’s new Worldbox,” Internet-connected TVs, and specialized streaming boxes, to offer Web-like guides and full online video experiences.

Multichannel News reports that ActiveVideo’s strategy aims to prevent that operational nightmare by requiring that it only be written once, in HTML5, and handled from the cloud, “rather than needing operators to create a different edition of the UI for each device, operating system, and rendering engine”. Screenplays continue by saying that the platform allows for the distribution of “secured OTT broadcasts as an integral component of channel offerings” without having to change the customers’ current gadgets.

Market Growth Factors
Demand for Improved On-Demand or Interactive Viewing User Experiences
The method that video material presented to consumers is evolving as a result of technological advancements and consumer behavior. With these developments, established media models and platforms are being replaced by digital distribution via the internet to a variety of linked devices. Three significant disruptions for broadcasters and telecommunications companies are being brought on by this fundamental transformation, and each one calls for cloud TV platforms’ scalability, cost flexibility, and agility.

5G Adoption Will Boost Demand for Cloud Tv
Rising 5G technology usage and expanding wireless communication developments are anticipated to accelerate market expansion. To improve the cloud TV experience, many telecom providers are making investments in the development of 5G technologies. For instance, Nokia and AT&T worked together to complete fixed wireless 5G tests using AT&T’s internet TV streaming service, DIRECTV NOW, to advance 5G technology in the 39 GHz band.

CT Bureau