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The Global Video Streaming Market size is predicted to succeed in USD 186 billion by 2028 from an initial value of USD 42 billion in 2019, registering a CAGR of 20.4% from 2017 to 2028. Rising technological advancements like implementation of block-chain technology in video streaming and use of AI (AI) to enhance content quality are expected to spice up market demand over the forecast period. Furthermore, growing adoption of cloud-based streaming solutions to extend the reach is directly influencing market growth. This trend is observed in numerous parts of North America and Asia Pacific. Factors behind the expansion of those regional markets include rapid digitalization, increasing use of mobiles and tablets, and growing popularity of online viewing.
Globally, the rising demand for on-demand video and extensive growth of online video is key drivers of the market. Moreover, increasing demand for high-speed internet connectivity acts as a plus for the market. The growing acceptance of smartphones together with an in-depth range of high-speed internet technologies like 3G, 4G, and LTE has substantially led to the trend of online broadcasts. Additionally, the growing demand for devices which will support digital media helps consumers’ access media content anywhere within the world.
The market is often categorized, supported stream type, into live and non-linear video. The power to look at content via the web and in real-time are often defined as live streaming. This segment is predicted to portray the very best growth over the forecast period. supported solution, the market has been segmented into internet protocol TV, over-the-top (OTT), and pay-TV. OTT-based solutions deliver film and television content through the web without the necessity to subscribe a standard cable or pay-TV services.
In 2019, smartphones and tablets held the most important share supported platform, majorly thanks to easy accessibility of the web, increasing income, better standard of living, and changing lifestyle. The smart TV segment, on the opposite hand, is predicted to register healthy growth over the forecast period. Based on revenue model, the subscription segment, including providers like Netflix and Amazon Prime, held the most important share and is predicted to register the fastest CAGR over the forecast period. This will be attributed to big variety of content and availability of varied subscription plans.
Key Insights of Video Streaming Market:
The Video Streaming market segmentation is based on Solution, Platform, Service, and Region.
Solution Outlook:
Based on solution, the market has been segmented into internet protocol TV, over-the-top (OTT), and pay-TV. In 2019, the pay-TV segment held a notable revenue share as its demand has grown in countries like China, India, Mexico, and Brazil. However, customers are shifting their preference to OTT services thanks to increased programming expenses. The growing availability of unlimited wireless data plans and public Wi-Fi has boosted the expansion of OTT service providers. for example, HBO now's the web streaming platform launched by Home Box Office, Inc., which has enabled a web view of HBO shows without a cable subscription. The OTT-based solution delivers film and television content through the web without the necessity for users to subscribe a standard cable or pay-TV services. The segment is predicted to witness noticeable growth over the forecast period due to rising demand for improved automation of business processes and therefore the availability of broadband infrastructure. Emerging trends in OTT, like hybrid monetization models, rising demand for digital original content, and content fragmentation thanks to intensive competition, are expected to contribute to the expansion of OTT streaming solutions.
Platform Outlook:
Based on platform, the market has been segmented into gaming consoles, laptops and desktops, smartphones and tablets, and smart TV. In 2019, smartphones and tablets held the most important share, majorly thanks to easy accessibility of the web, increasing income, better standard of living, and changing lifestyle. The smart TV segment is additionally expected to register healthy growth over the forecast period. Since smart TV offers a comprehensive option of TV channels alongside video streaming services like Netflix, a clear growth is predicted within the coming years. Mobile/tablet streaming allows trouble-free live streaming due to the abundance of reliable internet services. Thanks to ease in remote access and portability, smartphones and tablets are more likely to be preferred for online content watching. However, the supply of several video streaming applications for television has drawn the eye toward the smart TV segment, including YouTube TV, Hulu, DirectTV Now, PlayStation Vue, and Sling TV. Moreover, applications for organizing TV content, like PLEX, are anticipated to spice up the expansion of this segment as they supply the power to play any compatible media content on a sensible TV.
Service Outlook:
Based on service, the video streaming market has been segmented into consulting, managed services, and training and support. The managed services segment is predicted to register a gentle CAGR within the forthcoming years. Managed services help combine broadcast and OTT solutions into one online video management solution to supply viewers a customized experience. This advantage is projected to bode well for segment growth. Video managed services deliver highly evolved media services to viewers, helping them achieve better quality of content with higher monetization. These services include localization and access services, digital packaging and fulfillment, creative video services, and compliance and metadata services. It also combines intelligent content distribution capabilities for third-party and direct OTT streaming service providers. Since it helps manage and monetize a comprehensive OTT platform and streaming-related service, managed services are anticipated to grow at a healthy rate within the near future.
Regional Outlook:
North America accounted for the most important market share, majorly thanks to rapid climb of cloud-based streaming services. Meanwhile, Europe also held a notable market share and is predicted to witness steady growth due to an outsized population base watching online content. On the opposite hand, Asia Pacific is projected to demonstrate the fastest growth over the forecast period, attributed to increasing use of mobiles and tablets, rapid technological advancements, and recognition of online streaming. Over-the-top (OTT) solutions have transformed the way content is consumed among viewers in Asia Pacific. Incumbent telecommunication providers and multichannel operators during this region have also proactively pursued technological innovation and advancement using video streaming for marketing techniques. With the fastest growing broadband internet population, operators in Southeast Asia have expanded monetization opportunities by offering video streaming multichannel services alongside fixed-mobile packages. These initiatives taken by service providers are contributing to plug growth in Asia Pacific.
Competitive Landscape
Key industry participants include Akamai Technologies; Amazon Web Services, Inc.; Apple Inc.; Cisco Systems, Inc.; Google; Kaltura, Inc.; Netflix; International Business Machine Corporation (IBM Cloud Video); Wowza Media Systems, LLC; AT&T Intellectual Property; and Hulu. Vendors within the market are that specialize in increasing their customer base to realize a competitive edge up the market by undertaking several strategic initiatives like collaborations, acquisitions and mergers, and partnerships. For example, in July 2019, Hive Streaming, a Sweden-based enterprise video distribution company, partnered with U.S. based software company, Kaltura, Inc., to supply joint customers with premium video delivery capabilities. Under this partnership, the info visualization solutions of Hive Streaming are joined with the broad network optimization offering of Kaltura, including Kaltura eCDN, along side additional network optimization and video delivery solutions. This collaboration has enabled high-quality live and non-linear video content.
This report also includes the profiles of key Video Streaming market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.
Key Developments in video streaming Market:
What Does This Report Provide?
This report provides a detailed understanding of the global Video Streaming market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
Market Segmentation:
By Solution
By Platform
By Service
By Region:
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