Artificial intelligence and blockchain technology have brought great changes to the video streaming market
New York, US, May 12, 2022 (GLOBE NEWSWIRE) — Video Streaming Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Video Streaming Market” information by Model, by Platform, by Deployment, by Type and Region – Forecast to 2030” market size to reach USD 972.31 billion, growing at a compound annual growth rate of 18.1% by 2030.
In the past, the market witnessed trends such as a steep rise in IoT video streaming, in-home media consumption due to COVID-19, and mobile use as the most preferred channel. The onset of COVID 19 pandemic and lockdown mandates imposed to control the spread of coronavirus impacted the market growth favorably, allowing ample time for people, which enabled innovative video streaming technology to witness rising numbers of streamers.
Dominant Key Players on Video Streaming Market Covered are:
- Adobe Inc. (US)
- Netflix Inc. (US)
- Google LLC (US)
- Microsoft Corporation (US)
- Amazon Web Services (US)
- Walt Disney Company (Hulu US)
- Cisco Systems Inc. (US)
- Apple Inc. (US)
- Akamai Technologies Inc. (US)
- IBM Corporation (US)
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Market USP Exclusively Encompassed:
The demand for live and on-demand video content and smartphone use to watch various TV shows, movies, live sports, and events increased significantly. Trends that the market will witness in 2022 and ahead are soaring numbers of OTT platforms & services, augmenting OTT content, extended business applications, increasing live streaming on the social media platforms, and the rise in music streaming.
Simultaneously, increasing numbers of new market entrants and video streaming service providers delivering high-quality content with flexible payment models were seen during this period. Also, there was a significant increase in the number of mobile applications and professional digital learning sectors that influenced market dynamics. All these factors contributed to the market growth substantially.
Many notable sports companies are launching free video streaming platforms to show live matches and games, as well as the archive of World Cup footage and documentaries. Some of them offer subscription-based services, while others integrate their platforms with Netflix and Amazon Prime.
The latest digital marketing trends reflect the increasing role of video streaming in the corporate world, allowing businesses to grow rapidly. Also, video accessibility plays a causal role in the increased popularity of streaming. Improvement in video quality increases the popularity of streaming among businesses and organizations.
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Segmentation of Market Covered in the Research:
The video streaming market forecast is segmented into type, deployment, platform, component, model, and regions. The type segment is sub-segmented into on-demand video streaming and live video streaming. The deployment segment is sub-segmented into cloud and on-premise.
The platform segment is sub-segmented into smartphones, laptops & desktops, smart TVs, gaming consoles, and others. The component segment is sub-segmented into software solutions (video analytics solution, video management solution, video security solution, and others) and services (professional and managed services).
The model segment is sub-segmented into subscription video on demand, advertisement-supported video on demand, hybrid, transactional video on demand, and others. By regions, the report is segmented into the MEA, Asia Pacific, Americas, Europe, and rest-of-the-world.
The Asia Pacific region dominates the global video streaming market. Factors such as advanced technology development, increasing urbanization, and growing educational sectors in China and India boost the market demand in the region. Furthermore, the rising disposable income propels the growth of the video streaming market, allowing the penetration of connectivity and connected devices.
North America stands second in the global video streaming market. Factors such as the strong adoption of video streaming in recent years and the presence of key market players, such as Netflix Inc. and Amazon Web Services, drive the regional market growth.
Besides, well-established technology development centers in the region drive the growth of the market. Moreover, increasing collaborations between government, network companies, and institutional partners boost the market growth in the region.
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Advances in technologies facilitating e-learning, streaming, and more throughout the day bolster the market size. Furthermore, the proliferation of smartphones and other connected devices and high-speed internet connectivity escalate market shares. Rising video streaming activities benefit the growth of the market.
With the advancements in computing technology and the popularity of OTT, the number of viewers is increasing, too, allowing the video streaming market to witness a high growth rate. Additionally, upgrades in IT security & cloud-based solutions, alongside the rapid digitization worldwide, provide impetus to the market growth commutatively.
The growth in the live and on-demand video content and increasing smartphone use to watch various TV shows, movies, live sports, and events boost the market size. Increasing numbers of mobile applications and professional digital learning sectors influence the market growth.
Besides, increasing numbers of new market entrants and video streaming service providers delivering high-quality content with flexible payment models drive the growth of the market. On the other hand, new or reformed regulations in many countries to restrict certain video sites and cap internet users’ daily monetary spending on the digital tipping impact the market growth adversely.
The video streaming market would witness various strategic approaches, such as collaboration, expansion, mergers & acquisitions, and advanced technologies integration. Major industry players make strategic investments in driving research and development activities and fostering their expansion plans.
For instance, recently, on April 14, 2022, Haivision, a leading global provider of real-time video streaming and mission-critical networking solutions, announced that it will be showcasing its latest advancements and updates in IP video contribution technology at the 2022 NAB Show to be held between April 24-27 in the Las Vegas Convention Center.
The company had recently acquired Aviwest, a leading provider of mobile IP-based video contribution systems and a pioneer in transmitting live video over cellular networks. With the addition of Aviwest’s technologies, Haivision aims to change the game for broadcast video contribution.
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