The video streaming market is expected to exceed US$ 750 billion by 2031, owing to rising demand for OTT platforms. According to new data from Future Market Insights (FMI) on the video streaming market, demand will rise at a 25% CAGR from 2021 to 2031.
According to the report, the market will be worth more than US$ 73 billion by the end of 2021. According to FMI, increased demand for digital content and on-demand video streaming, as well as increased penetration of smart devices, will drive market growth.
The consumption of video content has been increasing owing to several factors such as the increasing availability of the internet and increasing demand for mobile devices. Thus technical advancements and a growing number of streaming service providers are expected to fuel the demand in the video streaming market across the globe.
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Key Takeaways: Video streaming Market
- By type, the live video streaming segment is anticipated to account for the leading share in the global video streaming during the forecast period. The segment estimated to grow at a robust CAGR of 27% through 2031.
- The demand in the OTT segment is expected to account for maximum sales in the market.
- Demand for subscription-based revenue model is estimated to grow at an impressive CAGR, as adoption of smart phones and smart devices grows following increasing penetration of high speed.
- North America is expected to lead the market followed by Europe in 2021.
- South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
- The market in India is expected to progress at a CAGR of 34% through 2031.
“Rise in consumption of digital content across smart devices, cheaper mobile data plans, and proliferation in OTT services across the world will boost the demand for video streaming services exponentially in the nest 5 to10 years.” says a FMI analyst.
Growing Adoption of Smart Phones and High-Speed Internet Technology is driving the Video Streaming Market
In recent years the adoption of smartphones has been increasing along with the penetration of high-speed internet connections. Improving access to advanced telecommunication technologies such as 3G, 4G LTE, and 5G will fuel the demand in the video streaming market across the globe.
The quality experience of live streaming videos are highly dependent on the availability of network connection facility/infrastructure and the internet availability. Also the growing demand for the smart devices that support digital media will create conducive environment for the expansion of the video streaming market.
Who is winning?
Competition within the video streaming market is growing by the day. To gain competitive edge, the market players are expected to focus on the integration of latest technologies. Some of the leading companies operating in the market are Akamai Technologies, Apple Inc., AT&T Inc., Kaltura, Inc, Walt Disney Company, Brightcove Inc., Tencent, iQIYI, Google LLC, Kaltura, Inc, Netflix, Inc., IBM Corporation, Wowza Media Systems, LLC, Hulu, LLC, Adobe Systems, Inc.,Roku Inc., and Wowza Media Systems LLC.
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Video Streaming Industry Survey by Category
Type:
- Video On-Demand
- Live Video Streaming
Content Delivery Channel:
- OTT
- Pay TV
- IPTV
- Others
Revenue Model:
- Subscription
- Pay Per View
- Premium Purchases
- Advertisement-Based Revenue Model
- Other
End User:
- Residential
- Commercial
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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