DUBLIN--(BUSINESS WIRE)--The "Global Video Streaming Market Size, Share & Trends Analysis Report by Streaming Type, by Solution, by Platform, by Service, by Revenue Model, by Deployment Type, by User, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global video streaming market size is expected to reach USD 223.98 billion by 2028, expanding at a CAGR of 21.0%
Rising technological advancements such as the implementation of block-chain technology in video streaming and the use of artificial intelligence to improve video quality are expected to boost the demand for the market over the forecast period.
Furthermore, the growing adoption of cloud-based video streaming solutions for increasing the reach of video content is directly influencing the growth. This trend is observed in numerous parts of the North American and Asia Pacific regions.
The reasons attributing to the growth of the market are rapid digitalization, increasing use of mobiles and tablets, and the growing popularity of online video streaming.
The factors such as the rising demand for on-demand video and extensive growth of online video are the key growth drivers for the market. Also, the increasing demand for high-speed internet connectivity acts as an advantage for the market to grow over the forecast period.
The growing acceptance of smartphones in combination with an extensive range of high-speed internet technologies such as 3G, 4G, and LTE has substantially led to the increasing use of video streaming. Also, the growing demand for devices that can support digital media is helping consumers to access media content anywhere across the world.
The market can be categorized, based on streaming type, into live video and non-linear video. The streaming of content via the internet and which can be displayed by the viewer in real-time can be defined as live video streaming. Further key findings from the report suggest that a live video segment is expected to portray the highest growth over the forecast period.
In contrast, the non-linear video segment is expected to grow over the forecast period majorly due to the increasing demand for streaming of content via the internet and which can be viewed in real-time.
Further, the COVID-19 outbreak requires people to stay indoors and confine themselves at home for a prolonged period. This situation is expected to have a positive impact on video streaming services' viewership and engagement.
Moreover, it has resulted in an increased need for entertainment, thus resulting in higher consumption of video streaming services. The viewership of video streaming services has drastically risen across the globe, several video streaming platforms, including Netflix, Amazon Prime Video, YouTube, Disney+ have registered a spike in the viewership worldwide.
Video Streaming Market Report Highlights
- The increasing usage of videos in corporate training and the impact of video streaming in the education sector are anticipated to drive the market growth
- The over-the-top (OTT) segment is expected to expand at the highest CAGR over the forecast period
- The Asia Pacific regional market is expected to have significant growth over the forecast period, majorly due to the increasing demand for high-speed internet connectivity and the growing demand for on-demand video streaming
- Extensive Growth Of Online Video Streaming And The Rising Demand For On-Demand Streaming
- Growing Demand For High-Speed Internet Connectivity
- Increasing Usage Of Videos In Corporate Training
- High Cost Of Content Creation
- Network Connectivity And Technical Difficulties Involved In Video Streaming
- Impact of video streaming in the education sector
- Use of Artificial Intelligence in video streaming
- Implementation of Blockchain in Video Streaming
The key players in the market are
- Akamai Technologies
- Amazon Web Services, Inc.
- Google LLC
- Microsoft Corporation
- iQIYI, Inc.
- Novi Digital Entertainment Pvt Ltd (Hotstar)
- Rakuten Viki
For more information about this report visit https://www.researchandmarkets.com/r/4f87oy