What is the future of the video streaming industry?
By 2027, the market for worldwide video streaming is estimated to jump to USD 184.27 billion, as stated in a recent report by Grand View Research, Inc. From 2020-2027, the marketplace is expected to develop at a CAGR (Compound annual growth rate) rate of 20.4%. Continuous advancements in technology, like the use of block-chain in the video by streaming platforms as well as the work of Artificial Intelligence (AI) to enhance the quality of videos, will lead increment in the demand over an estimated period. Moreover, the emergence of cloud-based streaming solutions to increase content reach has an impact on market growth.
This trend has been noticed in uncountable areas of North America and various regions of Asia Pacific because of quick digitalization, the rapid increase in the use of I-Pads, smartphones, and tablets, and the spreading popularity of live/online video streaming. Additionally, the increasing demand for video and boundless growth of online video is running the market. Rising demand for quick speed internet means, like 3G, 4G, and LTE, etc., also privileges the market. Extensive usage of devices that support digital media to acquire online content will also support the market even more.
The live segment conducted is anticipated to bring about the fastest growth for the forecast period. Furthermore, the pandemic is expected to also bring positive influence on the market growth as it led to lockdown in many cities of the world, leading to an increase in the requirement for entertainment. This increased the number of users on video streaming platforms. Many eminent video streaming service providers, such as Netflix, Amazon Prime Video, Disney +, and YouTube have achieved significant growth in viewership from across the globe.
Cable and satellite have been our major sources of entertainment and information since the 80s and 90s. We still get to see some prominent names including Mediacom cable, Spectrum cable, Xfinity cable, Cox, Frontier, in the cable TV industry ruling the market and winning their customers. However, the shift in trends cannot be denied nor the cord-cutter or never-cord and by now it is pretty evident that video streaming services are here to stay. During COVID-19, a massive shift has been witnessed across the US and in the rest of the world, people are switching to streaming services. Whether it is live streaming service or online streaming services such as Netflix, this inclination is at the cost of cable and satellite service because people are not anymore willing to pay a hefty monthly fee.
Video Streaming Market Report Highlights
- Extensive use of videos in corporate training sessions and good impact of video streaming for students is expected to bring growth in the market.
- The CAGR for the over-the-top (OTT) solution segment is anticipated to be the highest for the forecast period.
- The market of the Asia Pacific region is anticipated to have swift growth from 2020 till 2027, incredibly due to the growing demand for fast speed internet and high demand in video streaming.
Type of Video Streaming (2016 – 2027 Returns in USD Billion)
Solution for Video Streaming Outlook (2016 – 2027 Returns in USD Billion)
- Internet Protocol TV
- Over-the-Top (OTT)
An outlook of Video Streaming Platforms(2016 – 2027 Returns in USD Billion)
- Desktops and laptops
- Gaming Consoles
- Tablets and Smartphones.
- Smart TV
Video Streaming Service Outlook (2016 – 2027 Returns in USD Billion)
- Training and Support
- Managed Services
Models for Video Streaming Returns(2016 – 2027 Returns in USD Billion)
An outlook of Video Streaming Placement(2016 – 2027 Returns in USD Billion)
Video Streaming User Outlook (2016 – 2027 Returns in USD Billion)
- Real-Time Entertainment
- Advertising and Web Browsing
- Social Networking
- E-Learning Enterprise
- Corporate Communications
- Knowledge Sharing & Collaborations
- Marketing & Client Engagement
- Training & Development
Video Streaming Regional Outlook (2016 – 2027 Returns in USD Billion)
- The U.K.
- North America
- The U.S.
- South America
- Asia Pacific
- The Middle East and Africa (MEA)
List of Key Players of Video Streaming Market
- Hulu, LLC
- Akamai Technologies
- Wowza Media Systems, LLC
- Amazon Web Services, Inc.
- Netflix, Inc.
- Apple Inc.
- Google LLC
- Cisco Systems, Inc.
- International Business Machine Corporation (IBM Cloud Video)
- Kaltura, Inc.
We have tried to compile a brief report on how the future of video streaming will look like. Moreover, in the aforementioned discussion, we have quickly gone through the factors that are aiding the rise of it.