Increasing OTT platform demand is predicted to drive the video streaming market above US$ 750 billion by 2031. New industry research from Future Industry Insights (FMI) indicates that from 2021 to 2031, demand for video streaming will grow at a 25% CAGR.
By the end of 2021, the market will be valued at more than US$ 73 billion, claims the analysis. According to FMI, the industry will develop as a result of rising demand for digital content, on-demand video streaming, and smart device penetration.
Many factors, like the expanding internet accessibility and the rising use of mobile devices, have contributed to the rise in video content consumption. Thus, it is anticipated that the demand for video streaming services will increase due to technological developments and an increase in the number of streaming service providers.
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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 global video streaming during the forecast period. The segment is 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 models is estimated to grow at an impressive CAGR, as the adoption of smartphones 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 next 5 to 10 years.” says an 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 is highly dependent on the availability of network connection facility/infrastructure and the internet availability. Also, the growing demand for smart devices that support digital media will create a 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 a competitive edge, the market players are expected to focus on the integration of the 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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About Future Market Insights, Inc.
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 based on Source, Application, Sales Channel, and End Use over the next 10 years.
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