Market Research Report
Global Video Streaming Market Research Report Forecast to 2023
|Published by||Market Research Future||Product code||894984|
|Published||Content info||154 Pages
Delivery time: 1-2 business days
|Global Video Streaming Market Research Report Forecast to 2023|
|Published: July 31, 2019||Content info: 154 Pages||
Video streaming technology has rapidly emerged in the field of information and technology. This technology helps organizations modernize their daily operations such as scheduling meetings, live table conferences, and interacting internally with customers. One of the factors contributing to market growth is the rising demand for live and on-demand video content among consumers. Growing adoption of smartphones to watch movies, TV shows, and live sporting and other events is another factor promoting the market growth. The market is quite competitive with key players as well as emerging video streaming service providers trying to offer quality content to the end-users with flexible payment models. This offers consumers with several options to choose from the available content libraries. Provision of secured video streaming services with encrypted live and on-demand video streaming becomes a differentiating factor influencing the customers to subscribe to these services. Market giants such as Netflix, Amazon, Hulu, Google, Microsoft, and Adobe are continually developing world-class streaming services and updating their content libraries to attract global customers. The video streaming industry is expected to attain a rapid growth with advancements in digital technologies and the emergence of 5G network connectivity services. Furthermore, partnerships and agreements among the telecom network providers and video streaming providers are expected to increase in the coming years to offer an uninterrupted streaming experience to the consumers.
Based on the type of video streaming, the market has been segmented into live video streaming and on-demand video streaming. The videos are delivered to the streaming platform via adaptive streaming or progressive download technique. In adaptive streaming technology, multiple live or on-demand streams are encoded and switched adaptively based on the changing network conditions, i.e., when the network connection is good, the viewer gets a high-quality, high-data-rate stream, whereas, if the connection is weak, the server will send a lower-data-rate video file to ensure continuous connection. On-demand video streaming provides secured content, adaptive playback options, and additional flexibility to the users to stream on any device. It can also be used to publish a live event for video-on-demand playback. Video-on -demand is suitable in situations where live broadcasting is not mandatory, and the content can withstand delays in delivery. However, video-on-demand lacks real-time experience due to which it is not possible to conduct live chats, Q&A sections, surveys, or polls.
Live video streaming refers to the real-time broadcasting of video files over the Internet which enables the user to view the content on personal computers, smart televisions, smartphones, laptops, and tablets as soon as the video is played. Even if a video is streamed live in real-time, it is subjected to encoding, transmission, and decoding delays. Software media players such as Apple QuickTime, Adobe Flash Player, and Microsoft Windows Media Player decode the streamed content and present it in a window for viewers. Content such as sporting events or matches, gaming sessions, videos by individuals, news, concerts, and talk shows can be streamed live. Social media platforms are the major sources of live video content.
In March 2019, Adobe Inc. partnered with Roku channel, one of the largest ad-supported streaming platforms. With this partnership, Adobe's customers can effectively run advertising campaigns on leading TV streaming platforms.
The global video streaming market was valued at USD 39.610 billion in the year 2018, and is expected to reach USD 102.0971 billion by the end of the forecast period growing at ~20.8% CAGR.
The key players of video streaming market include Netflix, Inc., Adobe Inc., Amazon Web Services, Microsoft Corporation, Apple Inc., Google LLC, Cisco Systems Inc, IBM Corporation, Walt Disney Company (Hulu), and Akamai Technologies Inc.
The global video streaming market is expected to grow at a promising rate during the forecast period, 2018-2023. North America accounts for the largest market share in the global video streaming market. North America has witnessed significant adoption of video streaming in recent years. The presence of key market players such as Netflix Inc., Amazon Web Services, Apple Inc., Hulu, IBM Corporation, and Microsoft Corporation in the US has driven the growth of the video streaming market in the region. Video streaming has seen high adoption in the media & entertainment and education industries in the US, Canada, and Mexico that has promoted the market growth.
Europe accounts for the second-largest market share in the global video streaming market. Adoption of smartphones has overhauled the media & entertainment industry in European countries, driving the market for live and on-demand video streaming in this region. The European countries experience a strong online streaming presence owing to a range of video streaming apps increasing the average time spent by individuals to stream live or on-demand content. Among the European countries, the UK, Germany, France, Italy, and Spain have witnessed rapid growth in OTT subscriptions for streaming videos related to news, sports, fitness, lifestyle, films, and music. Asia-Pacific region accounts for the third-largest market share in the global video streaming market owing to wide-scale adoption of streaming services in countries such as China, Japan, India, and Australia, among others. There is growth in the number of live streaming and well as on-demand streaming consumers in this region. Moreover, key market players present in the video streaming market are investing in this region to expand their subscription-based consumers.