Jul 29, 2021 (The Expresswire) -- The global video streaming market share , size is likely to hit USD 842.93 billion by 2027, exhibiting a CAGR of 12.0% during the forecast timescale. Video streaming is a form of media streaming in which a video file is streamed to a remote user with the help of the internet. Enhancing internet connectivity and increasing population are majorly driving the market growth. Fortune Business Insights™ has presented this information in an upcoming report titled, “ Video Streaming Market, 2020-2027” . The market size stood at USD 342.44 billion in 2019.
The report divulges the several factors contributing to the video streaming market growth. For instance, a study by Cisco Systems Inc. witnessed an increase of over 47% in live streaming in 2018.
The Video Streaming Market report offers an exhaustive evaluation of the key market players and their growth strategies. The report studies the political, social, economic, technological, and environmental factors promoting the market's growth in several regions. The report contains an in-depth analysis of the different factors driving, restraining, and creating opportunities in the market. The report incorporates Porters’ five Forces Analysis for a precise prediction. The report also highlights the effects of COVID-19 on the market.
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Drivers and Restraints-
Mushrooming Utilization of Live Video Streaming by Various Businesses to Augment Growth
Various businesses are experiencing the importance of live video streaming and the advantages associated with it. During the pandemic, the market has witnessed an uptick due to the growing adoption of live streaming for one or the other purposes. For instance, schools and colleges have shifted to online teaching methods for effectively imparting knowledge to students.
The increasing population and the growing fondness for online streaming platforms are also expected to accelerate the Video Streaming Market in the upcoming years. The increasing popularity of over-the-top (OTT) streaming platforms have created an unparalleled demand for live video streaming content. The growing user base of OTT services like Hulu, Roku Free Channels , Netflix, Disney+, etc., due to flexible pricing and abundant video content is likely to spur market growth. New OTT platform launches by prominent broadcasting networks are also expected to augment market growth. Additionally, the ability to stream live content on mobile devices through these platforms is likely to fuel market growth.
However, the bandwidth crunch and latency problems encountered during the streaming of videos with high graphics are likely to act as a restrainting factor to the market growth.
The global pandemic may have stagnated the growth of several industries and markets, but the video streaming market has experienced a positive impact throughout the pandemic. Educational institutes have switched to online teaching methods; the working population is functioning through meetings, training, and webinars over the internet. Healthcare organizations are using live video streaming for consultation, diagnosis, staff training, etc. The market is expected to experience dynamic market growth due to the uncertain duration of lockdowns and the pandemic itself.
Some of the Key Questions Answered in this Report:
Detailed Overview of video streaming market share will help deliver clients and businesses making strategies.
Influencing factors that are thriving demand and latest trends running in the market.
video streaming industry growth forecast for global market split into segments like region, product, applications, end-user, technology, etc.
What trends, challenges and barriers will impact the development and sizing of the Global video streaming services market share?
SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
What is the on demand video streaming growth momentum or market carries during the forecast period?
Which region may tap the highest market share in the coming era?
Which application/end-user category or Product Type may seek incremental growth prospects?
What focused approach and constraints are holding the video streaming services market share demand?
Based on components, the market trifurcates into content delivery services, software, and hardware. On the basis of streaming type, the market bifurcates into on-demand video streaming and live video streaming. On the basis of the streaming model, the market segments into subscription-based, advertisement-based, and transactional-based/rental. On the basis of deployment, the market divides into cloud and on-premise. Based on end-user, the market fragments into residential and commercial. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Partnerships and Product Development to Augment Growth
The dynamic consumer preferences are constantly shaping the streaming market. This has compelled the major players to envisage stringent strategies for growth. The key players are focusing on various growth strategies like product development, strategic collaborations, content monetization, etc. These players are also incorporating new payment methods to expand their consumer base. For instance, Netflix In. and Samsung Group announced a partnership in February 2020 to provide live streaming of content exclusively for the Galaxy smartphones users in South Korea.
May 2020: Amazon Web Services Inc. introduced a small hardware device named Elemental Link for seamless connection of live video resources.
June 2019: Tencent expands its streaming services beyond China, with Tencent Video Service launch in Thailand.
largest players in video streaming market are: