The realm of information and technology has seen the rapid emergence of video streaming technology, revolutionizing the way organizations conduct their daily operations. This versatile technology has enabled a host of activities, including scheduling meetings, live table conferences, and internal interactions with customers. A driving force behind the growth of this technology is the increasing demand for both live and on-demand video content among consumers. The proliferation of smartphones for watching movies, TV shows, live sporting events, and more has further fueled market growth. The video streaming market is highly competitive, with established giants and emerging service providers striving to deliver quality content to end-users through flexible payment models.
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The Power of Choice: Diverse Content Libraries
Consumers benefit from a myriad of options when it comes to content libraries. The availability of secure video streaming services featuring encrypted live and on-demand video content plays a pivotal role in influencing customer subscriptions. Market leaders such as Netflix, Amazon, Hulu, Google, Microsoft, and Adobe continually develop world-class streaming services while updating their content libraries to attract a global audience. With advancements in digital technologies and the advent of 5G network connectivity services, the video streaming industry is poised for rapid growth. The coming years are expected to witness increased partnerships and agreements between telecom network providers and video streaming companies, ensuring uninterrupted streaming experiences for consumers.
Segmenting Video Streaming: Live and On-Demand
Video streaming can be categorized into two main types:
- Live Video Streaming: This form refers to real-time broadcasting of video files over the Internet, allowing users to watch content on a variety of devices, including personal computers, smart televisions, smartphones, laptops, and tablets as soon as the video begins playing. Despite being streamed live in real-time, there are inherent encoding, transmission, and decoding delays. Software media players like Apple QuickTime, Adobe Flash Player, and Microsoft Windows Media Player decode the content and present it in a viewer’s window. Live video streaming encompasses a wide range of content, including sporting events, gaming sessions, individual videos, news, concerts, and talk shows, and is predominantly sourced from social media platforms.
- On-Demand Video Streaming: On-demand streaming provides secure content, adaptive playback options, and the flexibility for users to stream on various devices. It can also be used to publish a live event for video-on-demand playback. On-demand streaming is suitable in situations where live broadcasting is not mandatory and content can tolerate delivery delays. However, it lacks the real-time interactive features found in live streaming, such as live chats, Q&A sessions, surveys, or polls.
Market Outlook
The global video streaming market was valued at USD 39.610 billion in 2018 and is projected to reach USD 102.0971 billion by the end of the forecast period, boasting a growth rate of approximately 20.8% CAGR.
Key Players
Major players in the 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)
- Akamai Technologies Inc.
Market Analysis and Forecast (2017-2023)
- Detailed analysis of market structure and forecasts for various segments and sub-segments.
- Identification of upcoming technologies, high-growth geographies, and countries.
- In-depth study of regional and country-specific demand and forecasts for the video streaming market.
- Key segments covered in the report include type, deployment, platform, component, and model.
- The report presents unit breakdowns for different classifications, supported by assumptions.
- Regional market sizes were derived by identifying forecast demand for all applications and referencing historical data.
Target Audience
- OEMs
- Entertainment and media companies
- Gaming companies
- Smartphone manufacturers
- System integrators
- Technology investors
- Market research firms
- Telecommunication service providers
- Research institutes
- Suppliers and distributors
Market Insights
- The global video streaming market is poised to reach USD 102.0971 billion by 2023.
- On-demand video streaming holds the largest market share by type, with an anticipated CAGR of approximately 19.9% during the forecast period.
- Cloud deployment is the dominant sub-segment, expected to grow at an impressive 21.7% CAGR by the end of the forecast period.
- Smartphones are the leading platform, accounting for the largest market value in 2017, and projected to grow at a CAGR of 23.9% during the forecast period.
- Software solutions take the lead among components, with the largest market share in 2017 and an expected CAGR of 20.1% during the forecast period.
- The subscription video-on-demand model secures the largest market share in 2017 and is projected to register a CAGR of 19.7% during the forecast period.
- Geographically, North America is expected to have the largest market share in the global video streaming market, followed by Europe. The Asia-Pacific region is anticipated to show positive growth in the video streaming market.
Regional and Country Analysis
The global video streaming market is anticipated to grow at a promising rate from 2018 to 2023. North America leads the way, with the largest market share, driven by key market players such as Netflix Inc., Amazon Web Services, Apple Inc., Hulu, IBM Corporation, and Microsoft Corporation. Media & entertainment and education sectors have witnessed significant adoption of video streaming in the US, Canada, and Mexico, bolstering market growth.
Europe is the second-largest market for video streaming, experiencing significant growth due to the adoption of smartphones in the media & entertainment industry. Countries like the UK, Germany, France, Italy, and Spain have seen rapid growth in over-the-top (OTT) subscriptions, driving video streaming related to various content categories.
The Asia-Pacific region, the third-largest market, sees wide-scale adoption of streaming services in countries like China, Japan, India, and Australia. Live and on-demand streaming have gained traction, and market players are investing to expand their subscription-based consumer base.
Conclusion
Video streaming technology has revolutionized the digital landscape, offering a diverse array of content to users worldwide. The continuous growth in this sector, driven by innovative technology and partnerships, promises an exciting future for consumers and industry players alike.
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