Industry Insight
Market Research Future reveals that the Video Streaming Market in 2020 would gain its novel valuation that was gained in 2018, amid an increase of new Coronavirus cases in the world. Among this, the study also takes into account and found that the market would rise at a pace of 18.1% CAGR during the forecast period from 2020 to 2030.
Top Impacting Factors
The market for video streaming market is groundbreaking and rising owing to some of the elevated factors such as convenience in watching video content anytime and anywhere, escalating mobile subscriptions adoption of mobile-connected devices, mainly Smartphones, as well as the rising need for original content live streaming. These factors are encouraging the growth of the video streaming market to a great extent, specifically in the time of lockdown due to the COVID-19 pandemic in every corner of the world.
Video streaming technology has hastily emerged in the field of information and technology. Video streaming is being heavily used for business operations and helping organizations modernize daily operations such as live table conferences, scheduling meetings, and interacting internally with customers while working from home during the lockdown period. More factor contributing to market growth is the intensifying demand for live and on-demand video content among consumers. This is taking the market to the next level of success which could do well in the forecasted period.
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Furthermore, the mounting adoption of Smartphones to watch movies, TV shows and live sports and events also promote market growth. The market is moderately competitive with significant players as well as emerging video streaming service providers, who are continually trying to offer quality content to the end-users with flexible payment models, is what motivates the market to inflate.
It is the market giants such as Amazon, Netflix, Google, Hulu, Microsoft, and Adobe that are continually developing world-class streaming services and updating content libraries to attract global customers during the shutdown of the world due to Coronavirus. The video streaming industry is probable to accomplish rapid growth with advancements in digital technologies and the emergence of 5G network connectivity services in the future which will give a new direction to the market’s position during the assessment period.
On the contrary, the factors such as interruptions in streaming flow, piracy, and low bandwidth or limited streaming speed are significant challenges that could hamper the growth of the video streaming market in the future.
Leading Segments
By the type segment, the market includes on-demand video streaming and live video streaming.
By the deployment segment, the market includes cloud and on-premise.
By the platform segment, the market includes laptops desktops, Smartphones, gaming consoles and smart TVs.
By the component segment, the market includes software solutions (video analytics solution, video management solution, and video security solution) and services (professional services, and managed services).
By the segment of the model, the market includes hybrid, and advertisement-supported video on demand, subscription video on demand, and transactional video on demand.
Targeted Regions in Market
The video streaming market, regionally, has been studied among North America, Europe, Asia-Pacific, and the rest of the world.
North America grabbed the most massive market value of USD 12,329.3 million in 2018, and now the market might register a CAGR of 21.2% during the forecast period. North America has witnessed noteworthy adoption of video streaming in current years. The occurrence of top market players such as Amazon Web Services, IBM Corporation, Netflix Inc., Hulu, Apple Inc., and Microsoft Corporation in the US has determined the growth of the video streaming market in the region.
Europe has been the second-largest market in 2018 and was valued at USD 10,827.0 million. Now the market is probable to exhibit a CAGR of 20.3%.
However, the market in the Asia-Pacific region might record the highest CAGR of 23.1%.
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Reported Players
The key players listed in this study on the global video streaming market are Netflix, Inc. (US), Amazon Web Services (US), Adobe Inc. (US), Apple Inc. (US), Microsoft Corporation (US), Cisco Systems Inc. (US), Google LLC (US), Walt Disney Company (Hulu) (US), IBM Corporation (US), and Akamai Technologies Inc. (US).
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