Video streaming Market to surpass US$ 750 Bn by 2031 amid Rising Demand for OTT platforms. According to newly released data on the video streaming market by Future Market Insights (FMI), the demand registered will increase at a CAGR of 25% from 2021 to 2031.
The report also forecasts the market to surpass a valuation of US$ 73 Bn by the end of 2021. As per FMI analysis, a rise in demand for digital content and on-demand video streaming and simultaneously increasing penetration of smart devices would drive the market growth.
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The consumption of video content has been increasing owing to several factors such as the increasing availability of the internet and increasing demand for mobile devices. Thus technical advancements and a growing number of streaming service providers are expected to fuel the demand in the video streaming market across the globe.
Key Takeaways: Video streaming Market
- By type, the live video streaming segment is anticipated to account for the leading share in the global video streaming during the forecast period. The segment 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 model is estimated to grow at an impressive CAGR, as adoption of smart phones 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 nest 5 to10 years.” says a 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 are highly dependent on the availability of network connection facility/infrastructure and the internet availability. Also the growing demand for the smart devices that support digital media will create conducive environment for the expansion of the video streaming market.
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Who is winning?
Competition within the video streaming market is growing by the day. To gain competitive edge, the market players are expected to focus on the integration of 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.
More Valuable Insights on Video Streaming Market
FMI’s report on the video streaming industry research is segmented into five major sections – type (on-demand and live video streaming), content delivery channel, (OTT, Pay TV and IPTV, and others), revenue mode (subscription, pay per view, premium purchases and advertisement-based revenue model, and others), End User (residential and commercial(Media & entertainment, education, and others)), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the video streaming demand outlook.
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Future Market Insights (ESOMAR certified 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 on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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