Streaming Media Services Market Expected to Expand at a Steady CAGR through 2026
Streaming media services allows end-user to receive audio, video, and multimedia content without downloading the files to their systems. This saves user’s time and storage, and at the same time provides the media owners with built-in copy protection. Currently, streaming media is aiding e-learning initiatives and producing advertising campaigns, replacing static forms of media contents such as CDs and DVDs.
In the past few years, the streaming media services has evolved as a vital segment of the internet experience for both enterprise users and consumers. Businesses are proactively availing these services over the company's dedicated IP network, in turn avoiding the traffic congestion associated with the public Internet.
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Streaming Media Services Market: Drivers and Restraint
First introduced in 1995, streaming media was designed with a goal to get rid of the long wait times involved in downloading digital media content. (as the streamed media, audio and video, are played as soon as the data connection is commenced). The prevalent availability of high speed internet access has accelerated the adoption of streaming media services, further reducing the lag time in content delivery and thus improving the user's overall experience. Several drivers propelling its adoption in the market place include increasing demand among consumers, especially youth consumers for digital media content, and webcasting - in which organizations transmit the media content (audio, video and multimedia presentations) over their dedicated IP-based network. Additionally, enterprise marketing initiatives (Web advertising) using social networking platforms to introduce new products and surging demand of on-demand entertainment services such as entertainment programs and live matches, on TVs, portable devices and gaming systems are also further boosting the adoption of streaming media services globally.
Additionally, the recent developments in the consumer electronics sector, especially in the products that efficiently support streaming media services such as the streaming media player, is bringing concomitant growth in the media streaming services market. Several business organizations are utilizing streaming media services for delivering presentations, seminars, and training activities. Similarly, educational institutions are promoting e-learning initiatives by providing online coursework to expand their educational presence.
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Streaming Media Services Market: Segmentation
Streaming media services market can be segmented on the basis of type of services, applications, end-users and regions.
On the basis of type of services, the streaming media services market is further segmented into audio streaming, video streaming and others (includes live closed captioning, ticker tape and real time text). Among these the video streaming sub segment is anticipated to register the highest growth. The growth is mainly attributed to the increasing popularity of on-demand entertainment services such as movies, shows, videos and live matches, on TVs and other portable device platforms.
On the basis of applications, the market is classified as real time entertainment, web browsing & advertising, gaming, social networking and e-learning/distance learning. Presently, real time entertainment application segment dominates the streaming media services market globally. However the other application segments such as e-learning and web advertising are also emerging as potential revenue sectors due to their growing popularity among educational institutions and business organizations respectively. With the reduction in cost and integration of additional innovative features, e-learning softwares are reaching beyond universities to include general business training.
On the basis of end-users, the market is classified as personal/domestic users, educational institutions and business organizations. The adoption of video streaming service across domestic users is driven by the prevalent availability of high speed internet access and growing popularity of the online TV shows among the youth population in the developed regions. The business organizations and educational institutions are also witnessing a swift adoption of streaming media services and are anticipated to continue adopting these services during the forecast period.
Segmentation on basis of regions:
Streaming Media Services Market is sub-segmented into 7 key regions- North America, Latin America, East Europe, West Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
Streaming Media Services Market: Region wise outlook
Presently, developed countries such as U.S. and Japan lead the global market of streaming media services mainly due to availability of high speed internet connection. . There is a linear relationship between the internet speeds, and IP based video services across these countries.
Emerging economies such as Brazil, China, India and South Africa (BRICS) are witnessing high adoption ofstreaming media Services. The growth of this market in these countries is primarily attributed to the factors such as introduction of high speed data plans, increasing online (audio video streaming) traffic and traction in the e-learning programs initiatives.
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Streaming Media Services Market: Key Players
Some of the prominent players in the streaming media services market include Apple Inc., Adobe Systems Inc., Microsoft Corporation, RealNetworks Inc., Google Inc. (You Tube), Netflix Inc., Amazon.com, Inc., Pandora Media, Inc,. Spotify AB and Midwest Tape.
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