04-08-2019 11:05 AM CET - Leisure, Entertainment, Miscellaneous

Video Streaming Market Outlook, Competitive Insights, Significant Futuristic Trends and Opportunities 2024

Press release from: P&S Intelligence

The increase in adoption of over the top (OTT) into the existing video streaming systems has led to the growth of global video streaming market. The global demand of video streaming is increasing due to growing interest of users for watching advertisements, live events and video calling. The convenience provided to the users and the increases in live streamed content are the key factors contributing towards the growth of video streaming market. Some of the other factors driving the growth of the global market are emergence of social networking websites such as Facebook and Twitter. These social media platforms are enabling users to exchange their ideas, to publish their opinions and to participate in various activities and events. The continuous advent of mobile viewing is also enabling the video streaming market to grow. The ability to view content from a mobile device has now become a necessity for the users. Moreover, the users have shifted the use of desktops as a device for work and no more for entertainment purpose. The major application for video streaming technology is in media & entertainment and education sector.

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The global video streaming market is based on solutions such as payTV, internet protocol television, and OTT. Among these solutions, OTT is widely used in smart phones, laptops and tablets. Applications such as WhatsApp, Hike, WeChat, and Line play a major role in providing OTT chat services and these services are also used for other communication modes such as audio and video. Some of the major restraints that hamper the growth of market are restrictions by government for broadcasting international television shows, requirement of high bandwidth and non-availability of videos for off line viewing.

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Geographically, the North American region is expected to be the largest market during the forecast period owing to the increasing adoption of video streaming solutions and services. However, the companies in U.S. and Canada are using video streaming services significantly for launching of new products, and branding and marketing of companies products. In Asia-Pacific, China is expected to grow in video streaming market during the forecast period. With the increasing number of users accessing the internet, China is planning to invest more on internet infrastructure. The Chinese sites have imposed ban on various international TV series like the big bang theory, good wife which has led to an increased piracy cases of television series in the country. The Chinese government is emphasizing more on launching a state-owned video streaming service to control piracy and enable a cost-effective method for users to access Hollywood content.

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Some of the key players in the global video streaming market are Netflix Inc., Adobe Systems Inc., Amazon.Com Inc., IBM Corp., Akamai Technologies Inc., Microsoft Corp., Apple Inc. and Google Inc.

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