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