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Content Streaming Market 2024-2033: Size, Share, and Growth Analysis
Content Streaming Global Market Report 2024
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According to The Business Research Company's, The content streaming market size has grown rapidly in recent years. It will grow from $140.55 billion in 2023 to $160.55 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to high-speed internet availability, smart devices proliferation, original content creation, cord-cutting trends, global expansion.
The content streaming market size is expected to see rapid growth in the next few years. It will grow to $271.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to personalization and ai, live streaming and sports, global content licensing, high-quality 4k and 8k streaming, interactive and immersive content. Major trends in the forecast period include ad-supported streaming, bundling and aggregation, short-form and mobile content, localized and regional content, content diversity and inclusivity.
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Market Drivers and Trends:
The increase in the number of devices that are capable of supporting digital media (such as smartphones, tablets, laptops, desktops, and smart TVs) along with increased internet access speed with better networks, coverage, and advanced technologies (3G, 4G / LTE) has provided consumers with an option to access the media content of his/her choice such as information, entertainment or social activity anytime, anywhere. Moreover, the rise in digital media players such as Netflix, Hulu, Amazon, Apple TV, Roku, and Boxee has shown a tremendous increase in online media consumption. Thus, the increase in the number of mobile devices, internet connectivity, and digital media players or content providers makes it easier for consumers to access music and video content going forward which thereby increases the growth of the content streaming market in the forecast period.
Companies in the video streaming market are increasingly implementing blockchain technology and AI to have cost benefits. Blockchain technology allows the video streaming providers to store data on thousands of servers globally that help the companies to have cost cuts associated with the content or massive video files stored on servers. For instance, Video Coin, a video streaming providing startup is thinking to invest in implementing blockchain technology to provide video content at lower prices. Also, the companies in the video streaming market are using artificial intelligence to improve their content quality. For instance, streaming services such as Netflix, Amazon Prime, and Spotify make use of machine learning a subset of artificial intelligence (AI) to improve the user experience by tracking the user's interests and recommending the content of user interest. AI also improves video quality by reducing video buffering through video compression.
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Major Key Players of the Market:
Netflix Inc., Amazon Web Services Inc., Akamai Technologies Inc., Hulu LLC., Apple Inc., Google LLC, Cisco Systems Inc., Disney+, Kaltura Inc., AT&T Inc., Adobe Inc., IBM Corporation, Tencent Video, iQIYI Inc., HBO Max, Paramount Plus, Eros Digital FZ LLC, ALT Digital Media Entertainment Limited, Globo Comunicação e Participações S.A., Starz Entertainment LLC, iFlix Sdn Bhd, ESPN Inc., Peacock TV LLC, Canal Plus Group SA, CuriosityStream Inc., StarTimes Media, Sony Pictures Networks India Private Limited, Discovery Inc., DAZN Group Limited, PCCW Media Limited, AMC Networks Inc., MUBI Inc., Nordic Entertainment Group AB, WatchIT Media FZ LLC, Ellation LLC, RTL Group Sam, BluTV AS, MBC Group, Yandex LLC, Bell Media Inc
Content Streaming Market 2024 Key Insights:
• The content streaming market size is expected to see rapid growth in the next few years. It will grow to $271.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
• Digital Transformation Fuels The Content Streaming Market
• Innovative Technologies Reshaping The Video Streaming Landscape
• North America was the largest region in the content streaming market in 2023
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