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Streaming Media Services Market - Global Industry Analysis, Size 2024
Streaming Media Services Market
The factors favorable to growth of the streaming media services market includes increasing adoption of advanced technologies such as bring your own devices (BYOD) and cloud storage. Streaming media has played a vital role in enriching internet experience for both individuals and enterprises. The streaming media services are supporting various initiatives by producing advertisements campaigns that are replacing static forms of media such as DVDs and CDs
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With the introduction of YouTube, pervasive connectivity and improved access to broadband, many users get the majority of their content streamed directly to their portable devices from the cloud. The enterprises across the world are using the streaming media services through social networking platforms for marketing their products. The users are adopting live streaming services through internet to get content delivered in real time event such as live television broadcast therefore, demand of on-demand entertainment services is rising for live entertainment programs and matches on portable devices. Furthermore, gaming systems are also enhancing the adoption of streaming media services.
In the consumer electronics sector, many products support streaming media services such as streaming media player. Thus streaming media service is expected to bring affiliated growth in the market. Several organizations are adopting these service to deliver seminars, presentation and training activities. In the education sector, large number of many educational institutions are endorsing streaming media services for e-learning and are providing online projects. However, factor such as higher broadband rates and low broadband penetration in the developing countries are anticipated to act as restraints to the streaming media services market.
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The streaming media services market is segmented on the basis of services, applications and end-users. Further, on the basis of services, market is segmented into audio streaming, video streaming, & others. Based on applications, the streaming media market is bifurcated into real time entertainment, web browsing & advertising, gaming, social networking and e-learning. Besides this, the streaming media service market on the basis of end-users is segment is divided into domestic, educational, and professional.
The developed countries such as Japan and the U.S.is expected to be major market for streaming media service due to availability of high speed internet connectivity. Emerging economics such as India, china and Brazil are witnessing growing adoption of streaming media service. The growth of streaming media services market in these countries is due to the factors such as high speed internet connectivity & data plans and increasing online video and audio streaming.
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