Global Video Streaming Market is valued approximately at USD 45.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18.3% over the forecast period 2020-2026. Video streaming or media streaming is a video content, which can be sent in compressed form via internet and played immediately instead of storing it on the hard drive of the device. The streaming is the listening to music or watching a video in real time rather than downloading on the device and then watch it. These videos are sent from a pre-recorded video file that is compressed and can be sent over multiple users at the same time. Any device, that has an access to internet and applications can un-compress the contents, can enjoy the services of video streaming.
The extensive growth of online video streaming and the rising demand for on-demand streaming, growing demand for high-speed internet connectivity and increasing usage of videos in corporate training are the few factors responsible for growth of the market over the forecast period. Additionally, rising smart phone penetrations across the world will enhance the market demand. For instance, around 66% of individuals adopts smartphone in 2018, an increase from 63% in 2017 and 58% in 2016, globally, as per Zenith’s Mobile Advertising Forecasts 2017.
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Furthermore, the rising advancements and other strategic alliance by market key player will create a lucrative demand for this market. For instance: as per Company’s news release on 3rd June 2019, Amazon launched Prime Video Channels for Canada, that will allow customers to get their Prime memberships by adding their favorite TV stations and streaming channels for a low monthly subscription fee, without the need to enter a lengthy contract, and the convenience of a single account, login and user experience. However, high cost of content creation is the major factor restraining the growth of global Video Streaming market during the forecast period.
The regional analysis of global Video Streaming market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising number of on-demand streaming and live streaming consumers in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Akamai Technologies, Inc.
Tencent Holdings Ltd