Video Streaming Market to Hit USD 842.93 Billion by 2027 Owing to Wide Utilization as Medical Aid and Educational Platforms, says Fortune Business Insights™

Pune, June 24, 2020 (GLOBE NEWSWIRE) — The global video streaming market size is anticipated to exhibit remarkable growth owing to the advent and increasing popularity of digital video streaming worldwide. Video streaming, in simple terms, means the running of continuous media in a compressed audio and video form without waiting to download the content from the internet. A recently published report by Fortune Business Insights, titled, “Video Streaming Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content Delivery Services), By Streaming Type (Live Video Streaming, On-demand Video Streaming), By Streaming Model (Advertisement-based, Subscription-based, Transactional-based/Rental), By Deployment (On-Premise, Cloud), By End-Use (Commercial, Residential), and Regional Forecast, 2020-2027,” predicts that the value of the market was USD 342.44 billion in 2019 and is expected to rise at 12.0% CAGR between 2020 to 2027. It is set to reach USD 842.93 billion by 2027.
Most of the industries today are at a standstill and are facing huge losses owing to the current outbreak of the COVID-19 pandemic. However, every cloud has a silver lining. With the help of government support, it is possible to fight the contagious disease and we all hope to come out of this situation at the earliest possible. We are offering impact analysis on various markets that have been affected by the coronavirus widespread and the necessary measures adopted by them to draw out revenue.What are the Report Highlights?The report offers a comprehensive overview of the market and its major growth prospects such as drivers, restraints, challenges, and upcoming opportunities. It also throws light on s the current industry trends, major developments, and other interesting insights useful for this market. It further discusses the nature of the market competition, list of players and their key strategies to stay put in the competition. It also describes the table of segmentation and the names of the leading segment with market figures. The report is provided on the company website.

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Drivers & Restraints-Increasing Penetration of Smartphones with Quality Resolution to Add Impetus to MarketThe advent of digitalization into entertainment media is a significant factor in boosting theis market. In addition to this, the penetration of smartphones and the increasing popularity of live videos are also propelling the video streaming market growth. Furthermore, due to the outbreak of COVID-19, people are choosing to stay safe at home. Besides video streaming for entertainment purposes, many educational and medical institutions are adopting this medium to continue serving the public interest, education, and welfare, thereby aiding in the expansion of the market.On the contrary, latency and bandwidth issues and unauthorized platform may pose a significant challenge to the market, both in terms of poor quality video and loss of personal and financial details. Nevertheless, the drastic increase in the number of over-the-top (OTT) platforms and subscribers are likely to create lucrative growth opportunity in the future.Segment-Content Delivery Services Segment to Cover Major Share Owing to their Impactful and Effective FeaturesIn 2019, the content delivery services segment earned 88.4% video streaming market share as they are majorly used in wildlife broadcasting, product and services promotions, and online classes, among others. Under this segment, the OTT services sub-segment is expected to rise remarkably on account of its low-cost and flexible model. This segment requires a minimum network infrastructure as compared to the high-cost support involved for streaming IPTV and pay-TV.Asia Pacific to Grow Rapidly on Account of Increasing Penetration of SmartphonesGeographically, North America earned USD 148.20 billion in 2019 in terms of share. This is attributable to the presence of advanced network infrastructure and high internet connectivity. The U.S. alone consists of more than 200 streaming service providers. Additionally, the COVID-19 pandemic has propelled people to stay safe at home and opt for home streaming, wherein video gaming and OTT services have gained traction. Similarly, the market in Asia Pacific is likely to grow fast and exhibit high CAGR in the forecast period on account of the presence of tech-savvy population and the advent of smartphones with HD quality resolution, apt for video streaming. This, coupled with the availability of better network at cost-efficient rates that propels viewers to opt for live streaming instead of downloading content are expected to help this region witness rapid growth in the coming years.Competitive Landscape-Collaborations and Joint Ventures to Help Companies Hold Prominent Positions in MarketCurrently, companies such as Brightcove Inc. have a strong portfolio in the market as they are offering various services. These include cloud-based video encoding services, Zencoder, online video platform, video cloud, Brightcove beacon, Video Marketing Suite, Beacon, Brightcove Campaign, Enterprise Video Suite, OTT Flow, and others. Other players such as Kaltura Inc., Apple Inc., and others are engaging in joint ventures, collaborations, and partnerships with local companies to enter new geographies and generate better revenue in the future.
Key Industry Developments of the Market include:October 2019 – Marketo Engage and Brightcove Inc. entered into a partnership for incorporating video content into their marketing strategies.June 2019 – Tencent, a China-based company launched a video streaming service called WeTv in Thailand, wherein Chinese content was streamed under Thai dubbing.Wowza Media Systems, LLCWalt Disney CompanyTencent Roku, Inc.Netflix, Inc.Kaltura, Inc.iQIYIIBM CorporationGoogle LLCCisco Systems, Inc.Brightcove, Inc.AT&T, Inc.Apple, Inc.Amazon.com, Inc.Akamai TechnologiesOther vendorsIntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints, and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsImpact of COVID-19Short-term ImpactLong-term ImpactKey Industry Developments – In Response to the COVID-19 ImpactConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Video Streaming Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Size Estimates and ForecastsBy Component (Value)HardwareGaming ConsoleMedia StreamersStreaming BoxStreaming SticksEncoderSoftwareTranscoding and ProcessingVideo Delivery and DistributionVideo ManagementOthersContent Delivery ServicesPay TVInternet Protocol TV (IPTV)Over-the-Top (OTT)By Streaming Type (Value)Live Video StreamingOn Demand Video StreamingBy Streaming Model (Value)Advertisement-BasedSubscription-BasedTransactional-BasedBy Deployment (Value)On-PremiseCloudBy End-User (Value)CommercialResidentialBy Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued…!!!
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