iCrowd Newswire – Jul 9, 2020
One of the major factors responsible for the surge in the adoption of video streaming is the rising popularity of social media platforms. At present, there are more than 3 billion users of various social media platforms in the world, accounting for over 40% of the global population. The number of social media users in the world increased by 14% from 2017 to 2018. Since the last few years, there has been a tremendous surge in video content on various social media platforms. For instance, the video content on YouTube demonstrated explosive growth of 99% in 2017.
Driven by the above factors, the revenue generated from online video streaming is expected to increase from $245.3 billion in 2018 to $688.7 billion by 2024. The globalvideo streaming market is predicted to progress at a CAGR of 19.1% during the forecast period (2019–2024). There are various platforms, such as smartphones and tablets, laptops and desktops, and TVs, on which one can watch both linear and non-linear video content. Amongst these, TVs are expected to be preferred by a majority of consumers for watching video content, during the forecast period.
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The biggest phenomena currently being witnessed in the video streaming market is the shifting customer focus toward over-the-top (OTT) platforms for watching video content, across the world. For instance, it has been witnessed in the U.S. that over half of the population is preferring the OTT services as compared to the conventional Pay TV services. In the third quarter of 2018, more than 1 million consumers unsubscribed from the pay TV connections in the U.S. Furthermore, the pay TV service providers in the country lost 5 million subscribers in the last 5 years.
The objective of this research includes;
- Historical and the present size of the video streaming market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
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he other major factor boosting the adoption of video streaming is the growing internet connectivity across the globe. Since the last few years, the number of internet users in the world has increased at an exponential rate. For instance, the number of internet users increased by almost 1.3 billion from December 2014 to March 2019. This has resulted in the growth of several video streaming platforms such as Netflix, YouTube, and Amazon Prime. As per the Global Internet Phenomena Report by Sandvine, the users streaming video content consume a majority share of almost 58% of the total downstream internet traffic.
The research includes detailed analysis of;
- By Solution
- Pay TV
- Internet Protocol (IP) TV
- Over-the-Top (OTT)
- By Service
- Laptop PCs and Desktop PCs
- Smartphones and Tablet PCs
- Television (TV)
By Revenue Model
By End User
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Keywords: Video Streaming Market, Video Streaming Market Size, Video Streaming Market Share, Video Streaming Market Trends, Video Streaming Market Demand, Video Streaming Market Drivers, Video Streaming Market Analysis, Video Streaming Market Forecast