Westford, USA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global Video Streaming Market will attain a value of $174.97 Billion by 2031, with a CAGR of 8.13% over the forecast period (2024-2031). The over-the-top, or OTT, platform market, which is predicted to grow and give consumers access to premium video content without requiring cable or satellite subscription services, is anticipated to be beneficial to this sector. The same appears to be predicted for OTT platforms, since future market growth is expected to come from viewers most inclined to subscribe—those who can shift to consuming more material than they had previously anticipated. Over-the-top (OTT) video streaming services have seen steady growth in the market in recent years, altering data usage and media consumption habits.
Through internet-connected devices such as computers, tablets, Smart TVs, and smartphones, streaming allows users to watch videos in real-time over the internet for a variety of purposes, including movies, live events, television shows, and other video content, without the need for physical media like DVDs or Blu-ray discs. Due to the streaming video markets, which are mostly driven by convenience and wide mobility provided by high-speed Internet connection, customers can easily stream videos on cellphones, PCs, smart TVs, and tablets.
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Browse in-depth TOC on "Video Streaming Market"
· Pages - 157
· Tables - 142
· Figures – 78
Video Streaming Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $102.30 Billion |
| Estimated Value by 2031 | $174.97 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.13% |
| Forecast Period | 2024-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Streaming Type, Solution, Solutions, Service, Revenue Model, User, Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information/Product portfolio of players |
| Key Market Opportunities | Technological innovation |
| Key Market Drivers | Rise of Live Streaming |
Live Streaming Segment's Dominance in Video Streaming due to advancements in new media devices.
The live streaming category dominates the worldwide video streaming market with a market share of about 61%. The ability to stream media content from a distance is made possible by advancements in new media devices, such as portable multimedia players and quicker internet connections. Such actions promote the widespread use of live streaming due to benefits including ad-free content, diversity of mobile formats, robust analytics, vast audience potential, and outstanding stream quality. Keeping up with Live Content: Events that are broadcast live, such as sporting events or concerts, are still regarded as crucial for live video streaming.
OTT is Constantly Evolving in the Video Streaming Market with Rise in Programming Costs.
Asia-Pacific region, which includes China, India, Mexico, and Brazil, accounted for most of this gain in pay TV income, which increased considerably. However, growing programming costs for IPTV and pay TV are driving people toward over-the-top (OTT) providers. The expansion of the OTT market has been aided by availability of unlimited smartphone data plans and free public WiFi. Users can view HBO programming online without a cable connection thanks to new services like HBO Now, provided by Home Box Office, Inc.
North America Dominated Market due to Growth of Cloud Streaming Services.
North America is a major source of revenue for the video streaming business due to expansion of cloud streaming services in the region. In recent years, there have been rapid developments in the American video streaming market. Nearly half of customers watch on mobile devices, niche platforms have multiplied, and ad-supported models are becoming more and more common. The ongoing transformation in the digital economy and the attempts by the Goliaths of the traditional industry to migrate present both opportunities and challenges for the U.S. video streaming market. The technique of concentrating on a certain consumer base and providing them with interesting content to keep them interested is known as specialization.
Asia-Pacific is Fastest Growing Region due to Rise in Usage of Mobile Devices.
Asia-Pacific is expected to grow at the fastest rate due to several causes, including a rise in the usage of tablets and mobile devices, rapid progress of technology, and surge in demand for streaming services. This region has the highest predicted CAGR. The Asia Pacific market has undergone a dramatic transformation due to the adoption of over-the-top (OTT) content delivery and accessibility by well-known telecom companies and multi-channel operators, who have taken on the task of developing innovative business and marketing strategies and setting the standard for video streaming. In Southeast Asia, in particular, the growing number of broadband internet users is being leveraged by operators to offer standalone video streaming services and fixed-mobile bundles. The video streaming market in Asia Pacific is expanding due to this.
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Video Streaming Market Insights
Drivers:
Restraints:
Leading players in Video Streaming Market:
The following are the Top Video Streaming Companies
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech, and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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