Video Conferencing Market Fueled by Growth in Work From Home Activities Amidst the Covid-19 Across the Globe
The Video Streaming Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Video streaming refers to continuous transmission of audio and video data over internet. With proliferation of internet based services, the entertainment companies have focused on delivering content over internet to gain access of expanding market. Adoption of advanced technologies such as artificial intelligence and block chain technology has helped to improve the quality of content. Content developers and editors have stated using AI and block chain technology for cinematography, editing, scriptwriting, voiceovers and so on. Thereby, streamlining the video streaming processes. Increased penetration of smartphones and easy access to internet services across the leading countries has strengthened the demand for video content, consequently fueling the growth of video streaming market. The video streaming market is expanding with increased number of content developers, video-on-demand service providers and shifting consumer preference across the globe. Additionally, proliferation of online or e-learning services across the globe is contributing towards the growth of the global video streaming market. The first quarter of 2020 witnessed strong demand for video streaming services due to increased demand for video conferencing fueled by growth in work from home activities amidst the COVID-19 across the globe. The market is anticipated to grow further in coming years with increased demand from online learning platforms and video-on-demand applications.
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OTT video streaming to drive the growth of the market due to increased adoption across the globe
The global video streaming market is segmented based on type, solution type, platform, revenue model, deployment, end user, and geography. Based on solution type, the global video streaming market is segmented into internet protocol TV, over-the-top (OTT), pay-TV, and others. The pay-TV segment contributed a prominent share to the global video streaming market in 2019 owing to strong demand from emerging countries. The OTT segment is anticipated to be the fastest growing segment during the forecast period owing to rising adoption and availability of internet services across major countries.
Proliferation of internet services and expansion of smartphone user base to drive market growth
Based on end user, the global video streaming market is segmented into enterprise and consumer. The enterprise segment is sub-segmented into corporate communications, knowledge sharing & collaborations, marketing & client engagement, training & development, and others. The consumer segment is further sub-segmented into real-time entertainment, web browsing & advertising, gaming, social networking, e-learning, and others. The consumer segment held the largest share in 2019 owing to increased entertainment convenience offered by video streaming and expanding internet infrastructure across emerging countries. Increasing smartphone user base is anticipated to contributed towards the growth of consumer segment in coming years.
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Based on geography, the global video streaming market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed a dominating share to the global market in 2019 and is anticipated to witness steady growth during the forecast period owing to increased adoption of cloud-based streaming services. Asia Pacific is anticipated to be the fastest growing segment during the forecast period owing to expanding consumer base fueled by availability of internet services, penetration of smartphones and adoption of advanced video-codec based communication across commercial applications.