Market Research Future (MRFR) revealed in a report that the global video streaming market will experience a positive growth during the forecast period of 2018 to 2023. The report mentioned the market valuation to jump from USD 39.61 billion in 2018 to a calculated valuation of USD 102.09 billion by the end of the forecast period. The growth of market is expected to be at a CAGR of 20.8% in the forthcoming years.
The video steaming industry is anticipated to achieve a fast-paced growth in the coming years owing to the advancements in digital technologies and the emergence of 5G network services. Additionally, partnerships and agreements among the providers of various telecom network and video streaming providers is projected to strikingly increase in the forthcoming years. This is because it offers uninterrupted video streaming experience for the consumers to enjoy upon.
The global video streaming market segmentation is based upon type, platform, component, deployment, and model.
By type, the market segments into live video streaming and on-demand video streaming. Herein, the on-demand video streaming segment held the largest share of the global market with 59.3% of it under its name. Moreover, the segment is expected to exhibit a CAGR of 19.9% during the review period.
By deployment, the market breaks down into on-premise and cloud segments. The cloud-based segment is projected to garner the highest CAGR, accounting to 21.7%, during the forecast period.
By platform, the market includes laptops & desktops, smartphones, gaming consoles, and smart TVs. The smartphones segment hold the 32.8% of the market share, thereby leading this market category. The segment is further expected to attain the highest CAGR of 23.9% during the review period.
By component, the market divides into software solutions and services. The software solution segment held the largest share of the market i.e. 57.7% in 2018. The segment is projected to register a CAGR of 20.1% in the forthcoming years of the forecast period. The software solution segment further narrows down into video analytics solution, video management solution, and video security solution. Herein, the video management solution segment is anticipated to attain the highest CAGR of 19.8%.
By services, the market divides into managed and professional services. The professional segment held the highest share as per the 2018 market study. The segment is projected to register a CAGR of 23.1% in the coming years to maintain its position at the top.
By model, the market narrows down into advertisement supported video on demand, subscription video on demand, and hybrid. The subscription-based segment is identified to be leading the market charts by attaining a projected CAGR of 19.7% during the forecast period.
The global video streaming market is regionally segmented into the following key regions: Asia Pacific, Europe, North America, and the Rest of the World.
North America held the largest share of the global market as per the 2018 study of the video streaming market. The regional market held a valuation of USD 12,329.3 million back in 2018 and is expected to register a CAGR of 21.2% during the forecast period to maintain its lead in the global landscape. The growth of the region can be attributed to the mass adoption of video streaming services herein in recent years. Moreover, the presence of various key players in the regional market like Hulu, Apple Inc., Amazon Web Services, Netflix Inc., IBM Corporation, and Microsoft Corporation in the US and other developed regions of North America has significantly driven the growth of the market herein.
Europe stood tall as the second-largest video streaming regional market back in 2018 and was valued at USD 10,827.0 million. The European region is projected to exhibit a CAGR of 20.3% in the forthcoming years of the forecast period. However, among the mentioned regions, the Asia Pacific region is reported to register the highest growth annually of 23.1% during the assessment period.
Video Streaming Software Market is expected to grow at a CAGR of approximately 18% during the…
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