According to new Global Market Insights, Inc, technology research report Video Streaming Market size is slated to grow substantially in the forecast timeframe propelled by growing demand for on-demand entertainment services, rapid adoption of cloud-based video streaming solutions, and network bandwidth optimization. These drivers have accelerated the adoption of streaming media services in enterprises by providing high-availability web-content, endless data storage, and reduced lag time in content delivery. With the tremendous growth in a number of internet users, the video streaming market is expected to grow faster during the forecast timeline.
Video streaming technology facilitates real-time presentation and distribution of audio, video, and multimedia content over IP network managed by the service providers. It allows a user to view the content in real-time without waiting for the entire file to be downloaded, which saves time and provide the media owners with built-in copy protection. The technology is increasingly being adopted due to the rising data consumption and smartphone penetration, availability of high-speed internet access, and increasing number of digital media players such as Netflix, YouTube, Amazon, iTunes, and Facebook. The emerging trend of enterprise mobility and evolving payment mechanisms, such as third-party wallets and net banking, is expected to drive the on-demand video streaming market. Furthermore, the use of Artificial Intelligence and video analytics to understand the customer behavior is likely to provide new opportunities for the market.
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Major factors such as connectivity issues, technological issues, a surge in internet traffic, and data loss due to buffering raise concerns for the video streaming market. In addition to this, the disparity among software systems, high content cost, and easy availability of pirated data restrain the market growth.
The online delivery of content can be done using two types, on-demand and programmed-time streaming. On-demand video streaming helps users to play a video at any point of time while programmed-time streaming establishes a channel on a scheduled basis. The video streaming market has penetrated into different user segments including BFSI, education, healthcare, government, travel, and entertainment. The business organizations and educational institutions are witnessing a notable growth of video streaming market for delivering presentations, seminars, and promoting e-learning initiatives. Healthcare sector is also flourishing due to the usage of streaming solutions to improve care coordination and patient engagement; increased collaboration among care teams and to minimize the cost of healthcare facilities.
North America is likely to account for the largest share of the global video streaming market due to the high adoption of digital technology, large-scale investments in streaming solutions, and institutional partnerships. Consumers in this region are spending a huge amount on subscription-video services like Netflix, Hulu, and Amazon, which is likely to boost the market.
The APAC region offers potential growth opportunities led by a boom in video streaming apps, the introduction of high-speed data plans, rising awareness of business productivity among players, and increasing usage of digital media among organizations as traditional broadcasters are shifting their services online. The entry of major and established players in this region is likely to open new avenues for the video streaming market. For instance, Amazon Prime Video has invested in digital entertainment services in India.
Some of the key vendors in the video streaming market include Adobe, Microsoft, RealNetworks, Google, Netflix, Amazon, Pandora Media, IBM, Cisco, Apple, Haivision, Brightcove, Hulu, Ooyala, Polycom, Wowza Media Systems, and Vbrick. Companies are adopting various growth strategies, such as acquisition and new product development to expand their presence in the global video streaming market. For instance, in January 2018, Cisco introduced Infinite Video platform, a virtual cloud stack to deliver highly secured video experiences. Similarly, in September 2017, Vimeo acquired the live video streaming platform, Livestream to launch its product Vimeo Live. This integration will provide creators with live streaming capabilities. Such strategic initiatives will help companies to gain the market share and get an edge over competitors.
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