Jul 20, 2020 8:39 PM ET
iCrowd Newswire – Jul 20, 2020
Market Research Future published a research report on “Video Streaming Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The emergence of advanced technologies for video streaming has led to a boost in demand for the same over the years. Market Research Future (MRFR) presents an observation that the global video streaming market is prognosticated to strike 20.8% CAGR across the evaluation period 2018 to 2023.
Increasing availability of providers offering video streaming services is likely to develop the market over the next couple of years. In addition, the focus of the evolution of video quality is further anticipated to expedite the expansion of the Video Streaming Market in the upcoming years.
The provision of live and on-demand video streaming is likely to motivate the expansion of the market in the nearby future. In addition, other factors such as increasing penetration of internet services, rising demand for electronics that can stream videos, increasing disposable income, etc. are expected to catapult the video streaming market on a growth trajectory. Also, the commercialization of 5G network is poised to redefine the growth pattern of the market in the forthcoming years.
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Netflix, Inc. (US), Amazon Web Services (US), Adobe Inc. (US), Microsoft Corporation (US), Google LLC (US), Apple Inc. (US), Cisco Systems Inc. (US), Walt Disney Company (Hulu) (US), IBM Corporation (US), and Akamai Technologies Inc. (US) are few of the crucial players of the video streaming market assessed in this MRFR report. These market participants are expected to increase investments in the expansion of their product portfolios over the next couple of years. This, in turn, is expected to favor the robust competition in the global market place in the years to come. It is also highlighted in the report that the rising investments in regional expansion are projected to intensify competitiveness among the players. This, in turn, is poised to influence the video streaming market in the nearby future favorably. Some of the organic approaches anticipated to be leveraged by market players to strengthen footholds are product innovations, technological advancements, research & development, etc.
Global Video Streaming Market: Segmental Analysis
- By model, the video streaming market is segmented into advertisement supported video on demand, hybrid, advertisement supported video on demand and transactional video on demand.
- By platform, the global video streaming market is segmented into gaming consoles, laptops & desktops, smart TVs, and smartphones.
- By deployment, the video streaming market is divided into cloud and on-premise.
- By type, the global video streaming market is segmented into live video streaming and on-demand video streaming.
- By component, the video streaming market is segmented into software solutions (video analytics solution, video management solution, and video security solution) and services (managed services, and professional services)
The geographical study of the global video streaming market is assessed across four regions – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are also studied on a country-level basis in the assessment. North America held the leading share of the market in 2018 and is poised to register a CAGR of 21.2% during the evaluation period. The presence of pioneering players in the region is anticipated to boost the growth rate over the next few years in the region. Europe is poised to 20.3% CAGR, while Asia Pacific is set to strike a relatively higher CAGR of 23.1% across the forecast period.
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Impact of Covid-19 Outbreak on Video Streaming Market
Online video streaming has been gaining importance in the recent past since it provides personalized video content that can be accessed anytime anywhere. The online video streaming market is largely comprised of large multi-national players such as Netflix, Amazon Prime Video, Disney+, Hulu, HBO, Apple TV+, and YouTube, among others.
Since the global lockdown in early March following the outbreak of COVID-19, governments across the world have undertaken measures to prevent and minimize the spread of the coronavirus by closing down all the administrative, manufacturing, and corporate operations in the developed as well as developing economies. The employees have been asked to either work from their homes or provided have been provided with paid leaves. Furthermore, all other business operations, schools, colleges, universities, etc. are closed, leading to the majority of the population to stay within their homes. This, in turn, has resulted in the population opting for the Internet and other online platforms for entertainment.
Covid-19 Analysis on Video Streaming Market @ https://www.marketresearchfuture.com/report/covid-19-impact-video-streaming-market
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Keywords: Video Streaming, Video Streaming Market, Video Streaming Market Size, Video Streaming Market Share, Video Streaming Market Industry