Video streaming is a form of media streaming that enables continuous delivery of data with the help of internet to the user using mobile devices. This service enables users to view online videos without the need to download it on a mobile device or computer. The video streaming market size is growing significantly due to the ability of customization of content available to users, increasing scalability in business operations along with convenience with its use. This service allows the customers to pay for the content they watch in an effective manner and relinquish payment for the programs they do not require.
Furthermore, video streaming systems offer users to view programs while traveling or at any mobile location that enhances the convenience of this system and thus fuel the growth of the video streaming market across the globe.
Insight by Solution
There are three types of video streaming solutions internet protocol television (IPTV), pay TV and over the top (OTT). Among these segments, OTT is witnessing extensive application and adoption in smart devices such as phones, laptops and tablets. OTT used for viewing TV content with the help of internet without requiring the viewers to subscribe such as Time Warner Cable and Comcast.
Insight by Platform Type
On the basis of platform types video streaming market is segmented into smartphones and tablets, smart TV, laptops and desktops and gaming consoles. Smartphones and tablets are observing increased momentum and market growth in the video streaming market across the globe. The development of mobile applications has enhanced the business opportunities of small business enterprises along with generating large market base for a particular content. Video streaming in mobile devices offers flexibility, convenience and easy handling to the users.
Insight by Deployment Type
On the basis of deployment type, the video streaming market is segmented into cloud and on-premises. Cloud-based video streaming market is anticipated to witness faster growth during the forecast period since cloud media streaming helps the users to solve the problem of encoding video content and resolves compatibility issues. Moreover, cloud media streaming ensures easy accessibility of online content anytime and anywhere.
Insight by Type
The global video streaming market has also been segmented by type into video-on-demand streaming and live linear streaming. Among these two segments, live linear streaming is anticipated to witness faster growth during the forecast period due to its ability to provide ease of viewing and time shifting ability to the users. In live linear streaming the content of a particular video comes to the user on a direct basis as compared to on-demand streaming. Moreover, the users no longer are required to develop a playlist and the viewers can play videos as and when displayed in accordance to their choice.
Insight by User Type
Based upon user type, the video streaming market is segmented into large enterprises and small & medium enterprises. Among these segments, small & medium enterprises are expected to witness faster growth in the video streaming market since videos are considered to be most engaging platform in order to attract large audience base for several business organizations. Moreover, video streaming technology is accessible and affordable for small business enterprises to expand their market at rapid pace.
Insight by Services
On the basis of services, the video streaming market is segmented into consulting, training & support, and managed services. Among these segments training & support services are anticipated to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing benefits provided by video streaming in corporate training across the globe. Streaming makes e-learning more interactive and engaging to use and further helps in making available data from interactive and engaging. Interactive content and engaging content thus makes the content of a particular video easily understandable and relatable thereby bolstering the growth of the video streaming market worldwide.
Insight by Industry
The global video streaming market has also been segmented by industry into media & entertainment, IT and telecom, BFSI, government, retail, education and others. It has been observed that streaming has grown exponentially in 2017 in media & entertainment industry and is further anticipated to grow during forecast period. The growth of this domain is attributed towards shifting trends among the users related to consumption of particular content and furthermore radically altering the display of videos by various artists and industries across the globe.
Increasing upgradation in technology, emergence of social media sites, adoption of mobile-first platform along with increasing number of smartphone users are the key trends observed in the growth of the video streaming market. The emergence of social media networks and use of live streaming in several video channels is creating ample opportunities for the growth of global video streaming market. Social media networks are gaining huge momentum owing to extensive adoption of video content.
It has been observed that Facebook is excessively displaying large number of videos to the viewers since the company focuses upon laying extensive effort in attracting the users to browse more and more videos.
The increasing adoption of Video-As-A-Service (VaaS) in companies due to low total ownership cost, extensive requirement for transcoding in order to deliver videos to large number of users are the major factors driving the growth of global video streaming market. Furthermore, increasing demand for online video along with extensive demand for on-demand streaming and excessive utilization of videos in corporate training are other factors pertaining towards the growth of video streaming market across the globe. VaaS is a visual communication system that comprises of a high capacity low latency connection and this system includes set up, installation and wide range of support services.
This system enables the enterprises to provide their users with high definition video conferencing tools from completely immersive to desk based, room based and PC clients. This system is helping the business enterprises to develop virtual receptionists in order to greet people at the time of joining meetings and further act as a technical expert to support team and ensure smooth functioning of the meeting. Thus, VaaS is ensuring smooth and efficient administration of business processes which in turn is significantly contributing towards the growth of the video streaming market across the globe.
The high cost pertaining to development of content is the major factor hampering the growth of the video streaming market. The content streamed on videos require high accuracy, animations, graphics and person possessing technical skill in order to develop an effective video. Furthermore, complexities pertaining to video streaming such as technical problems and network connectivity are other factors hindering the growth of the video streaming market.
Globally industry players are leveraging market growth through the development of innovative solutions in video streaming. The vendors of video streaming are providing various solutions to the users such as consumer interactive video platforms, augmented video applications, scalable video streaming and hosting, and using videos to improve workplace productivity.
Geographically, North America is the largest video streaming market as the region is observing rampant adoption for streaming services by households in the U.S. that has significantly contributed towards revenue growth of service providers such as Netflix. The adoption of mobile devices by citizens of the U.S. is thus enhancing the continuous display of information, entertainment and media. For instance, it has been estimated that approximately 80% of the adults in this region view news on mobile devices that provides latest news feed on a continuous basis.
Moreover, extensive utilization of videos in corporate training is another factor pertaining towards the growth of video streaming market in North America. Videos that are utilized in corporate training enhance interactivity and make the task of eLearning specialists easy that helps the participants in applying their knowledge in an effective manner. The online videos help the users to receive more personalized content and further enable the users to view the e-learning content on smartphone or tablet on mobile location that provides flexibility to user in deciding upon the best time for learning. This factor is thereby enhancing the growth of video streaming market in this region.
Furthermore, Asia-Pacific is anticipated to grow at the fastest rate in the video streaming market during the forecast period. The increasing popularity of internet among a large population in the country such as China is enabling the country to extensively invest towards internet facilities. Moreover, the country has amended several norms in order to control piracy of several web series and make the service more cost efficient for the users.
Key players in the video streaming market are investing in improving the quality of videos and developing latest technologies which are strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies in their business operations, thus increasing the rivalry in the market to some extent. Microsoft Corporation, Akamai Technologies, Amazon Web Services, Ustream, Cisco Systems, Adobe Systems Incorporated, Netflix, Inc., Inc., Apple, Inc., Google Inc., and Hulu are the key players operating in video streaming market across the globe.