As stated in our extensive report; the Global Video Streaming Market accounted forUSD 58.3 Billionin the year 2021.
Video Streaming has grown over the past few years. The increasing adaption of mobile phones is resulting in the development of social media platforms like Instagram, Facebook, WhatsApp, and other digital platforms. These social media platforms are used for advertising and other marketing purposes. Therefore, this application segment is expected to fuel the demand for the Video Streaming.
The Video Streaming platform such as YouTube and Netflix have grown considerably over the years. These applications use AI to improve editing, cinematography, and other video quality aspects. As a result, AI plays a massive role in Video Streaming solutions. In addition, increasing AI adoption for video creation and production elements propels the Video Streaming Market growth.
Digital media is being used in various industries and is increasing considerably. This has resulted in the large volume of the population using the Video Streaming platforms for multiple purposes. For example, the academic sector uses the Video Streaming platforms for webinars and courses to enhance the teaching process. The visual illustration has made it easier for the students to learn. Academic sectors have been adopting the Video Streaming services. Rising adoption of this Video Streaming service with expected to lead the market growth.
Furthermore, the covid-19 outbreak has compelled people to remain at home. As the lockdown was imposed and with the given restrictions, it was nearly impossible for the people to keep up their daily routine/ work-life like before. As a result, people had to remain in their homes 24/7, which resulted in the Video Streaming Market growth during the covid-19 period.
The market has shown growth of more than 10% from 2019 to 2021. Video Streaming platforms such as Netflix, YouTube, Amazon Prime, and Disney+ Hotstar gained more popularity and reported a spike in the viewership covid-19.
In countries like North America, cloud-based solutions are adopted on a large scale. Therefore, the increasing cloud-based solutions are considered a market trend. Furthermore, innovation brought to the Video Streaming for the best video quality is growing the demand for the Video Streaming solutions. This is predicted to lead to the Video Streaming Market growth in the given forecasted.
Some of the notable prominent players in the Global Video Streaming Market include- Akamai Technologies, Amazon Web Services Inc., Apple Inc., Cisco Systems Inc., Google LLC, Kaltura Inc., Netflix Inc., International Business Machine Corporation (IBM Cloud Video), Wowza Media Systems LLC, Hulu LLC, and others.