The global video streaming market size is anticipated to reach USD124.57 billion by 2025, according to a new report by Grand View Research, Inc., registering a 19.10% CAGR during the forecast period. Globally, rising demand for on-demand video and extensive growth of online video are key drivers of the market. In addition, increasing demand for high-speed Internet connectivity acts as an advantage for the market.
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Growing adoption of smartphones, in combination with extensive range of high-speed Internet technologies such as 3G, 4G, and LTE, has resulted in increasing growth of data. Audio and video traffic across the globe has boosted consumption of Internet data. Moreover, rising demand for devices that are capable of supporting digital media are helping consumers to access media content anywhere across the globe.
The market can be categorized based on streaming scope into live video and non-linear video. The live video segment held the dominant share and is also anticipated to grow at a faster pace over the forecast period.
Further key findings from the report suggest:
- Increasing usage of videos in corporate training and growing impact of video streaming in the education sector are anticipated to drive the market
- Use of artificial intelligence to improve video quality is expected to push the market to register a CAGR of 19.10% over the forecast period
- Asia Pacific is expected to exhibit the fastest growth rate over the forecast period, majorly due to increasing demand for high-speed internet connectivity and surge in on-demand streaming
- Key players in the market include Akamai Technologies, Inc.; Amazon Web Services; Apple, Inc.; Cisco Systems, Inc.; Google Inc.; Kaltura, Inc.; Netflix, Inc.; Ustream; Wowza Media Systems; AT&T Inc.; and Hulu, LLC.