![Video Streaming Market](https://res.cloudinary.com/devmoveo/image/upload/v1705314128/skyquest/report/php09AXfi.jpg)
Report ID: SQMIG50J2004
Report ID:
SQMIG50J2004 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|
Tables:
142 |
Figures:
78
In February 2024, Prime Video announced that it had partnered with Sony Pictures Television Studio (SPT), which is SPE’s subsidiary, to launch another, new subscription plan applicable to the Indian market more specifically. Known as Sony Pictures – Stream, this service will entitle viewers to watch as many titles from SPE’s film and television catalog, available through Prime Video Channels, for the first-year subscription of only Rs. 399.
In January 2024, Amazon announces the new feature named Matter Casting, which is similar to Apple’s AirPlay and Google Cast. P2P allows wireless streaming enabler across various platforms some of which includes Matter Casting that also supports iPhone and Android to stream almost all videos and content to Amazon’s entire set of TV devices. Its primary function is to be a substitute to what Apple and Google have been doing on their own, to bring video contents pass-through for iOS and Android devices connected to Fire TV boxes sticks and Echo Show 15 smart display units.
In February 2023, MoEngage, a leading customer engagement platform, announced its alliance with Myco, emerging as an innovative web-3 video streaming platform mainly active in fundraising, production, and distribution. Using the data disposition system from MoEngage, the idea is to improve the experience of the audience and content creators using the Myco application through the integration of push notifications.
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REQUEST FREE CUSTOMIZATIONVideo Streaming Market size was valued at USD 97.09 Billion in 2022 and is poised to grow from USD 102.30 Billion in 2023 to USD 174.97 Billion by 2031, at a CAGR of 8.13% during the forecast period (2024-2031).
The Video Streaming Market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by the Rise of Live Streaming in the Video Streaming Industry and technological innovations in the industry. The presence of the key players and various growth strategies adopted by them are among the prime factors that catalyze the Video Streaming market growth during the forecast period. Some of the prominent players operating in the Video Streaming market include Netflix, Hulu, Livestream, YouTube, Amazon Prime, and HBO among others. Companies are aiming at new product launches, innovations, expansions, mergers, and acquisitions, and finding a new market or innovating their core competency to expand individual market share. 'Netflix, Inc.', 'Amazon.com, Inc. (Amazon Prime Video)', 'Google LLC (YouTube TV)', 'Hulu, LLC', 'Apple Inc. (Apple TV+)', 'Disney+ (The Walt Disney Company)', 'HBO Max (WarnerMedia)', 'Peacock (NBCUniversal)', 'Sling TV (DISH Network)', 'FuboTV, Inc.', 'Philo (Philo, Inc.)', 'ESPN+ (The Walt Disney Company)', 'CBS All Access (ViacomCBS Inc.)', 'YouTube (Google LLC)', 'Twitch (Amazon.com, Inc.)', 'Vimeo, LLC', 'Crunchyroll (Sony Corporation)', 'Crave (Bell Media)', 'Hotstar (The Walt Disney Company)', 'iQiyi, Inc.'
Live streaming has emerged as a pivotal driver in elevating the market value of the video streaming industry. This feature facilitates direct communication with target audiences, enabling seamless interaction on business-related matters and enhancing comprehension of inquiries. Its ability to generate increased income has solidified its position as a leading revenue source within the industry, resulting in a notable surge in live video streaming activity.
Increasing accessibility of high-speed internet connections: The surge in video streaming is primarily attributed to the expansion of broadband internet penetration. With substantial growth in broadband infrastructure, internet connectivity has become more widespread, reaching a larger population across various households and regions. This expansion has facilitated access to stable and high-speed internet connections, thereby broadening the potential audience for video streaming services. Consequently, streaming platforms have experienced an increase in their customer base, as more individuals gain access to reliable internet, driving further growth in the video streaming market.
The Asia Pacific region is poised for considerable growth with the highest projected Compound Annual Growth Rate (CAGR), driven by factors such as the increasing use of mobile devices and tablets, rapid technological advancements, and the popularity of online streaming. The adoption of Over-the-Top (OTT) solutions has revolutionized content consumption in Asia Pacific, with established telecommunications companies and multichannel operators leading the charge in business innovation and marketing strategies centered around video streaming. Particularly in Southeast Asia, operators are capitalizing on the region's rapidly expanding broadband internet population by offering video streaming multichannel services alongside fixed-mobile packages, thus contributing to the overall expansion of the Asia Pacific Video Streaming market.
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Report ID: SQMIG50J2004