Video Streaming Market Growth at 8.13% CAGR by 2031 Increasing Accessibility of High-speed Internet Connections

WESTFORD, MASSACHUSETTS, UNITED STATES, August 13, 2024 /EINPresswire.com/ -- Video 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).

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The growth in video streaming is largely due to the expansion of broadband internet. The dramatic improvement in broadband infrastructure has allowed internet connectivity to spread, reaching more people in homes and communities.

Top Players in the Video Streaming Market

• Netflix (US)
• Amazon Prime Video (US)
• Disney+ (US)
• HBO Max (US)
• YouTube (US)
• Apple TV+ (US)
• Peacock (US)
• Paramount+ (US)
• Tencent Video (China)
• iQIYI (China)

Expansion of Video Streaming Market through Cloud-Based Technologies

Increasing adoption of cloud-based technologies is fueling the growth trend of video streaming market. This impact is greatest in North America and Europe, its adoption will dramatically change the distribution of video content. It has also been ensured that future growth and continuous improvement will help meet ever-increasing customer demands for better quality video, performance and security.

In January 2024, Prime Video announced a partnership with Sony Pictures Television Studios (SPT), a subsidiary of SPE to launch, a new subscription program primarily for the market called Sony Pictures–Stream For just Rs 1000, it will give you access to any number of titles from SPE films and television publications, available through Prime Video Channels.

In January 2024, Amazon is launching Matter Casting, a new feature similar to Apple’s AirPlay and Google Cast. P2P allows wireless streaming to be enabled across multiple platforms including Matter Casting which also supports iPhone and Android to stream virtually all video and content across Amazon’s TV device suite. Its primary role is to be an alternative to what Apple and Google are doing themselves, bringing video content to iOS and Android devices alongside the Fire TV box trees and Echo Show 15 smart display units.

Future Impact of Market in Next 4-5 Years

The following are the key Video Streaming Trends that will shape the growth of the market in the next 5 years

Due to increasing demand for personalized on-demand content over the next 4-5 years, the video streaming market will continue to expand rapidly. Streaming platforms improve user experience by on advanced recommendation systems, customized text libraries, and interactive features. They focus on improving growth. This will increase customer retention and increase viewership.

Segments covered in Video Streaming Market are as follows:

• Streaming Type
o Live Video Streaming, Non-Linear Video Streaming (Video on Demand)

• Solution
o Internet Protocol TV, Over-the-Top (OTT), Pay-TV

• Platform
o Gaming Consoles, Laptops & Desktops, Smartphones & Tablets, Smart TV

• Service
o Consulting, Managed Services, Training & Support

• Revenue Model
o Advertising, Rental, Subscription

• Deployment Type
o Cloud, On-Premises

• End Use
o Enterprise(Corporate Communications, Knowledge Sharing & Collaborations, Marketing & Client, Engagement, Training & Development), Consumer(Real-Time Entertainment, Web Browsing & Advertising, Gaming, Social Networking E-Learning)

Original Content Boom: Platforms Compete for Eyeballs

Original content production is on the rise as streaming giants compete with newcomers for market share. Exclusive series, films and documentaries will be key differentiators, attracting customers who demand exclusive and quality content. This content boom is creating opportunities for stories and emerging niche genres.

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Long-term Impact Over the Next 10 Years

Over the next decade, immersive technologies such as virtual reality (VR) and augmented reality (AR) will transform the streaming video market. These innovations will provide viewers with interactive and engaging experiences, turning passive viewing into active participation. Live events, concerts and performances will particularly benefit from these developments, providing unprecedented levels of immersion.

Sustainable Water: Environmentally Friendly Innovations

Environmental sustainability will be a major video streaming focus. Companies will invest in green technologies and practices to reduce their carbon footprint, such as energy efficient data centers, customized streaming protocols and these efforts don’t necessarily contribute to environmental creation not only protect but also help environmentally conscious consumers.

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Conclusion: Streaming into the Future of Entertainment

The video streaming market is booming, reshaping entertainment and media consumption. With the proliferation of high-speed internet, advances in streaming technology and the growing variety of products available, streaming has become the preference of consumers worldwide.

Looking to the future, the video streaming market will see several key changes. The integration of technologies such as artificial intelligence, virtual reality and augmented reality will change the way content is created and consumed, delivering immersive and interactive experiences. Furthermore, the departure of live streaming and the growth of top and niche platforms will further diversify the market.

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Artificial Intelligence Market

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