Major players in the content streaming market are Netflix, Amazon Web Services, Akamai Technologies Inc, Hulu, LLC., Apple Inc., Google LLC, Cisco Systems Inc, Walt Disney Company (Hulu), Kaltura Inc. and AT&T Inc.
The global content streaming market is expected to grow from $35.92 billion in 2020 to $39.36 billion in 2021 at a compound annual growth rate (CAGR) of 9.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $54.62 billion in 2025 at a CAGR of 9%.
The content streaming establishments in this industry do not provide traditional (non-Internet) versions of the content that they publish or broadcast. They provide textual, audio, and/or video content of general or specific interest on the Internet exclusively.
The increase in the number of devices that are capable of supporting digital media (such as smartphones, tablets, laptops, desktops, and smart TVs) along with increased internet access speed with better networks, coverage, and advanced technologies (3G, 4G / LTE) has provided consumers with an option to access the media content of his/her choice such as information, entertainment or social activity anytime, anywhere.Moreover, the rise in digital media players such as Netflix, Hulu, Amazon, Apple TV, Roku, and Boxee has shown a tremendous increase in online media consumption.
Thus, the increase in the number of mobile devices, internet connectivity, and digital media players or content providers making it easier for consumers to access music and video content going forward which thereby increases the growth of the content streaming market in the forecast period.
Companies in the video streaming market are increasingly implementing blockchain technology and AI to have cost benefits.Blockchain technology allows the video streaming providers to store data on thousands of servers globally that help the companies to have cost cuts associated with the content or massive video files stored on servers.
For instance, Video Coin, a video streaming providing start up is thinking to invest in implementing block chain technology to provide video content at lower prices.Also, the companies in the video streaming market are using artificial intelligence to improve their content quality.
For instance, streaming services such as Netflix, Amazon Prime, and Spotify make use of machine learning a subset of artificial intelligence (AI) to improve the user experience by tracking the user’s interests and recommending the content of user interest. AI also improves video quality by reducing video buffering through video compression.
The content streaming market covered in this report is segmented by platform into smartphones, laptops & desktops, smart TVs, gaming consoles and by type into on-demand video streaming, live video streaming.
The bandwidth limitations and reliability issues restrain the content streaming market.The quality of the video or audio streaming highly depends on the data transfer rate of a network or Internet connection, the total time required for a packet of data to travel from one point to another, and the capacity of the network to offer consistent services.
The bandwidth is important for high-quality video streaming, as sending large amounts of video and audio data over the Internet requires large data transfer with maximum transfer rate.The higher quality video uses more bandwidth than lower quality video.
Any long-term disruption of Internet services related to the bandwidth, latency, and network reliability can limit the quality of video/audio streaming and thereby halt the growth of the content streaming market.
In July 2019, Hive Streaming, a Sweden-based enterprise video distribution company, partnered with U.S. based software company, Kaltura, Inc., to provide joint customers with premium video delivery capabilities. Under this partnership, the data visualization solutions of Hive Streaming are joined with the broad network optimization offering of Kaltura, including Kaltura eCDN, along with additional network optimization and video delivery solutions. This collaboration has enabled high-quality live and non-linear video content.
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