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The past few years have recorded an escalating demand for video streaming services across various regions. Several government bodies have formulated a range of regulations that are estimated to drive the industry expansion. As per a report by Fortune Business Insights, the global market size for video streaming was USD 372.07 billion in 2021. The market is estimated to grow from USD 473.39 billion in 2022 to USD 1,690 billion by 2029, exhibiting a CAGR of 19.9% over the forecast period.
Some of the key factors favoring market expansion comprise growing internet connectivity and the soaring adoption of online social media platforms. However, the launch of regulations in Europe is expected to affect service providers in the region. Under one such recent regulation, the European Commission wants telecom firms to give proof that streaming sites should pay for the added traffic sent over their networks. The Commission intends to ask about the escalation in traffic over the past three years.