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The global video streaming market size was valued at USD 372.07 billion in 2021. The market is projected to grow from USD 473.39 billion in 2022 to USD 1,690.35 billion by 2029, exhibiting a CAGR of 19.9% during the forecast period. This information is provided by Fortune Business Insights, in its report, titled, “Video Streaming Market Size, Share & COVID-19 Impact Analysis, By Component (Software, and Content Delivery Services), By Channel (Satellite TV, Cable TV, Internet Protocol Television (IPTV), and OTT Streaming), By Vertical (Education/e-Learning, Healthcare, Government, Sports/eSports, Gaming, Enterprise and Corporate, Auction and Bidding, Fitness & Lifestyle, Music & Entertainment, and Others (Transportation), and Regional Forecast, 2022-2029.”
Growing implementation of online social media platform and increasing internet connectivity led to the growth of market. Moreover, surging video data traffic across the globe on account of an escalation in demand for enhanced resolutions based videos have boosted the market growth.
Growing Implementation of Live Streaming Platforms across Education and Healthcare Sectors to Foster Growth
The influence of COVID-19 pandemic is projected to affirmatively impact the global market size of video streaming over the forecast period. Moreover, the COVID-19 pandemic has fast-tracked digital transformation across the world. The rising implementation of online learning, work from home (WFH) and remote patient monitoring in health services, e-commerce, and other has augmented the demand for services.
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Amazon Prime Video to Secure Exclusive NFL National Broadcast Package
Amazon Prime Video has engaged in a 10-year contract with the National Football League to exclusively cast 15 Thursday Night Football games amid the regular season and one pre-season game every year in the U.S.
This is the NFL’s first sole national broadcast package with a digital streaming service. The deal also suggests that football fans will be able to get nearer to the on-field action with renowned aspects comprising X-Ray with Next Gen Stats, which are accessible solely to Prime members based in the U.S.
Growing Adoption of Low Latency Streaming Protocol Videos is Fueling Growth
Growing adoption of low latency streaming videos and escalation in live streaming implementation by the consumers through social media platforms help the market growth. Also, dominating companies in the market are creating advanced low latency live streaming video platforms. This is predominantly backed by the surging popularity among the users and assists the global video streaming market growth.
Nevertheless, worries among users connected to content piracy and security are anticipated to obstruct corporate functioning, declining consumers' viewing content. This is estimated to influence market growth in the upcoming years.
Inventive Product Launch Declarations by Prime Players to Nurture Market Growth
The indispensable players implement numerous tactics to bolster their position in the market as dominating corporation. One such prime notion is procuring companies to bolster the brand value among users. Another important strategy is intermittently unveiling innovative products with a specific examination of the market and its target audience.
Key Industry Development:
List of Key Players Mentioned in the Report:
Further Report Findings:
North America is expected to dominate the video streaming market share during the forecast period owing to the presence of leading players. Further, increasing number of users for video on demand and video gaming platforms across the U.S. and Canada aids the market growth.
Based on the vertical, the scope includes market share by education/e-learning, healthcare, government, sports/e-sports, gaming, enterprise and corporate, auction and bidding, fitness & lifestyle, music & entertainment, others (transportation).
Table of Segmentation:
Value (USD Billion)
By Component, Channel, Vertical, and Region