Video Streaming Market to Witness a Healthy Growth by 2031

The video streaming market is expected to exceed US$ 750 billion by 2031, owing to rising demand for OTT platforms. According to new data from Future Market Insights (FMI) on the video streaming market, demand will rise at a 25% CAGR from 2021 to 2031.

By the end of 2021, the market will be valued more than US$ 73 billion, claims the analysis. According to FMI, the industry will develop as a result of rising demand for digital content, on-demand video streaming, and smart device penetration.

Due to a number of causes, including the expanding internet's accessibility and the rising popularity of mobile devices, the consumption of video material has been rising. Therefore, it is anticipated that the demand in the global market for video streaming would be fueled by technological advances and an increase in streaming service providers.

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Key Takeaways: Video streaming Market

By type, the live video streaming segment is anticipated to account for the leading share in the global video streaming during the forecast period. The segment estimated to grow at a robust CAGR of 27% through 2031.
The demand in the OTT segment is expected to account for maximum sales in the market.
Demand for subscription-based revenue model is estimated to grow at an impressive CAGR, as adoption of smart phones and smart devices grows following increasing penetration of high speed.
North America is expected to lead the market followed by Europe in 2021.
South Asia Pacific is anticipated to emerge as the fastest growing region between 2021 2031.
The market in India is expected to progress at a CAGR of 34% through 2031.

“Rise in consumption of digital content across smart devices, cheaper mobile data plans, and proliferation in OTT services across the world will boost the demand for video streaming services exponentially in the nest 5 to10 years.” says a FMI analyst.

Growing Adoption of Smart Phones and High-Speed Internet Technology is driving the Video Streaming Market

In recent years, both the use of smartphones and the availability of high-speed internet connections have grown. Global demand for video streaming will increase as access to cutting-edge telecommunications technologies like 3G, 4G LTE, and 5G becomes more widespread.

The quality of live streaming video is greatly influenced by the accessibility of the internet and network connection infrastructure. Additionally, the expanding market for video streaming will benefit from the rising demand for smart devices that can play digital media.

Video Streaming Industry Survey by Category

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