Video Streaming Market Growth
“””The Business Research Company recently released a comprehensive report on the Global Video Streaming Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The video streaming market size has grown exponentially in recent years. It will grow from $575.72 billion in 2023 to $699.91 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth in the historic period can be attributed to increased demand for encoders, rise in demand for on-demand streaming, increased demand for video streaming services in colleges, universities, high time spent online, increased usage of videos in corporate training.
The video streaming market size is expected to see exponential growth in the next few years. It will grow to $1,546.27 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to rising consumer expenditure on media and entertainment, rising sales of mobile phones, increasing internet connections, increasing recognition of ott platforms, rise in live-streamed content. Major trends in the forecast period include advancement in video streaming technology, introduction of innovative platforms, implementation of blockchain in video streaming, advancement in AI, demand for video streaming software.
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Market Drivers and Trends:
The rising number of road accidents is expected to propel the growth of the spinal biologics market going forward. A road accident refers to an unintended and unforeseen event involving one or more vehicles on a public road that often results in severe spinal injuries, necessitating advanced medical interventions for effective treatment and recovery. Road accidents are on the rise globally due to a variety of factors, such as distracted driving, an increase in traffic volume, poor road conditions and infrastructure, and alcohol and drug impairment. Spine biologics serve an essential role in improving patient outcomes by boosting spinal fusion, speeding healing, lowering surgical risks, enhancing pain management, and decreasing the need for revision operations. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, an estimated 42,915 people died in motor vehicle traffic crashes last year in the US, marking a 10.5% rise from the 38,824 fatalities in 2020. Therefore, the rising number of road accidents is driving the growth of the spinal biologics market.
Major companies operating in the video streaming market are focused on developing innovative technologies, such as adaptive video optimization technology, to ensure a seamless and optimized streaming experience for users across various platforms and devices. Adaptive video optimization technology utilizes advanced algorithms to dynamically adjust video quality based on network conditions, device capabilities, and available bandwidth. This ensures optimal viewing experiences, maintaining high-quality video playback even in challenging network environments. For instance, in May 2024, Agora, a US-based company that offers video streaming services, launched Adaptive Video Optimization (AVO) along with support for the AV1 video codec. It employs a range of sophisticated machine-learning algorithms to tackle prevalent issues. It dynamically adjusts video quality, considering network conditions, device capabilities, and bandwidth availability. Further, it ensures top-notch video quality and optimal performance, even in fluctuating network environments.
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Major Key Players of the Market:
Amazon Prime Video, Netflix Inc., Paramount, Discovery Communications Inc., Hulu LLC, Disney, iQIYI Inc., Apple TV, Viaplay Group AB, DAZN Group, YouTube, Hotstar , Crunchyroll Inc., Tubi Inc., Kaltura Inc., Viki Inc., SonyLIV, Sling TV LLC, Funimation Productions Ltd., Pluto TV , Peacock , BritBox, Acorn TV , Voot, Shudder LLC
Video Streaming Market 2024 Key Insights:
• The video streaming market size is expected to see exponential growth in the next few years. It will grow to $1,546.27 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%.
• Growing Media And Entertainment Demand Fuels Expansion Of The Video Streaming Market
• Enhancing Video Streaming Experiences With Adaptive Video Optimization Technology
• North America was the largest region in the video Streaming market in 2023
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This release was published on openPR.
