ID: MRFR/ICT/2778-CR | September 2017 | Region: Global | 100 pages
Global Cloud Video Streaming Market is projected to expand at 13.8% CAGR over the forecast period (2018-2024), according to Market Research Future (MRFR) in its latest report. It can reach a size of USD 16.6 Billion by 2024. Cloud video streaming can assist organizations in scaling their operations and communicate effectively with their teams. Adoption of BYOD and remote working are likely to spur the market demand over the forecast period. User experiences on the cloud and seamless engagement may determine the market prospects.
The COVID-19 pandemic has disrupted activities and plans of corporations and organizations. Lockdown restrictions have enforced people to stay within their homes for curbing the spread of the disease. Cloud streaming providers are profiting of the event owing to customers opting for OTT services for their entertainment. Monumental increase in live streaming events and investments in streaming infrastructure are likely to favor the market growth over the forecast period.
Small players are employing a dynamic event orchestration for hosting the event and terminating the services post-event. Claro, a Brazilian media company, makes use of the technology for live streaming of motorsports and news to customers based on their location. Scale, speed, and flexibility are features of cloud computing that can push for the streaming services. High-demand events can be recorded with the service and ensure its monitoring in real-time.
Adoption of Cloud
The large scale adoption of cloud computing for management of operations and services is likely to reflect in huge demand for cloud video steaming market. The move from traditional forms of media to digital mediums is expected to bode well for the market. Presence of major OTT streaming platforms and cloud infrastructure required for supporting maximum users can drive the market. Opportunities for monetization of licensed content and encoding of various standards for seamless streaming can favor the market.
Next-generation Video Resolution and Bandwidth Speeds
The launch of next-generation video resolution for latest screens and tablets can create opportunities for the cloud video streaming market. Remote workflow, hosting of online events, and high data rates can spur the market growth. Content delivery networks with capability of offering instant playback and offline viewing can be revenue pockets for cloud service providers.
Consumer expectations of high-quality streams and bandwidth demands with low latency are issues to be tackled by cloud service providers. The long request time and enjoyment of the service are pivotal in driving the company. Issues in streaming and quality of feeds can restrain the market growth.
Adobe Flash Player and Adobe Air to be Leading Segment
Adobe Flash Player and Adobe Air are likely to gain the major market share of the cloud video streaming industry. This is attributed to its support for unified communication technologies on SIP gateways and monetization of HD videos with built-in protection against piracy.
Managed Services to Rule Market Revenues
Managed services are likely to rule the global cloud video streaming market revenues owing to rise of cloud adoption in the U.S. Cloud managed service providers cost less and lower operational risks by continuously working on cloud infrastructure. Large scale investments by enterprises and collaboration between governments and network companies can bolster the segment growth.
Live Streaming to Lead in Global Market
Live streaming is expected to lead in the global market owing to globalization and proliferation of smart devices. Exposure to various cultures, food, sports, and other events can drive its demand in the market. The huge demand for live streaming by entertainment and education sectors can bode well for the market.
Hybrid Cloud to Lead in Global Market
The hybrid cloud model is expected to dominate the global cloud video streaming market in the coming years owing to the need for reliable technologies for supporting high resolution and higher fidelity. It can gain traction owing to the emergence of virtual events due to the COVID-19 pandemic. EventHall, an Indian company, simulates real locations by matching the theme of the event with live and recorded sessions. It can be used in hosting company events and celebrations using the hybrid cloud model approach.
Education to Dominate in Global Market
The education segment is expected to generate the largest revenue share of the global cloud video streaming industry. This is attributed to rise of elearning platforms and preference by children for rapid learning. The COVID-19 pandemic and its impact on shifting learning from classrooms to homes can bode well for the segment. Moreover, the impending student loan debt and convenience of online streaming can work in favor of the market.
APAC to Register Fastest Growth Rate
APAC to display a stellar growth rate during the assessment period owing to rapid urbanization, development of telecommunication infrastructure, and expendable income levels of customers. Business expansion plans and the growing edutech sector can act as catalysts of growth for the regional cloud video streaming market. China, India, and Japan can contribute the maximum to the region due to presence of many small and medium enterprises.
Global Cloud Video Streaming Market is characterized by vendors providing storage plans through a subscription model. Players are employing partnerships, agreements, and acquisitions to gain the lead in the cloud video streaming market share by the end of the forecast period. Amazon is one of the biggest players in the market with video services provided using REST and SOAP protocols.
Prominent vendors in the cloud video streaming market include Akamai Technologies, Inc. (U.S.), Haivision Hyperstream (U.S.), A-frame (U.K.), Sorenson Media (U.S.), Amazon Web Services (U.S.), Microsoft Azure (U.S.), Adobe Systems Incorporated (U.S.), Forbidden Technologies (U.K.), Encoding.Com (U.S.), and others.
The global cloud video streaming market report by MRFR provides a broad outlook into the industry and projects estimations on its growth trajectory. It considers growth engines, barriers, opportunities, and trends for the forecast periods to make the assessment. It is segmented in the following manner:
By Streaming Type
By Cloud Deployment
Frequently Asked Questions (FAQ) :
The global cloud video streaming market is poised to record a market value of USD 16.6 Billion by 2023.
The global cloud video streaming market is maturing at a whopping 18.9% CAGR over the review period of 2017 to 2023.
A few significant players of the global cloud video streaming market are Adobe Systems Incorporated (U.S.), Akamai Technologies, Inc. (U.S.), Microsoft Azure (U.S.), Sorenson Media (U.S.) among others.
The managed services segment is expected to drive market growth over the review period.
The growing IT management complexity and increasing adoption of BYOD is subsequently driving the cloud video streaming market growth.
The adobe flash player and adobe AIR segment is likely to witness the highest demand in the cloud video streaming market.
The partnership between government and network companies, institutional partners is expected to fair well for the market.