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Market HighlightsThe cloud video streaming market witnesses rapid traction. Rising numbers of cloud computing technology and video services providers worldwide drive the market growth. With the rising numbers of private cloud asset management platforms producing professional TV/VDO content, the market is expected to perceive phenomenal gains in the next few years.
In this regard, Market Research Future (MRFR) asserts that the global cloud video streaming market is expected to reach approximately USD 16.6 BN by 2024, growing at 13.8% CAGR throughout the forecast period (2018–2024). Innovative cloud video streaming technology garnered significant prominence during recent COVID-led lookdowns facilitating e-learning, streaming, and work from home capacity.
Additionally, growing uses of video content over the internet among users accelerate market revenues. Also, the proliferation of smart and connected devices and high-speed internet connectivity escalates the market size. Furthermore, increasing mobile applications and professional expertise in digital learning influence the market value. Increasing IT security & cloud-based solution implementations offer significant opportunities.
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Segmentation:
The report is segmented into components, streaming types, cloud deployments, verticals, and regions. The components segment is bifurcated into media players (JW Player, Adobe Flash Player & Adobe AIR, iOS media player, others) and services (professional services and managed services). The streaming type segment is bifurcated into live streaming, video-on-demand streaming, video hosting, and others.
The cloud deployment segment is bifurcated into public cloud, private cloud, and hybrid cloud. The vertical segment is bifurcated into media & entertainment, education, healthcare, government, and others. By regions, the market is bifurcated into the Americas, Asia Pacific, MEA, Europe, and rest-of-the-world.
Global Cloud Video Streaming Market - Geographical Analysis
North America dominates the global cloud video streaming market. The strong presence of well-established technology providers and development centers in the region substantiates the market growth. Besides, the rising adoption of cloud-based services in small and medium enterprises in the region boosts the market size.
Increasing collaborations between the government, network companies, and institutional partners accelerate the region’s market shares. Large-scale investments by enterprises towards outsourcing video streaming solutions and services contribute to the market value in the region.
Global Cloud Video Streaming Market - Competitive Landscape
Well-established, the cloud video streaming market appears fragmented due to the presence of several key players. Matured players incorporate strategies such as mergers & acquisitions, collaborations, product launches, and expansion to gain a competitive advantage in this market. Players emphasize product innovation and new processes, fueling the already intensified competition during the forecast period.
Major Players:
Players leading the cloud video streaming market include Amazon Web Services (US), A-frame (UK), Encoding.Com (US), Haivision Hyperstream (US), Forbidden Technologies (UK), Microsoft Azure (US), Akamai Technologies, Inc. (US), Adobe Systems Incorporated (US), and Sorenson Media (US) among others.
Industry/ Innovation/ Related News
Nov. 09, 2021 --- Avnet, a leading global technology solutions provider, announced a partnership with Digital Realty, a leading global provider of cloud & carrier-neutral data center colocation & interconnection solutions, to develop universal cloud-based video streaming solutions. These new cloud streaming solutions would enable companies and application providers to develop, launch, scale and enhance their video broadcast product offerings.
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Cloud Video Streaming Market Research Report: Information By Type (Bidirectional, Unidirectional), Connectivity (Wireless, Wired) Product (Horizontal Beam Counting System, Overhead People Counting System), Application (Retail, Transportation, Sports & Entertainment, Banking & Finance, Government, Hospitality) - Forecast to 2027
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