ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable insights on the Video Gaming Consoles market. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Video Gaming Consoles across various industries and regions.
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Disruptive technology applications in artificial intelligence (AI), and big data analytics are triggering adoption of video streaming among consumers. The global video streaming market will grow at an astounding 17% CAGR during the projection period i.e. 2019 – 2029. The market will further receive impetus in the near term with unprecedented viewership amid coronavirus outbreak. Expanding cloud infrastructure facilitates seamless streaming of high definition video content. Market players are prioritizing capture of streaming share by creating original content. The competition in the video streaming market is driven by quality and variety of video content.
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Global Video streaming Market: In-Depth Assessment on Key Segments
The global video streaming market is segmented on the basis of streaming type, delivery channel, platform, service, revenue model, end-use, and region.
Streaming Type
- Live
- Non Linear
Delivery Channel
- Internet Protocol TV
- Over-the-Top (OTT)
- Pay-TV
Platform
- Gaming Consoles
- Laptops & Desktops
- Smartphones & Tablets
- Smart TV
Service
- Consulting
- Managed Services
- Training & Support
Revenue Model
- Advertising
- Rental
- Subscription
End Use
- Enterprise
- Corporate Communications
- Knowledge Sharing & Collaborations
- Marketing & Client Engagement
- Training & Development
- Consumer
- Real-Time Entertainment
- Web Browsing & Advertising
- Gaming
- Social Networking
- E-Learning
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
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Competitive Landscape
Developing local content for high growth regions is a major competitive strategy among market players.
The likes of Amazon, Netflix, and YouTube are partnering with social media influencers, and celebrities to curate regional content that appeals to local communities.
Education end-uses of video streaming is a remunerative trend to keep an eye on. Prevalence of e-learning across the globe further creates surging demand for real-time video streaming of course content.
Organizations are analyzing consumer behavior using consumer sentiment analysis to differentiate content amid stiff competition. Streaming rights, and cost efficient production of video content dictates profits and sustained growth.
Major organizations that influence competition are, but not limited to, Netflix, Inc., Akamai Technologies, Amazon Web Services, Inc., Google LLC, Microsoft Corporation, Tencent, iQIYI, Inc., Novi Digital Entertainment Pvt Ltd (Hotstar), iflix, HOOQ, and Rakuten Viki.
Key Takeaways of Video Streaming Market study
- On the back of strong cloud network and internet connectivity such as 5G, North America leads global sales with over 20% of the total market value share.
- Middle East & Africa offer the most noteworthy revenue opportunities with a double digit 19% CAGR between 2019 and 2029. Surging penetration of digital services and smart devices in Middle East & African countries drives growth in this region.
- Consumer end-use segment accounts for the highest demand for video streaming services. The segment holds more than 53% of the total market value share with a stupendous 18% CAGR through 2029. Live streaming of sports events, and mobile battle arena games act as a central factor for growth.
- Non-Linear streaming type presents profitable opportunities with over 18% CAGR during the projection period. Investments from video streaming platforms in producing original content impel the demand for video streaming services.
- Subscription based revenue model emerges as the leader in revenue generation with more than 51% of the total market revenue share. Features such as multiple screens, profiles, and parental control are giving traction to this revenue model.
- Convenient availability of film and TV content over smartphones and tablets is driving the Over-the-top (OTT) delivery channel to exhibit a stellar 19% CAGR from 2019 to 2029.
“Increasing disposable income will drive consumers to purchase subscriptions from multiple video streaming vendors. Market players must then prioritize engaging consumers based on content, picture quality, and streaming convenience. Revenues are expected to be garnered by organizations forging strategic partnerships with local celebrities that increase footfalls based on their personal goodwill.”-Says Fact.MR Analyst
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