The cloud video streaming market has been witnessing surging growth continuously. The market growth attributes to the presence of leading cloud computing technology and video services providers, offering HTTP using REST and SOAP protocol. Besides, rising numbers of private cloud asset management platforms producing professional TV/Video content drive the growth of the market.
Innovative cloud video streaming technology has become incredibly important in the recent COVID-19 crises to facilitate e-learning, streaming, and more throughout the day as everyone is working from home. Furthermore, the expanding use of video content over the internet among users accelerates market growth. Moreover, the proliferation of smart and connected devices and high-speed internet connectivity escalate market growth.
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According to Market Research Future (MRFR), the global cloud video streaming market is expected to reach approximately USD 21.54 BN by 2030, growing at 20.50% CAGR throughout the forecast period (2017–2023). Rising awareness for the advantages of cloud technologies in video streaming fosters the growth of the market. Increasing numbers of mobile applications and professional expertise in digital learning influence market growth.
With the advancements transpired into cloud computing, the popularity of the internet is growing, and hence, the number of active users is increasing too. This is allowing the cloud video streaming market to witness a high growth rate. Additionally, increasing implementation of IT security & cloud-based solutions, alongside the rapid digitization worldwide, are some of the key factors providing impetus to the market growth commutatively.
Cloud Video Streaming Market - Segmentation
The report is segmented into five dynamics;
By Components: Media Player (JW Player, Adobe Flash Player & Adobe AIR, iOS media player, others) and Service (Professional Services and Managed Services).
By Streaming Type: Live Streaming, Video-on-Demand Streaming, Video Hosting, and others.
By Cloud Deployment: Public Cloud, Private Cloud, and Hybrid Cloud.
By Vertical: Media & Entertainment, Education, Healthcare, Government, and others.
By Regions: Americas, Europe, APAC, and the Rest-of-the-World.
Cloud Video Streaming Market - Regional Analysis
North America dominates the global cloud video streaming market. Market growth is driven by the presence of major market players and well-established technology development centers in the region. Besides, the rising adoption of cloud-based services in small and medium enterprises in the region drives the growth of the market. Moreover, increasing collaborations between government, network companies, and institutional partners boost the market growth in the region.
Large scale investments by enterprises towards outsourcing video streaming solutions and services contribute to the growth of cloud services in the region. Technical advancements and the proliferation of the internet, mobiles, tablets, and other smart connected devices foster the regional market's growth. The North American cloud video streaming market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global cloud video streaming market. The market growth is driven by the growing demand by enterprise and huge investment by cloud-based video streaming companies. Additionally, the increasing adoption of on-demand cloud services supports the market growth in the region. The growing markets in Germany, the UK, France, and Italy lead to the regional market's growth. The European cloud video streaming market is expected to show immense growth over the forecast period.
The Asia Pacific cloud video streaming market is witnessing significant growth, emerging as a promising market in terms of size. The region consists of many small and medium-sized enterprises, contributing to the growth of the market. Factors such as advanced technology development and increasing urbanization, business expansion, industrial developments, and growing educational sector in China and India boost the market demand in the region.
Moreover, the rising disposable income propels the growth of the cloud video streaming market, allowing penetration of connectivity and connected devices. Growing economies such as India, Japan, and China accounted for the largest market share due to the growing IT network in this region. The APAC cloud video streaming market is expected to gain momentum witnessing the increasing demand for high-speed internet connectivity growing at the highest CAGR in the coming years.
Cloud Video Streaming Market - Competitive Analysis
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 the product innovation and new processes, fueling the already intensified competition during the forecast period. The Cloud video streaming market demonstrates a high growth prospect, which, in turn, attracts several new entrants to the market, intensifying the market competition further.
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
November 06, 2020 ----- EventsCase (the UK), a leading event management platform, announced raising £3.5m in Series A funds after a boom in the use of its tools for running virtual and hybrid events. Event's platform is designed to help organizers manage events using tools for building websites and apps, attendee registration, networking, email marketing, and gamification.
With options for live streaming, hosting content on-demand, and video networking, the company, reports tens of thousands of digital attendees every month and has put itself on course for a 100% growth year on year.
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