Future Growth And Trends in The Video Streaming Industry

The Video Streaming segment is expected to generate revenue of US$82,431 million in 2022. User penetration will reach 15.6 percent in 2022 and 18.9 percent by 2026.

FREMONT, CA: The television and video markets are highly dynamic and are driven by various factors: digitalization, new market offerings, and disruption by digital companies all contribute to quick change. Additionally, in the age of video-on-demand and mobile media consumption, customer expectations and usage habits are fast shiftings. The rapidly shifting market situation and ongoing diversity make long-term forecasting challenging.

According to a new analysis from Grand View Research, Inc., the global video streaming industry is expected to reach USD 223.98 billion by 2028. From 2021 to 2028, the market is expected to rise at a 21.0 percent compound annual growth rate. Rising technical breakthroughs such as the incorporation of blockchain technology into video streaming and the usage of artificial intelligence to enhance video quality would undoubtedly drive demand for the market during the forecast period. Additionally, the increased usage of cloud-based video streaming technologies for extending the reach of video content is having a direct impact on growth. This trend is evident in North America. Rapid digitalization, increased use of mobile devices and tablets, and the growing popularity of online video streaming contribute to the market's rise.

The market's primary growth drivers are the increasing demand for on-demand video and the rapid rise of online video. The increased use of smartphones in conjunction with a diverse array of high-speed internet technologies such as 3G, 4G, and LTE has contributed significantly to the growth of video streaming. Additionally, the increased need for devices capable of supporting digital media enables customers to access media material anywhere on Earth. Additionally, the growing demand for high-speed internet connectivity benefits the market's growth prospects over the projection period.

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