Future of Streaming Media: Key Predictions for 2023

After the COVID-19 pandemic stopped the world, nations began to consume media more heavily.

FREMONT, CA: People worldwide were stuck inside owing to the spread of COVID-19, and they discovered a new pastime: viewing videos online. According to streaming trends, technology has reached new heights during the pandemic. The convergence of new technologies, internet adoption, rising mobile usage, and pervasive lockdowns drive this development.

Current streaming figures predict that video streaming will continue to dominate, accounting for 82 percent of internet traffic by 2022. Video accessibility also contributes to streaming's rising popularity. The same holds for enhancing video quality and making streaming popular among enterprises and other organizations.

The most recent digital marketing data demonstrate the growing importance of corporate video streaming. Despite its phenomenal expansion, streaming is open to more than just video, and other media have also utilized the technology. Traffic for music streaming increased by 20 percent. Rapid increases in usage fueled this surge during the pandemic, led by Spotify and Apple Music. Accessibility and ease were essential to the expansion of this streaming segment, and these factors contributed to a 49 percent increase in the on-demand music streaming industry in 2018 alone.

Even before the pandemic, the increase in the usage of mobile devices is a noteworthy development in the streaming industry. Mobile devices account for over 70 percent of YouTube viewing time. Users have developed an affection for mobile devices. These gadgets are used not only to watch videos but also to live-stream them. Some consider the widespread acceptance of vertical and square video formats, which optimize the usage of mobile screens in this context.

Extended Business Applications

Many businesses seized the opportunity to sell their brands through streaming. This is no longer the case, as firms discover new methods to utilize technology. Instances of video streaming include virtual doctor visits and drive-through banking. However, the most potential application of this technology is in customer service.

Organizations currently utilize video streaming to assist clients with product and service problems. The interactive feature of video streaming helps with customer experience, which is becoming a crucial aspect of customer service. This is in addition to the fact that technology reduces the requirement for a professional to be physically present when resolving issues.

The usage of video streaming in numerous corporate operations, such as marketing and sales, is expanding. In a recent Wyzowl State of Video Marketing report, for instance, over 99 percent of firms who use video for a marketing plan to continue using the platform in 2021, with 89 percent of marketers choosing YouTube. This is likely because 96 percent of consumers believe that their video consumption has drastically increased due to the pandemic.

IOT Video Streaming

Existing applications for the Internet of Things (IoT) video streaming include a range of scenarios. Among these are police enforcement and endoscopic procedures. As Internet-connected gadgets continue to rise, IoT video streaming is increasingly aimed at consumers. By 2025, approximately 30.9 billion IoT-connected devices will be installed, including active gateways or nodes/devices that concentrate the end-sensors that enable live streaming functions.

IoT video streaming's consumer applications include doorbell cameras, pet monitors, IP cameras, and security cameras. IoT video streaming is limited only to the consumer's imagination. With the arrival of the 5G Internet, residential and industrial monitoring will grow tremendously in the following years.

IoT video stream technology in automobiles is a further intriguing use. Using 5G-enabled gadgets and dedicated short-range communication technologies, a car can, for instance, communicate with other vehicles via tailored sensors and high-lighting infrared cameras. The largest section of the global IoT-5G endpoint market is anticipated to be linked to automobiles. This category is predicted to reach around 19 million endpoints by 2023, representing 39 percent of the install base market.