Market Scope
Market Research Future (MRFR) expects the cloud video streaming market to reach a valuation of approximately USD 21.54 Billion by 2030. MRFR also projects that the market can progress at a decent rate of 20.50% between 2020 and 2030 (appraisal period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak.
COVID-19 Analysis
Work from home policy is now the norm post the lockdown imposed due to the COVID-19 outbreak. The pandemic has helped highlight the advantages offered by cloud services, which has prompted higher demand for these services and solutions among companies. The novel coronavirus has also induced an exponential spike in the use of cloud service, as it is helping the companies reduce their spending on the management of their IT infrastructure and related operations.
Tech giants such as Amazon, Google and Microsoft, some of the biggest names in the cloud services world, are benefiting from the remote working practice worldwide, following the SARS-CoV-2 outbreak. To maintain their market position, they are offering significant discounts on their services to the clients.
Going forward, the cloud video streaming market is observing a substantial boom since the advent of COVID-19, since the growing prevalence of social distancing and self-quarantine rules has led to more use of services such as Zoom and Netflix, to name a few. Another factor that has aided market growth in recent times is the rising use of computer devices like laptops, tablets, smartphones desktops, smart TVs, and more.
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Primary Drivers and Main Barriers
Some of the latest Innovations in the tech world like Artificial Intelligence and blockchain technology have improved cloud video streaming quality, which has led to higher demand in the global market. AI is one of the most significant technologies used in cinematography, editing, scriptwriting, voice-overs, and various aspects of video production as well as upload. Over the years, the popularity of video streaming platforms such as Netflix, Amazon Prime and YouTube has soared significantly, which is yet another growth booster in the market.
The cloud video streaming market also stands to profit from the increasing consumption of mobile phones, tablets, laptops and more, because of the mounting popularity of various social media platforms along with digital mediums for marketing, advertising and branding.
The market can be presented lucrative opportunities in the education sector, given the easy access and rising consumption of online content, higher deployment of mobile phones, and the rising internet use. Cloud video streaming services in the education industry help improve the learning process, including visual recordings of courses and webinars. As a result, schools, colleges and universities are increasingly developing multimedia content, which can be delivered as video presentations with the help of cloud video streaming technology.
Market Segmentation
Cloud based video streaming market has been considered for media player, service, streaming type, cloud deployment and vertical.
The media player-based segments are Adobe Flash Player Adobe AIR, JW Player and iOS media player.
The services available in the global market are managed and professional services.
Streaming types studied in the report include video hosting, video on demand streaming and live streaming.
The verticals deploying the services are education, media entertainment, government, healthcare, and others. Cloud video streaming services are gaining impetus majorly in the healthcare and education sector, post the outbreak of COVID-19. Many of the leading market players are offering their services to those who are in urgent need due to the crisis. For instance, in March 2020, Vonage launched multiple cloud video streaming solutions for companies that have to work remotely during the lockdown era post the novel coronavirus. These solutions cater to the health care professionals as well as educators who have to provide online learning courses.
Leading Contenders
Leading contenders identified in the report are Adobe Systems Incorporated (U.S.), Forbidden Technologies (U.K.), Akamai Technologies, Inc. (U.S.), Sorenson Media (U.S.), Amazon Web Services (U.S.), Encoding.Com (U.S.), A-frame (U.K.), Haivision (U.S.), Microsoft (U.S.), to name a few.
Regional Insight
Regional distribution of the cloud video streaming market covers North America, Asia Pacific or APAC, Europe, and RoW/Rest of World.
North America is slated to remain the winner in the global market during the evaluation period, as a result of the high adoption of superior quality marketing techniques to boost business. Also, the increasing consumption of analytics in the cloud marketing platform induces business growth in the region. The high implementation rate of modern technologies in various sectors including education also favors the market here.
APAC seems to be the fastest gainer in the global market, thanks to the technological advancements frequently taking place in India and China. The surge in urbanization, industrial advancements, expanding educational sector and business expansion some of the biggest growth inducers in the cloud based video streaming market in APAC. A massive number of small medium enterprises are headquartered in the region, which fuels the demand for cloud video streaming services.
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