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Oct 13, 2020 11:50 AM ET

Rising Smartphone Penetration in North America Driving Video Streaming Market


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iCrowd Newswire - Oct 13, 2020

The global video streaming market is predicted to be valued at $688.7 billion by 2024, increasing from $245.3 billion in 2018, progressing at a 19.1% CAGR during the forecast period (2019–2024). The major factors leading to the growth of the market are the rising popularity of social media platforms and surging penetration of internet. On the basis of type, the market is divided into non-linear and linear, between which, the linear division accounted for the larger share of the market in 2018.

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A large number of users prefer using linear video streaming services, as it provides access to a wide range of channels and content. The non-linear division is projected to witness the higher CAGR during the forecast period, owing to the innovations in the telecom infrastructure and technological advancements, which are paving way for scalable and definite content for consumption. Individual viewership is offered via these platforms, which further provide the comfort of watching things as per one’s convenience.  

This market research report provides a comprehensive overview of the video streaming market

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The rapidly increasing popularity of social media platforms is a key driving factor of the video streaming market. For example, the video content on social platforms such as YouTube registered robust growth of 99% in 2017. The improving internet speed and connectivity and the growing number of social media users then are predicted to the growth of the market in the coming years. At the present time, more than 40% of the worldwide population is using social media platforms and the number will further rise in near future, thereby driving the market. 

Geographically, the video streaming market was led by North America in the past, and the region occupied approximately 40% revenue share of the market in 2018. The increasing availability of content in smartphones is a key reason for the growth of the regional market. The Asia-Pacific region is expected to grow at the fastest pace during the forecast period, owing to the surging penetration of smart devices, including smartphones, tablet PCs, laptops, and smart TVs, in the region. 

The research includes detailed analysis of;

Market Segmentation by Type

Market Segmentation by Offering

Market Segmentation by Platform

Market Segmentation by Deployment

Market Segmentation by Revenue Model

Market Segmentation by End User

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