New research from Allied Market Research suggests the global video streaming market will reach $149.34 by 2026.
According to the report, an increase in live streamed content, rising adoption of Cloud-based video streaming solutions, surge in popularity of video game streaming services, extensive use of videos in corporate training, and upsurge in demand for online videos in developing economies, will lead to the growth in the streaming market.
Growing popularity of online streaming via the likes of YouTube, Netflix and Amazon Prime Video has boosted the growth of the segment, said the report.
Pay-TV is also expected to continue to dominate the market over the next six years, while OTT will grow at the fastest CAGR of 25.2 per cent throughout the forecast period. The availability of differentiated content across different regions is anticipated to drive the growth of the segment.
Finally, the report suggested that on-premise based video streaming solutions for content management, media processing, storage, decision making and others will generate a significant portion of the market, while Cloud is projected to register the fastest CAGR of 21.7 per cent during the study period.