Video Streaming Market Trends

Growth Drivers

• Increased Internet Users Across Worldwide – The ongoing innovations and technological advancements are expected to increase the adoption rate of internet users. The seamless internet is expected to increase the number of internet users and meet the expectations for exceptional video quality, performance, and security. A recent studies suggest that as of 2022, 69% of the world’s population actively use internet, which is equivalent to approx. 5 billion people. Further, this number is projected to increase to almost 8 billion users by 2030.
• Adoption of Smart Devices - In 2022, the number of smartphone users in the world today is 7 billion, which translates to 84% of the world’s population owning a smartphone.
• Penetration of IoT (Internet of Things) Devices – The latest reports shows that the number of Internet of Things (IoT) devices across the world is forecasted to almost tripled 10 billion in 2020 to 30 billion in 2030.
• Increased Preference of Streamed Video – A latest data revealed that in 2021, online videos had an audience reach of 90% among all the internet users worldwide.
• Rising Digitization – Lately, it was calculated that almost 60% of global Gross Domestic Product (GDP) is anticipated to be digitized by 2022. Also, till 2018 companies all over the world has invested more than 1 trillion on digital transformation efforts.

Challenges

• Rising Problems with Privacy and Security
• Increased Issues with Copy Rights
• Absence of Seamless Internet Throughout the World