Increasing Penetration of Smartphones with Quality Resolution to Add Impetus to Market
The advent of digitalization into entertainment media is a significant factor in boosting this market. In addition to this, the penetration of smartphones and the increasing popularity of live videos are also propelling the video streaming market growth. Furthermore, due to the outbreak of COVID-19, people are choosing to stay safe at home. Besides video streaming for entertainment purposes, many educational and medical institutions are adopting this medium to continue serving the public interest, education, and welfare, thereby aiding in the expansion of the market.
On the contrary, latency and bandwidth issues and unauthorized platform may pose a significant challenge to the market, both in terms of poor quality video and loss of personal and financial details. Nevertheless, the drastic increase in the number of over-the-top (OTT) platforms and subscribers are likely to create lucrative growth opportunity in the future.
Key Industry Developments of the Market include:
October 2019- Marketo Engage and Brightcove Inc. entered into a partnership for incorporating video content into their marketing strategies.
June 2019- Tencent, a China-based company launched a video streaming service called WeTv in Thailand, wherein Chinese content was streamed under Thai dubbing.
Fortune Business Insights™ lists out the names of players providing these services in this market. They are as follows:
• Wowza Media Systems, LLC
• Walt Disney Company
• Roku, Inc.
• Netflix, Inc.
• Kaltura, Inc.
• IBM Corporation
• Google LLC
• Cisco Systems, Inc.
• Brightcove, Inc.
• AT&T, Inc.
• Apple, Inc.
• Amazon.com, Inc.
• Akamai Technologies