The global online streaming platform market is anticipated to reach value of ~US$ 22 Bn by 2030. The online streaming platform market is projected to expand at a CAGR of ~12% from 2020 to 2030 in terms of revenue. Growth of the online streaming platform market is due to the rising adoption of online streaming platforms, as they supply real-time content, providing multiple benefits to viewers across the globe, which in turn has triggered growth of the market globally. Over the forecast period, North America is anticipated to emerge as the leading online streaming platform market, followed by Europe and Asia Pacific.
Increase in Availability & Supply of Real-time Content
Media consumption is increasing due to increasing availability and supply of real-time content and a rise in the number of devices capable of supporting digital media. Therefore, popularity of digital media players such as Netflix, Hulu, Amazon Prime, Hotstar, Roku, and Boxee is currently increasing and they are the main entertainment hubs. Online streaming platforms are gradually gaining popularity, as people are preferring online streaming services rather than traditional TV, in order to receive real-time content. An increasing number of online streaming platforms are being introduced every day.
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The growth of online streaming platforms has provided multiple benefits to viewers, as these platforms can be experienced wherever the users want to. People can choose different devices such as tablets, smartphones, and laptops in order to watch live events and real-time content. This in turn is expected to be a major factor that drives the online streaming platform market across the globe.
Growing availability of real-time content is also estimated to boost user demand as well as developments in networks, which in turn is anticipated to propel the global online streaming platform market.
Online Streaming Platform: Market Segmentation
The global online streaming platform market has been segmented in terms of service, application, and region. Based on service, the online streaming platform market has been classified into SVOD (subscription-based video on demand), TVOD (transactional-based video on demand), and AVOD (advertisement-based video on demand). Among applications, the media segment dominated the global online streaming platform market in 2019.
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Online Streaming Platform Market: Regional Outlook
In terms of region, the global online streaming platform market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the online streaming platform market during the forecast period. The U.S. is estimated to hold a notable share of the market in North America and the market in the country is projected to expand at a CAGR of 15.3% during the forecast period, due to the high penetration rate of online streaming platforms due to its large subscriber base connected through multiple platforms. Asia Pacific held a substantial share of the global online streaming platform market in 2019 with China, India, and Japan being the major markets in the region. The online streaming platform market in Europe, Middle East & Africa, and South America is also projected to expand moderately over the forecast period.
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The report provides in-depth segment analysis of the global online streaming platform market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the online streaming platform market.
Online Streaming Platform Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global online streaming platform market. Key players profiled in the report include Dacast, Muvi LLC, Netflix, Inc., Dailymotion, Ustream (IBM Cloud), Vimeo, LLC, Disney+ Hotstar, YouTube (Google), SpotX, Inc., and Amazon.com, Inc. (Amazon Prime).
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