Best of Web: Video Streaming Industry To Reach $70.5 Billion By 2021
CXOtoday | by CXOtoday News Desk | May 6th, 2016
As per the research firm Markets and Markets, the global video streaming market will touch $30.29 billion in the year 2016 and is poised to touch $70.05 billion by the year 2021, growing at a CAGR rate of 18.3 percent.
A report published by the research firm in this regard suggests that video streaming is growing progressively and is being driven by on-demand videos, advertisements, streaming of live events etc.
A rise in the penetration of smart phones and high speed mobile networks has also catalyzed the growth of the video streaming segment.
‘’There has been a rise in the adoption of video streaming solutions such as pay TV,Internet Protocol Television, and OTT among marketing companies. Video streaming solutions facilitate instant access to information to customers through videos, advertisements, and other video clips thereby increasing the organizational productivity,’’ said the research firm.