According to a new report by Million Insights, the Asia Pacific video streaming market size is anticipated to touch USD 31,054.1 million by the end of 2025. The market is projected to exhibit a CAGR of 20.7% over the forecast duration. Increasing preferences for on-demand video content coupled with increasing consumption of online consumption of videos through online platforms are anticipated to bode well for the growth of the market. Owing to the shift from traditional media to digital one, there has been significant growth in media consumption in Asia Pacific.
Growing penetration of smart phone and easy accessibility of data in countries such as China, India, Japan and Australia are bolstering the growth of the market. Additionally, soon-to-come 5G technology is projected to supplement the consumption of video content in high quality, thereby, spurring market growth.
Easy availability of high-speed internet in Asia Pacific countries is positively affecting APAC video streaming market growth. The increasing number of users consuming video and audio content has led to a rise in consumption of data. Further, the demand for consumer electronics and connected devices that can support high-speed internet and digital media has increased considerably in the recent past.
The media content creation has witnessed a significant change in the recent past as traditional TV contents have changed to online digital content. Online videos content providers such as Amazon, Hulu and Netflix are becoming increasingly popular among users. These players are also creating content in different language in order to attract a large number of consumers. India with its multi-lingual culture offers a lucrative opportunity for key players.
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Further key findings from the report suggest:
• Based on solution, the OTT category is projected to expand at the fastest rate over the forecast period.
• Owing to the increasing number of gamers, the gaming console division is estimated to grow at a significant pace over the forecast duration.
• Favorable government initiatives aimed at speeding up digitalization is likely to have a positive impact on the market.
• Emerging countries such as India and China are estimated to crucial for the market growth as these countries are witnessing a rapid rise in online content consumption.
Million Insights has segmented the Asia Pacific video streaming market on the basis of streaming, solution, platform, service, revenue model, deployment, user, application, and country:
Asia Pacific Video Streaming Outlook (Revenue, USD Million, 2014 - 2025)
• Live Video Streaming
• Non-linear Video Streaming
Asia Pacific Video Streaming Solution Outlook (Revenue, USD Million, 2014 - 2025)
• Internet Protocol TV
• Over the Top (OTT)
• Pay TV
Asia Pacific Video Streaming Platform Outlook (Revenue, USD Million, 2014 - 2025)
• Gaming Consoles
• Laptops & Desktops
• Smartphones & Tablets
• Smart TV
Asia Pacific Video Streaming Service Outlook (Revenue, USD Million, 2014 - 2025)
• Managed Services
• Training & Support
Asia Pacific Video Streaming Revenue Model Outlook (Revenue, USD Million, 2014 - 2025)
Asia Pacific Video Streaming Deployment Outlook (Revenue, USD Million, 2014 - 2025)
Asia Pacific Video Streaming User Outlook (Revenue, USD Million, 2014 - 2025)
Asia Pacific Video Streaming Application Outlook (Revenue, USD Million, 2014 - 2025)
• Real-time Entertainment
• Web Browsing & Advertising
• Social Networking
Asia Pacific Video Streaming Country Outlook (Revenue, USD Million, 2014 - 2025)
• South Korea