Cloud-based streaming service is a technology that allows access a large collection of information without the need for permanent data transfer to and from a device or system. In cloud-based streaming services, information or content is continuously delivered to the end-user by the service provider over the internet. In this service, digital data is transferred to the user’s device in the form of digital packets. Cloud-based streaming services often operate on a client-server model in which streaming media, audio, and video content is encoded and compressed in a special format in order to transfer it without interruption. Several streaming service providers are delivering end-to-end live video streaming of digital information such as events, news, and sports content. Additionally, cloud-based streaming services also offer recording functionalities, which use the cloud server to store information, allowing the end-user to consume the content multiple times. Providers are emphasizing on delivering digital content in a high quality format such as high definition, ultra-high definition, and 4K due to rapid technological developments.
The rapid consumption of cloud-based streaming services is primarily driven by the rising penetration of internet services across the world. Furthermore, major telecom operators across countries such as Germany, Poland and India are emphasizing on implementation of fast broadband network and delivering advanced network services such as voice over internet protocol (VoIP), which in turn is boosting the expansion of cloud-based streaming services.
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Additionally, the rise in number of smartphone users across the world is propelling the expansion of streaming services. Furthermore, the increasing demand for immediate and ubiquitous access to the content is also driving cloud-based streaming services market. The importance of environmental footprint of digital content distribution is increasing across industries.
This is anticipated to exhibit a positive impact on the market, as cloud-based streaming services help reduce the environmental footprint of digital content. Moreover, with fast technological developments, many companies emphasizing on taking leverage of a cloud-based streaming services. Consequently, several service providers are delivering internet-based collaborative business models and administrative models across the industries. However, a significant challenge faced by cloud-based streaming services is the availability of internet, internet service is obligatory in order to consume these services. Moreover, various policies and regulations designed by governments associated with cyber security and content are limiting the wide distribution or streaming of digital content.
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Similarly, piracy and license violations of digital content is a major restraint for the expansion of streaming services. However, a fine fettle penetration of 5G technology and increase in adoption of 4G/ LTE across the countries are anticipated to offer prominent opportunities for cloud-based streaming services in the near future.
The global cloud-based streaming services market can be segmented based on streaming type, end-use industry, and subscription model. Based on streaming type, the cloud-based streaming services market can be classified into live video streaming, video on demand, audio-only streaming, IP camera streaming, virtual reality (VR) and 360° streaming, and chat. Based on end-use industry, the market can be categorized into education, IT enterprises, government, sports, media & entertainment, and others, which includes healthcare, and tourism.
Among these end-use industry segments, rising adoption of cloud-based streaming services across education and tourism industries is anticipated to offer lucrative opportunities during the forecast period. Based on subscription model, the cloud-based streaming services market can be classified into free to air model, premium model, and hybrid model. , The market in Europe and Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in penetration of cloud services, strong network coverage, and presence of established players in these regions.
Rising penetration of internet-based applications and increasing number of smartphone users have prompted several regional and global players to enter into the cloud-based streaming services market. Major players operating in the cloud-based streaming services market include Wowza Media Systems, LLC, Streambox, Netflix, Inc.; AT&T, Inc.; Amazon.com, Inc.; Hulu LLC, Google, Inc.; Sling TV, YouTube LLC, CBS Corporation, FuboTV, Canalplay, and Maxdome GmbH.
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