12 May 2021
Visiongain has published a new report on Asia-Pacific Video Streaming Market Report to 2031: Forecasts by streaming type (Live Video Streaming, Non-linear Video Streaming), by platform (Gaming Consoles, Laptops & Desktops, Smartphones & Tablets, Smart TV, Others), by application (Real-time Entertainment, Social Networking, Gaming, Web Browsing & Advertising, Others). PLUS Profiles of Leading Video Streaming Companies and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios
Asia Pacific video streaming market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Streaming is a process of viewing video also, listening to audio contents. It helps in saving time on buffering by enabling the content to be viewed online, rather than saving it to a device. Moreover, the streaming video companies provide a dynamic network environment having multiple formats & different languages in the market. With having huge digitally-savvy population & rising user base of online content platforms in the region, the key players are financing content in regional languages and providing real-time entertainment services.
Factors such as rise in access to high-speed 3G, 4G, and LTE internet services, increased demand for viewing on-demand videos, and rapid shift from traditional media to digital media are some of the major factors fuelling the market growth. Conversely, increased development in high-speed internet technologies and untapped potential in the emerging economies are becoming some of the major factors expected to boost the demand for video streaming in Asia Pacific region.
COVID-19 Impact on Asia Pacific Video Streaming Market
The unprecedented rise of COVID-19 health crisis has severely disrupted the video streaming market in the region. Due to complete lockdowns & shutdowns guidelines imposed by country governments, consumers have implemented & adopted indoor media & entertainment sources during the pandemic situation. Moreover, in order to minimize physical contact, huge population staying indoors and therefore online video streaming demand has increased tremendously in the region.
Rise in access to high-speed 3G, 4G, and LTE internet services
With changing customers’ preferences towards internet speed & awareness towards advance technologies, the video streaming content providers and network operators are continuing to expand the online contents in the market. Therefore, this increased availability of high-speed 3G, 4G, and LTE internet services is driving the market growth.
Increased demand for viewing on-demand videos
Subscription Video on Demand (SVoD), Video on Demand (VoD), Transactional Video on Demand (TVOD), and Ad-based Video on Demand (AVOD) are some of the major on-demand videos in the market. These increased choices and needs for on-demand videos are accelerating the video streaming market growth in the region.
Increased development in high-speed internet technologies
Advent of 5G network and easier access to internet are becoming major factors, boosting the demand for video streaming market in the region. As consumers are receiving high speed internet services, due to increased investment & support from country governments to boost the growth of video streaming market.
Untapped potential in the emerging economies
Emerging economies such as China, India, Japan, Singapore, among others are expected to create an immense opportunities to the market. As consumers in these countries are increasingly demanding for video contents largely for entertainment & education purposes. This, as a result will help key players in expanding their business to the large untapped market.
Some of the companies profiled in the report include Amazon.com, Inc., Disney+, Google, HOOQ, Hotstar, Iflix, iQIYI, Inc., Microsoft, Netflix, Inc., and Tencent.
In June 2019, Tencent which is a Chinese tech giant has launched its first overseas video streaming service in Thailand. In addition, the new product enabled content with Thai dubbing created with local partners.
In September 2019, Gojeck, which an Indonesian ride-hailing giant launched a video streaming service called GoPlay. The video streaming service provides an access to multiple TV shows & movies and snackable short clips.
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