Asia Pacific Video Streaming Market Share And Industry Growth Report By 2025

Felton, California , USA, Feb 03, 2021 — /EPR Network/ — 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.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/asia-pacific-video-streaming-market/request-sample 

Impact of COVID-19

Covid-19 has positively affected the growth of this market. Owing to the lockdown imposed by several governments following the pandemic outbreak, people were forced to stay at their homes. The data consumption and demand for video streaming services have increased as people are quarantining themselves at their home. Time spending on social media has increased by over 20% during this pandemic, which, in turn, has positively affected the market growth. Further, people spending on subscription-based video platforms have increased considerably owing to the closure of cinema halls and multiplexes. Additionally, the education sector has witnessed a rapid surge in the demand for video contents as schools and colleges have stopped their operations.

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.

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.

Asia Pacific Video Streaming Market: Key Players

Google Inc., Tencent, Netflix, Inc., iQIYI, Inc., Amazon Web Series, Inc., and Microsoft Corporation. 

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