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Soaring Number of Internet Users Fueling Video Streaming Service Demand

The International Telecommunication Union (ITU) states that in 2019, there were around 4 billion internet users across the world. The increasing penetration of the internet, especially in India, Iran, South Korea, and South Africa, is encouraging more people to opt for video streaming services. For instance, according to the World Economic Forum, the number of internet users in the Democratic Republic of Congo (DRC) increased by 9 million, or 122%, between 2019 and 2030.

Furthermore, the organization estimated that the population of internet users in India surged by 128 million, or 23%, during 2019–2020. Additionally, the surging popularity of over-the-top (OTT) platforms will help the video streaming market progress at a robust CAGR of 19.1% during 2019–2024. The market revenue stood at $245.3 billion in 2018, and it is expected to reach $688.7 billion by 2024.



The expanding subscriber base of OTT platforms, such as Netflix, Amazon Prime, YouTube, Hulu, and Disney+Hotstar, in the U.S., the U.K., Canada, Germany, and the Philippines can be credited to the rising adoption of smart TVs and reducing number of pay TV users. Moreover, the rising penetration of social media platforms, such as Facebook, will boost the adoption of video streaming services in the foreseeable future.

Over the years, video content has become a significant part of social media platforms due to the increasing internet speed and penetration. According to the World Economic Forum, as of July 2020, there were 3.96 billion social media users worldwide. As per another report, around 3.91 billion people accessed social media platforms through their mobile phones between July 2019 and July 2020.

This market research report provides a comprehensive overview of the market
  • The future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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