Blog Post by Charlie Kraus, Senior Product Marketing Manager
March 2, 2021
The appetite for the highest quality video streaming experiences, the prospect of new and innovative technologies, and a global pandemic have created a perfect storm in the evolution of video streaming. And these new video streaming trends are driving new use cases and more compelling user experiences.
In 2019 the market for video streaming was $4.4 billion but is now expected to grow almost 22% to $11.9 billion by 2024. This growth is fueled primarily by the demand for content and video streaming CDN capacity, which has experienced a 30% increase in traffic per month since the start of the pandemic. This level of traffic growth is typically absorbed in a 12–18-month period. IDC forecasts that internet traffic across video streaming CDNs will only increase from here.
The IDC Technology Spotlight, sponsored by Limelight Networks, The Evolution of Video Streaming summarizes which key video streaming benefits drive the appetite for video streaming services, most of which can be enabled by robust content delivery networks and ultimately innovation at the network edge. Their prediction is over 50% of new enterprise IT infrastructure will be deployed at the edge versus in corporate data centers by the end of 2023
So how will this impact viewers? Trends in video streaming, along with innovative technologies that make them possible, create compelling new use cases and business opportunities for video providers. Highly interactive live and on-demand offerings, customizable content, and latency-sensitive applications will be central to the next wave of video streaming. Although some challenges exist, the IDC Technology Spotlight explains what’s driving these trends and which technologies offer the most potential for future growth in both consumer-related and enterprise-related use cases.
The bottom line: The future for innovative video streaming technology is bright. Learn more from IDC here.