MEDIA STREAMING MARKET Challenges and Opportunities

One of the key challenges currently being faced by the media streaming market is data congestion issues. As more and more users are opting for media streaming services over traditional cable/satellite TV, the amount of data being consumed through these services is rising exponentially. However, the current internet infrastructure in many parts of the world may not be equipped to handle this massive data load. During peak hours, internet speeds tend to drop significantly as the available bandwidth gets saturated. This leads to buffering issues, delayed/interrupted streaming and poor user experience. While service providers are enhancing their networks, there is still some way to go before data congestion is not a major problem. Unless networks are upgraded substantially, data congestion will remain a roadblock in further growth of media streaming.

Market Opportunity: Growth in Connected and Internet-enabled Devices Boosts Market Developments

One of the biggest opportunities for the media streaming market is the sharp rise in the number of connected and internet-enabled devices. Earlier, media streaming was limited to desktops/laptops and smartphones. However, with improved connectivity and powerful mobile chipsets, even non-traditional devices like smart TVs, gaming consoles, digital media players and smart speakers now allow for media streaming. Consumers want access to content anywhere, anytime and on any device. This increasing device proliferation is spurring greater media consumption via streaming. As per estimates, the number of internet-connected devices worldwide will grow from around 25 billion currently to over 75 billion by 2025. With ubiquitous connectivity across platforms, the opportunities for media streaming are immense. Service providers can leverage this connectivity revolution to boost subscriber base and revenues.