Global mobile video services market to be worth $30 Billion by 2017
Editor ©RapidTVNews | 10-11-2011 Deployment of high-speed networks, availability of appropriate devices that enable users to download and play videos and compelling data plans are set to cause a spike in the mobile video industry.
Indeed according to Global Industry Analysts (GIA), the global market for mobile video services is projected to reach $30 billion by 2017 with video and TV services emerging as lucrative market segments potentially generating several billions of dollars for service providers, worldwide.
The analyst believes that content providers are set to cash in on this demand, from independent developers to Hollywood studios who are beginning to develop content especially for mobile devices. Improvements in quality of content, content protection and delivery frameworks are expected to boost market prospects for mobile video services over the next few years.
The “Mobile Video Services: A Global Strategic Business Report” found that the multicast video services market represents the fastest growing service segment in the US mobile video services market with revenue waxing at a CAGR of about 38.7% over the analysis period.
Despite the continued inclement economic times, GIA expresses confidence that consumer interest on downloading and streaming mobile video and mobile TV content remained largely unchanged during the recession period, proving that compelling entertainment was left uncompromised even amidst tight economic conditions.
GIA concludes that mobile users are graduating towards a richer, and more sophisticated mobile experience and that the market for video delivery has and will continue to remain opportunity-rich, and dynamic. It adds that growth will be driven by introduction of novel video services, particularly content on YouTube and growing adoption of live TV services such as live news, weather forecasts and music programmes.