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Video Streaming Market Size To Surpass $184.3 Billion By 2027 – New Technological Advancements in Artificial Intelligence And Blockchain | Million Insights
Published: Aug. 31, 2020 at 11:59 p.m. ET
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The MarketWatch News Department was not involved in the creation of this content.
Aug 31, 2020 (AB Digital via COMTEX) -- The global Video Streaming Market is projected to attain USD 184.3 billion by the end 2027, according to a new report released by Million Insights. The market is anticipated to expand at a CAGR of 20.4% throughout the forecast period, 2020 to 2027. Increasing advancements in technology like artificial intelligence and blockchain technology is the major driving force for the growth of this market. Moreover, rising penetration of smartphones for online video streaming at remote locations is anticipated to further drive the market.
OTT Description
An over-the-top media service is a media service offered directly to viewers via the Internet. OTT bypasses cable, broadcast, and satellite television platforms: the types of companies that have traditionally acted as controllers or distributors of such content.
Cloud-based streaming services are gaining popularity among the large consumer base owing to improved data accessibility. Moreover, Asia Pacific and North America are the largest market for video streaming owing to rising popularity of over-the-top (OTT) solutions, rising number of subscriptions, increasing disposable income levels, growing trend of mobile video streaming at remote locations and increasing digitalization.
To download the sample PDF of “Global Video Streaming Market” please click here: https://www.millioninsights.com/industry-reports/global-video-streaming-market/request-sample
Factors such as availability of high-speed internet plans at low cost and increasing popularity of on-demand video streaming is anticipated to drive the market growth. In addition, rising demand for digital media for easy accessibility of data is projected to propel the growth of the market over the forecast period. On the basis of solution, the market is categorized into pay-TV over-the-top (OTT), and internet protocol TV. The OTT segment is gaining high popularity among the consumers owing to free delivery of TV and film content through internet.
The segment of tablets and smartphones accounted for the largest video streaming market share in 2019 owing to factors such as portability, easy data accessibility, availability of high-speed internet at low costs, changing lifestyles of people, and rising demand for mobile video streaming. However, smart TV segment is projected to grow at the fastest rate owing to availability of TV channels and video streaming services like Amazon Prime and Netflix on a common platform. On the basis of revenue model the segment of subscription model accounted for the largest market share and is anticipated to grow significantly from 2020 to 2027 owing to availability of different video streaming solutions and cheaper monthly and annual subscription plans.
To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/global-video-streaming-market
Further key findings from the report suggest:
• The education and academic sector is opting to video learning methods which is anticipated to propel the demand for video streaming services
• The segment of OTT solutions accounted for the largest market share in 2019 and is projected to attain the fastest growth from 2020 to 2027
• Asia Pacific is projected to grow significantly from 2020 to 2027 owing to rising penetration of smartphones and high-speed internet data
• Leading players operating in this industry include Amazon Web Services, Inc.; Akamai Technologies; Apple Inc.; Google; Cisco Systems, Inc.; Kaltura, Inc.; International Business Machine Corporation (IBM Cloud Video); Netflix; Wowza Media Systems, LLC; Hulu; and AT&T Intellectual Property.
Million Insights has segmented the global video streaming market based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:
Video Streaming Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Live
• Non-Linear
Video Streaming Solution Outlook (Revenue, USD Billion, 2016 - 2027)
• Internet Protocol TV
• Over-the-Top (OTT)
• Pay-TV
Video Streaming Platform Outlook (Revenue, USD Billion, 2016 - 2027)
• Gaming Consoles
• Laptops & Desktops
• Smartphones & Tablets
• Smart TV
Video Streaming Service Outlook (Revenue, USD Billion, 2016 - 2027)
• Consulting
• Managed Services
• Training & Support
Video Streaming Revenue Model Outlook (Revenue, USD Billion, 2016 - 2027)
• Advertising
• Rental
• Subscription
Video Streaming Deployment Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Cloud
• On-Premises
Video Streaming User Outlook (Revenue, USD Billion, 2016 - 2027)
• Enterprise
• Corporate Communications
• Knowledge Sharing & Collaborations
• Marketing & Client Engagement
• Training & Development
• Consumer
• Real-Time Entertainment
• Web Browsing & Advertising
• Gaming
• Social Networking
• E-Learning
Video Streaming Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• Middle East and Africa (MEA)
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About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Over-the-top media service
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An over-the-top (OTT) media service is a streaming media service offered directly to viewers via the Internet. OTT bypasses cable, broadcast, and satellite television platforms, the companies that traditionally act as a controller or distributor of such content.[1] It has also been used to describe no-carrier cellphones, where all communications are charged as data,[2] avoiding monopolistic competition, or apps for phones that transmit data in this manner, including both those that replace other call methods[3][4] and those that update software.[4][5]
The term is most synonymous with subscription-based video-on-demand (SVoD) services that offer access to film and television content (including existing series acquired from other producers, as well as original content produced specifically for the service).
OTT also encompasses a wave of "skinny" television services that offer access to live streams of linear specialty channels, similar to a traditional satellite or cable TV provider, but streamed over the public Internet, rather than a closed, private network with proprietary equipment such as set-top boxes.
Over-the-top services are typically accessed via websites on personal computers, as well as via apps on mobile devices (such as smartphones and tablets), digital media players (including video game consoles), or televisions with integrated Smart TV platforms.
Contents
Definitions[edit]
In 2011, the Canadian Radio-Television and Telecommunications Commission (CRTC), Canada's telecom regulator, stated that it "considers that Internet access to programming independent of a facility or network dedicated to its delivery (via, for example, cable or satellite) is the defining feature of what have been termed 'over-the-top' services".[6]
In contrast to video on demand video-delivery systems offered by cable and IPTV, which are tightly managed networks where channels can be changed instantly, some OTT services such as iTunes require that the video be downloaded first and then played,[7] while other OTT players such as Netflix, Hulu, Disney+ and Amazon Prime Video, offer movie downloads that start playing before the download completes (streaming).[8]
The FCC categorizes the OTT services into two groups: multichannel video programming distributors (MVPDs); and online video distributors (OVDs).[9][10]
Virtual MVPDs include such varied services as AT&T TV, fuboTV, Sling TV, Hulu with Live TV , and YouTube TV.
An OVD was defined by the FCC as:[9]
any entity that provides video programming by means of the Internet or other Internet Protocol (IP)-based transmission path where the transmission path is provided by a person other than the OVD. An OVD does not include an MVPD inside its MVPD footprint or an MVPD to the extent it is offering online video programming as a component of an MVPD subscription to customers whose homes are inside its MVPD footprint.
Background[edit]
In broadcasting, over-the-top (OTT) content is the audio, video, and other media content delivered over the Internet, without the involvement of a multiple-system operator (MSO) in the control or distribution of the content. The Internet provider may be aware of the contents of the Internet Protocol (IP) packets but is not responsible for, nor able to control, the viewing abilities, copyrights, and/or other redistribution of the content. This model contrasts with the purchasing or rental of video or audio content from an Internet service provider (ISP), such as pay television, video on demand, and from internet protocol television (IPTV).[11] OTT refers to content from a third party that is delivered to an end-user, with the ISP simply transporting IP packets.[12][13][14][15]
Types of content[edit]
This section needs expansion with: a thorough, sourced description of the types of OTT content current transmitted. You can help by adding to it. (December 2016)
OTT television, usually called online television or internet television or streaming television, remains the most popular OTT content. This signal is received over the Internet or through a cell phone network, as opposed to receiving the television signal from a terrestrial broadcast or satellite. Access is controlled by the video distributor, through either an app or a separate OTT dongle or box, connected to a phone, PC or smart television set. By mid-2017, 58 per cent of US households would access one in a given month and advertising revenues from OTT channels exceeded those from web browser plug-ins.[16]
The record of simultaneous users watching an OTT event was set at 18.6 million by Disney's Indian video streaming platform Hotstar.[17]
OTT messaging is defined as instant messaging services or online chat provided by third parties, as an alternative to text messaging services provided by a mobile network operator.[18][19] An example is the Facebook-owned mobile application WhatsApp, that serves to replace text messaging on Internet connected smartphones.[20][21] Other providers of OTT messaging include Viber, WeChat, FaceTime, Skype, Telegram and the now defunct Google Allo.[22]
OTT voice calling, usually called VoIP, capabilities, for instance, as provided by Skype, WeChat, Viber, and WhatsApp use open internet communication protocols to replace and sometimes enhance existing operator controlled services offered by mobile phone operators.[citation needed]
Modes of access[edit]
Consumers can access OTT content through Internet-connected devices such as phones (including Android, iOS, and Windows-type mobile devices), smart TVs (such as Google TV and LG Electronics' Channel Plus),[23] set-top boxes (such as Apple TV, Nvidia Shield, Fire TV, and Roku), gaming consoles (such as the PlayStation 4, Wii U, and Xbox One), tablets, and desktop and laptop computers. As of 2019, Android and iOS users make up more than 45% of the total OTT content streaming audience, while 39% of users use the web to access OTT content.[24]
See also[edit]
· List of Internet television providers
· Multichannel television in the United States
· YuppTV
References
How do you seize a trillion-dollar opportunity?
The potential size of the post-5G telco services market is estimated at more than $2 trillion. That’s a powerful reason to pursue 5G transformation at full speed. But doing so requires a complete rethinking of traditional operations to overcome today’s limits of customer value creation, network capacity and operational complexity — and that’s raising some key questions for service providers.
5G is expected to enable extraordinary experiences to consumers and enterprises alike, from immersive entertainment to machine remote control. Many of these new services will require a partner ecosystem and new business models, which means changes to people, processes and tools must be part of the shift to monetize 5G. Better visibility to the customer and their touchpoints will also be required, with service provider employees being one of the touchpoints that must be enhanced.
Bringing these factors together will allow service providers to get their share of the estimated $2 trillion 5G market and ensure long term loyalty of their customers.
Consumers are ready for 5G Fixed Wireless Access but have high expectations for a smooth and easy experience. Learn how you can offer a great experience across the journey, from targeting the right subscribers, offering an easy self-install process and proactively resolving issues in order to differentiate your brand, boost revenue and loyalty.
How do you seize a trillion-dollar opportunity?
The potential size of the post-5G telco services market is estimated at more than $2 trillion. That’s a powerful reason to pursue 5G transformation at full speed. But doing so requires a complete rethinking of traditional operations to overcome today’s limits of customer value creation, network capacity and operational complexity — and that’s raising some key questions for service providers.
5G is expected to enable extraordinary experiences to consumers and enterprises alike, from immersive entertainment to machine remote control. Many of these new services will require a partner ecosystem and new business models, which means changes to people, processes and tools must be part of the shift to monetize 5G. Better visibility to the customer and their touchpoints will also be required, with service provider employees being one of the touchpoints that must be enhanced.
Bringing these factors together will allow service providers to get their share of the estimated $2 trillion 5G market and ensure long term loyalty of their customers.
Consumers are ready for 5G Fixed Wireless Access but have high expectations for a smooth and easy experience. Learn how you can offer a great experience across the journey, from targeting the right subscribers, offering an easy self-install process and proactively resolving issues in order to differentiate your brand, boost revenue and loyalty.
Netflix remains the world's largest subscription streaming service with roughly 190 million paid subscribers worldwide, enjoying 125 million hours of TV shows and movies each day. The company's competition could steal market share—namely Amazon, whose Prime Video service is cheaper and boasts 150 million subscribers.May 16, 2020. . Netflix uses AWS for nearly all its computing and storage needs, including databases, analytics, recommendation engines, video transcoding, and more—hundreds of functions that in total use more than 100,000 server instances on AWS.
for More information about Amazon Web Services visit https://www.rackspace.com
Why Amazon and Netflix chose Rack Space for their Video Servers, Transmission, and live-streaming.
Impact of Video Streaming on Theatrical Release
This is an Important Topic that deserves serious debate as it affects all our careers and most people’s viewing habits. People tend to take the path of least resistance, preferring habits that encourage inertia and the least amount of effort, while offering the same benefit – in this instance, the emotional aspect of the viewing experience.
Is there really more of a thrill in numbers, viewing in the company of a large audience of strangers than just with one’s friends or family? Consumers will have to decide if the cost benefit of a 4k screen justifies giving up movie theaters. Television and the silver screen did not eradicate theatrical plays. But it can be said that far more people watch TV or frequent AMC and Regal Entertainment Group theaters than go to Broadway. It is possible theater chains will survive but be forced to cater to a smaller, more affluent audience with much higher quality projection and screens than currently exist, and at significantly greater cost to moviegoers.
Now with Time Warner, AT&T starts streaming TV service The Future of Video Streaming.
AT&T details plans for asset sales, three-tiered Netflix-style streaming service
The company's chief financial officer said the company could sell its 10 percent stake in Hulu as part of its asset sales.
AT&T plans three streaming options in its war with Netflix
http://www.spokesman.com/stories/2018/nov/30/att-plans-three-streaming-options-in-its-war-with-/
Beyond Industry 4.0: The trends that are powering the digital revolution in defense
By YVONNE HODGE, SENIOR VICE PRESIDENT, ENTERPRISE BUSINESS TRANSFORMATION AT LOCKHEED MARTIN
09/14/2020 11:45 AM EDT
·
The digital revolution is here.
Industry 4.0 advancements are revolutionizing manufacturing and production in many industries. But for defense systems, manufacturing is just the beginning. As Lockheed Martin accelerates its ongoing transformation with cutting-edge technologies and new ways of working, it’s looking at the big picture.
To achieve truly disruptive innovation, we have to think holistically about transformation. Above all, our customers’ missions matter most. Mission-driven transformation looks not just at internal operations, but at the way new innovations enable the joint all-domain operations capabilities our customers need.
The Department of Defense is pursuing a holistic transformation strategy and challenging industry to do the same. For example, Dr. Will Roper, the Assistant Secretary of the Air Force for Acquisition, Technology and Logistics, has described a digital “trinity” of digital engineering, advanced software development and modular, open-systems architectures. Lockheed Martin is aligning to those priorities to accelerate its own transformation and its support to the mission.
1) Digital and model-based engineering
Building on a years-long transformation effort, Lockheed Martin has revolutionized its approach to digital, model-based engineering, which assesses a system’s design holistically and looks at the full lifecycle, from early design concepts to manufacturing all the way through maintenance and operations. That ensures the delivered system fully supports the mission, and makes it easier to conduct strategic engineering trade-offs and manage changes. It also enables advanced approaches that are in place across the company, including:
· Design for (X), which ensures designs are optimized for both manufacturing and maintenance, and maximizes system performance.
· Digital twins that create detailed models of as-built systems that use machine learning and data analytics to “fly before you buy” – predicting performance in the field, optimizing maintenance, and streamlining production.
· Multi-discipline integration, which enables real-time analysis of multiple aspects a system’s performance, from thermal properties to aerodynamics and more. Those analyses used to occur one at a time, but with today’s high-performance computing systems, they can be run simultaneously to dramatically cut design time.
It’s not just a technology change, it’s a process and a culture change to make systems more capable and more mission-ready in the field. That optimization starts at the big-picture system level and goes all the way down to the individual part level, where production experts can shave time and costs from even the smallest part by shaping the design toward more easily-produced variations. We’re driving that transformation on programs company-wide.
For example, the StarDrive program integrates advanced computer-aided design and product lifecycle management tools into Aeronautics enterprise operations, both to accelerate design and enable greater use of robotics, 3D printing and automated quality inspections. StarDrive also allows employees to quickly link information across the supply chain, manufacturing, and design phases, increasing responsiveness to change while improving quality.
The CH-53 helicopter program has embraced digital engineering. Designs begin in 3D and are maintained through the manufacture and assembly processes. This allows design engineers and technicians to collaborate early and often through virtual reality and manufacturing plan simulations to identify and resolve issues in the build process before they arise, improving quality and avoiding costly re-work.
Lockheed Martin’s digital engineering advancements enable robotic automation on a COBRA drilling machine.
2) Next-generation software
“We’re transforming everything about the way we develop and deliver software — from tools and processes to culture and training — to drive an unprecedented level of speed, agility and quality,” said Dan Heller, vice president of Corporate Engineering at Lockheed Martin. “We’re applying more than two decades of expertise in Agile to DevSecOps, which links development, security and operations groups in an integrated and seamless team. That means we build in cybersecurity from the ground up, collect continuous feedback from users and constantly deliver new mission capabilities to warfighters, while maintaining our rigorous systems engineering discipline to ensure our delivered systems meet customer requirements and expectations.”
More than two years in development, a company-wide Software Factory combines a secure cloud infrastructure for coding with advanced tools, processes, labs and experts. A common toolkit and cloud infrastructure mean engineers can dramatically accelerate new project start-ups, getting new environments stood up in mere days.
That accelerated software development process is enabling rapid prototyping of new capabilities. Earlier this year, Lockheed Martin launched Pony Express 1, a nanosat designed to test a new software-defined architecture that will enable artificial intelligence, data analytics, cloud networking and advanced satellite communications. Pony Express was built and integrated in just nine months.
A Lockheed Martin technician uses AR to train on an assembly. AR can reduce the timeframe for complex assemblies by as much as 80-90 percent.
3) Modular, open-systems architectures enabling ubiquitous connectivity
It’s critical that defense systems can evolve as technology changes around them. Enter modular, open-system architectures. They enable rapid upgrades, the ability to quickly swap out sensors, and ensure systems in operation today, as well as the systems of the future, work together and share information to create a comprehensive view of the battlespace. Lockheed Martin is forging new partnerships to combine its mission expertise with commercial practices and technology, so it can bring the best of industry to bear for customers.
One of those commercial technologies is 5G. Imagine a network with 100 times the bandwidth and a fraction of the delay of current cellular networks — that’s the promise of 5G. For tactical forces, bridging “the last mile” and connecting warfighters at the edge has always been a tough communications challenge. Tomorrow’s 5G networks promise to deliver the bandwidth, connectivity and data to the edge.
And while staying in contact is critical, it’s the data — and its application — that’s transformational. Artificial intelligence-powered analytics will sort through that data in an instant, feeding decision-quality information from commanders to the tactical edge. And the more data the network has, the smarter it becomes, and the better it can support defense missions.
That’s the vision we’re aiming for with mission-focused transformation: a decisive mission advantage for the U.S. and its allies. Joint all-domain operations demand a holistic view of the battlespace. Creating the technology that will enable that future requires the same holistic view of technology, culture and process transformation, led by a digital-ready workforce. And that’s exactly what we’re accelerating today.
The calls to break up Big Tech are getting louder—and they’re coming from both sides of the political aisle. Senator Elizabeth Warren (D-Mass.), a presidential contender, says companies like Amazon, Facebook, and Google have too much power over our economy, society, and democracy. President Trump has said that “something is going on in terms of monopoly,” and it’s “a bad situation.”
Many Americans agree with them. They worry about the volume of personal data the tech giants possess and the sway these companies have over their lives. Facebook has 2.4 billion active monthly users. Amazon accounts for nearly 40 percent of all e-commerce spending in America. Google gets more than 92 percent of global search engine inquiries. Apple became the first company to cross the $1 trillion mark in market capitalization—a market cap larger than the GDP of Saudi Arabia.
The government is upping its scrutiny of Big Tech, which is facing sweeping antitrust investigations by the US Department of Justice, the Federal Trade Commission, and Congress. New laws could be coming too: Senators Richard Blumenthal (D-Conn.) and Amy Klobuchar (D-Minn.) introduced a bill dubbed the Monopolization Deterrence Act, which would impose harsher penalties on Big Tech companies that engage in anticompetitive practices.
And perhaps feeling this pressure, Facebook CEO Mark Zuckerberg, in an audio clip that was leaked in early October, can be heard blasting Warren’s plan to break up Big Tech companies if she’s elected president. “I don’t want to have a major lawsuit against our own government,” Zuckerberg says in a speech to Facebook employees. “It’s like, we care about our country and want to work with our government and do good things. But look, at the end of the day, if someone’s going to try to threaten something that existential, you go to the mat and you fight.”
But is it a good idea, or even possible, to split up these companies? We asked five Questrom School of Business professors about the questions—economic, political, and customer-related—we need to consider before rethinking our regulation of Big Tech.
Back in the 1880s, many companies in the United States were growing into monopolies, using anticompetitive, oppressive business practices. As a result, Congress passed the Sherman Antitrust Act in 1890, and the Clayton Antitrust Act in 1914, outlawing monopolies, cartels, and trusts—and they started picking the biggest offenders apart. The American Tobacco Company was broken up into four different firms. Standard Oil became 34 separate companies.
Those broadly worded statutes still hold up more than a century later, says antitrust expert Michael Salinger, Jacqueline and Arthur Bahr Professor of Markets, Public Policy, and Law.
“These acts were passed before we had radio, telephones, television—and yet, the principle that it should be illegal to monopolize a market through means other than providing a better product at a better price still holds true.”
But before we start smashing modern monopolies, we need to figure out if they’ve actually broken long-established antitrust laws, says Salinger, markets, public policy, and law department chair. “These companies need to have violated laws in ways in which an appropriate remedy would be to break them up. We can’t just do it because some politicians think it’d be a good idea,” he says.
If we start breaking up companies wantonly, that’s going to hurt innovation.Garrett Johnson, assistant professor of marketing
That caution is echoed by Garrett Johnson, an assistant professor of marketing: “It’s frustrating that the conversation tends to go along the lines of, ‘These companies are doing bad things, so we want to hurt them by breaking them up.’ If we start breaking up companies wantonly, that’s going to hurt innovation.”
As to whether these companies have violated antitrust laws, Salinger isn’t so sure they have.
“You have to ask how they got the market position they have,” he says. “You’re only guilty of monopolization if you’ve attained your monopoly by means other than providing a better product at a better price. Look at Google. People want to search on Google. Their search yields useful information and it’s free, so it’s no wonder they’ve got such a strong position in the market.”
One solution would be to stop companies getting too big in the first place. Timothy Simcoe, an associate professor of strategy and innovation, believes we should pay more attention to Big Tech mergers before they happen. Take Facebook and its acquisition of Instagram in 2012 and WhatsApp in 2014.
“I don’t know that those mergers got a particularly hard look—and maybe they should have,” Simcoe says. That said, he doesn’t think predicting which mergers will turn a company into a monopoly will be a simple task. “Of course, that’s easy to say and hard to do. Often, these technologies are nascent when acquisitions are proposed,” he says. He suggests tightening up merger reviews by giving more resources to antitrust agencies, and not placing a presumption of efficiency on every vertical merger.
One of the main purposes of antitrust laws is to protect competition and the market. According to Kabrina Chang (CAS’92), a clinical associate professor of markets, public policy, and law, the first step in determining whether a company has a monopoly is defining its market—something that might not be so easy to do with modern tech giants. “I don’t know what the market is with Amazon,” she says. Jokingly referring to Amazon’s acquisition of Whole Foods in 2017, she asks, “Is it groceries now?”
“What does it mean when Amazon enters healthcare or groceries, or Google enters self-driving cars?” says Marshall Van Alstyne, Questrom Professor in Management and coauthor of Platform Revolution: How Networked Markets Are Transforming the Economy and How to Make Them Work for You. “These are market adjacencies—and you want to be able to bring in high quality and innovation to adjacent industries, but you might still be relying on the market power of a firm that’s incumbent in a narrower industry. The boundaries are getting very challenging to define.”
One answer to the problem of blurry boundaries is to isolate what economists call a bottleneck resource—what gives a company its monopoly power.
“What are the joints along which you carve to get the benefits you’re hoping to get by breaking up these companies?” asks Simcoe. “Some economists suggest preventing monopoly providers from entering other industries, so for example, allowing Google to continue in search, but barring it from adjacent markets, like getting involved in airline reservations.
“If you can identify the bottleneck resource that gives them monopoly power, put that in a separate organization with a ‘must-deal-with-everyone’ sort of requirement, then you spin off all the unrelated businesses into a different unit.”
Something else that may give us pause before breaking up tech companies is how much we’ve come to rely on them. Google and Facebook have become integrated into our daily lives: the average person conducts three to four Google searches and spends 35 minutes on Facebook every day. We may be uneasy with the power of tech companies, but most of us willingly sign away our rights to get access to a service. How many times have you blindly accepted online terms and conditions?
Perhaps one of the reasons we’re so distrusting of Big Tech, Chang says, is the amount of power we’ve let these companies accumulate—over us, our data, and our democracy.
“They have immense power, and they’ve got immense influence in public discourse. There have even been Supreme Court cases that ruled that since social media is so important, it’s unconstitutional to prohibit people from using Facebook. It really is a modern public square,” she says.
Warren has argued that her plan to break up Big Tech would “give people more control over how their personal information is collected, shared, and sold” and restrict the advantages analyzing our data gives bigger, more established firms. But our data might not be the cash cow we think it is. There’s no doubt Big Tech companies make buckets of money from using our data, especially for advertising purposes—in 2018, Amazon’s ad business surpassed $10 billion and Google’s ad sales totaled $116 billion—but, says Johnson, “These high dollar amounts have caused some people to think that their data is a huge pot of gold being stolen from them by these evil companies. That’s really an overstatement of what’s going on.”
For example, on a per-consumer basis, Facebook’s global average revenue per user hovers around $25 a year—capping how much your data is actually worth. “With over two billion users, collectively, each of our $25 helps fund all of the free internet services we enjoy [from Facebook]. This notion that we are being robbed of our high-value data is really overstated, and I think that’s crucial to understand,” says Johnson.
Van Alstyne, who’s also chair of the information systems department, agrees that the use of our data isn’t always bad. “On one end is using a single user’s data in service of the goals and benefits of that particular user; for example, if you’ve got a heart condition, the doctor wants to know all the data about your previous treatments to deliver the best in the next generation of treatment. Very few people object to that; that’s exactly what should be happening. Then, on the opposite side of the spectrum, which is quite troubling, is using your data to exploit you, either through reshaping your opinions—as in the case of Cambridge Analytica [which was accused of harvesting data from Facebook to help political campaigns]—or price discriminating and charging you more.”
In Europe, regulators have pursued a privacy policy called the General Data Protection Regulation (GDPR), legislation that treats privacy as a fundamental human right, enhancing protections around personal data. “GDPR applies to all data, all forms of personal data, whether it’s extremely sensitive, like your health data, or less sensitive, like whether or not you clicked on an ad,” says Johnson. He’s studying the effectiveness of GDPR and says it’s clear that even with limitations in place, websites continue to share information on their users.
Van Alstyne thinks neither Europe nor the United States has gotten it quite right when it comes to Big Tech and data legislation. “The Europeans are a little too interventionist and quick to use government authority for privacy protection as distinct from wealth creation. By contrast, the American approach tends to be too much one of free markets and allowing firms to do as they please—and while that creates value, it also creates serious distortions of who gets to keep that value. The ideal solution is really somewhere in between, continuing to have companies create value, but taking into consideration the European approach of fair allocation.”
We need new and better economics and legislation to get this right—and to understand that the nature of creating value has shifted drastically.Marshall Van Alstyne, Questrom Professor in Management
He doesn’t think it’s enough to rely on legislation from a bygone age. “In the industrial era, we saw giant firms in energy, cars, iron, oil, and railroads. All of those were supply-side economies of scale, with high fixed costs and low marginal costs. Today, however, we’re seeing giant demand-side economies of scale with Big Tech, and specifically with platforms like Facebook and Amazon. Treating them as though they’re supply-side economies of scale gets it wrong.”
For Van Alstyne, legislation needs to consider how value—for both consumers and companies—is being created. Companies like Facebook, Apple, Google, and Amazon need to be asking how they can both yield a profit and provide beneficial products and services; should they produce their own goods or should they orchestrate those of others?
A lot of Big Tech companies have chosen the latter through what Van Alstyne calls the inverted firm, a model where the company’s focus shifts from producing value within to producing value outside of the firm, encouraging others to create on their behalf.
“In an open ecosystem, you can harness third parties,” he says. “You and I are creating the web pages, not Google. You and I are creating the posts, not Facebook. And current economists don’t understand the inverted firm. We need new and better economics and legislation to get this right—and to understand that the nature of creating value has shifted drastically.”
Advancements in Artificial Intelligence And Blockchain | Million Insights
Published: Aug. 31, 2020 at 11:59 p.m. ET
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Aug 31, 2020 (AB Digital via COMTEX) -- The global Video Streaming Market is projected to attain USD 184.3 billion by the end 2027, according to a new report released by Million Insights. The market is anticipated to expand at a CAGR of 20.4% throughout the forecast period, 2020 to 2027. Increasing advancements in technology like artificial intelligence and blockchain technology is the major driving force for the growth of this market. Moreover, rising penetration of smartphones for online video streaming at remote locations is anticipated to further drive the market.
Cloud-based streaming services are gaining popularity among the large consumer base owing to improved data accessibility. Moreover, Asia Pacific and North America are the largest market for video streaming owing to rising popularity of over-the-top (OTT) solutions, rising number of subscriptions, increasing disposable income levels, growing trend of mobile video streaming at remote locations and increasing digitalization.
To download the sample PDF of “Global Video Streaming Market” please click here: https://www.millioninsights.com/industry-reports/global-video-streaming-market/request-sample
Factors such as availability of high-speed internet plans at low cost and increasing popularity of on-demand video streaming is anticipated to drive the market growth. In addition, rising demand for digital media for easy accessibility of data is projected to propel the growth of the market over the forecast period. On the basis of solution, the market is categorized into pay-TV over-the-top (OTT), and internet protocol TV. The OTT segment is gaining high popularity among the consumers owing to free delivery of TV and film content through internet.
The segment of tablets and smartphones accounted for the largest video streaming market share in 2019 owing to factors such as portability, easy data accessibility, availability of high-speed internet at low costs, changing lifestyles of people, and rising demand for mobile video streaming. However, smart TV segment is projected to grow at the fastest rate owing to availability of TV channels and video streaming services like Amazon Prime and Netflix on a common platform. On the basis of revenue model the segment of subscription model accounted for the largest market share and is anticipated to grow significantly from 2020 to 2027 owing to availability of different video streaming solutions and cheaper monthly and annual subscription plans.
To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/global-video-streaming-market
Further key findings from the report suggest:
• The education and academic sector is opting to video learning methods which is anticipated to propel the demand for video streaming services
• The segment of OTT solutions accounted for the largest market share in 2019 and is projected to attain the fastest growth from 2020 to 2027
• Asia Pacific is projected to grow significantly from 2020 to 2027 owing to rising penetration of smartphones and high-speed internet data
• Leading players operating in this industry include Amazon Web Services, Inc.; Akamai Technologies; Apple Inc.; Google; Cisco Systems, Inc.; Kaltura, Inc.; International Business Machine Corporation (IBM Cloud Video); Netflix; Wowza Media Systems, LLC; Hulu; and AT&T Intellectual Property.
Million Insights has segmented the global video streaming market based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:
Video Streaming Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Live
• Non-Linear
Video Streaming Solution Outlook (Revenue, USD Billion, 2016 - 2027)
• Internet Protocol TV
• Over-the-Top (OTT)
• Pay-TV
Video Streaming Platform Outlook (Revenue, USD Billion, 2016 - 2027)
• Gaming Consoles
• Laptops & Desktops
• Smartphones & Tablets
• Smart TV
Video Streaming Service Outlook (Revenue, USD Billion, 2016 - 2027)
• Consulting
• Managed Services
• Training & Support
Video Streaming Revenue Model Outlook (Revenue, USD Billion, 2016 - 2027)
• Advertising
• Rental
• Subscription
Video Streaming Deployment Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Cloud
• On-Premises
Video Streaming User Outlook (Revenue, USD Billion, 2016 - 2027)
• Enterprise
• Corporate Communications
• Knowledge Sharing & Collaborations
• Marketing & Client Engagement
• Training & Development
• Consumer
• Real-Time Entertainment
• Web Browsing & Advertising
• Gaming
• Social Networking
• E-Learning
Video Streaming Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• Middle East and Africa (MEA)
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About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/global-video-streaming-market
COMTEX_370452298/2555/2020-08-31T23:59:59
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