According to reports, the total number of internet users increased by nearly 1.3 billion from December 2014 to March 2019. Moreover, this number grew to 4.4 billion by March 2019. As per the Global Internet Phenomena Report published by Sandvine, nearly 58% of the total downstream internet traffic across the world is consumed by people streaming video content. Across the globe, the highest share of downstream traffic volume is currently held by Netflix Inc.

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The ballooning popularity of video streaming services such as Netflix Inc. is also positively impacting the popularity of video streaming throughout the world. This is, in turn, driving the advancement of the global video streaming industry. According to the estimates of P&S Intelligence, a market research company based in India, the valuation of the market will grow from $245.3 billion in 2018 to $688.7 billion by 2024. Furthermore, the market will progress at a CAGR of 19.1% during 2019–2024.

Globally, the demand for video streaming is predicted to surge sharply in the Asia-Pacific (APAC) region in the upcoming years. This will be because of the increasing number of internet users and the rapidly declining costs of data in this region, on account of the ballooning internet penetration. As per reports, the total internet penetration, especially in regional countries such as India, China, and Bangladesh grew from 35% in 2014 to 45% in 2018.

Hence, it can be safely said that the demand for video streaming will soar all over the world in the coming years, mainly because of the increasing popularity of various social media platforms and the surging penetration of the internet in several countries.