All You Need to Know About Video Streaming Ahead of 2024-
Video streaming app industry revenue is projected to elevate to US$115 billion by 2026 from US$72.2 billion in 2021. It would be an incredible hike, and considering the trends, it does not look unlikely.
All of us know about entertainment platforms like Netflix, Amazon Prime, HBO Max, or Apple TV+ and use them in our daily lives. But do you know what video streaming technology is and how it will be a staple in every household in the coming years?
Great, if yes. If not, don’t worry. We will break down all you need to know about video streaming technology and how it works. We will also cruise you through emerging streaming technology expected to rule the industry in 2024.
First thing first.
What is Video streaming Technology?
Video streaming refers to hardware and software that allows one to broadcast and watch videos or listen to audio over the internet live or on-demand. In essence, it enables you to broadcast and watch videos in real time.
The movies you stream, virtual events you attend, and video calls you make are all possible due to video streaming technology. So, using this technology requires no specific knowledge. You can watch and even host live streaming with any smart device, including a computer, phone, and tablet.
All you need is an uber-fast internet that is on parity with streaming needs. Generally, you need at least 3 Mbps per device for streaming, but at least 10 Mbps is recommended to experience streaming with no latency(On one device). In that regard, it is recommended to choose a top-tier internet that guarantees high-speed internet with no lags.
How Does Video streaming Technology Work?
Video streaming technology has made it incredibly easy to connect with people miles away and attend events from the comfort of your home. This technology existed for a long time, but the pandemic propelled the trend.
Today, it has revolutionized the way people learn and carry out businesses, let alone getting entertained. All this is attributed to video streaming technology. Here is how you can stream high-quality video content in real-time.
The camera captures RAW video, which is sent to the encoder through a capture card. Then, the encoder converts the RW video into a digital file. Once converted, the video is fed into the online video platform. Finally, the video is distributed to the video player through a content delivery network.
Video Streaming Trends Prospected in 2024
Although this technology is powerful and has gained immense traction, it is still evolving and being optimized. There is a lot more than video streaming technology has yet to be capable of, but let’s have a look at the prospected trends for 2024.
1. Free Ad Supported (FAST) Television
Forget about age-old TV or Subscription video on demand; now there is a combination of streaming and traditional broadcasting that delivers channels at no cost to cord-cutters. It means that viewers can get access to free content, and broadcasters can monetize the broadcasting through ads.
You might be already aware of service providers like Roku, Pluto TV, and Peacock. All these are key players employing this technique. Through this model, viewers can get rid of paying for multiple services and enjoy streaming with no pain. While Free Ad Supported Television is expected to become popular in the coming years, the viewers who have already adopted the service find it pretty frustrating to watch lots of commercial breaks. But, it has to be seen how it tackles the problem and how it goes from here.
2. Immersive Video Experiences
Virtual reality is going to take the world by storm; it will become an integral part of all virtual spaces. The dynamics of streaming will change dramatically with the inclusion of augmented and virtual reality technologies, which overlay digital content in the real world, allowing you to have an immersive experience. It means that you would be able to watch a film in which you are immersed in the story and will also be able to move around, ultimately offering a 360-degree experience.
3. Advanced Streaming Speeds
Streaming and latency cannot go hand in hand. The Internet service providers are aiming big to minimize lag. For example, they are switching from Low-latency HLS and low-latency CMLF to Web Real-Time Communications (WebRTC), which is considered a promising technology for interactive streaming.
Video streaming has evolved quite quickly in recent times. As a result, video developers and distributors are finding new ways to provide high-level streaming experiences to viewers. Therefore, it is yet to see how in the coming years, video streaming will transform, and so will our experiences.