$42.6 billion was recorded to be the global video streaming market size in 2019. And is expected to grow at a CAGR of 20.4% from 2020 to 2027. fascinating enough? It is. We are well aware that these video streaming apps have become an inseparable part of our life, Whether it's working from home or keeping in touch with your close ones or watching your favorite movies or shows. And in the current times of this COVID-19 pandemic, With the lockdown and social distancing people, it's been hard for people to keep up with things that's where the video streaming apps have come to the rescue. Click Here To Know How Video Streaming Apps are developed
Types of Video Streaming Apps
1. Video Conferencing Apps:- Video conferencing apps are generally developed for business, working, and E-learning. These are the platforms people can use to hold meetings, discussions. It is a tool highly beneficial for remote working, People can effectively work from home and be in touch with the team members. These apps are highly useful for E-learning. They provide utilities to attend or hold webinars, online lectures, etc. Zoom, Google Meet, Bluejeans, etc are some of the best video conferencing apps. They allow users with useful options like screen sharing. You can present documents, share slides, participate in polls and Q&As.
2. Video Calling Apps:- Most of the instant messaging apps have a video calling feature unless they are video chat-centric applications. WhatsApp, Facebook Messenger, Instagram are instant messaging cum social media apps but they also have video calling features. It lets you connect with your friends and family. Then there are other live video streaming platform apps like Bigo Live, Tango, etc. They are video-centric apps that provide you features to host live sessions like Instagram lets you, well here Instagram is not included in this category but is mentioned to explain the functionality. You can join live video streaming, video chat and voice chat, play games with your friends, and many more recreational activities.
3. Entertainment Apps
Entertainment video streaming apps include ott platform apps that let you stream movies and shows online. Then there are other apps that use video calling and make it interesting and entertaining for the users. Houseparty is one such app. When users are online they get a notification and invites can be sent for them to join the party and play the inbuilt games in the app. This also includes our OTT platforms that provide the users with the feature to stream their favorite shows and movies on these apps.
Above we discussed the video streaming apps and their types. And the must-have features these video streaming apps should have. With the market as huge as the video streaming market is, whether it's remote working, talking to friends and family, Or just streaming your favorite movies or TV shows, It's clear that there are immense business opportunities in the global video streaming market. So looking at the current scenario it's a great time to enter this market and reap the revenue generation opportunities. If you have any doubts regarding the development talk to our business experts or if you have an idea for a video streaming app then contact us and hire the best video streaming app development company now.
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