Westford, USA, May 04, 2022 (GLOBE NEWSWIRE) — To improve video quality, new technologies such as blockchain and artificial intelligence (AI) are being deployed. Editing, cinematography, voice-overs, scriptwriting, and a variety of other aspects of video creation streaming, and upload are all aided by artificial intelligence. These advancements are expected to have a favorable impact on the market’s growth. AI is being used by a number of video streaming service providers to improve the content quality of videos.
Further, growing preferences for online streaming services over traditional TV are also projected to create a wide scope for the growth of the market during the forecast period. People are opting for online streaming services due to the ease, variety, flexibility, and cost-effectiveness they provide. VoD users, unlike traditional TV viewers, are not restricted in their material selection by geography.
The ability to watch films on the go with the help of mobile apps and high-speed network connectivity has pushed viewers to move away from traditional televisions and toward on-demand video streaming services. On-demand video services are substantially less expensive than cable TV providers’ premium memberships. COVID-19 has seen a 20% spike in viewing across many OTT platforms as a result of its rapid distribution. According to the OpenX OTT Report 2019, 60% of viewers between the ages of 18 and 34 utilize OTT services.
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