The global video streaming market size was estimated at USD 375.1 billion in 2021 and it is expected to hit around USD 1,721.4 billion by 2030 with a registered CAGR of 18.45% from 2022 to 2030.
Instead of being stored on the device's hard drive, video streaming or media streaming is the practice of sending compressed video material over the internet for instant playback. Instead of waiting for the movie to be downloaded to the device and then watching it, the term "streaming" refers to listening to music or watching a video in real time. Typically, streaming videos come from a pre-recorded video clip that has been compressed and can be distributed to several viewers simultaneously. Any device that has internet connectivity and programs that can decompress the contents can use the video streaming services.
One of the main reasons favorably affecting the industry is the expanding internet's use and the rising sales of mobile phones. In addition to this, there has been a noticeable increase at the demand for video streaming services in colleges, universities, and institutions all around the world. This might be attributed to its advantages, which include improved learning processes through visual webinar and course recordings. Additionally, companies utilize live streaming extensively because it helps them promote their goods and services, build their brands, and improve client interaction. Additionally, it has many uses in judicial proceedings, required sessions, town hall meetings, business conferences, and staff training.
Leading market participants are also incorporating blockchain, machine learning, and artificial intelligence (AI) technologies to enhance video quality. Cinematography, video editing and voice-overs, writing scripts, and other facets of video creation and uploading are all made easier by these technical developments. Additionally, they aid in data organization, encoding, and distribution, simplifying the digital environment. A positive market forecast is being produced by this as well as the increasing acceptance of cloud-based solutions.
Demand for Video on Demand (VoD) Streaming Services is rising supports the expansion of the market for video streaming. Due to rising consumer expenditure on media and entertainment, there are more people using video on demand services globally, which helps the business develop.
Online VoD users increased to roughly 1.11 billion during the COVID-19 epidemic, according to a Motion Picture Association report from 2020, and are predicted to reach 2 billion users by 2023. In addition, compared to 2019, the combined number of online video subscriptions from streaming service providers like Netflix Inc. and Disney+ rose by 26% in 2020, totaling almost 230 million new subscriptions. Such a rise in OTT platform customers has sparked a huge desire for market expansion.
Additionally, according to Deloitte research from 2020, each home in the United States has access to about 2.5 subscription-based video on demand streaming services. As more people subscribe to these services globally, this helps the business expand.
Report Scope of the Video Streaming Market
|Market Size in 2022||
USD 444.3 Billion
|Market Size by 2030||
USD 1,721.4 Billion
|Growth Rate from 2022 to 2030||CAGR of 18.45%|
|Forecast Period||2022 to 2030|
|Segments Covered||Streaming Type, Component (USD), Solutions, Platform, Service, Revenue Model, Deployment Type, End User and Geography|
IBM Corporation (U.S.), Alphabet Inc., (U.S.), Amazon.com, Inc. (U.S.), Netflix, Inc., (U.S.), Hulu LLC (The Walt Disney Company) (U.S.), Brightcove, Inc. (U.S.), Apple, Inc. (U.S.), Roku, Inc. (U.S.), Haivision, Inc. (U.S.), Tencent Holdings Ltd. (China)
Key Market Drivers
Key market challenges
Key market opportunities
Streaming Type Insights
With a market share of almost 61.5% in 2021, the live streaming sector generated the most income. The segment's expansion is due to the rise in popularity of digital media devices and the accessibility of faster internet for online media access. Ad-free content, mobile watching, analytics monitoring, the usage of a lot of material, the enormous audience potential, and high-quality broadcasts are a few more elements that enhance live video streaming. The high value of live video streaming has been kept in live content like sporting and musical events. However, because it is convenient and allows for series linkage, non-linear streaming is anticipated to experience substantial development in the upcoming years. Watch-time viability, absence of buffering, high capacity, and live pause are a few more elements that contribute to the industry's non-linear streaming segment's expansion. Moreover, with both streaming formats, it is anticipated that video-on-demand would become commonplace across all age groups.
In 2021, the OTT category held the highest share with almost 44%. OTT solutions allow consumers to access movies and TV shows online without having to pay for traditional cable or Pay-TV subscriptions. The category is anticipated to increase significantly over the course of the projection period due to the growing need for better business process automation and the complete availability of broadband infrastructure. The segment's development is anticipated to be accelerated by new OTT features including hybrid monetization methods, digital original content, and content fragmentation brought on by fierce competition.
Due to a sharp increase in demand for Pay-TV services in nations like China, India, Mexico, and Brazil in 2021, the Pay-TV market accounted for a substantial portion of global income. Customers are also favoring OTT services more and more as a result of rising programming costs for Pay-TV and IPTV services. The number of OTT service providers has also expanded as a result of the expanding availability of unlimited cellphone data plans and free public WiFi. For instance, HBO Now, an internet streaming service that allows online viewing of HBO episodes without a cable membership, was introduced by Home Box Office, Inc.
With nearly 31% of the market, the smartphones and tablets sector generated the most revenue in 2021. This group is expanding as a result of factors including easier access to the internet, rising disposable money, improved living standards, and shifting lifestyles. Additionally, the smart TV market is anticipated to increase significantly over the course of the forecast period since it provides a wide selection of TV channels in addition to video streaming services like Netflix.
Due to the ubiquity of dependable internet services, live streaming on smartphones and tablets is trouble-free. Due to their mobility and simplicity of remote access, these gadgets are more likely to be chosen for watching internet material. But the proliferation of video streaming services like YouTube TV, Hulu, and PlayStation Vue has generated interest in the smart TV market. Applications that arrange TV material, like PLEX, are expected to drive the segment's growth since they let smart TVs to play any suitable media content.
In 2021, North America had a 38.6% revenue share of the global market for video streaming. This was mostly brought on by the rapid growth of cloud-based streaming services. Because so many people in Europe view online material, the area is anticipated to develop steadily. In addition, Asia Pacific is anticipated to have the greatest CAGR over the forecast period due to the rising usage of mobile devices and tablets, quickening technical development, and growing acceptance of online streaming.
The consumption of material by viewers in the Asia Pacific region has changed as a result of over-the-top (OTT) solutions. With the aid of cutting-edge marketing techniques like video streaming, the region's well-established telecommunications businesses and multichannel operators have actively sought out business innovation and advancement. Due to the region's fastest-growing broadband internet population, Southeast Asian operators have boosted their revenue choices by offering video streaming multichannel packages alongside fixed-mobile bundles. These measures are leading to an expansion of the Asia Pacific market.
Key market players
Segments covered in the report
By Streaming Type
By Component (USD)
By Revenue Model
By Deployment Type
By End User
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence Research client