USD 97.09 Billion
Report ID:
SQMIG50J2004 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
142 |
Figures:
78
Global Video Streaming Market size was valued at USD 97.09 Billion in 2022 and is poised to grow from USD 102.30 Billion in 2023 to USD 174.97 Billion by 2031, at a CAGR of 8.13% during the forecast period (2024-2031).
The increasing prominence of OTT platforms, offering on-demand video content without the need for traditional cable or satellite subscriptions, is expected to drive significant market growth. OTT platforms are projected to attract more subscribers, particularly among younger audiences seeking flexible and personalized content consumption, thus fueling future market expansion.
The video streaming market has witnessed substantial growth, revolutionizing entertainment and data consumption habits. Video streaming facilitates real-time delivery of digital video content over the internet, enabling users to watch movies, live events, TV shows, and other visual content on various internet-connected devices without relying on physical media.
The widespread availability of high-speed internet has emerged as a key driver for the streaming video marketplace, allowing consumers to access and stream video content seamlessly on smartphones, PCs, smart TVs, and tablets. Additionally, the proliferation of internet connectivity, especially in urban areas, has made streaming video more accessible, contributing to market growth.
However, video streaming platforms may encounter challenges related to content piracy and unauthorized distribution of copyrighted material, which can impact revenues and restrain market growth.
US Video Streaming Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 97.09 Billion
Largest Segment
Live Streaming
Fastest Growth
Live Streaming
Growth Rate
8.13% CAGR
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The Global Video Streaming Market is segmented based on Streaming Type, Revenue Model, Platform, Solutions, End-user and region. By Streaming Type, the market is segmented into Live Streaming and On-demand Streaming. By Revenue Model market is segmented into Advertising, Rental and Subscription. By Platform market is segmented into Gaming Consoles, Laptops & Desktops, Smartphones & Tablets, Smart TV. By solution market is segmented into Over-the-Top (OTT), Cable TV and Others (Internet Protocol TV, Pay-TV). By End User market is segmented into Residential and Consumer. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Streaming Type
The live streaming segment has emerged as the dominant force in the global Video Streaming market, capturing a substantial share of approximately 61%. This growth can be attributed to the rising demand for digital media devices and improved internet speeds, enabling users to access media content remotely. Key factors driving the popularity of live streaming include ad-free content, mobile viewing options, robust analytics tracking, diverse content offerings, a vast potential audience, and high-quality streaming experiences. Live content, such as sports events and musical performances, continues to hold significant importance in driving live video streaming.
However, the non-linear streaming segment, particularly video on demand, is poised for significant growth in the coming years due to its convenience and seamless content consumption experience. Factors such as watch-time flexibility, absence of buffering, extensive content libraries, and the ability to pause live streams contribute to the anticipated expansion of the non-linear streaming segment across all age groups, ultimately establishing video on demand as a mainstream viewing option.
Analysis By Solution
The OTT category emerged as the dominant player, capturing nearly 44% of the market share. OTT solutions revolutionize the way consumers access movies and TV shows by providing online streaming options without the need for traditional cable or Pay-TV subscriptions. This segment is expected to witness substantial growth in the projected period, driven by the increasing demand for enhanced business process automation and the widespread availability of broadband infrastructure. The evolution of OTT offerings, including hybrid monetization methods, original digital content, and intensified competition leading to content fragmentation, is poised to further fuel the category's expansion.
Additionally, the Pay-TV market experienced significant revenue growth, particularly in regions like China, India, Mexico, and Brazil. However, consumers are increasingly turning to OTT services due to rising programming costs associated with Pay-TV and IPTV services. The proliferation of unlimited cellphone data plans and free public WiFi has also contributed to the expansion of the OTT market, with the introduction of services like HBO Now by Home Box Office, Inc., allowing online viewing of HBO content without cable memberships.
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The Asia Pacific region is poised for considerable growth with the highest projected Compound Annual Growth Rate (CAGR), driven by factors such as the increasing use of mobile devices and tablets, rapid technological advancements, and the popularity of online streaming. The adoption of Over-the-Top (OTT) solutions has revolutionized content consumption in Asia Pacific, with established telecommunications companies and multichannel operators leading the charge in business innovation and marketing strategies centered around video streaming. Particularly in Southeast Asia, operators are capitalizing on the region's rapidly expanding broadband internet population by offering video streaming multichannel services alongside fixed-mobile packages, thus contributing to the overall expansion of the Asia Pacific Video Streaming market.
North America claimed a significant revenue share of the global video streaming market, propelled by the notable expansion of cloud-based streaming services. The landscape of video streaming in the United States is undergoing rapid transformation, marked by the emergence of specialized platforms, the dominance of mobile viewing, and the rise of ad-supported models. Amidst efforts by traditional industry giants to adapt, this dynamic shift within the U.S. video streaming sector brings forth both opportunities and hurdles. Niche platforms cater to distinct audience segments with tailored content, nurturing dedicated communities and encouraging active participation. Concurrently, the prevalence of mobile viewing necessitates seamless user experiences and snackable content formats, compelling platforms to adjust their offerings accordingly.
In Europe, the video streaming market foresees substantial growth in the forecast period, driven by its sizable and engaged online audience. Factors such as rising disposable income and a diverse range of content offerings, including locally produced originals, contribute to this expansion. Moreover, technological advancements such as widespread smartphone adoption further enhance accessibility and convenience for users across the region. The video streaming landscape in the United Kingdom is poised for consistent growth from 2024 to 2030. Platforms are increasingly tailoring their services to suit specific European or British markets, fostering a sense of local relevance and connection. Despite facing challenges from competition and regulatory frameworks, the UK market presents promising prospects for future expansion.
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Video Streaming Market Driver
The Rise of Live Streaming in the Video Streaming Industry
Technological Innovations Driving Video Streaming Market Growth
Restraints
Escalating Concerns Regarding Content Piracy and Security
Rising cost of Content Creation
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The Global Video Streaming Market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by the Rise of Live Streaming in the Video Streaming Industry and technological innovations in the industry. The presence of the key players and various growth strategies adopted by them are among the prime factors that catalyze the Video Streaming market growth during the forecast period. Some of the prominent players operating in the Video Streaming market include Netflix, Hulu, Livestream, YouTube, Amazon Prime, and HBO among others. Companies are aiming at new product launches, innovations, expansions, mergers, and acquisitions, and finding a new market or innovating their core competency to expand individual market share.
Top Players in the Global Video Streaming Market
Video Streaming Market Recent Developments
Increasing accessibility of high-speed internet connections: The surge in video streaming is primarily attributed to the global expansion of broadband internet penetration. With substantial growth in broadband infrastructure, internet connectivity has become more widespread, reaching a larger population across various households and regions. This expansion has facilitated access to stable and high-speed internet connections, thereby broadening the potential audience for video streaming services. Consequently, streaming platforms have experienced an increase in their customer base, as more individuals gain access to reliable internet, driving further growth in the video streaming market.
Expansion of Video Streaming Market through Cloud-based Technologies: The burgeoning acceptance of cloud-based technologies is exerting a positive influence on the growth trajectory of the Video Streaming market. This impact is particularly pronounced in North America and Europe, where the adoption of such technologies is significantly altering the landscape of video content distribution. Furthermore, the ongoing wave of developments and technological advancements is anticipated to play a pivotal role in meeting the escalating demands of consumers for elevated standards in video quality, performance, and security.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
In our analysis of the Global Video Streaming Market, numerous factors contribute to shaping its trajectory, leading to significant growth opportunities globally. By streaming type, the live streaming segment dominated the global video streaming market owing to increased demand for digital media devices, as well as improved internet speeds, which allow users to access media material remotely. Recent advancements in technology, such as artificial intelligence and blockchain technology, have played a crucial role in shaping the evolution of the video streaming market. Asia Pacific region is poised for considerable growth with the highest projected Compound Annual Growth Rate (CAGR), driven by factors such as the increasing use of mobile devices and tablets, rapid technological advancements, and the popularity of online streaming.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 97.09 Billion |
Market size value in 2031 | USD 174.97 Billion |
Growth Rate | 8.13% |
Base year | 2022 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Video Streaming Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Video Streaming Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Video Streaming Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Video Streaming Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQMIG50J2004