What is the global market size of Video Streaming Market?

Video Streaming Market size was valued at USD 73.28 billion in 2021 and is poised to grow from USD 89.03 billion in 2022 to USD 513.75 billion by 2030, growing at a CAGR of 21.5% in the forecast period (2023-2030).

Who are the key vendors in the Global Video Streaming Market?

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. The companies are aiming at new product launches, innovations, expansions, mergers, and acquisitions, and finding a new market or innovating their core competency in order to expand individual market share. 'Netflix, Inc.', 'Amazon.com, Inc. (Amazon Prime Video)', 'Google LLC (YouTube TV)', 'Hulu, LLC', 'Apple Inc. (Apple TV+)', 'Disney+ (The Walt Disney Company)', 'HBO Max (WarnerMedia)', 'Peacock (NBCUniversal)', 'Sling TV (DISH Network)', 'FuboTV, Inc.', 'Philo (Philo, Inc.)', 'ESPN+ (The Walt Disney Company)', 'CBS All Access (ViacomCBS Inc.)', 'YouTube (Google LLC)', 'Twitch (Amazon.com, Inc.)', 'Vimeo, LLC', 'Crunchyroll (Sony Corporation)', 'Crave (Bell Media)', 'Hotstar (The Walt Disney Company)', 'iQiyi, Inc.'

What is the key driver of Global Video Streaming Market?

Innovations in the video streaming industry such as the integration of blockchain technology and artificial intelligence, are also projected to drive Video Streaming market growth. Cinematography, scriptwriting, editing, voice-overs, and a variety of other elements of video creation and upload are all aided by artificial intelligence. A growing number of video streaming solution companies are using AI to increase video content quality. The appeal of such platforms over broadcast media, such as YouTube and Netflix, has risen dramatically in recent years.

What is the key market trend for Global Video Streaming Market?

Increasing popularity of over-the-top (OTT) streaming platforms is expected to drive the Video Streaming market growth. Netflix, Hulu, Amazon Prime Video, HBO, and Disney+ are just a few of the popular streaming services that provide unrestricted real-time access to high-quality original content. This cutting-edge streaming service has improved the home entertainment experience and increased the customer base of companies.

Which region accounted for the largest share in Global Video Streaming Market?

In 2021, North America had 38.7% revenue share of the global video streaming market. This growth is attributed to notable expansion of streaming services that operate on the cloud. As so many people in Europe view online content, the region is anticipated to grow steadily. Due to the rising use of mobile devices and tablets, quick technical improvements, and the popularity of online streaming, Asia Pacific is also anticipated to show considerable growth at the highest CAGR over the projection period.

Global Video Streaming Market Size, Share, Growth Analysis, By Streaming Type(Live Streaming, Video-On-Demand Streaming), By Revenue Model(Advertising, Rental and Subscription), By Platform(Gaming Consoles, Laptops & Desktops), By Solutions(Over-the-Top (OTT), Cable TV and Others (Internet Protocol TV), By End-user(Residential, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG50J2004 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 142 | Figures: 78

Global Video Streaming Market Dynamics

Video Streaming Market Driver

The Rise of Live Streaming in the Video Streaming Industry

Live streaming has emerged as a pivotal driver in elevating the market value of the video streaming industry. This feature facilitates direct communication with target audiences, enabling seamless interaction on business-related matters and enhancing comprehension of inquiries. Its ability to generate increased income has solidified its position as a leading revenue source within the industry, resulting in a notable surge in live video streaming activity.

Technological Innovations Driving Video Streaming Market Growth

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. The increasing interest in video streaming among users can be attributed to these technological developments, as they lead to improvements in video quality and enhance user preferences. Consequently, the integration of advanced technologies has emerged as a significant catalyst for the growth of the video streaming market.

Restraints

Escalating Concerns Regarding Content Piracy and Security

The burgeoning apprehension surrounding content piracy and security is expected to hinder business operations by diminishing customer interest and consumption of content. This trend is expected to significantly impact on market growth in the coming years. For example, collaborative research conducted by the Digital Citizen Alliance in August 2020 unveiled that the value of pirate subscription services in the United States alone amounts to billions of dollars. Furthermore, approximately 9 million internet users in the US are subscribers to pirate IPTV providers, with users accessing these services through at least 3,500 unlicensed websites and social media pages.

Rising cost of Content Creation

The high cost of content creation and concerns regarding content privacy pose significant obstacles to the growth of the Video Streaming market. The demand for exclusive content continues to surge, placing streaming services under pressure to generate profits amidst rising production expenses. Companies often lack comprehensive knowledge about the various stages of video content distribution, leading to substantial investments in video development. Additionally, the widespread duplication of video footage is a common practice across different regions and industries, further exacerbating the overall cost structure. Moreover, the rampant piracy of video content has reached unprecedented levels, posing a considerable threat to all media companies.

Global Video Streaming Market Report Snapshots

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FAQs

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 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. 'Netflix, Inc.', 'Amazon.com, Inc. (Amazon Prime Video)', 'Google LLC (YouTube TV)', 'Hulu, LLC', 'Apple Inc. (Apple TV+)', 'Disney+ (The Walt Disney Company)', 'HBO Max (WarnerMedia)', 'Peacock (NBCUniversal)', 'Sling TV (DISH Network)', 'FuboTV, Inc.', 'Philo (Philo, Inc.)', 'ESPN+ (The Walt Disney Company)', 'CBS All Access (ViacomCBS Inc.)', 'YouTube (Google LLC)', 'Twitch (Amazon.com, Inc.)', 'Vimeo, LLC', 'Crunchyroll (Sony Corporation)', 'Crave (Bell Media)', 'Hotstar (The Walt Disney Company)', 'iQiyi, Inc.'

Live streaming has emerged as a pivotal driver in elevating the market value of the video streaming industry. This feature facilitates direct communication with target audiences, enabling seamless interaction on business-related matters and enhancing comprehension of inquiries. Its ability to generate increased income has solidified its position as a leading revenue source within the industry, resulting in a notable surge in live video streaming activity.

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.

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.

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