Video Streaming Market

Video Streaming Market Size, Share, Growth Analysis, By Streaming Type (Live, Non-Linear), Solution (Over-the-Top, Pay-TV), Platform (Gaming Consoles, Smartphones & Tablets), By Region - Industry Forecast 2024-2031


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

Video Streaming Market Insights

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 growing market for over-the-top or OTT platforms where end users can access exclusive video content without relying on cable or satellite subscription services is anticipated to have a positive impact on this market. The same appears to be expected for OTT platforms, as the audiences who tend to subscribe are those who want flexibility in content choice and are able to shift to consuming more content than imagined earlier; this is expected to propel future market growth. The over-the-top services or the OTT video streaming market has seen consistent growth in the recent past and has changed the way people entertain and consume data. Streaming allows users to watch videos in real-time over the internet without the need for physical media such as DVDs or Blu-ray discs through internet connected electronics such as computers, tablets, Smart TVs, and smart phones, for purposes such as; Movies, live events, television shows or any other content in form of video. The convenience and widespread mobility brought on by high speed of the Internet has been a critical factor driving the streaming video marketplaces where consumers can easily stream videos on smartphones, PCs, smart TVs or tablets. Furthermore, as most people have embraced the use of the internet, especially in developed countries, more people are able to stream videos, which fosters market advancement. However, video streaming platforms face challenges such as piracy and unauthorized copying of content which are some of the issues that may hinder the revenues and slow down the market growth.

US Video Streaming Market is poised to grow at a sustainable CAGR for the next forcast year.

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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 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 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.

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 (US) ', 'Amazon Prime Video (US) ', 'Disney+ (US) ', 'HBO Max (US) ', 'YouTube (US) ', 'Apple TV+ (US) ', 'Peacock (US) ', 'Paramount+ (US)  ', 'Tencent Video (China) ', 'iQIYI (China) ', 'BBC iPlayer (UK) ', 'ITV Hub (UK) ', 'NOWTV (Hong Kong) ', 'Stan (Australia) ', 'Neon (New Zealand) ', 'Crave (Canada) ', 'Mubi (Germany) ', 'Rakuten Viki (US)'

Live streaming has been established as a significant force in contributing to the enhancement of the growth of the video streaming market. This feature allows for a direct dialogue with target audiences, allowing for an efficient response to inquiries and communication in business-related issues and improving understanding of questions asked. Due to its capacity to generate increased income, it has further entrenched its presence as a revenue stream in the industry thus experiencing a notable boost in live video streaming. 

Increasing accessibility of high-speed internet connections: Video streaming growth is driven in large part by the worldwide spread of broadband Internet connectivity. Because broadband's infrastructural development has been nothing short of exemplary, it is today that internet connectivity has reached more people across more households and geographies. This has enabled stable, high-speed internet connections to proliferate, thereby expanding the base of potential video streaming viewers. This, in turn, has increased the customer base for streaming services, since more people can connect to reliable internet, further growing the video streaming market.

Globally, the Asia-Pacific region is expected to experience significant growth with the highest projected CAGR because of factors including mobile devices and tablet adoption, rising technology advancement, and increased demand for streaming services. OTT has transformed the Asia Pacific market in terms of content delivery and its accessibility as established telecom players and Multi-channel Operators take up the challenge in business and marketing model by leading the market in video streaming. In Southeast Asia especially, operators are leveraging growth in broadband internet user base in the region to offer standalone video stream multichannel services and fixed-mobile bundles translating to increased Asia Pacific Video Streaming market growth. 

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Video Streaming Market

Report ID: SQMIG50J2004

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