Video Streaming Market Overview:
The Global Video Streaming market was valued at USD 58.95 Billion in 2021 and is anticipated to grow at a CAGR of 21.22% and is expected to reach USD 333.16 Billion by 2030.
Better brand engagement as a result of the growing popularity of live streaming technology along with the increasing adoption of smartphones coupled with the internet is driving the growth of the global market. Market expansion is further fueled by the rising demand for live-streaming content and the need to maximize network bandwidth. New technologies such as artificial intelligence (AI) and blockchain technology are used to improve video quality. Video streaming is a technology that allows people to view online video content such as movies, and TV shows without having to download media files. Because the user does not have to download the media files to watch the content, video streaming uses less storage space on the device. Due to this, the time spent in loading or buffering the video is eliminated ensuring a good experience for the users. Over the past few years, broadcast media platforms like YouTube and Netflix have seen a significant rise in popularity. AI was implemented by Netflix in May 2016 to provide subscribers with a better experience.
Due to rising consumer adoption of on-demand videos and rising demand for online live-streaming videos, Europe is experiencing significant growth. In Europe, several market players, including Disney Plus and Netflix Inc., are increasing the number of OTT subscribers. In countries like Italy and Spain, Netflix registered an increase of more than 50% in mobile applications on people’s smartphones.
The number of people using internet is expected to rise as a result of ongoing innovations and technological advancements. Developments in blockchain technology and artificial intelligence are driving the growth of the global video streaming market. Increasing usage of smartphones among people is responsible for the rising popularity of video streaming. Moreover, there is an increased demand for video streaming in the education and academic sector to conduct webinars and online courses. Therefore, schools, colleges, and universities are creating online content and delivering them in the form of video presentations. All these factors are driving the growth of the global video streaming market.
Since the demand for exclusive content is rising leading to increased costs for production, market players are under pressure to make significant profits. Companies are unaware of various platforms for content delivery which restrain the growth of the market. Moreover, the market is further anticipated to be hindered by rising user concerns regarding content piracy and protection. Market expansion is therefore predicted to be impacted in the coming years by this.
Videos have the potential to improve students’ ability to retain information, which can have a significant positive impact on education. Therefore, they are effectively utilizing technology to spread knowledge. Consequently, utilizing movies in the classroom contributes to the development of a multimodal learning environment. Moreover, better internet connectivity with uninterrupted video streaming will further create potential opportunities for the growth of the global video streaming market.
The COVID-19 pandemic had a positive impact on the video streaming market. COVID-19 has accelerated digitalization across the world. Lockdowns and strict regulations led to an increased number of OTT subscriptions, as people were staying at their homes. Several offices and companies were shut down leading to work-from-home practices which boosted the use of video streaming services. The majority of the market players have experienced an increase of 20-40% in their customer base due to the COVID-19 outbreak. With the increasing usage of smartphones among youth, the trend for online video streaming has positively impacted the growth of the market.
Video Streaming Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||333.16 Billion|
|By Streaming Type||Live Streaming and Non-Linear Streaming|
|By Solutions||OTT, Cable-TV, Pay-TV|
|By Geography||North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa|
|Key Players||IBM Corporation, Alphabet Inc., Netflix, Inc., Apple, Inc., Google LLC, Amazon, Inc, AT&T Inc., Akamai Technologies, Inc, Cisco Systems, Inc, Kaltura, Inc., Vimeo|
By Streaming Type
Based on the streaming type, the market is segmented into live streaming and non-linear streaming. The live-streaming industry was the most profitable in 2021, accounting for almost 61.5 percent of the market. The popularity of digital media devices and the availability of faster internet for online media access are the two factors that have contributed to the growth of this market segment. Live events like concerts and sports have retained the high value of live video streaming. It is anticipated that non-linear streaming will see significant growth in the coming years. Additional factors that contribute to the expansion of the non-linear streaming market include live pause, high capacity, watch-time viability, and the absence of buffering. Additionally, it is anticipated that video-on-demand will become widespread across all age groups with both streaming formats.
Based on solutions, the market is divided into over-the-top (OTT), Cable-TV and Pay-TV. With almost 44%, the OTT category held the most market share in 2021. Customers can access movies and TV shows online on OTT platforms without having to pay for Cable-TV or Pay-TV subscriptions. It is anticipated that the emerging characteristics of OTT, such as digital original content, and content fragmentation as a result of intense competition, will propel the segment’s expansion. In 2021, the Pay-TV market registered a significant portion of global income because of the increasing demand for Pay-TV services in countries like Mexico, India, and China. Due to rising programming costs for Pay-TV and IPTV services, customers are also increasingly favoring OTT services. The OTT services have also expanded because of the availability of unlimited data plans and free public WiFi.
North America held a 38.6% revenue share of the global video streaming market in 2021. The region’s high video content consumption rate is the primary driver of the region’s expanding video streaming market. The market is expected to grow steadily in Europe due to the large number of people who view content online. Additionally, Asia-Pacific is anticipated to experience the highest CAGR over the forecast period due to the growing acceptance of online streaming, rapid technological development, and the rising use of mobile devices and tablets. OTT platforms have played a significant role in transforming the way content is consumed by people in Asia-Pacific.
Video Streaming Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- IBM Corporation
- Alphabet Inc.
- Netflix, Inc.
- Apple, Inc.
- Google LLC
- Amazon, Inc
- AT&T Inc.
- Akamai Technologies, Inc
- Cisco Systems, Inc
- Kaltura, Inc.
- In March 2022, a new Beta 1.0 video streaming platform for instructional video courses was launched by a company named Y2K Solutions Inc. It offers free video hosting and streaming solutions.
- In July 2020, to increase its presence outside China, Tencent Holdings Ltd. launched a video streaming service. WeTV, Tencent’s JOOX music and streaming service, and its mobile PUBG game helped the company expand throughout Thailand.
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