The global video streaming market is projected to value USD 330.51 billion by 2030, registering a compound annual rate (CAGR) of 21.3% from 2022 to 2030. Significant technological advancements such as blockchain and artificial intelligence (AI) have improved video streaming quality over the past few years. Editing, voice-overs, cinematography, scriptwriting, and many other video creation and upload facets are all greatly aided by AI.
Furthermore, it is estimated that these advancements will have a favorable impact on the market's expansion during the forecast period. The video streaming solution suppliers are incorporating AI to deliver better video content quality. Recently, these channels have gained enormous traction and popularity than mainstream media platforms such as Netflix and YouTube. In order to offer a personalized experience to its users, Netflix introduced AI in May 2016.
Cloud-based solutions are being widely adopted by service providers to expand the audience base. This trend is popular in various parts of Asia Pacific and North America. Additionally, the market is being driven forward by an increase in demand for on-demand videos and a preference for original digital content. The market demand is also being fueled by the rising use of smartphones along with high-speed internet technologies including 3G, 4G, and LTE. Additionally, the increased demand for digital media-capable devices is enabling users to access media content from any remote location in the world.
During the COVID-19 outbreak, people were impelled to stay indoors due to stringent lockdown protocols in several countries around the globe. This circumstance increased the number of active consumers on over-the-top (OTT) streaming platforms, which in turn increased demand for streaming videos. Worldwide viewership on websites like Netflix, YouTube, and Disney+ has increased since the pandemic. In March 2020, the popular OTT platform, Netflix registered a 50% surge in the number of new subscriptions in Italy and over 30% in Spain.
Video Streaming Market Report Key Takeaways
- The live streaming segment accounted for a market share of 61% in 2021 and is attributed to the rising consumption of digital media and uninterrupted 4G accessibility. Moreover, the segment’s growth is further driven by the availability of ad-free content, live streaming of videos, analytics tracking, mobile viewing, and high-quality streams with immense audience potential
- The OTT segment captured the largest revenue share of more than 42% in 2021 and the pay-TV segment exhibited a lucrative growth rate in 2021 due to its high demand in countries such as India, China, Mexico, and Brazil
- Based on platforms, smartphones and tablets emerged as the leading segment in 2021, with a market share of 31%. This is ascribed to easy accessibility of the internet, better standard of living, increasing disposable income, and changing lifestyles
- Geographically, North America held a staggering share of 38.7% in 2021 due to the high adoption of cloud-based streaming solutions
Video Streaming Market Segments
- Video Streaming Type Outlook (Revenue, USD Billion, 2017 - 2030)
- Live Video Streaming
- Non-Linear Video Streaming
- Video Streaming Solution Outlook (Revenue, USD Billion, 2017 - 2030)
- Internet Protocol TV
- Over-the-Top (OTT)
- Video Streaming Platform Outlook (Revenue, USD Billion, 2017 - 2030)
- Gaming Consoles
- Laptops & Desktops
- Smartphones & Tablets
- Smart TV
- Video Streaming Service Outlook (Revenue, USD Billion, 2017 - 2030)
- Managed Services
- Training & Support
- Video Streaming Revenue Model Outlook (Revenue, USD Billion, 2017 - 2030)
- Video Streaming Deployment Type Outlook (Revenue, USD Billion, 2017 - 2030)
- Video Streaming User Outlook (Revenue, USD Billion, 2017 - 2030)
- Corporate Communications
- Knowledge Sharing & Collaborations
- Marketing & Client Engagement
- Training & Development
- Real-Time Entertainment
- Web Browsing & Advertising
- Social Networking
- Video Streaming Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Asia Pacific
- South America
- Middle East and Africa (MEA)
- List of Key Players in the Video Streaming Market
- Akamai Technologies
- Amazon Web Services, Inc.
- Apple Inc.
- Cisco Systems, Inc.
- Google LLC
- Kaltura, Inc.
- Netflix, Inc.
- International Business Machine Corporation (IBM Cloud Video)
- Wowza Media Systems, LLC
- Hulu, LLC