New York, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Video Streaming Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Video Streaming Market Size:
The global video streaming market is estimated to grow with a CAGR of ~21% over the forecast period, i.e., 2022-2031. The growth of the market can be attributed to rising adoption of digital media. In 2022, there would be more than 4.50 billion users of social media, or more than 55% of the world's population. Social media contains millions of video available which doesn’t required to be downloaded. Majority of content available on social media is free. Hence this factor is estimated to increase the demand for digital media, hence boosting the market growth.
Video streaming is the continuous transfer of video files from a server to a client. Users can watch videos online without downloading them thanks to video streaming. Movies, television shows, YouTube videos, and livestreamed content are all examples of streaming video content. Further, increasing number of people having video subscription is anticipated to drive the market growth. More than 80% of American households have at least one subscription to a video streaming service.
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Global Video Streaming Market: Key Takeaways
- North America to garner the highest revenue
- Smart phone & tablet segment to propel the highest growth
- Asia Pacific region to have the significant growth
Surging Educational Video Content Trend to Boost Market Growth
Videos could improve student learning retention, which can have a significant positive effect on education. When watching a video, viewers retain more than 90% of the message, compared to only 10% when reading. Webinars and video lectures are among the items in this category. Universities, colleges, and other educational institutions today produce interactive content and communicate it via video presentations. They are effectively disseminating knowledge in this way through the use of technology. Hence this factor is estimated to influence the growth of the market.
Also there are large number of educational videos available on the internet. Nearly 60% of internet users in the Philippines reported watching tutorials, educational films, and how-to videos online on a weekly basis during the fourth quarter of 2021, giving the country the biggest global reach for online learning videos. South African internet users came in second, with almost 60 percent of respondents saying they watched educational videos. It was also estimated that, approximately 50% of YouTube user in America watches YouTube videos to learn new things.
Global Video Streaming Market: Regional Overview
The global video streaming market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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Rise in Population Percentage Watching Online Streaming to Drive the Growth of the Market in North America Region
The video streaming market in North America region is estimated to garner the largest revenue by the end of 2031, backed by large number of population watching online streaming. In 2018, approximately 40% of Americans watched live streams of internet material, up significantly from about 20% in 2017, according to Nielsen's U.S. Video 360 Report 2018. Further, improvement in cloud based streaming services has also expected to boost the market growth.
Growing Penetration of Internet to Favor Market Growth in Asia Pacific Region
The market is Asia Pacific region is estimated to grow further owing to the increasing penetration of internet over the forecast period. Considering that it is the most populous region on earth, the Asia-Pacific region has the most internet users. China had over 930 million internet users as of January 2021, while India came in second with approximately 620 million subscribers.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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Global Video Streaming Market, Segmentation by Platform
- Gaming Consoles
- Laptops & Desktops
- Smartphones & Tablets
- Smart TV
The smartphones & tablets segment is anticipated to hold the largest revenue by the end of 2031. The growth of the segment can be attributed to growing adoption of smartphones by people in order to stream videos. There are currently about 5 billion smartphone users worldwide, which translates to an ownership rate of about 80%. By March 2022, it was estimated that more than 55% of Americans watched digital video content on their smartphones, compared to about 50% of respondents who claimed the same about watching video on a smart TV, a more well-known device for online video consumption.
Global Video Streaming Market, Segmentation by Type
- Live Video Streaming
- Non-Liner Video Streaming
The non-linear video streaming segment is anticipated to garner the largest revenue by the end of 2031, backed by increasing preference for non-linear video streaming platform. Various non-linear video streaming platform such as Netflix, YouTube, and more, are gaining popularity owing to their availability for 24/7. Around 160 million hours of programming were watched each day by Netflix users in all the countries where it is now available.
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Global Video Streaming Market, Segmentation by Solution
- Internet Protocol TV
- Over-the-Top
- Pay-Tv
Global Video Streaming Market, Segmentation by Service
- Consulting
- Managed Services
- Training & Support
Global Video Streaming Market, Segmentation by User
- Enterprise
- Corporate Communications
- Knowledge Sharing & Collaborations
- Marketing & Client Engagement
- Training & Development
- Consumer
- Real-Time Entertainment
- Web Browsing & Advertising
- Gaming
- Social Networking
- E-Learning
Few of the well-known market leaders in the global video streaming market that are profiled by Kenneth Research are 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 and other key market players.
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Recent Development in the Global Video Streaming Market
- In July 15, 2020, The general availability of Amazon Interactive Video Service (Amazon IVS), a new fully managed service that makes it simple to set up live, interactive video streams for a web or mobile application in just a few minutes, was announced by Amazon Web Services, Inc. (AWS), an Amazon.com company.
- In August 24, 2022, Netflix and the exceptional filmmaking duo Raj Nidimoru & Krishna DK have launched an exciting, multi-year creative relationship. According to the agreement, Raj & DK will create and produce their forthcoming movies for Netflix under the D2R Films label.
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