Pune, India, March 01, 2023 (GLOBE NEWSWIRE) -- The global video streaming market size was USD 372.07 billion in 2021 and is projected to grow from USD 473.39 billion in 2022 to USD 1690.35 billion by 2029, exhibiting a CAGR of 19.9% during the forecast period. Enhancing internet connectivity and increasing population are majorly driving the market growth. Fortune Business Insights, provide this information in its report titled, “Video Streaming Market Forecast, 2023-2029.”
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Key Industry Development:
January 2022: IBM Corporation declared an innovative IBM streaming mobile application that globally refines the communications happening in workplace. The mobile application is made accessible on the app store and play store. IBM’s video streaming application permits users to broadcast and live stream videos.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 19.9% |
| 2029 Value Projection | USD 1690.35 Billion |
| Base Year | 2021 |
| Video Streaming Market Size in 2021 | USD 372.07 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 150 |
| Segments covered | Component, Channel, Vertical and Geography |
Key Takeaways:
- Video Streaming Market Size in North America was USD 158.11 billion in 2021.
- Major driving factors include enhanced internet connectivity and adoption of live streaming by businesses.
- By Channel Analysis, OTT streaming segment has the largest share in the global market.
- Global demand is driven by rising number of VoD services users around the globe.
- Healthcare industry will drive the market in the forecast period, 2023-2029.
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Drivers & Restraints:
Increasing Interest in Video on Demand (VoD) Streaming Services Will Aid Industry Expansion
The market for video streaming is expected to grow due to an increase in demand for video on demand (VoD) services, as consumers spend more on media and entertainment. The Motion Picture Association Report of 2020 showed a significant rise in online VoD users during the COVID-19 pandemic, reaching approximately 1.10 billion, with an estimated 2.00 billion users expected by 2023.
However, concerns over content piracy and protection could hinder business operations and affect consumer viewing habits, which may impact the market growth in the near future.
Use of Live Video Streaming by Different Companies to Accelerate Growth
Live video streaming is gaining importance across various industries due to its numerous advantages. The COVID-19 pandemic has further accelerated the adoption of live streaming for different purposes. For example, schools and colleges have shifted to online teaching methods for better student learning outcomes.
In addition, the increasing population and preference for online streaming platforms are expected to boost the market in the coming years. The rise of over-the-top (OTT) streaming platforms has resulted in a significant demand for live video streaming content. The growing user base of popular OTT services such as Hulu, Netflix, and Disney+ due to flexible pricing and a vast array of video content is likely to drive market growth.
Moreover, the launch of new OTT platforms by major broadcasting networks is also expected to contribute to market growth. Furthermore, the ability to stream live content on mobile devices through these platforms is likely to further fuel market growth.
However, bandwidth limitations and latency issues experienced during the streaming of high-resolution video content could hinder the market growth.
Segments:
The video streaming market comprises of software and content delivery services categorized by components. The software segment includes transcoding and processing, video delivery and distribution, video management, and others. Dominant players are driving the development of advanced streaming platforms, leading to a reasonable pace of software growth.
The market's channel segment comprises satellite TV, cable TV, IPTV, and over-the-top (OTT) streaming. Among these, cable TV is expected to hold the highest share in 2021, owing to its increasing acceptance by households worldwide.
The vertical segment encompasses education/e-learning, healthcare, government, sports/e-sports, gaming, enterprise and corporate, auction and bidding, fitness & lifestyle, music & entertainment, and others (transportation), with the number of e-sport/sports audiences likely to drive market growth.
The Video Streaming Market is geographically fragmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Regional Insights:
North America to Lead Stoked by Presence of Crucial Players
North America is anticipated to lead the video streaming market share during the forecast period owing to the existence of dominating players. Further, surging number of users for video on demand and video gaming platforms across the U.S. and Canada helps the market growth.
Asia Pacific is estimated to grow with the noticeable CAGR during the forecast period. The market is developing with a substantial growth rate, owing to the rapid adoption of the numerous video streaming solutions such as video on demand and OTT platforms among consumers.
Furthermore, Europe is developing on an average note owing to the surging demand for online live streaming videos and rising adoption of on-demand videos among consumers.
Competitive Landscape:
Radical Product Launch Declarations by Prime Players to Boost Market Growth
The important players adopt numerous strategies to spur their position in the market as dominating companies. One such key strategy is procuring companies to bolster the brand value among users. Another vital strategy is intermittently launching radical products with a comprehensive study of the market and its target audience.
Partnerships and Product Development to Augment Growth
The dynamic consumer preferences are constantly shaping the streaming market. This has compelled the major players to envisage stringent strategies for growth. The key players are focusing on various growth strategies like product development, strategic collaborations, content monetization, etc. These players are also incorporating new payment methods to expand their consumer base. For instance, Netflix In. and Samsung Group announced a partnership in February 2020 to provide live streaming of content exclusively for the Galaxy smartphones users in South Korea.
List of Key Players Mentioned in the Video Streaming Market Report:
- IBM Corporation (U.S.)
- Alphabet Inc., (U.S.)
- Amazon.com, Inc. (U.S.)
- Netflix, Inc., (U.S.)
- Hulu LLC (The Walt Disney Company) (U.S.)
- Brightcove, Inc. (U.S.)
- Apple, Inc. (U.S.)
- Roku, Inc. (U.S.)
- Haivision, Inc. (U.S.)
- Tencent Holdings Ltd. (China)
Quick Buy – Video Streaming Market Research Report:
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Major Table of Contents:
- Global Video Streaming Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Transcoding and Processing
- Video Delivery and Distribution
- Video Management
- Others
- Content Delivery Services
- Live Broadcasting
- VOD & Complementary Content
- Low Latency Video Streaming Services
- Software
- By Channel (USD)
- Satellite TV
- Cable TV
- IPTV (Internet Protocol Television)
- OTT Streaming
- By Vertical (USD)
- Education/e-Learning
- Healthcare
- Government
- Sports/eSports
- Gaming
- Enterprise and Corporate
- Auction and Bidding
- Fitness & Lifestyle
- Music & Entertainment
- Other (Transportation)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Video Streaming Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Transcoding and Processing
- Video Delivery and Distribution
- Video Management
- Others
- Content Delivery Services
- Live Broadcasting
- VOD & Complementary Content
- Low Latency Video Streaming Services
- Software
- By Channel (USD)
- Satellite TV
- Cable TV
- IPTV (Internet Protocol Television)
- OTT Streaming
- By Vertical (USD)
- Education/e-Learning
- Healthcare
- Government
- Sports/eSports
- Gaming
- Enterprise and Corporate
- Auction and Bidding
- Fitness & Lifestyle
- Music & Entertainment
- Other (Transportation)
- By Country (USD)
- United States
- Canada
- Mexico
TOC Continued…!
FAQs
How large is the video streaming market?
Video streaming market size was USD 372.07 billion in 2021. It is expected to reach USD 1690.35 billion by 2029.
How fast is the video streaming market growing?
The video streaming market will exhibit a CAGR of 19.9% during the forecast period, 2022-2029
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