Pune, India, May 31, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global video streaming market size was valued at USD 455.45 billion in 2022 and is projected to grow from USD 554.33 billion in 2023 to USD 1902.68 billion by 2030, exhibiting a CAGR of 19.3% during the forecast period. Surging Demand for Video on Demand (VoD) Streaming Services to Drive Market Proliferation. Fortune Business Insights, provide this information in its report titled, Global Video Streaming Market Forecast, 2023-2030.
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Key Industry Development:
September 2021: Roku launched a 4K streaming stick that offers better user experience through Wi-Fi. The advanced streaming device named Roku Streaming Stick 4K is available in two different versions. The two models feature TV support, HDMI port, and Dolby Vision.
Key Takeaways
- Video streaming market size in North America was USD 180.12 Billion in 2022
- Rising Adoption of Live Streaming Platforms Across Healthcare and Education Drove Market Expansion Amid the Pandemic
- Growing Esport/Sports Audiences to Aid Segment Expansion
- Content Delivery Services Segment to Hold Major Share Due to Rising Consumer Spending on Entertainment
Discover the Leading Players Featured in the Report:
“Companies leading the global video streaming market are 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)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 19.3% |
| 2030 Value Projection | USD 1902.68 Billion |
| Base Year | 2022 |
| Video Streaming Market Size in 2022 | USD 455.45 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 180 |
| Segments covered | Component, Channel, Vertical and Geography |
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Drivers and Restraints:
Surging Demand for Video on Demand (VoD) Streaming Services to Drive Market Proliferation
The growing number of video on demand services users worldwide due to rising consumer spending on media and entertainment is driving the video streaming market growth. According to the Motion Picture Association Report, in 2021, online video subscriptions of streaming platforms such as Disney+ and Netflix grew by 14% reaching to around 1.3 billion new subscriptions compared to 2020. This stellar rise in the subscribers of OTT platforms will aid market expansion.
On the other hand, growing concerns regarding content piracy will hinder market augmentation in the forthcoming years.
Segmentation:
By Component
- Software
- Content Delivery Services
By Channel
- Satellite TV
- Cable TV
- IPTV (Internet Protocol Television)
- OTT Streaming
By Vertical
- Education/E-learning
- Healthcare
- Government
- Sports/eSports
- Gaming
- Enterprise and Corporate
- Auction and Bidding
- Fitness & Lifestyle
- Music & Entertainment
- Others (Transportation)
Regional Insights:
North America to Lead Stoked by the Presence of Leading Companies
North America captured majority of the market share in 2022 backed by the presence of prominent companies such as Alphabet Inc., Netflix, Inc., Amazon.com, Inc., Microsoft Corporation, and others in the region. Moreover, the rising number of users on video gaming and video on demand platforms in the U.S. and Canada will further elevate market expansion in this region.
The Asia Pacific market is projected to register the highest CAGR across all regions due to the growing adoption of video streaming solutions such as OTT and video on demand platforms. Moreover, leading companies in the region such as Tencent Holdings Ltd. and Disney + Hotstar are focused on expanding their services by developing advanced streaming software.
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Competitive Landscape:
Product Launches by Industry Leaders to Aid Market Expansion
Leading video streaming companies often engage in mergers and acquisitions, partnerships, collaborations to strengthen market position and earn higher profits. For instance, in March 2022, Apple launched Mac Studio and Studio Display, an entirely new Mac desktop and display, designed to give users everything they need to build the studio of their dreams. Mac Studio is powered by M1 Max and the new M1 Ultra, the world’s most powerful chip for a personal computer. With Mac Studio, users can do things that are not possible on any other desktop, such as rendering massive 3D environments and playing back 18 streams of ProRes video.
FAQs
How big is the video streaming market?
Video streaming market size was USD 455.45 billion in 2022. It is expected to reach USD 1902.68 billion by 2030.
How fast is the video streaming market growing?
The video streaming market will exhibit a CAGR of 19.3% during the forecast period, 2023-2030.
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