Newark, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 91.53 billion in 2022 global video streaming market will reach USD 554.11 billion by 2032. The rollout of 5G networks will provide ultra-fast, low-latency internet connectivity, enabling higher-quality video streaming and facilitating the growth of 4K and even 8K video content. The AR and VR technologies also offer immersive video streaming experiences, opening opportunities for interactive and 360-degree content, virtual events, and virtual commerce. Additionally, streaming platforms' continued expansion of live sports streaming rights presents an opportunity to capture sports enthusiasts and create more interactive viewing experiences. Investing in original content production by streaming platforms will remain a key opportunity to attract and retain subscribers, focusing on unique and high-quality programming. Also, AI and machine learning advancements will enable more sophisticated content personalization, increasing user engagement and retention.
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Key Insight of the global Video Streaming market
Asia Pacific is expected to witness the highest market growth over the forecast period.
The region has witnessed a substantial increase in internet penetration, driven by the growing availability of affordable smartphones and improving network infrastructure. More people have access to high-speed internet, making video streaming more accessible. In addition, the expanding middle class in countries like China and India has greater disposable income, allowing them to subscribe to paid video streaming services. As income levels rise, the willingness to pay for entertainment content increases. Furthermore, local content production in Asia Pacific countries has surged, with streaming platforms investing in original content tailored to regional preferences. Thus, includes content in languages other than English, attracting a broader audience. Apart from this, the popularity of live streaming platforms for gaming and e-sports in Asia Pacific, particularly in countries like India, Japan, South Korea and China, has contributed to the region's growth in the video streaming market.
In 2022, the live video streaming segment held the largest market share at 63.18% and a market revenue of 57.83 billion.
The type segment is split into live video streaming and non-linear video streaming. In 2022, the live video streaming segment held the largest market share at 63.18% and a market revenue of 57.83 billion.
In 2022, the cloud segment dominated the market with the largest share of 61.93% and revenue of 56.68 billion.
The deployment segment includes cloud, on-premises and hybrid. In 2022, the cloud segment dominated the market with the largest share of 61.93% and revenue of 56.68 billion.
In 2022, the over-the-top (OTT) segment dominated the market with the highest share of 44.01% and market revenue of 40.28 billion.
The solution segment is classified into internet protocol TV, over-the-top (OTT) and pay-TV. In 2022, the over-the-top (OTT) segment dominated the market with the highest share of 44.01% and market revenue of 40.28 billion.
In 2022, the training & support segment held the largest market share at 39.27% and a market revenue of 35.94 billion.
The service segment is divided into consulting, managed services and training & support. In 2022, the training & support segment held the largest market share at 39.27% and a market revenue of 35.94 billion.
In 2022, the smartphones & tablets segment dominated the market with the largest share of 33.59% and revenue of 30.74 billion.
The platform segment includes gaming consoles, laptops & desktops, smartphones & tablets, and smart TV. In 2022, the smartphones & tablets segment dominated the market with the largest share of 33.59% and revenue of 30.74 billion.
In 2022, the subscription segment dominated the market with the highest share of 45.11% and market revenue of 41.29 billion.
The revenue model segment is classified into advertising, rental and subscription. In 2022, the subscription segment dominated the market with the highest share of 45.11% and market revenue of 41.29 billion.
In 2022, the consumer segment held the largest market share at 52.91% and a market revenue of 48.43 billion.
The end user segment is split into enterprise and consumer. In 2022, the consumer segment held the largest market share at 52.91% and a market revenue of 48.43 billion.
Advancement in market
In July 2023: Kaltura has introduced substantial enhancements to its Cloud TV and Streaming Platform, specifically tailored to meet the distinctive needs of television operators and media clients. These latest Kaltura cloud TV and streaming platform improvements are available across different devices, encompassing Android and Apple TV, smart TVs, Set-Top Boxes (STBs), and web and mobile interfaces.
In April 2023: Wowza has partnered with AMD to spearhead a groundbreaking, high-density, and eco-conscious live video streaming solution. This collaboration between the two companies is at the forefront of efforts to alleviate server load and promote environmentally friendly streaming practices by substantially increasing the number of video streams processed per server. Additionally, this cost-effective approach widens the availability of sustainable streaming solutions, providing a valuable option for businesses looking to embrace eco-friendly practices.
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Market Dynamics
Driver: Convenience and on-demand viewing.
Video streaming services offer on-demand access to a vast content library, eliminating the need for traditional TV schedules. This convenience appeals to consumers, especially those who prefer to watch at their own pace. Additionally, streaming platforms leverage sophisticated recommendation algorithms to suggest content tailored to individual user preferences. This factor keeps viewers engaged and encourages them to explore more content.
Restraint: Regional licensing and geo-restrictions, and competition and subscription fatigue.
Content licensing agreements often result in geo-restrictions, preventing users in certain regions from accessing specific content. This factor can lead to frustration among users and limit the global reach of streaming services. Furthermore, the proliferation of streaming services has led to intense competition. Consumers may experience subscription fatigue, as they must subscribe to numerous services to access their favourite content, which may increase the costs.
Opportunity: International expansion and content partnerships.
Expanding into new international markets offers significant growth opportunities. Tailoring content to local audiences and overcoming language barriers can attract a global subscriber base. In addition, forming partnerships with content creators, studios, and production companies can secure exclusive content and expand the platform's library. Also, developing interactive content, such as choose-your-own-adventure narratives and interactive gaming, can engage viewers more deeply and set streaming platforms apart.
Challenge: High subscriber churn rates and content discovery issues.
High subscriber churn rates can be a concern, as users may cancel subscriptions after binge-watching specific content or switching to a different service with a more attractive offer. At the same time, with vast content libraries, helping users discover relevant content remains a significant challenge. Ensuring users find content aligned with their interests can take time and effort.
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Some of the major players operating in the global Video Streaming market are:
• Apple Inc.
• Amazon Web Services, Inc.
• Adobe Inc.
• AT&T
• Akamai Technologies
• Baidu, Inc.
• BT
• Brightcove Inc.
• CDNetworks
• Crackle, Inc.
• Comcast Corporation
• Cisco Systems, Inc.
• Cox Communications, Inc.
• Deutsche Telekom AG
• Disney+
• Google LLC
• Haivision, Inc.
• Hulu, LLC
• Facebook
• Fandango
• IBM
• iNDIEFLIX Group Inc.
• Kaltura, Inc.
• Microsoft
• Netflix, Inc.
• Roku, Inc.
• STAR
• Snagfilms Inc.
• Twitter, Inc.
• TalkTalk TV Entertainment Limited
• Tencent Holdings Ltd.
• Ustream, Inc.
• Verizon Media
• Wowza Media Systems, LLC
• Xperi
Key Segments cover in the market:
By Type
• Live Video Streaming
• Non-Linear Video Streaming
By Deployment
• Cloud
• On-Premises
• Hybrid
By Solution
• Internet Protocol TV
• Over-the-Top (OTT)
• Pay-TV
By Service
• Consulting
• Managed Services
• Training & Support
By Platform
• Gaming Consoles
• Laptops & Desktops
• Smartphones & Tablets
• Smart TV
By Revenue Model
• Advertising
• Rental
• Subscription
By End User
• Enterprise
• Consumer
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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