Video Streaming Market size accounted to USD 53.69 billion in 2020 and it is expected to reach USD 281.0 billion by 2030 growing with a CAGR of 18% during the forecast period.Video Streaming Market nowadays is the fastest growing market in an entertainment industry due to quality content, fewer expenses in comparison to cable connection. It has been found that an average person spends USD 29 on video streaming platform rather than paying USD 109 on a cable connection. As per data collected the 70 per cent of US citizens have subscribed to the video streaming platform in comparison to 40 per cent viewers in the UK in 2019. The data from the US for the month of Septembers,2019 shows that the number of the subscriber as per- 163.75 million viewers have subscribed to Youtube, 46 million to Netflix, 26 million to Hulu, 16 million to Amazon Prime, and 15 million have joined to Vimeo. In the recent years, there has been a rise in the technological advancement like AI and blockchain technology which has provided the online media streaming companies to stream the video uninterruptedly. Also, cloud storage technology has played a vital role in the growth of video streaming market.
Market Segmentation:
The global video streaming market is segmented by streaming type into live and non-linear. By solution type, the market is categorized into internet protocol TV, (OTT), and pay-tv. By platform type, the market is classified into gaming consoles, laptops & desktops, smartphones & tablets, and smart TV. By service type the market is described into consulting, managed services, and training & support. By revenue model the market is characterized into advertising, rental, and subscription. By end user, the market is classified into enterprise and consumer. The end-user type, enterprise is further divided into corporate communications, knowledge sharing & collaborations, marketing & client engagement, training & development, and by consumer type, the market is further bifurcated into real-time entertainment, web browsing & advertising, gaming, social networking, and e-learning. By region the video streaming market is segmented into North America, Asia- Pacific, Europe and RoW.
Market Dynamics and Factors:
Video streaming is an accessible platform which gives it an additional benefit and has promoted its growth. Anyone having access to the internet, mobile, i-pad and other video streaming devices can easily access to the content within a short duration of time. Viewers have the option to watch videos online as well as in offline streaming modes, and this has led to video streaming market growth. However, due to buffering problems, and storage issue in the device creates a restrains in the video streaming market growth. Moreover, these issues can be handled by upgrading the system and therefore this platform for watching favorite contents will always be a priority for people.
Geographic Scenario
North America and Europe contributed to the largest video streaming market share in terms of revenue. U.S. has the revenue valued to be USD 12,747 million in 2020 and is expected to rise to USD 13,838 million by 2024 with an estimated CAGR of 2.1%. UK revenue is valued to be USD 1,086 million in 2020 and is expected to rise to USD 1,207 million by 2024 with an estimated CAGR of 2.7%. Asia Pacific region is also considered as the largest market by the companies and the revenue generated by India during 2020 is USD 239 million and is estimated to grow by CAGR of 10.4% during forecast period.
Competitive Scenario:
The key players in the video streaming industry are Amazon Web Services, Inc., Apple Inc., Cisco Systems, Inc., Google, Kaltura, Inc., Netflix, International Business Machine Corporation (IBM Cloud Video), Wowza Media Systems, LLC, AT&T Intellectual Property, and Hulu.
Video Streaming Market Report Scope
| Report Attribute | Details |
| Analysis Period | 2020–2030 |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Market Size Estimation | Billion (USD) |
| Growth Rate (CAGR%) | 18 % |
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| By Streaming Type (Live and Non-Linear), By Solution Type (Internet Protocol TV, Over-the-Top (OTT), and Pay-Tv), By Platform Type (Gaming Consoles, Laptops & Desktops, Smartphones & Tablets, and Smart TV), By Service Type (Consulting, Managed Services, and Training & Support), By Revenue Model (Advertising, Rental, and Subscription), By End User (Enterprise and Consumer) |
| Geographical Segmentation | North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), South America (Brazil, Argentina, Rest of SA), MEA (UAE, Saudi Arabia, South Africa) |
| Key Companies Profiled | Amazon Web Services, Inc., Apple Inc., Cisco Systems, Inc., Google, Kaltura, Inc., Netflix, International Business Machine Corporation (IBM Cloud Video), Wowza Media Systems, LLC, AT&T Intellectual Property, and Hulu. |
