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The Global Online Streaming Services Market size is estimated to grow at a CAGR of 19.64% between 2022 and 2027. The size of the market is forecasted to increase by USD 285.46 billion. The growth of the market depends on several factors, including the rising penetration of smartphones and easy access to the Internet, the growing popularity of online video streaming in the education sector, and the launch of new content.
This report extensively covers market segmentation by revenue (subscription, advertising, and rental), type (online video streaming and online music streaming), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing popularity of online video streaming in the education sector is notably driving the online streaming services market growth. Many teachers and educators use online video platforms to interact with students. They can conduct lectures and classes that are then published online using capture tools. Students can access these lectures and classes via websites and mobile applications. For instance, LinkedIn Learning, Coursera Inc., and Udemy Inc. are some of the major online video streaming providers in the education industry.
Online video streaming can help educators reach students across the world. Therefore, many enterprises have launched online video streaming applications. For instance, in March 2020, uLesson Education Ltd. launched the uLesson app, with offers a holistic curriculum in subjects such as Physics, Chemistry, Mathematics, and Biology. Thus, the growing popularity of online video streaming in the education sector will fuel the growth of the market during the forecast period.
The increasing penetration of smart TVs is a key trend influencing the online streaming services market growth. The demand for online streaming services is expected to increase with the rising penetration of smart TVs. Such TVs have the ability to stream applications such as Hulu, ALTBalaji, and Amazon Prime. The rising number of technological advances in consumer electronics will further increase the popularity of smart TVs. For instance, features such as advanced cameras are being incorporated into smart TV sales.
Many companies have released smart TVs to meet the growing demand. For instance, in January 2020, TCL Corporation launched IoT-enabled, AI-powered smart TVs and air conditioners In India. In December 2019, Roku, Inc. and Walmart, Inc. launched the Atvio Roku TV line of smart TVs in Mexico. These TVs support various Internet applications. The introduction of new smart TVs will further increase the use of online streaming services. These factors will support the growth of the global online streaming services market's growth during the forecast period.
Concerns pertaining to video piracy may impede the online streaming services market growth. The prevalence of web video piracy and illegal streaming poses a threat to the global market for online streaming services. Users can download audio and video content easily using software such as BitTorrent and uTorrent. As a result, many users do not subscribe to online streaming services. The majority of pirated or illegally downloaded content is free of advertisements, unlike video-on-demand (VOD) streaming services that rely on advertising.
Online streaming platforms offer a vast amount of exclusive content. However, many nations lack stringent piracy laws. This, in turn, hampers the number of subscriptions to online streaming services. Therefore, concerns related to video piracy may hinder the growth of the global online streaming services market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Online Streaming Services Market Customer Landscape
The market share growth by the subscription segment will be significant during the forecast period. Subscription video-on-demand (SVOD) provides customers with access to a large catalog of programs for a fixed price each month. The popularity of SVOD streaming platforms is increasing, as they offer unlimited access to original, high-quality content to users on the go.
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The subscription segment was valued at USD 40.67 billion in 2017 and continued to grow by 2021. The adoption of subscription video-on-demand (SVOD) services provided by OTT platforms has increased owing to pricing innovation, bundling, and accessibility to original premium content. Certain OTT applications also offer the same functionalities as those offered by broadcast channels. These factors will drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is also a key region in the global online streaming services market. The growth of the market in this region is attributed to factors such as the expansion of the on-demand video market and the decline of the live TV broadcast market in countries such as the US and Canada. The entertainment industry in the region is mature and technologically advanced. Increasing investments by online streaming service providers and declining demand for television broadcasts are encouraging TV broadcasting companies to form strategic partnerships with online streaming service providers. Moreover, regional players are expanding their businesses by collaborating with artists and acquiring exclusive rights to their songs as well as by acquiring smaller companies.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. After the outbreak of COVID-19, the demand for online video streaming services increased in countries such as the US and Mexico. In addition to video entertainment content, other categories such as fitness and wellness, gaming live streams, and cooking also witnessed growth. Therefore, the COVID-19 pandemic accelerated the shift from live television to online streaming. These factors will contribute to the growth of the regional online streaming services market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Access Industries Inc. - The company offers online streaming services. Its music and audio streaming services are available in over 180 countries across the world, with a music library of 56 million tracks.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the subscription segment will be significant during the forecast period. Subscription video-on-demand (SVOD) provides customers with access to a large catalog of programs for a fixed price each month. The popularity of SVOD streaming platforms is increasing, as they offer unlimited access to original, high-quality content to users on the go.
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The subscription segment was valued at USD 40.67 billion in 2017 and continued to grow by 2021. The adoption of subscription video-on-demand (SVOD) services provided by OTT platforms has increased owing to pricing innovation, bundling, and accessibility to original premium content. Certain OTT applications also offer the same functionalities as those offered by broadcast channels. These factors will drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is also a key region in the global online streaming services market. The growth of the market in this region is attributed to factors such as the expansion of the on-demand video market and the decline of the live TV broadcast market in countries such as the US and Canada. The entertainment industry in the region is mature and technologically advanced. Increasing investments by online streaming service providers and declining demand for television broadcasts are encouraging TV broadcasting companies to form strategic partnerships with online streaming service providers. Moreover, regional players are expanding their businesses by collaborating with artists and acquiring exclusive rights to their songs as well as by acquiring smaller companies.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. After the outbreak of COVID-19, the demand for online video streaming services increased in countries such as the US and Mexico. In addition to video entertainment content, other categories such as fitness and wellness, gaming live streams, and cooking also witnessed growth. Therefore, the COVID-19 pandemic accelerated the shift from live television to online streaming. These factors will contribute to the growth of the regional online streaming services market during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global online streaming services market as a part of the global media and entertainment market, which covers companies that offer products, services, and solutions in advertising, broadcasting, cable and satellite, publishing, movies and entertainment, interactive home entertainment, and interactive media and services. It also includes companies that offer and/or produce entertainment content streamed online. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Online Streaming Services Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.64% |
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Market growth 2023-2027 |
USD 285.46 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
18.41 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Access Industries Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu Inc., Balaji Telefilms Ltd., Brightcove Inc., British Broadcasting Corp., Eros Media World plc, Fox Corp., fuboTV Inc., Hulu LLC, Netflix Inc., Philo Inc., Sling TV LLC, Spotify Technology SA, Tencent Holdings Ltd., and The Walt Disney Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Revenue
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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