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The video streaming market is estimated to grow at a CAGR of 20.36% between 2022 and 2027. The size of the market is forecast to increase by USD 310.44 billion. The growth of the market depends on several factors, including heightened demand for encoders to support multiple broadcasting formats, rising live-streamed content, and technological advances.
This report extensively covers market segmentation by type (live and non-linear), deployment (cloud and on-premises), 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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Technavio categorizes the global video streaming market as a part of the global interactive media and services market within the media and entertainment market. The global interactive media and services market includes companies engaged in content and information creation or distribution through proprietary platforms, where sales are primarily generated through pay-per-click advertisements. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Heightened demand for encoders to support multiple broadcasting formats is notably driving the market growth, although factors such as an increase in cases of cyberattacks may impede the market growth. 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.
Key Video Streaming Market Driver
Heightened demand for encoders to support multiple broadcasting formats is notably driving the market growth. Encoders are widely used in the broadcast industry to ensure accuracy, precision, and control. This increased usage and application in the broadcast industry have resulted in increased demand for encoders. Encoders are combinational logic circuits that transform an active input signal into an optimum coded output signal. They are used in media broadcasting to support multiple formats, such as audio, video, or /image data.
Video streaming platforms deliver audio, video, and other media content over the internet without using cable technology. To offer better video quality to subscribers, players in the broadcasting industry are making use of video encoders. The rise in OTT-based content viewership has fueled the demand for encoders in broadcasting applications. Video encoders provide the sports, media, and entertainment industry with a viable solution that allows remote production, remote operation, and live production from the cloud. This factor, in return, is expected to drive the growth of the video streaming industry during the forecast period.
Significant Video Streaming Market Trend
Increasing adoption of cloud-based services is an emerging trend in the market. To increase capacity, enhance functionality, and provide additional services, cloud-based computing is used by cloud-based services. Cloud-based video content delivery networks (CDNs) are also called video CDNs. Video CDNs improve the delivery service capabilities of web applications as well as their storage. Furthermore, they provide access to numerous specialized services, such as live streaming and live migration of data.
Video CDNs help recognize essential application requirements, improve the scalability and robustness of systems, their usability, and access performance, reduce costs, and provide support for security and privacy. The significance of cloud technology is increasing in the global video streaming industry. Thus, the increasing adoption of cloud-based services will drive the market's growth during the forecast period.
Major Video Streaming Market Challenge
An increase in cases of cyberattacks is a major challenge impeding market growth. Owing to the growing cybercriminal activities and the number of malware experts cybersecurity is a crucial as well as a never-ending issue. This is because cyberattacks cause immeasurable damage to a company both in financial and reputational (/image of the company) terms.
The people or groups responsible for such attacks gain access to the data of users, such as content and other sensitive information on the broadcasting operator channel. Cyberattacks are difficult to prevent and identify in real time. For instance, in October 2021, a ransomware attack on Sinclair Broadcast Group (SBG), which is one of the largest TV station operators in the US, caused disruptions and malfunction of multiple TV stations across the country. Therefore, such incidents can hamper the growth of the video streaming industry during the forecast period.
Key Video Streaming Market Customer Landscape
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 Video Streaming Market Customer Landscape
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.
AgileContent SA - The company operates under one segment. The company under this segment help users find content and events according to their interests including rich /images, descriptions, cast and characters, ratings, and relations between content that pave the way to create a user interface, recommendations, and unified search. The key offerings of the company include video streaming services.
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 live segment will be significant during the forecast period. The live video streaming segment captured the highest segment in the global video streaming industry in 2020. This is attributed to the strong fan base of live sports and entertainment events.
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The live segment was valued at USD 50.92 billion in 2017 and continued to grow until 2021. The outbreak of COVID-19 led to the imposition of restrictions on the audience on the ground. This boosted the live video streaming segment in 2020. Due to the imposition of lockdowns to curb the spread of the disease, business operations, schools, colleges, and universities were closed, leading to the majority of the population staying within their homes. This, in turn, has resulted in people opting for the internet and other online platforms for entertainment, education, and official work. The rising digitization initiatives by international sports associations in recent years and strong cloud infrastructure will continue to create perpetual demand for video streaming services. Therefore, these factors are expected to drive the growth of the live segment of the market in focus during the forecast period.
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North America is estimated to contribute 35% 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.
Due to the expansion of cloud-based services in nations including the US and Canada, the category held the greatest market share in North America in 2020. This was mostly caused by the rapid proliferation of streaming services that operate in the cloud. Additionally, the high average disposable income of the population in North America is one of the major factors contributing to the large market size. This has increased people spending capability and made video streaming platforms more popular amongst the population. As a result, the region is witnessing an increasing number of investments in opening new video streaming platforms. Growing investments and business strategies by video steaming platform vendors will propel the growth of the regional market in focus during the forecast period.
In 2020, COVID-19 positively influenced the regional video streaming industry, as lockdowns created needs for recreational activities such as gaming or watching tv shows and videos on Netflix, YouTube, and other similar video streaming platforms. Confined to their homes for longer periods during the pandemic, gamers spent more time in the virtual world, exploring more content to watch in order to pass their time, and this trend was reflected in increased subscription sales. With the adoption of remote working and the need to give their employees better training, various organizations and businesses have shifted more toward virtual and augmented reality-based simulators, which has led to an increase in demand for gaming simulation during the COVID-19 pandemic. Thus, vendor revenue also increased in 2020. Therefore, such factors will increase the demand of the market in focus during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Live and Non-linear), Deployment (Cloud and On-premises), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
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Video Streaming Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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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 20.36% |
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Market growth 2023-2027 |
USD 310.44 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
19.86 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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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 |
AgileContent SA, Akamai Technologies Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Brightcove Inc., Cisco Systems Inc., Dacast Inc., Haivision Systems Inc., International Business Machines Corp., Kaltura Inc., MediaPlatform Inc., Netflix Inc., Panopto Inc., Qumu Corp., Sonic Foundry Inc., SproutVideo LLC, The Walt Disney Co., VBrick Systems Inc., and Wowza Media Systems LLC |
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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, Market condition analysis for 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 Type
7 Market Segmentation by Deployment
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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