Video Streaming Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, UK, Germany, Japan - Size and Forecast 2024-2028

Video Streaming Market Size 2024-2028

The Video Streaming Market is projected to reach a value of USD 532.5 billion at a CAGR of 26.07% between 2023 and 2028. The primary factors driving the market growth include the heightened demand for encoders to support multiple broadcasting formats, rising live-streamed content, and technological advances in video streaming and broadcasting equipment. The industry continues to witness significant growth and innovation, transforming the way content is consumed and experienced across the globe. Key elements such as brand, government regulations, consumer preferences, and the influence of sectors like tourism and gaming consoles are shaping the industry's trajectory. Factors such as heightened demand for encoders to support multiple broadcasting formats, the transition from analog to digital broadcasting, and an increasing number of smartphones and Internet users are forecasted to boost the growth of the market.

Video Streaming Market Overview

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Market Dynamics

The market is propelled by the surge in OTT (Over-the-Top) streaming, offering a plethora of content options. Satellite TV, Cable TV, and IPTV (Internet Protocol Television) compete in this dynamic landscape. Industries like Education/e-learning and Healthcare increasingly adopt streaming for outreach. Sports/esports captivate audiences, while Enterprise and corporate sectors harness streaming for communication. The market is a dynamic landscape encompassing various sectors such as OTT (Over-the-Top) streaming, Satellite TV, and Cable TV, catering to diverse needs from education/e-learning to fitness & lifestyle. It serves as a crucial platform for healthcare services, sports/esports events, and enterprise and corporate communication. With the advent of blockchain technology, content upload, and distribution have become more secure and transparent. Major players like YouTube utilize AI technology and machine learning pipelines to enhance user experience, while mobile phones and social media platforms offer convenient access to digital content. The industry is rapidly evolving with the adoption of cloud-based solutions, ensuring seamless streaming across various digital channels. Blockchain technology ensures secure transactions, while AI technology and machine learning pipelines enhance content recommendations. Challenges include upload bandwidth limitations and navigating mainstream media outlets. However, with cloud-based solutions, the market continually evolves to meet the demands of mobile phones and social media platforms.

Key Market Drivers

Technological advances are a major factor boosting market growth. The global market is experiencing significant market growth due to the widespread use of smartphones worldwide. The surge in smartphone adoption, particularly low-cost models priced below USD 200, has led to high demand for these devices in countries like India, Vietnam, the Philippines, Sri Lanka, Pakistan, Spain, and Greece. 

Moreover, smartphones dominate the global mobile phone market, offering the largest platform for these applications. Manufacturers are constantly upgrading smartphones with enhanced features, including 5G capabilities, to meet growing demand. Thus, the high penetration of low-cost, affordable smartphones and the new launches of high-end smartphones will increase the potential user base for several mobile applications, including OTT applications. Hence, such factors are driving the market during the forecast period.

Significant Market Trends

Increased application of artificial intelligence (AI), deep learning (DL), and machine learning (ML) technologies is a key trend in the video streaming market. The upcoming transformative technologies in this industry, including artificial intelligence (AI), blockchain, deep learning, and natural language processing (NLP), are expected to offer numerous opportunities for improvement and enhanced video quality during the forecast period. AI plays a crucial role in various aspects of video production, such as scoring, editing, cinematography, scriptwriting, and voice-overs, leading to improved quality.

Further, rental services allow the markets to offer viewers the ability to rent movies or TV shows for a specific duration. Users pay a fee to access the content for a limited time, usually for a rental period of 24 to 48 hours the online video streaming markets offer users the ability to rent movies or TV shows for a specific duration. Users pay a fee to access the content for a limited time, usually for a rental period of 24 to 48 hours. Consumers are at the forefront of the digital revolution, shaping how media is accessed and consumed. The surge in several viewers choosing on-demand services signifies a fundamental shift, driven by the convenience of accessing a vast array of movies and shows at any time and on multiple devices. Hence, such factors are driving the market during the forecast period.

Major Market Challenges

Growing regulations on data privacy and security concerns are a major challenge restraining the market growth. The applications on smartphones utilize various access points, such as location and storage access, to gather user data and provide personalized notifications to promote it. Unfortunately, some companies resell this data, compromising smartphone users' privacy.

Moreover, to address these concerns, many countries have introduced strict legislation safeguarding user privacy and data. While beneficial for users, these laws also restrict access to video streaming and other service providers. The market's growth also hinges on enhancing content creation methods to combat piracy while leveraging virtual reality to create immersive experiences. Hence, such factors are hindering the market during the forecast period.

Market Segmentation

By Type Analysis

The market share growth by the live segment will be significant during the forecast period. The live streaming market segment captured the highest segment in the global industry in 2020. This is attributed to the strong fan base of live sports and entertainment events. The popularity of online video platforms for education is growing as these platforms enable teachers and educators to connect, reach, and teach students.

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The live segment of the market experienced significant growth from USD 59.60 billion in 2018. The SVOD (Subscription Video-on-Demand) model has seen a considerable increase in subscriptions globally due to its user-friendly nature and a wide range of media offerings. Services like TV+, Prime Video, and Hulu provide exclusive content libraries, attracting a large subscriber base seeking quality content. These various revenue models play a pivotal role in the streaming industry's growth, catering to the diverse needs and preferences of viewers worldwide. These services have evolved remarkably, incorporating adaptive bitrate streaming and audience measurement to enhance user experiences. The ongoing audit of platforms helps ensure compliance with regulations and guard against copyright infringement. Hence, such factors are fuelling the growth of this segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 38% 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. Cloud-based services dominated the North American market in 2020, holding the greatest market share of 40.12%. The rapid proliferation of cloud-operated services contributed significantly to this trend. The computing advancements in cloud storage have revolutionized the storage and accessibility of digital media. Data compression technologies and proxy servers play crucial roles in optimizing network traffic for smoother streaming. The region's steady growth is attributed to the high disposable income of the population, driving increased spending on the platforms. As a result, North America has become a target for investments, with numerous new OTT platforms being launched. The growth of the regional market during the forecast period will be propelled by the increasing investments and business strategies adopted by these platform companies. Hence, such factors are driving the market in North America during the forecast period.

Key Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, outsourcing, geographical expansion, product/service launches and Porter's five forces analysis, to enhance their presence of the market growth and trends.

Amazon.com Inc. - The company offers video streaming such as Prime Video.

The Video Streaming market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies aiding in formulating a strategic market forecast: 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

Qualitative research and quantitative analysis of companies have been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. The Video Streaming market analysis and report include data that is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The Video Streaming market encompasses a wide array of sectors, from Auction and bidding platforms to Music & entertainment channels, offering both live and on-demand content. It leverages CDN tools to ensure seamless delivery, while YouTube applications dominate the landscape. In the education and academic sector, streaming services facilitate webinars, courses, and teaching and learning processes for schools, universities, and colleges. With the advent of technologies like 360-degree video streaming and virtual reality (VR), the market has witnessed increased merger and acquisition (M&A) activity among standalone giants. From the traditional television space to the booming OTT segment, the industry caters to diverse audiences across smartphones and tablets, smart TVs, and other digital media devices.

Further, the market is shaped by various components, such as industry events like the NAB Show, which showcase innovations. It caters to diverse content needs with multimedia content and video presentations, where standalone streaming giants lead the charge. With the demand for live content and non-linear streaming on the rise, the market is bolstered by quicker internet speeds. It serves different sectors, including the pay-TV segment, smartphones and tablets segment, and smart TV segment. Further, it offers training & support, managed services, and subscriptions along with advertising opportunities. The integration of cloud-based solutions and insights into user behavior drive both consumer and enterprise segments forward.

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What are the Key Data Covered in the Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• What is the average revenue generated by the industry?
• Accurate predictions about upcoming market trends and analysis of consumer behavior
• Market growth analysis across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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