The global video streaming market size is estimated to grow from USD 375.1 billion in 2021 to reach USD 1,721.4 billion by 2030, with a remarkable CAGR of 18.45% from 2022 to 2030.
Key Takeaways of Video Streaming Market:
- North America video streaming market size was valued at USD 162 billion in 2021.
- By deployment type, the cloud segment exhibited a 59% revenue share in 2021.
- By User, the consumer segment hit a revenue share of over 52% in 2021.
- By revenue model, the subscription segment accounted for 43.4% market share in 2021.
- By service, the training & support segment has garnered a 38.5% market share in 2021.
- The managed services segment represented 32% revenue share in 2021.
The value of the video streaming market has grown recently as a result of advancements in technology and the internet. Modern technology’s advancements have led to improvements in video streaming by making live video accessible through a variety of internet connections. Live meetings and conferences may be held via video streaming, allowing you to interact with clients and make changes to your company’s operations.
The market for video streaming has grown as smartphone adoption and development have expanded. The primary function of video streaming is the online transmission of audio and video from one place to another. The global spread of the epidemic has caused significant shifts in the video streaming market share. Many consumers choose internet streaming through smartphone so they could watch videos whenever and wherever they wanted. Due to the lockdown forcing individuals to remain at home, people began to favour the video streaming market to keep them engaged and entertained.
Highlights of Video Streaming Market:
- Live video streaming and non-linear video streaming are the two segments that make up the worldwide market for video streaming. With a CAGR of 21.42% throughout the projected period, the Live Video Streaming market category is expected to account for the biggest market share.
- Internet Protocol TV, Over the Top (OTT), and Pay TV are the three solutions that make up the global market for video streaming. With a CAGR of 21.46% over the course of the projection period, the Over the Top (OTT) sector is expected to account for the biggest market share.
- The worldwide market for video streaming is segmented by platform into Smart TVs, Laptops & Desktops, Smartphone & Tablets, and Gaming Consoles. With a CAGR of 20.45% over the course of the projected period, the Smartphones & Tablets sector is expected to account for the biggest market share.
- Consulting, Managed Services, and Training & Support are the three service segments that make up the worldwide video streaming industry. Due to its rapid growth (CAGR of 21.45%) throughout the projection period, the Training & Support sector is expected to account for the biggest market share.
- The global market for video streaming is segmented by revenue model into three categories: advertising, rentals, and subscriptions. Due to its rapid growth throughout the projection period, the subscription sector is expected to account for the biggest market share.
- The global market for video streaming is segmented into cloud and on-premise deployments. The extensively utilised cloud deployment market is anticipated to expand at a CAGR of 21.44% over the projected period.
- The global market for video streaming is segmented by user into Enterprises and Consumers. The consumer category is expected to develop at the fastest rate and occupy the greatest market share.
- The worldwide video streaming market is examined by region, including the Middle East, Africa, Asia-Pacific, South America, and North America. The principal stakeholder is North America.
Video Streaming Market Regional Snapshots
Due to the presence of dominant players, North America is predicted to have the largest market share for video streaming throughout the projection period. The market is also rising as more people in the United States and Canada are using gaming platforms and video on demand services.
Asia Pacific is predicted to see the highest CAGR growth throughout the projection period. Due to customers’ quick adoption of various video streaming options including OTT platforms and video on demand, the industry is expanding at a significant rate.
Video Streaming Market Dynamics
Drivers
Smartphone use to view different TV series, movies, live sports, and events has considerably expanded, as has the demand for live and on-demand video content. The industry will see many trends in 2022 and beyond, including an increase in the number of OTT platforms and services, expanded commercial applications, more live streaming on social media platforms, and an increase in music streaming. During this time, there were also a growing number of new market entrants and suppliers of premium video streaming services with adaptable pricing structures. The number of mobile applications and professional digital learning sectors that affected market dynamics also increased significantly.
All of these elements significantly aided in the market’s expansion. Numerous well-known sports organisations are introducing free video streaming sites to broadcast live games and events as well as World Cup videos and documentaries from the past. Some of them provide subscription-based services, while others have platforms that work with Amazon Prime and Netflix. The most recent changes in digital marketing show the growing importance of video streaming in the workplace and how it helps companies expand quickly. The rising popularity of streaming is also causally related to the accessibility of video. The popularity of streaming among corporations and organisations grows as video quality improves.
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Restraints
The biggest issue facing the market is bandwidth restriction. People choose different qualities of bandwidth limitations since there are many sorts of bandwidth accessible on the market. There may be some connectivity problems during the video streaming if the bandwidth is limited. Therefore, individuals must be aware of the bandwidth restrictions, and it is up to the consumer to select the bandwidth that is comfortable and convenient for them. Thus, one of the biggest problems in the market for video streaming is caused by this.
Opportunities
The pandemic’s rapid expansion has had a significant influence on how people live their lives. In order to stop the epidemic from spreading, the government has enacted lockdown measures in numerous nations. People began to stay at home and conduct their business virtually as a result. The market for video streaming was altered as a result. The market value of video streaming has surged as a result of the lockout. Owing to the lockdown in recent days, people are more interested in utilising YouTube, Netflix, Hulu, and other streaming services. Before, due to the virus’s spread, individuals would stay in their homes and waste important time viewing videos. The valuation of the video streaming market has increased as a result.
Challenges
Costly content generation and technological issues are impeding market expansion. The transition from traditional television to online digital platforms over the past few years has significantly altered the way content is produced for different media. With the help of online entertainment companies like Netflix, Amazon.com, Inc., and Hulu, popular original shows including Bridgeton, Ginny & Georgia, and 25 21 have been successfully released. Producing such original material costs the corporations a lot of money. According to reports, companies like Amazon and Google LLC spent more than $3 billion USD on the creation of this material in 2018. As a result, the high expenses involved in producing content are impeding the growth of the video streaming sector.
Recent Developments
- In January 2022, THEO Technologies Inc., a provider of video technology, unveiled the low latency live streaming platform hesp.live. The quickest live streaming option is offered by the HTTP-based low latency real-time video streaming technology, which challenges the industry norm of several seconds. High Efficiency Streaming Protocol (HESP) is used on a broad scale by THEO Technologies for live video interactivity in a variety of sectors, including betting, gambling, auctioning, sports, and live events.
- In September 2021, Roku unveiled a 4K streaming stick with a quicker user interface and Wi-Fi connection. There are two variants of the cutting-edge streaming gadget known as the Roku Streaming Stick 4K. Both variants have an HDMI connector, TV compatibility, and Dolby Vision.
