In terms of revenue, the Global Video Streaming Market is expected to reach USD 180.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 20.50% from 2022 to 2028.
Video Streaming is the practice of transmitting media files online as a stream of compressed data. It depends on an active internet connection and a player to uncompress the file, allowing the audio and visual data to be sent to the speakers and display. One of the main reasons favorably affecting the industry is the expanding internet use and the rising sales of mobile phones. In addition, there has been a noticeable increase in the demand for Video Streaming services in colleges, universities, and institutions worldwide. Leading market participants also incorporate blockchain, Machine Learning (ML), and Artificial Intelligence (AI) technologies to enhance video quality.
Key Highlights from Report:
· The Live Video Streaming segment dominated the growth of the Video Streaming Market in 2021. The segment's expansion is linked to the rise in popularity of digital media devices and the ease with which remote access to media content is now possible, thanks to faster internet. Ad-free content, mobile viewing, analytics tracking, the utilization of a lot of content, a large audience potential, and high-quality streams are a few more elements that enhance the Live Video Streaming. Live Video Streaming is extremely important in live programming like sporting and musical events.
· The Over-the-Top (OTT) segment dominated the growth of the Video Streaming Market in 2021. OTT solutions deliver movies and TV shows online without requiring consumers to have a subscription to a typical cable or pay-TV provider. Due to the rising demand for better business process automation and the full availability of broadband infrastructure, the segment is anticipated to increase significantly throughout the projection period. Due to the fierce competition, emerging OTT elements like hybrid monetization models, digital original content, and content fragmentation will likely enhance the segment's growth.
· Asia Pacific is predicted to mention the fastest growth of the Video Streaming Market during the forecast period. The consumption of material by viewers in the Asia Pacific region has changed due to over-the-top (OTT) solutions. The region's established telecommunications companies and multichannel operators have sought business innovation and advancement by employing cutting-edge marketing strategies like Video Streaming. Southeast Asian operators have increased their revenue options by providing Video Streaming multichannel services alongside fixed-mobile bundles due to the region's fastest-growing broadband internet population. The market in the Asia Pacific is expanding as a result of these initiatives.
Through social media platforms, customers are increasingly adopting low latency streaming videos and live streaming, which helps the market expand. Leading market players are also creating sophisticated low latency live streaming video solutions. This is mostly due to growing user popularity, which supports the expansion of the global market for Video Streaming. Due to rising consumer expenditure on media and entertainment, more people are using video-on-demand services globally, which helps businesses develop.
North America is accounted to have potential growth in the Video Streaming Market during the forecast period. This was mostly caused by the explosive expansion of streaming services that operate on the cloud. Regional market expansion is fuelled by elements including the recent widespread use of Video Streaming and the presence of major industry players like Netflix Inc. and Amazon Web Services. Additionally, the market is being driven by established technology development hubs. In addition, expanding partnerships across the institutional, network, and governmental partners stimulates market expansion in the area.
The Global Video Streaming Market is Segmented as follows:
- Streaming Type
- Live Video Streaming
- Non-Linear Video Streaming
- Internet Protocol TV
- Over-the-Top (OTT)
- Gaming Consoles
- Laptops & Desktops
- Smartphones & Tablets
- Smart TVs
- Managed Services
- Training & Support
- Revenue Model
- Deployment Type
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players in the Global Video Streaming Market is:
Akamai Technologies, Amazon Web Services Inc., Apple Inc., Cisco Systems Inc., Google LLC, Kaltura Inc., Netflix Inc., International Business Machine Corporation (IBM Cloud Video), Wowza Media Systems LLC, Hulu LLC
The Global Video Streaming Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|