The global video streaming market size was valued at USD 59.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.3% from 2022 to 2030. Innovations such as blockchain technology and Artificial Intelligence (AI) are used to improve video quality. AI is playing an essential role in editing, cinematography, voice-overs, scriptwriting, and several other aspects of video production and upload. These innovations are anticipated to positively influence the growth of the market. Various video streaming solution providers are using AI to improve the content quality of videos. In the recent past, the popularity of such platforms over broadcast media such as YouTube and Netflix has increased considerably. In May 2016, Netflix implemented AI to create a superior personalized experience for its subscribed consumers.
The live streaming segment accounted for the largest revenue share in 2021, with around 61% market share. The segment growth is attributed to surging demand for digital media devices and the availability of faster internet to access media content remotely. Some of the other factors that enrich the live streaming of videos are ad-free content, mobile viewing, analytics tracking, abundant content use, immense audience potential, and high-quality streams.
Global Subscription Video On Demand Market 2019 Expected To Grow Faster According To New Research Re
Live content such as sports and musical events have preserved the high importance of live video streaming. However, non-linear streaming is expected to demonstrate significant growth over the coming years owing to the convenience and series linking. Several other factors that fuel the growth of the non-linear streaming segment in the industry include watch-time feasibility, no buffering, large capacity, and live pause. Moreover, video-on-demand is expected to become mainstream in all age-group populations with both the streaming types.
The smartphones and tablets segment accounted for the largest revenue share in 2021, with over 31% market share. The growth of this segment is attributed to the factors such as easy accessibility of the internet, increasing disposable income, better standard of living, and changing lifestyles. Moreover, the smart TV segment is expected to register significant growth over the forecast period as smart TV offers a comprehensive option of TV channels along with video streaming services such as Netflix.
The subscription segment accounted for the largest revenue share in 2021, with more than 43% market share. The growth of the segment is attributed to the increasing number of video streaming subscriptions worldwide. Moreover, the subscription model offers streaming of online videos with an access fee or a subscription. For instance, Netflix offers various monthly subscription plans or programs.
Advertising is one of the common forms of monetizing streaming videos where the revenues are generated from advertisers. Since advertisers pay a massive amount for streaming their advertisements on on-demand streaming platforms owing to the marketing requirements, the advertising segment accounts for a significant share of the market. However, subscription models have gained momentum owing to a wide variety of video content as well as original content offered by the OTT providers such as Netflix Originals and Prime Originals.
The cloud segment accounted for the largest revenue share in 2021, with more than 58% of the market share. The advancements in cloud computing have revolutionized video streaming and enabled the creation of platforms such as YouTube and Netflix for streaming purposes. The cloud segment in Asia Pacific is expected to register the highest CAGR in the coming years. In 2020, the segment accounted for the largest market share in North America and attributed to the growth of cloud-based services in countries such as the U.S. and Canada.
The consumer segment accounted for the largest revenue share in 2021, with nearly 51% market share. This is attributed to the rise in the viewership of video on demand and live streaming services from the media and entertainment sector. The consumer segment is anticipated to grow owing to the convenience offered by watching videos remotely. Increasing mobile subscriptions and the adoption of connected devices, especially smartphones, are expected to contribute to the growth of the segment.
The enterprise segment is expected to grow at a CAGR of 21.8% over the forecast period. This growth is attributed to the increasing use of video streaming services by enterprises for training and consulting. Technological advancements such as superior video codec, web-based real-time communication, captioning, indexing, and transcoding and aggregation are expected to spur the demand for video streaming for enterprise users. Moreover, the technology improves the communication efficiency in an organization through measures such as on-demand video and flexibility in remote working conditions.
North America accounted for the largest revenue share of the video streaming market in 2021, with a 38.7% share. This was majorly owing to the rapid growth of cloud-based streaming services. The European region is expected to witness a steady growth owing to the large population watching online content. Moreover, Asia Pacific is projected to demonstrate significant growth at the highest CAGR over the forecast period owing to the increasing use of mobiles and tablets, rapid technological advancements, and the popularity of online streaming.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global video streaming market report based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:
The global video streaming market size was valued at USD 372.07 billion in 2021. The market is projected to grow from USD 473.39 billion in 2022 to USD 1,690.35 billion by 2029, exhibiting a CAGR of 19.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with video streaming experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a higher growth of 5.7% in 2020 as compared to 2019.
In addition to this, increasing video data traffic around the globe owing to a surge in demand for better resolutions based videos have propelled the market growth. Also, players in the market are developing advanced platforms in order to meet the growing demands across the education sector. For instance,
The influence of COVID-19 pandemic is expected to result in a considerably positively impacted the global market size during the analysis period. This is attributed to the substantial acceleration in the adoption of online live streaming supported by favorable regulations and decline in in-person visits to physicians. The global market observed a humongous growth rate of 5.7% in 2020 as compared to 9.8% in 2019. In terms of revenue, the market witnessed an increase in revenue to USD 297.40 billion in 2020.
Rising adoption of low latency streaming videos and surging live streaming adoption by the consumers through social media platforms aid the market growth. Also, leading players in the market are developing advanced low latency live streaming video platforms. This primarily owing to rising popularity among the users aids the demand for global video streaming market growth. For instance,
Rising number of video on demand services users around the globe owing to surging consumer spending on media and entertainment aids the market growth. According to the Motion Picture Association Report in 2020, online VoD users jumped to around 1.10 billion during the COVID-19 pandemic and is expected to reach 2.00 billion users by 2023.
Further, in 2020, the combined online video subscriptions of the streaming service providers such as Netflix Inc. and Disney+ increased by 26% reaching around 230 million new subscriptions compared to 2019. Such an increase in subscribers of the OTT platforms has created a massive demand for market growth. Further, as per the Deloitte Report in 2020, there were around 2.5 subscriptions based video on demand streaming services per household in the United States Such, rising the number of subscribers for the video on demand services around the globe aids the market growth.
OTT streaming is expected to grow with the highest CAGR during the forecast period owing to surge in OTT platform adoption in developing countries such as India, Brazil, and others. According to the BCG Report in 2021, India has around 70 to 80 million paid users of the OTT platforms. Such increase in OTT users is expected to drive the OTT streaming market globally.
On the basis of vertical, the scope includes market share by education/e-learning, healthcare, government, sports/esports, gaming, enterprise and corporate, auction and bidding, fitness & lifestyle, music & entertainment, others (transportation). Among these, sports/esports held the largest share in 2021 owing to surge in adoption of online esports platform users. According to the Frontiers Organization Report in 2019, the global esports players reached 454 million and are expected to reach 557 million by 2023.
North America is predicted to dominate the market share during the video streaming market forecast period owing to the presence of leading players such as Netflix, Inc., Alphabet Inc., Amazon.com, Inc., Microsoft Corporation, and others. Further, increasing number of users for video on demand and video gaming platforms across the U.S. and Canada aids the market growth. According to the Entertainment Software Association in 2020, there were around 214 million video game players in the U.S. Among this, 75% of all households have at least one person who plays video games.
Asia Pacific is expected to grow with the remarkable CAGR for the global video streaming market share during the forecast period. The market is growing with a significant growth rate, owing to rising adoption of the several video streaming solutions such as video on demand and OTT platforms among the consumers. Also, leading players in Asia Pacific such as Disney+ Hotstar, Tencent Holdings Ltd., and others are developing streaming software and expanding their services. For instance, 2ff7e9595c
Comments