August 2024
03 May 2024
The video streaming market size reached USD 526.26 billion in 2023 and is projected to surpass USD 1,721.4 billion by 2030 with a significant CAGR of 18.45% from 2022 to 2030. The video streaming market is growing due to the increasing user expenditure on entertainment and media and better & affordable internet services.
The video streaming market is a constant transmission of video files from a server to users. Video streaming helps consumers to watch videos online without downloading them. Streamed video content consists of YouTube videos, TV shows, movies, and web series. The rising internet connectivity and growing popularity of social media platforms are expected to drive market growth. Increasing video data traffic around the world, expecting an increase in demand for better video, has anticipated market growth. Market key players are also developing technologically advanced platforms, which has resulted in meeting increasing demand in the education industry. In addition, ongoing technological advancements and innovations are considered to meet consumers' demands for exceptional security, performance, and better video quality, and they are also anticipated to drive the growth of the video streaming market.
High adoption of online video streaming fuels the market growth
The consumption of digital media is growing rapidly. Due to the rising demand for devices capable of faster internet speed and providing digital media, users can access media content anywhere and anytime. The rising numbers of digital media players such as Amazon, Hulu, Apple TV, Netflix, Hotstar, Zee5, and other platforms are facing the dominance of convenient television as the primary entertainment platform. The rising prevalence of smartphones, including the vast arrangement of high-speed internet technologies, including LTE, 4G, 35, and 5G, has resulted in a growth in data consumption. Global video and audio traffic have surged the internet data utilization. Moreover, there is a developing market for consumer electronics and connected devices that can help high-speed internet technologies and digital media that support users to access video from anywhere in the globe. These major factors have significantly contributed to the surge in popularity of video streaming platforms and are further anticipated to drive the growth of the video streaming market.
However, some of the major factors that may restrain the growth of the market include network latency and congestion. The consumer’s device can take too much time to receive data from some segments of the network connection, or streaming servers are clogged up. In addition, the customer consuming the streaming video may have a slow wired internet connection, a 3G mobile internet connection, and slow WIFI. A large number of consumers in rural areas or emerging countries may not have access to a high-speed internet connection. Moreover, Video streaming needs perfect processing power on a slow device, and the user’s device can result in low video performance. These are the major restraining factors expected to hinder the growth of the market.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 526.26 Billion |
| Projected Forecast Revenue by 2030 | USD 1,721.4 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 18.45% |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Asia Pacific is expected to grow highest in the forecast period. Due to the increasing usage of tabs and smartphones, rising technological advancements, and increasing acceptance of online streaming videos, the market is expected to grow in the Asia Pacific region. China, India, Japan, and South Korea are the developing countries in the Asia Pacific.
In China, online video streaming content has become a necessary marketing tool for brands attempting to engage and connect with more consumers. The outstanding growth and demand of this trend eventually led to the increase of Chinese video streaming platforms in Mainland China. It created new opportunities for foreign and local businesses to understand the local consumption trends and to enlarge their audience reach. In China, billions of internet users watch online videos. There are various leading online video streaming platforms in China, such as iQiyi, Youku-Tudou, Tencent Video, Le.com, and Bilibili. These are the major factors and major platforms that are expected to drive the growth of the video streaming market in China.
North America dominated the market in 2023. The rapid growth of cloud-based streaming services and increasing usage of smartphones are anticipated to drive market growth in North America. The United States and Canada are the major emerging countries in North America.
The U.S. has the largest video streaming market. The increasing prevalence of smartphones and online consumers with high-speed internet consumption is rapidly growing. The list of startups and companies in the United States on the video streaming platform offers data on their acquisition trends, investment activities, and funding history. Insights about leading M&A activities, notable investors, investments, startups, leading companies, and recent news are also included. Netflix is the leading and most viewed OTT platform in the United States. The Netflix app has been preferred by almost 45% of video streaming application viewers in the United States. YouTube is the second major trending video and music app in the U.S. 90% of the internet content is downloaded and utilizes the largest video streaming to watch users’ favorite videos and listen to music in the United States. Disney+ Hotstar is the third largest video streaming app in the United States. It is the most popular video streaming app in the U.S. and provides Genre content. Amazon Prime Video is a famous video streaming app with 172 million subscribers in the U.S.. In addition, Hulu is the fifth video-streaming mobile app in United. These are the leading video streaming companies that are expected to drive the growth of the video streaming market in the U.S.
Increasing impact of video streaming in the educational sector
One of the major contributions of streaming video technology to education is the democratization of access to learning. On-demand and live video streaming platforms will make it possible for students to learn remotely with educational content. Streaming technology has reconsidered the dynamics of engagement in the educational sector. Some advanced factors can empower students to actively participate in activities and discussions, such as virtual classrooms, interactive live-streaming sessions, and real-time collaboration tools. Steaming technology will also contribute significantly to cost efficiency in the educational sector. These are the major opportunities that are anticipated to drive the growth of the market in the near future.
Market Segmentation
By Streaming Type
By Component (USD)
By Solutions
By Platform
By Service
By Revenue Model
By Deployment Type
By End User
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