Video Streaming Market

Video Streaming Market Outlook (2024 to 2034)

The global video streaming market is estimated to have a value of US$ 66.7 billion in 2024 and has been forecast to register a CAGR of 15.5% to reach US$ 281.8 billion by 2034.

During the outbreak of COVID-19, people were confined to their homes, which gave a huge boost to the popularity of video streaming platforms. This led to a high amount of time spent online, prompting streaming services to introduce new content or re-air existing content. This substantially increased video streaming viewership globally.

The effects of the pandemic opened numerous opportunities for users and are expected to increase during the forecast period. Furthermore, internet-enabled smart televisions with captivating picture quality such as FHD (Full High Definition), HD (High Definition), and 4K is contributing to the increasing subscription for video streaming services.

Growing preference for online visual entertainment platforms, owing to greater access to the digital media is one of the video streaming market trends. Video streaming platforms are investing in creating original content for premium subscribers. This is directly increasing the competition among them. The competition gives consumers a plethora of options to choose from, which is further boosting the demand for video streaming services.

• North America is estimated to account for 23.9% of the global video streaming market share in 2024.
• The East Asian video streaming market size is forecasted to reach US$ 65.1 billion by 2034.

Report Attributes	Details
Video Streaming Market Size (2024E)	US$ 66.7 Billion
Forecasted Market Value (2034F)	US$ 281.8 Billion
Global Market Growth Rate (2024 to 2034)	15.5% CAGR
South Korea Market Value (2034F)	US$ 15 Billion
Key Companies Profiled	Novi Digital Entertainment Pvt. Ltd (Hotstar) Iflix Netflix, Inc. Tencent HOOQ Rakuten Viki Akamai Technologies Google LLC Cisco Systems, Inc. Microsoft Corporation International Business Machine Corporation (IBM Cloud Video) Wowza Media Systems, LLC Hulu, LLC Amazon Web Services, Inc. Kaltura, Inc.

Which Market Dynamics are Influencing Adoption of Video Streaming Platforms?

“Surge in Entertainment and Online Education Content Boosting Sales of Ad-Supported Video on Demand Solutions”

Developing local content particularly among high-potential regions is a major competitive strategy used by key market players. Amazon, Netflix, and YouTube are some of the online content platforms partnering with social media influencers, and celebrities to create regional content that appeals to local communities.

Education end-uses of video streaming are a remunerative trend to keep an eye on. The prevalence of e-learning across the globe is further creating surging demand for real-time video streaming of course content, and boosting utilization of mobile video optimization technologies. In addition, Tech-driven advancements such as 3-dimensional videos, virtual reality, and augmented reality are presenting profitable prospects for video-on-demand services. Moreover, this is also increasing video streaming on other connected devices in urban households such as smartphones, tablets, and laptops.

Organizations are analysing consumer behavior using consumer sentiment analysis to differentiate content amid stiff competition. Streaming rights, and cost-efficient production of video content are dictating profits and sustained growth.

“Work from Home Trend Driving Demand for Video PaaS”

The ongoing trend of work-from-home is boosting the video streaming market growth. Video streaming services such as video conferencing and video call meetings are garnering multiplying users every day. Popular service providers such as Zoom Video Communications and Microsoft Teams are continuously advancing infrastructure capacity to keep their video streaming services from crashing. The integration of advanced cloud-based managed services and video management software are further expected to boost video streaming service providers’ revenue growth.

Which Challenges are Faced by Video Streaming Companies?

“Concerns Related to Privacy and Data Protection”

Rising concerns related to privacy and data protection are expected to hamper the adoption of enterprise video streaming solutions among corporate operations. Digital pirates are creating major loss to media companies by releasing the original content before the set release date. Apart from this, unique content production requires substantial investments so producers are under pressure to earn high profits. The duplication of content or piracy thus leads to huge loss of content producers.

Start-up Ecosystem :

• Clipp TV is a Singaporean start-up that offers an AI video clipping and streaming platform for event organizers. Through the use of the platform authorized guests are also able to upload clips and videos of the events to organizers streams.
• Condense is a British start-up that enables video creators and influencers to live stream events in 3D virtual world. It is a combination of portable multi-camera system and a cloud platform with high-performance decoding and variable bitrates.

Country-wise Analysis

North America is a big market for video streaming service providers driven by the presence of strong user base. The rising OTT platforms and video streaming solutions are driving the market growth in East Asia.

How are Video Streaming Solution Companies Faring in the United States?

“High Popularity of Video Streaming Subscription-based Platforms”

Attribute	United States
Market Value (2024E)	US$ 7.1 Billion
Growth Rate (2024 to 2034)	16% CAGR
Projected Value (2034F)	US$ 31.2 Billion

Presence of major video streaming platforms such as Netflix and Amazon Prime are primary factors for share-wise command of the United States in North America. Innovations and development of advanced streaming technologies is enabling data efficient streaming of content. Moreover, strong cloud network and internet connectivity such as 5G network are accelerating the demand for video streaming solutions.

• According to Statista report 2021, the average consumption of video streaming services by an American adult is around 8 hours. This represents favourable consumer trends in the United States.

Which MEA Countries Will Be Opportunistic Video Streaming Hubs?

“Penetration of Smartphone Companies Surging Demand for Video Streaming Platforms in Iran and Saudi Arabia”

Usage of the internet is increasing in Iran and Saudi Arabia. Penetration of mobile and tablet companies is further driving the demand for video streaming in the MEA region. Moreover, technological advancements along with increasing inclination towards educational, sports and entertainment content is positively influencing the sales of video streaming services.

What is the Demand Outlook for Video Streaming Services in South Korea?

“Sky-high Popularity of Korean Content Driving Demand for Online Content Streaming Solutions”

Attribute	South Korea
Market Value (2024E)	US$ 3.3 Billion
Growth Rate (2024 to 2034)	16.3% CAGR
Projected Value (2034F)	US$ 15 Billion

Rise in OTT platforms and video on demand streaming solutions is contributing to the market growth in South Korea. Korean movies and web series are gaining traction across the Asian region. Furthermore, the surge in social media content through various apps is expected to drive the South Korea market growth during the next 10 years.

Category-wise Analysis

Increasing craze of social media applications and increase in the number of social media influencers is expected to boost the profits of live streaming service providers in the coming decade.

Will Live Streaming Expand Profit Pools of Video Streaming Companies?

“Rising Preference for Sports Live Streaming Widening Market Growth Prospects”

Attribute	Live Streaming
Segment Value (2024E)	US$ 40 Billion
Growth Rate (2024 to 2034)	14.5% CAGR
Projected Value (2034F)	US$ 155 Billion

Leveraging the strong fan-base of live sports, and entertainment events, the live streaming services are gaining traction. Digitization initiatives by international sports associations coupled with strong cloud infrastructure are expected to create perpetual demand for video streaming in the next 10 years. Furthermore, the ease of using live telecasting through the medium of YouTube has made viewing easier for people across locations. Thus, live streaming is expected to exhibit high demand throughout the forecast period.

Is Convenience of Personal Viewing Increasing Online Streaming on Smartphones and Tablets?

“Individual Viewership of Online Content Boosting Demand for Tablet and Mobile-based Streaming Subscription Services”

Attribute	Smartphones and Tablets
Segment Value (2024E)	US$ 32 Billion
Growth Rate (2024 to 2034)	16.4% CAGR
Projected Value (2034F)	US$ 146.5 Billion

Most people prefer personal and individual viewing of different type of content. As every individual has a different choice of watching content, the focus is shifting from watching shows with family on television to watching shows individually and alone. Moreover, in the last decade, the sales of smartphones and tablets have surged drastically. In addition, online classes, seminars, educational apps are contributing to high viewing of online content on mobiles and tables.

Competitive Landscape

Key players in the video streaming industry are expanding their global presence by collaborating with existing players or online security and traffic management providers. They are also investing in R&D to introduce advanced features to their video streaming solutions.

• In 2023, Brightcove announced the official launch of ‘Communications Studio’ a video streaming solution to enhance the internal communication operations in an organization.

Key Segments of Video Streaming Market Research

• By Streaming Type :

  • Live Video Streaming
  • Non Linear Video Streaming

• By Delivery Channel :

  • Video Streaming via Internet Protocol TV
  • Over-the-Top (OTT) Video Streaming
  • Video Streaming through Pay-TV

• By Platform :

  • Gaming Consoles
  • Laptops & Desktops
  • Smartphones & Tablets
  • Smart TV

• By Service :

  • Video Streaming for Consulting
  • Video Streaming for Managed Services
  • Video Streaming for Training & Support

• By Revenue Model :

  • Video Streaming through Advertising
  • Rental Video Streaming
  • Subscription-based Video Streaming

• By End Use :

  • Enterprises
  • Corporate Communications
  • Knowledge Sharing & Collaborations
  • Marketing & Client Engagement
  • Training & Development
  • Consumers
  • Real-Time Entertainment
  • Web Browsing & Advertising
  • Gaming
  • Social Networking
  • E-Learning
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa