The global video streaming market size is expected to reach USD 184.3 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 20.4% from 2020 to 2027. Rising technological advancements such as implementation of block-chain technology in video streaming and use of artificial intelligence (AI) to improve content quality are expected to boost market demand over the forecast period. Furthermore, growing adoption of cloud-based streaming solutions to increase the reach is directly influencing market growth. This trend is observed in numerous parts of North America and Asia Pacific.Factors behind the growth of these regional markets include rapid digitalization, increasing use of mobiles and tablets, and growing popularity of online viewing.
Globally, the rising demand for on-demand video and extensive growth of online video are key drivers of the market. Moreover, increasing demand for high-speed internet connectivity acts as an advantage for the market. The growing acceptance of smartphones in combination with an extensive range of high-speed internet technologies such as 3G, 4G, and LTE has substantially led to the trend of online broadcasts. In addition, the growing demand for devices that can support digital media is helping consumers’ access media content anywhere in the world.
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The market can be categorized, based on stream type, into live and non-linear video. The ability to view content via the internet and in real-time can be defined as live streaming. This segment is expected to portray the highest growth over the forecast period. Based on solution, the market has been segmented into internet protocol TV, over-the-top (OTT), and pay-TV. OTT-based solutions deliver film and TV content through the internet without the need to subscribe to a traditional cable or pay-TV services.
In 2019, smartphones and tablets held the largest share based on platform, majorly due to easy accessibility of the internet, increasing disposable income, better standard of living, and changing lifestyle. The smart TV segment, on the other hand, is expected to register healthy growth over the forecast period.Based on revenue model, the subscription segment, including providers such as Netflix and Amazon Prime, held the largest share and is expected to register the fastest CAGR over the forecast period. This can be attributed to wide variety of content and availability of various subscription plans.
Further key findings from the study suggest:
- Increasing usage of videos in corporate training and in the education sector are anticipated to drive the market
- The over-the-top (OTT) segment held the largest revenue share and is also expected to grow at the fastest pace over the forecast period
- Asia Pacific is expected to witness significant growth over the forecast period, majorly due to increasing demand for high-speed internet connectivity and on-demand video streaming
- Key players in the video streaming market include Akamai Technologies; Amazon Web Services, Inc.; Apple Inc.; Cisco Systems, Inc.; Google; Kaltura, Inc.; Netflix; International Business Machine Corporation (IBM Cloud Video); Wowza Media Systems, LLC; AT&T Intellectual Property; and Hulu.
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Grand View Research has segmented the global video streaming market based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:
Video Streaming Type Outlook (Revenue, USD Billion, 2016 – 2027)
Video Streaming Solution Outlook (Revenue, USD Billion, 2016 – 2027)
- Internet Protocol TV
- Over-the-Top (OTT)
Video Streaming Platform Outlook (Revenue, USD Billion, 2016 – 2027)
- Gaming Consoles
- Laptops & Desktops
- Smartphones & Tablets
- Smart TV
Video Streaming Service Outlook (Revenue, USD Billion, 2016 – 2027)
- Managed Services
- Training & Support
Video Streaming Revenue Model Outlook (Revenue, USD Billion, 2016 – 2027)
Video Streaming Deployment Type Outlook (Revenue, USD Billion, 2016 – 2027)
Video Streaming User Outlook (Revenue, USD Billion, 2016 – 2027)
- Corporate Communications
- Knowledge Sharing & Collaborations
- Marketing & Client Engagement
- Training & Development
- Real-Time Entertainment
- Web Browsing & Advertising
- Social Networking
Video Streaming Regional Outlook (Revenue, USD Billion, 2016 – 2027)
- North America
- Asia Pacific
- South America
- Middle East and Africa (MEA)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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