What Has Been the Growth of the Video Streaming Market So Far?
The video streaming market has seen considerable growth due to a variety of factors.
• The video streaming market has experienced remarkable growth in recent years. It will grow from $699.91 billion in 2024 to $855.17 billion in 2025, with a CAGR of 22.2%.
The increase is attributed to rising demand for encoders, the growing popularity of on-demand streaming, increased demand for video services in educational institutions, increased time spent online, and the rising use of videos in corporate training.
How Will the Video Streaming Market?
The video streaming market is expected to maintain its strong growth trajectory in upcoming years.
• The video streaming market is expected to grow to $1883.42 billion by 2029, with a CAGR of 21.8%.
This growth is driven by rising consumer spending on media, increased mobile phone sales, more internet connections, recognition of OTT platforms, and a rise in live-streamed content. Trends in the forecast period include advancements in video streaming technology, innovative platforms, blockchain integration, AI enhancements, and demand for video streaming software.
Which Factors Are Boosting Growth In The Video Streaming Market?
The surging demand within the media and entertainment segment is anticipated to fuel the advancement of the video streaming industry in the future. Media and entertainment covers a wide sector that offers different kinds of content creation, delivery, and utilization meant for information, amusement, and interaction with audiences. Factors such as alterations in consumer patterns, diversity of content, impact of social media, and creative content propagation have led to a notable increase in demand for media and entertainment. Video streaming provides flexibility, convenience, and variety of content within its platforms for media and entertainment, including greater access to audiences, cost-effective distribution, critical data analytics, multiple sources of income, and enhanced viewer involvement. For instance, figures from the Digital Entertainment and Retail Association (ERA), a US-based entity, revealed that in January 2024, UK spending increased by 9.6% in 2023 on music streaming subscriptions, vinyl discs, and CDs, up from 5% in 2022. Furthermore, the UK's entertainment market saw a rise of 7% in 2023. Therefore, the increased expenditure by consumers on media and entertainment fuels the video streaming industry.
What Key Areas Define The Segmentation Of The Global Video Streaming Market?
The video streaming market covered in this report is segmented –
1) By Component: Software, Content Delivery Services
2) By Type: Video On-Demand, Live Video Streaming
3) By Revenue Model: Subscription, Pay Per View, Premium Purchases, Advertisement-Based Revenue Model, Other Revenue Models
4) By End User: Residential, Commercial
Subsegments:
1) By Software: Video Encoding Software, Video Management Software, Video Analytics Software, Streaming Software
2) By Content Delivery Services: Content Delivery Networks (CDN), Cloud-based Delivery Services, Peer-To-Peer Delivery Services
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What New Trends Are Influencing The Video Streaming Market?
Key players in the video streaming market are prioritizing the development of groundbreaking technologies like adaptive video optimization technology. This technology enhances the user experience by providing smooth and maximized streaming across multiple platforms and devices. It utilizes complex algorithms to modulate video quality in response to network conditions, device capacities, and bandwidth availability. This allows viewers to enjoy high-quality videos without interruption, even under problematic network circumstances. An example of this occurred in May 2024, when Agora, a U.S. provider of video streaming services, introduced its Adaptive Video Optimization (AVO), including support for the AV1 video codec. Employing advanced machine-learning algorithms, this technology addresses common complications by dynamically modifying video quality in response to network conditions, device capabilities, and available bandwidth. Moreover, it ensures superior video quality and optimal performance, even when network conditions fluctuate.
Who Are the Key Players In The Video Streaming Market?
Major companies operating in the video streaming market are:
• Amazon Prime Video
• Netflix Inc.
• Paramount
• Discovery Communications Inc.
• Hulu LLC
• Disney
• iQIYI Inc.
• Apple TV
• Viaplay Group AB
• DAZN Group
• YouTube
• Hotstar
• Crunchyroll Inc.
• Tubi Inc.
• Kaltura Inc.
• Viki Inc.
• SonyLIV
• Sling TV LLC
• Funimation Productions Ltd.
• Pluto TV
• Peacock
• BritBox
• Acorn TV
• Voot
• Shudder LLC
What Is The Most Dominant Region In The Video Streaming Market?
North America was the largest region in the video Streaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
