Video Streaming Industry Overview
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.
Gather more insights about the market drivers, restrains and growth of the Global Video Streaming Market
Moreover, the rapid adoption of mobile phones owing to the growing popularity of social media platforms and other digital mediums for branding & marketing is anticipated to fuel the market growth.
The growing adoption of cloud-based solutions is boosting the market growth. This trend is majorly observed in North America and Europe. Ongoing innovations and technological advancements are expected to meet the growing users’ expectations for exceptional video quality, performance, and security. For instance, in April 2019, Akamai Technologies spotlighted its innovations in delivering digital experiences of high quality at the 2019 NAB Show (U.S.). The company showcased its advancement in live and on-demand media services such as cloud wrapper, direct connect, and cloud interconnects.
The rising adoption of digital media across various industries has resulted in the population’s inclination toward multiple streaming services. For instance, in November 2019, Apple Inc. entered the online video cascading industry by launching its TV+ service. In June 2019, Wowza Media Systems, LLC announced the launch of a complete range of professional services for video-related solution providers. Furthermore, in March 2019, Google, the subsidiary of Alphabet Inc., unveiled its cloud-based gaming console, Yeti, which features a game streaming service along with gaming hardware.
The increase in technological advancements and the number of service providers in the market pose a threat to the standalone streaming giants. For instance, in July 2019, AT&T Intellectual Property launched a new streaming service called AT&T TV to facilitate people watching television online. In April 2018, Amazon.com, Inc. partnered with Google to bring official YouTube applications to Amazon’s Fire TV. These complementary services for television and other entertainment content are anticipated to pose a threat to existing key players in the market.
In the education and academic sector, videos can be effectively used in webinars and courses to enhance teaching and learning processes. Visual recordings have a powerful impact on students’ ability to retain information. Therefore, universities, schools, and colleges are now creating multimedia content and delivering it in the form of video presentations. Factors such as easy access to educational video content, growing demand for mobile devices, and increasing availability of the internet are positively influencing the adoption of live video streaming services for educational purposes.
The COVID-19 pandemic placed more than one-fourth of the world’s population under lockdown. As millions of individuals remained locked into their homes, the online video streaming and entertainment services experienced a rise of around 10% in viewership during the lockdown. As a result, video streaming platforms such as Netflix, Amazon Prime Video, YouTube, and Disney+ registered a spike in the viewership worldwide. For instance, in March 2020, Netflix registered an increase of more than 50% in the number of new installations of its mobile application in Italy and more than 30% of that in Spain.
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- Pay TV Market - The global pay TV market size was valued at USD 230.68 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) exceeding 1.7% from 2021 to 2028. The emerging demand amongst consumers to leverage better quality content with high picture resolution is offering promising growth opportunities to the market.
- Internet Protocol Television Market - The global internet protocol television market size was valued at USD 39.2 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% from 2020 to 2027. The rising trend of viewing content via the internet and the continuous price reduction of bundled packages is expected to increase the subscriber base.
Market Share Insights
March 2020: Netflix registered an increase of more than 50% in the number of new installations of its mobile application in Italy and more than 30% of that in Spain.
July 2019: AT&T Intellectual Property launched a new streaming service called AT&T TV to facilitate people watching television online.
Key Companies profiled:
Some prominent players in the global Video Streaming market include
- Akamai Technologies
- Amazon Web Services, Inc.
- Apple Inc.
- Cisco Systems, Inc.
- Google LLC
- Kaltura, Inc.
- Netflix, Inc.
- International Business Machine Corporation (IBM Cloud Video)
- Wowza Media Systems, LLC
- Hulu, LLC
Order a free sample PDF of the Video Streaming Market Intelligence Study, published by Grand View Research.
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