As per TechSci Research, the Global Video Streaming Market was valued at USD 87.01 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 20.87% through 2028. The global video streaming market is poised for growth driven by the increasing adoption of video-on-demand services and rising consumer expenditure on media & entertainment. Video streaming services, facilitating the seamless viewing of videos, movies, TV shows, and diverse content over the internet and satellite/cable networks, offer users a convenient means to access a vast array of video content across multiple devices such as smartphones, tablets, computers, and smart TVs.
The market’s growth is underpinned by the escalating consumer demand for on-demand and personalized entertainment experiences. Streaming services, with their extensive libraries of movies, TV shows, documentaries, and original content, cater to individual preferences and viewing habits, thereby attracting millions of subscribers worldwide. This trend has led to a significant transition away from traditional cable or satellite TV subscriptions.
Intense competition characterizes the global video streaming market, with companies vying for market share by investing in high-quality original content, securing exclusive licensing deals, and enhancing user experience through personalized recommendations and user-friendly interfaces. Additionally, the integration of blockchain technologies and Artificial Intelligence (AI) is enhancing video quality, with AI playing a crucial role in various aspects of video production and distribution, such as editing, cinematography, voice-overs, and scriptwriting.
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Moreover, the market has witnessed the emergence of regional and niche streaming services targeting specific audiences and interests, offering localized content, regional languages, and specialized genres to deliver a tailored viewing experience.
The global video streaming market is segmented based on streaming type, delivery source, platform, revenue model, and region. Non-linear video streaming, offering flexibility and convenience, dominates the market, while the over-the-top (OTT) platform segment holds a significant share owing to its wide range of content choices and accessibility across multiple devices. Subscription-based revenue models lead the market, fueled by the growing number of video streaming subscriptions globally.
Key market players operating in the global video streaming market include:
- International Business Machines Corporation
- Alphabet, Inc. (Google LLC)
- Amazon.com, Inc.
- Netflix, Inc.
- Hulu LLC (The Walt Disney Company)
- Apple, Inc.
- Roku, Inc.
- Haivision Systems Inc.
- Brightcove, Inc.
- Kaltura, Inc.
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Mr. Karan Chechi, Research Director at TechSci Research, emphasizes the main drivers of industry growth, including rising internet penetration, demand for online and on-demand videos driven by smartphone and tablet usage, and AI’s role in improving video quality. The comprehensive report, “Video Streaming Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, offers valuable insights to decision-makers, enabling informed investment decisions and providing a comprehensive analysis of market trends, drivers, challenges, and opportunities in the global video streaming market.
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