Overview of the Video Streaming Market
The video streaming market has been growing at an unprecedented pace over the last few years. The emergence of high-speed internet, the ubiquity of smartphones, and the rise of on-demand entertainment have been key drivers of this growth. According to MRFR, the global revenue from video streaming is expected to reach $972.31 billion in 2030
The Leading Players
The video streaming market is dominated by a few key players, with Netflix, Amazon Prime, and Disney+ leading the pack. Netflix has been the market leader for many years, with over 208 million subscribers worldwide. Amazon Prime Video is the second-largest player in the market, with over 150 million subscribers. Disney+, which was launched in November 2019, has already amassed over 116 million subscribers.
Other notable players in the market include Hulu, HBO Max, Apple TV+, and YouTube TV. The competition in the market is fierce, with each player vying for a larger share of the pie.
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Market Trends
One of the most significant trends in the video streaming market is the shift towards original content. The leading players in the market have been investing heavily in producing original movies and TV shows to differentiate themselves from their competitors. This trend is expected to continue in the future, with Netflix planning to spend $17 billion on content in 2021.
Another trend in the market is the increasing popularity of live sports streaming. In the past, live sports events were only available on traditional TV channels. However, with the rise of video streaming, more and more people are watching sports events online. This has led to a rise in the number of streaming services that offer live sports events, such as ESPN+, FuboTV, and DAZN.
Future Outlook
The video streaming market is expected to continue growing at a rapid pace in the coming years. The increasing availability of high-speed internet, the rise of 5G networks, and the growing adoption of smart TVs are expected to be key drivers of this growth. According to Grand View Research, the global video streaming market is expected to reach $972.31 billion by 2030, growing at a CAGR of 18.1% from 2022 to 2030.
Segmentation
By type, it is divided into on-demand video streaming and live video streaming. The on-demand video streaming segment can gain traction in the video streaming industry owing to major sports events or new releases being made popular on select platforms. The ability to gain the interest of viewers can drive the segment growth during the forecast period. On the other hand, the live video streaming segment is expected to carve a major share of the video streaming industry due to being able to broadcast important announcements and events. The outbreak of the COVID-19 virus has led to news channels using this medium to deliver news to the devices of the people.
By deployment, it is divided into cloud and on-premise.
By platform, it is segmented into laptops desktops, smartphones, smart TVs, and gaming consoles.
By component, it is segmented into software solutions (video analytics solution, video management solution, and video security solution) and services (professional services and managed services).
By model, it is segmented into transactional video on demand, subscription video on demand, advertisement supported video on demand, and hybrid.
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Regional Analysis
The video streaming market, by region, has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America accounted for the largest market value of USD 12,329.3 million in 2018. It is expected to register a CAGR of 21.2% during the forecast period. It has witnessed significant adoption of video streaming in recent years. The presence of key market players such as Netflix Inc., Apple Inc., Hulu, IBM Corporation, Amazon Web Services, and Microsoft Corporation in the U.S. has driven the growth of the video streaming industry in the region.
Europe was the second-largest market in 2018, valued at USD 10,827.0 million and projected to exhibit a CAGR of 20.3% during the forecast period. However, the market in APAC is expected to register the highest CAGR of 23.1% over the assessment period. This can be attributed to the access of smart devices and access to high-speed internet. Offers on streaming multichannel services with fixed mobile packages made in conjunction with mobile service providers can contribute to the growth of the market in the region.
Competitive Outlook
Microsoft Corporation, Amazon Web Services, Adobe Inc., Apple Inc., Google LLC, Cisco Systems Inc., IBM Corporation, Akamai Technologies Inc., Walt Disney Company (Hulu), and Netflix, Inc. are key players of the global video streaming market.
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