Video Streaming Market Size, Share & Trends Analysis Report By Streaming Type, By Solution, By Platform, By Service, By Revenue Model, By Deployment Type, By User, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global video streaming market size was valued at USD 89.03 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.5% from 2023 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. Many video streaming service providers use AI to enhance video content quality. These channels have recently become much more popular than mainstream media outlets like YouTube and Netflix. In May 2016, AI technology was implemented by Netflix to create a superior personalized experience for its subscribed consumers. This AI-empowered system automatically accomplished several machine learning pipelines, which offered shows/movies/program recommendations. Moreover, the market expansion is predicted to be fueled by the quick uptake of mobile phones due to the rising popularity of social media platforms and other digital channels for branding and marketing. 

The growing adoption of cloud-based solutions to increase the reach of video content is positively influencing market growth. Majorly this trend is witnessed in the countries of Europe and North America. The ongoing innovations and technological advancements are expected to meet users’ expectations for exceptional video quality, performance, and security. For instance, in April 2019, Akamai Technologies spotlighted its initiatives and 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, cloud interconnects, VPN & DNS proxy detection, and token authentication.

The rising adoption of digital media across various industries has resulted in the population’s inclination toward multiple streaming solutions and services. For instance, in November 2019, Apple Inc. entered the online video cascading industry by launching its TV+ service. In June 2019, a variety of expert services for video-related solutions providers was announced to launch by Wowza Media Systems, LLC. Furthermore, in April 2022, Google, the subsidiary of Alphabet Inc., unveiled CDN tools for streaming media. 

The increase in technological advancements and the various service providers in the industry pose a threat to the standalone streaming giants in the video streaming market. The streaming television space seems to be the fastest-growing sector for TV service providers to grab revenue share from existing key players such as Netflix. 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 threat the 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, schools, universities 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, various video streaming platforms, such as YouTube, Amazon Prime Video, Netflix, and Disney+ registered a spike in the viewership worldwide. For instance, in March 2020, 50% increase was registered by Netflix in the number of new installations of its mobile application in Italy and more than 30% of that in Spain.

Streaming Type Insights

The live streaming segment accounted for the largest revenue share in 2022, with around 62.06% market share. The increased demand for digital media devices and the accessibility of quicker internet to view media content remotely are associated with the market growth. Other elements that enhance live video streaming include the utilization of a lot of content, ad-free content, mobile viewing, analytics tracking, and a huge potential audience.

Live content such as sports and musical events have preserved the high importance of live video streaming. However, non-linear streaming is expected to demonstrate significant growth over the coming years owing to the convenience and series linking. Several other factors that fuel the growth of the non-linear streaming segment in the industry include watch-time feasibility, no buffering, large capacity, and live pause. Moreover, video-on-demand is expected to become mainstream in all age-group populations with both the streaming types.

Solution Insights

The OTT segment accounted for the largest revenue share in 2022, with over 42.92% of the market share. This is owing to the factor that OTT-based solutions offer film and TV content through internet without users’ subscription to traditional cable or pay-TV services. The segment is expected to witness a noticeable growth over the forecast period owing to the growing demand for enhanced automation of business practices and the full availability of broadband infrastructure. OTT’s emerging features such as hybrid monetization models, digital original content, and content fragmentation due to intensive competition are expected to propel the growth of OTT streaming solutions.  

In 2021, the pay-TV segment accounted for a notable revenue due to a significant rise in demand for pay-TV services in countries such as China, India, Mexico, and Brazil. Moreover, customers are shifting their preference to OTT services owing to the increased programming expenses in pay-TV or IPTV services. The growing availability of unlimited wireless data plans and public Wi-Fi has also increased the number of OTT service providers. For instance, Home Box Office, Inc. launched HBO Now, an online streaming platform, which enabled an online view of HBO shows without a cable subscription.

Platform Insights

The smartphones and tablets segment accounted for the largest revenue share in 2022, with over 31.28% market share. The growth of this segment is attributed to the factors such as easy accessibility of the internet, increasing disposable income, better standard of living, and changing lifestyles. Moreover, the smart TV segment is expected to register significant growth over the forecast period as smart TV offers a comprehensive option of TV channels along with video streaming services such as Netflix. 

Smartphones/tablet streaming allows trouble-free live streaming owing to the abundance of reliable internet services. Owing to ease in remote access and portability, smartphones and tablets are more likely to be preferred for online content watching. However, the availability of several video streaming applications, such as Hulu, PlayStation Vue, DirectTV Now, YouTube TV and Sling TV has drawn the attention toward the smart TV segment. Moreover, applications such as PLEX to organize TV content are anticipated to propel the growth of this segment as they provide the ability to play any compatible media content on smart TV.

Service Insights

The training & support segment accounted for the largest revenue share in 2022, with nearly 38% market share. Further, the managed services segment is estimated to have a significant market share, representing around 31% of the total market in 2021. Managed services help combine broadcast and OTT solutions in one online video management solution to provide a personalized experience to viewers. This advantage is anticipated to propel the growth of the segment.

Video managed services deliver highly evolved media services to the viewers, helping them achieve a better content quality with higher monetization. These services include localization & access services, digital packaging and fulfillment, creative video services, and compliance & metadata services, among others. Moreover, managed services combine intelligent content distribution capabilities for third-party and direct OTT streaming service providers. As managed services helps manage and monetize a comprehensive OTT platform and streaming-related service, managed services are anticipated to grow at a significant rate over the forecast period. 

Revenue Model Insights

The subscription segment accounted for the largest revenue share in 2022, with more than 44.5% market share. The growth of the segment is attributed to the increasing number of video streaming subscriptions worldwide. Moreover, the subscription model offers streaming of online videos with an access fee or a subscription. For instance, Netflix offers various monthly subscription plans or programs.

The advertising segment-based solution operates on the hosting of advertisements. Advertising is one of the common forms of monetizing streaming videos where the revenues are generated from the advertisers. Since advertisers pay a massive amount for streaming their advertisements on the on-demand streaming platforms owing to the marketing requirements, the advertising segment accounts for a significant share of the market. However, subscription models have gained momentum owing to a wide variety of video content as well as original content offered by the OTT providers such as Netflix Originals and Prime Originals. 

Deployment Type Insights

The cloud segment accounted for the largest revenue share in 2022, with more than 59% of the market share. The cloud computing developments have transformed video streaming and enabled the creation of platforms such as YouTube and Netflix for streaming purposes. The cloud segment in Asia Pacific is expected to register the highest CAGR in the coming years. In 2020, the segment acquired the largest market share in North America and attributed to the growth of cloud-based services in countries such as the U.S. and Canada.

Video streaming platforms have adopted cloud-based deployment to enable large bandwidth and enhanced speed. The capability of cloud-based deployment to handle more substantial data content along with providing a better viewing experience has promoted several streaming services providers to choose cloud-based deployment over on-premises. Moreover, cloud scaling helps in increasing the bandwidth and dealing with buffering and latency issues. Since most enterprises don’t have the networks and infrastructure capable of handling heavy traffic in online streaming, there is a huge demand for cloud-based deployment in the video streaming process.  

User Insights

The consumer segment accounted for the largest revenue share in 2022, with nearly 50.86% market share. This is attributed to the rise in the viewership of video on demand and live streaming services from the media and entertainment sector. The consumer segment is anticipated to grow owing to the convenience offered by watching videos remotely. Emerging adoption of connected devices, especially smartphones, and mobile subscriptions are expected to contribute to the growth of the segment.

The enterprise segment is expected to expand at a CAGR of 22.1% over the forecast period. This growth is attributed to the increasing use of video streaming services by enterprises for training and consulting. Technological advancements such as captioning, superior video codec, indexing, web-based real-time transcoding, aggregation and, communication are expected to spur the demand for video streaming for enterprise users. Moreover, the technology improves the communication efficiency in an organization through measures such as on-demand video and flexibility in remote working conditions.

Regional Insights

North America accounted for the largest revenue share of the video streaming market in 2022, with a 31.9% share. This was majorly owing to the rapid growth of cloud-based streaming services. The European region is expected to witness a steady growth owing to the large population watching online content. Moreover, Asia Pacific is projected to demonstrate significant growth at the highest CAGR over the forecast period owing to the rapid technological advancements, increasing use of mobiles and tablets, and the popularity of online streaming.

Over-the-Top (OTT) solution has transformed the way of content consumption among viewers in the Asia Pacific region. The regions established telecommunications companies and multichannel operatives have keenly pursued business innovation and advancement employing cutting-edge marketing strategies like video streaming. Asia have expanded the monetization opportunities by offering video streaming multichannel services along with fixed-mobile packages, with the fastest growing broadband internet population, operators in Southeast. These initiatives taken by the service providers are contributing to the growth in Asia Pacific. 

Key Companies & Market Share Insights

The key players such as Amazon Web Services, Inc.; Apple Inc.; and Netflix, Inc. dominated the global market in 2021. Vendors in the market are focusing on increasing the customer base to gain a competitive edge in the market. Vendors are focused on strategic initiatives such as collaborations, mergers & acquisitions, and partnerships. For instance, in July 2019, Hive Streaming, a Swedish enterprise video distribution business, and Kaltura, Inc., a U.S. software business, have teamed up to offer premium video delivery services to each other's customers. Under this partnership, Hive Streaming's data visualization services are combined with Kaltura, Inc.'s extensive network optimization offerings, such as Kaltura eCDN, as well as other network optimization and video delivery services. This collaboration enabled high-quality live and non-linear video content. Some of the 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

Recent Developments

• In February 2023, CDNetworks, unveiled its support for HTTP/3 and QUIC, a network protocol developed by Google. This significant advancement is a major stride in the company's efforts to enhance web application performance like live streaming capabilities  and optimize network transmissions, empowering CDNetworks' clients to deliver unparalleled digital experiences to their end customers.

• In April 2023, Akamai Technologies showcased cutting-edge cloud computing capabilities for streaming video at the 2023 NAB Show. These capabilities are designed to empower OTT operators in delivering exceptional, personalized video experiences to viewers while ensuring more predictable operational costs, improved content monetization efforts, and bolstered support for the Common Media Client Data (CMCD) specification through their Qualified Computing Partner program.

• In April 2023, Wowza, joined forces with AMD to pioneer an innovative, high-density, and environmentally conscious live video streaming option. Through their collaboration, the two companies are actively contributing to the ongoing initiative to alleviate server strain and foster eco-friendly streaming practices by significantly boosting the number of video streams processed per server. Moreover, this cost-effective approach enhances the accessibility of sustainable streaming solutions, benefitting businesses seeking to adopt more environmentally friendly practices.

• In June 2023, Apple unveiled exciting software updates, including an all-new Control Center, offering a seamlessly personalized experience that harmonizes perfectly with iPhone devices. Moreover, Apple TV 4K integrates Apple TV+, popular streaming apps, Apple Music, Apple Fitness+, and Apple Arcade into a cinematic and high-fidelity audio-visual experience.

• In July 2023, Kaltura, unveiled significant upgrades to its Cloud TV and Streaming Platform, designed to cater to the unique requirements of TV operators and media customers. All the latest product enhancements within the Kaltura cloud TV and streaming platform are accessible across various devices, including Set-Top Boxes (STBs), smart TVs, Android and Apple TV, as well as mobile and web interfaces.

• In March 2022, Netflix introduced the "add extra member" feature, initially available in Chile, Costa Rica, and Peru. The company further plans to launch the "add a home" feature in Argentina, the Dominican Republic, El Salvador, Guatemala, and Honduras. The new feature enables one home per account, granting seamless Netflix access across various devices, even during travel. Additionally, users have the flexibility to purchase additional homes, exercise precise control over home settings, and effortlessly remove homes as needed, offering a customizable and optimized streaming experience.

• In November 2022, CDNetworks established strategic partnerships with multiple Asia-based OTT platforms. This collaboration enabled seamless live streaming and video-on-demand services for the World Cup 2022, effectively catering to the streaming needs of millions of CDNetworks' B2B clientele.

Video Streaming Market Report Scope

Global Video Streaming Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global video streamingmarket report based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:

• Streaming Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Live Video Streaming

  • Non-Linear Video Streaming

• Solution Outlook (Revenue, USD Billion, 2017 - 2030)

  • Internet Protocol TV

  • Over-the-Top (OTT)

  • Pay-TV

• Platform Outlook (Revenue, USD Billion, 2017 - 2030)

  • Gaming Consoles

  • Laptops & Desktops

  • Smartphones & Tablets

  • Smart TV

• Service Outlook (Revenue, USD Billion, 2017 - 2030)

  • Consulting

  • Managed Services

  • Training & Support

• Revenue Model Outlook (Revenue, USD Billion, 2017 - 2030)

  • Advertising

  • Rental

  • Subscription

• Deployment Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Cloud

  • On-Premises

• User Outlook (Revenue, USD Billion, 2017 - 2030)

  • Enterprise

    • Corporate Communications

    • Knowledge Sharing & Collaborations

    • Marketing & Client Engagement

    • Training & Development

  • Consumer

    • Real-Time Entertainment

    • Web Browsing & Advertising

    • Gaming

    • Social Networking

    • E-Learning

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • South America

    • Brazil

    • Mexico

  • Middle East and Africa (MEA)

    • Kingdom of Saudi Arabia

    • UAE

    • South Africa

The global video streaming market size was valued at USD 89.03 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.5% from 2023 to 2030