Video Streaming Market Size, Share & Trends Report

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, 2021 - 2028

  • Published Date: Feb, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-2-68038-629-5
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 200

Report Overview

The global video streaming market size was valued at USD 50.11 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 21.0% from 2021 to 2028. Innovations, such as blockchain technology and artificial intelligence, to improve video quality are expected to boost the market growth. AI is playing an essential role in editing, cinematography, voice-overs, scriptwriting, and several other aspects of video production and upload. Various video streaming solution providers use 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. Moreover, the rapid adoption of mobile phones owing to the growing popularity of social media platforms and other digital mediums for branding and marketing is anticipated to further fuel the growth.

Asia Pacific video streaming market size, by streaming type, 2017 - 2028 (USD Billion)

The growing adoption of cloud-based solutions to increase the reach of video content is influencing the market growth positively. This trend is majorly observed in the countries of North America and Europe. Furthermore, 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 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 service, including cloud wrapper, direct connect, cloud interconnects, VPN and DNS proxy detection, and token authentication. Also, the high adoption of digital media across various industry verticals has led to the population’s inclination towards different streaming solutions and services. For instance, in November 2019, Apple Inc. has entered the online video cascading industry by launching its TV+ service. In June 2019, Wowza Media Systems, LLC, announced the complete range of professional services for video-related solutions providers. For another instance, 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 technical advancements and growing number of service providers in this domain pose a threat to the standalone streaming giants in the 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 has launched its new streaming service called AT&T TV to get people to watch television online. For another example, in April 2018, Amazon.com, Inc., and Google partnered to bring official YouTube apps on Amazon’s Fire TV. These complementary services for television and other entertainment content are anticipated to threaten the existing key players in the market.

In the education and academic sector, videos can be effectively used to enhance the learning process, such as visual recordings of webinars and courses, among others. Visual recordings have a powerful impact on the ability of students to retain information. Therefore, nowadays, universities, schools, and colleges are creating multimedia content and delivering it in the form of video presentations, thus, making use of technology to impart knowledge effectively. Several factors such as increasing consumption and easy access to such content, increasing demand for mobile devices, and the increasing availability of the internet are positively influencing the adoption of these services for educational purposes.

COVID - 19 Impact Insights

The COVID-19 (Coronavirus Disease) pandemic has placed more than 1/4th of the world’s population under lockdown. As millions of individuals stay locked into their homes, opt for online streaming and entertainment services. The video streaming services have experienced a rise of around 10% in viewership during the lockdown. The viewership of video streaming services has drastically risen across the globe, several video streaming platforms, including Netflix, Amazon Prime Video, YouTube, Disney+ have registered a spike in the viewership worldwide. For instance, in March 2020, Netflix registered an increase of more than 50 percent in the number of first-time installations of its mobile application in Italy and more than 30 percent of that in Spain.

Individuals across the globe are using various live streaming platforms to get recent updates on the status of COVID-19, stay entertained, play games, and socialize. The rise in the consumption of digital content from various sources, including mobile apps, TV streaming, gaming, has been observed in China and Italy during the outbreak. Thus, different live streaming platforms, including Twitch, YouTube Live, Facebook Live, amongst others, have gained increasing popularity in the outbreak. For instance, in March 2020, the viewership of Twitch increased by 31% as more individuals connected with the live streaming platform.

Streaming Type Insights

The live streaming segment accounted for the largest revenue share in 2020, with around 61% market share. This is attributed to the surging demand for digital media devices coupled with faster internet helping consumers to access media content remotely. Furthermore, several other factors enrich the live streaming of videos, such as ad-free content, mobile viewing, analytics tracking, abundant content use, immense audience potential, and high-quality streams.

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

Solution Insights

The OTT-based segment accounted for the largest revenue share in 2020, with over 41% of the market share. It is owing to a feature that OTT based solutions deliver film and TV content through the internet without the need for users to subscribe to traditional cable or pay-TV services. Further, the segment is expected to witness a noticeable growth over the forecast period owing to the growing demand for improved automation of business processes and the full availability of broadband infrastructure. Emerging trends in OTT, such as hybrid monetization models, rising demand for digital original content, and content fragmentation due to intensive competition, are expected to contribute to the growth of OTT streaming solutions.

In 2020, the pay-TV segment held a notable revenue share as its demand has grown in countries such as China, India, Mexico, and Brazil. Moreover, customers are shifting their preference to OTT services due to the increased programming expenses. The increasing availability of unlimited wireless data plans and public wi-fi has boosted the growth of OTT service providers. For instance, HBO Now is the online streaming platform launched by Home Box Office, Inc., which has enabled an online view of HBO shows without a cable subscription.

Platform Insights

Smartphones and tablets accounted for the largest revenue share in 2020, with a 31% market share. This is attributed to the easy accessibility of the internet, increasing disposable income, better standard of living, and changing lifestyle. The smart TV segment is also expected to register healthy growth over the forecast period. Since smart TV offers a comprehensive option of TV channels along with video streaming services, such as Netflix, a noticeable growth is expected to be driven.

Mobile/tablet streaming allows trouble-free live streaming, owing to the abundance of reliable internet services. Due 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 for television has drawn attention towards the smart TV segment, such as YouTube TV, Hulu, DirectTV Now, PlayStation Vue, and Sling TV, among others. Also, applications for organizing the TV’s content, such as PLEX, are anticipated to boost the growth of this segment as they provide the ability to play any compatible media content on the smart TV.

Service Insights

The training and support accounted for the largest revenue share of over 35% in 2020. Further, the managed services are estimated to have a significant market share, representing around 31% of the total market in 2020. Managed services help combine broadcast and OTT solutions into one online video management solution to provide a personalized experience to viewers. This advantage is projected to bode well for segment growth. Further, based on services, the market has been segmented as consulting services, managed services, and training and support services.

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

Revenue Model Insights

The subscription model accounted for the largest revenue share of the video streaming market in 2020, with a 43% market share. This is attributable to an increase in the number of video streaming subscriptions across the globe. Also, 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. Further, based on the revenue model, the market has been segmented into advertising, rental, and subscription.

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 ads on the on-demand streaming platforms owing to the marketing requirements, the advertising segment has collected a significant amount of share in the market. However, subscription models have gained momentum due to the wide variety of video content as well as original content offered by the OTT providers, such as Netflix Originals and Prime Originals, among others.

Deployment Type Insights

The cloud segment accounted for the largest revenue share in 2020, with more than 57% of the market share. The advancements in cloud computing have revolutionized video streaming and enabled the creation of platforms for streaming purposes such as YouTube and Netflix. The cloud-based segment in the Asia Pacific is expected to grow at the highest CAGR in the coming years. In 2019, the division acquired the largest market share in North America, attributed to the growth of cloud-based services in countries such as the U.S. and Canada. Further, based on the deployment type, the market has been segmented into the cloud and on-premises.

Video streaming platforms have adopted the cloud-based deployment to enable large bandwidth and speed. Since the cloud-based deployment is capable of handling more substantial data content along with providing a better viewing experience, several streaming services providers have chosen this segment over on-premises. Also, 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 streaming of videos.

User Insights

The consumer segment accounted for the largest revenue share in 2020, with a 51% market share. This is attributable 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 in watching videos remotely. Increasing mobile subscriptions and the adoption of connected devices, especially smartphones, are expected to contribute to the segment growth.

Global video streaming market share, by user, 2020 (%)

The enterprise segment is expected to grow at a compounded annual growth rate of 21.5% 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 superior video codec, web-based real-time communication, captioning, indexing, and transcoding and aggregation are expected to spur the demand for video streaming for enterprise users. Besides, 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 around 39% in 2020, with a 39% share, majorly due to the rapid growth of cloud-based streaming services. Meanwhile, the European region also held a notable market share. It is expected to witness steady growth owing to the large population watching online content. On the other hand, Asia Pacific is projected to demonstrate growth at the highest CAGR over the forecast period, attributed to the increasing use of mobiles and tablets, rapid technological advancements, and popularity of online streaming.

Over-the-top (OTT) solution has transformed the way of content consumption among viewers in the Asia Pacific region. Incumbent telecommunication providers and multichannel operators in this region have also proactively pursued business innovation and advancement using video streaming for advanced marketing techniques. With the fastest growing broadband internet population, operators in Southeast Asia have expanded the monetization opportunities by offering video streaming multichannel services along with fixed-mobile packages. These initiatives taken by the service providers are contributing to the growth in the Asia Pacific region.

Key Companies & Market Share Insights

The key players that dominated the global market in 2020 include Amazon Web Services, Inc.; Apple Inc.; Netflix, Inc.; International Business Machine Corporation (IBM Cloud Video); Hulu, LLC; amongst others. Vendors in the market are focusing on increasing the customer base to gain a competitive edge in the market.

Therefore, vendors are taking several strategic initiatives, such as collaborations, acquisitions and mergers, and partnerships. For instance, in July 2019, Hive Streaming, a Sweden-based enterprise video distribution company, partnered with the U.S. based software company, Kaltura, Inc., to provide joint customers with premium video delivery capabilities. Under this partnership, the data visualization solutions of Hive Streaming are joined with the broad network optimization offering of Kaltura, Inc., including Kaltura eCDN along with additional network optimization and video delivery solutions. This collaboration has enabled high-quality live and non-linear video content. Some prominent players in the 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

Video Streaming Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 59.14 billion

Revenue forecast in 2028

USD 223.98 billion

Growth Rate

CAGR of 21.0% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segment Scope

Streaming type, solution, platform, service, revenue model, deployment type, user, region

Region scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; Japan; India; Brazil

Key companies profiled

Akamai Technologies; Amazon Web Services, Inc.; Apple Inc.; Cisco Systems, Inc.; Google; Kaltura, Inc.; Netflix, Inc.; International Business Machine Corporation (IBM Cloud Video); Wowza Media Systems, LLC; Hulu, LLC.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report provides forecasts for revenue growth at the global, regional, and country levels and analyses of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global video streaming market report based on streaming type, solution, platform, service, revenue model, deployment type, user, and region:

  • Streaming Type Outlook (Revenue, USD Billion, 2017 - 2028)
    • Live Video Streaming

    • Non-Linear Video Streaming

  • Solution Outlook (Revenue, USD Billion, 2017 - 2028)

    • Internet Protocol TV

    • Over-the-Top (OTT)

    • Pay-TV

  • Platform Outlook (Revenue, USD Billion, 2017 - 2028)

    • Gaming Consoles

    • Laptops & Desktops

    • Smartphones & Tablets

    • Smart TV

  • Service Outlook (Revenue, USD Billion, 2017 - 2028)

    • Consulting

    • Managed Services

    • Training & Support

  • Revenue Model Outlook (Revenue, USD Billion, 2017 - 2028)

    • Advertising

    • Rental

    • Subscription

  • Deployment Type Outlook (Revenue, USD Billion, 2017 - 2028)

    • Cloud

    • On-Premises

  • User Outlook (Revenue, USD Billion, 2017 - 2028)

    • 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 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

    • Middle East and Africa (MEA)

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