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Report ID: SQMIG50J2004
Report ID:
SQMIG50J2004 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|
Tables:
142 |
Figures:
78
Global Video Streaming Market size was valued at USD 97.09 billion in 2022 and is poised to grow from USD 102.30 billion in 2023 to USD 174.97 billion by 2031, at a CAGR of 8.13% during the forecast period (2024-2031).
The growing market for over-the-top or OTT platforms where end users can access exclusive video content without relying on cable or satellite subscription services is anticipated to have a positive impact on this market. The same appears to be expected for OTT platforms, as the audiences who tend to subscribe are those who want flexibility in content choice and are able to shift to consuming more content than imagined earlier; this is expected to propel future market growth. The over-the-top services or the OTT video streaming market has seen consistent growth in the recent past and has changed the way people entertain and consume data. Streaming allows users to watch videos in real-time over the internet without the need for physical media such as DVDs or Blu-ray discs through internet connected electronics such as computers, tablets, Smart TVs, and smart phones, for purposes such as; Movies, live events, television shows or any other content in form of video. The convenience and widespread mobility brought on by high speed of the Internet has been a critical factor driving the streaming video marketplaces where consumers can easily stream videos on smartphones, PCs, smart TVs or tablets. Furthermore, as most people have embraced the use of the internet, especially in developed countries, more people are able to stream videos, which fosters market advancement. However, video streaming platforms face challenges such as piracy and unauthorized copying of content which are some of the issues that may hinder the revenues and slow down the market growth.
US Video Streaming Market is poised to grow at a sustainable CAGR for the next forcast year.
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REQUEST FREE CUSTOMIZATIONVideo Streaming Market size was valued at USD 97.09 Billion in 2022 and is poised to grow from USD 102.30 Billion in 2023 to USD 174.97 Billion by 2031, at a CAGR of 8.13% during the forecast period (2024-2031).
The Video Streaming Market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. The market is driven by the Rise of Live Streaming in the Video Streaming Industry and technological innovations in the industry. The presence of the key players and various growth strategies adopted by them are among the prime factors that catalyze the Video Streaming market growth during the forecast period. Some of the prominent players operating in the Video Streaming market include Netflix, Hulu, Livestream, YouTube, Amazon Prime, and HBO among others. Companies are aiming at new product launches, innovations, expansions, mergers, and acquisitions, and finding a new market or innovating their core competency to expand individual market share. 'Netflix, Inc.', 'Amazon.com, Inc. (Amazon Prime Video)', 'Google LLC (YouTube TV)', 'Hulu, LLC', 'Apple Inc. (Apple TV+)', 'Disney+ (The Walt Disney Company)', 'HBO Max (WarnerMedia)', 'Peacock (NBCUniversal)', 'Sling TV (DISH Network)', 'FuboTV, Inc.', 'Philo (Philo, Inc.)', 'ESPN+ (The Walt Disney Company)', 'CBS All Access (ViacomCBS Inc.)', 'YouTube (Google LLC)', 'Twitch (Amazon.com, Inc.)', 'Vimeo, LLC', 'Crunchyroll (Sony Corporation)', 'Crave (Bell Media)', 'Hotstar (The Walt Disney Company)', 'iQiyi, Inc.'
Live streaming has emerged as a pivotal driver in elevating the market value of the video streaming industry. This feature facilitates direct communication with target audiences, enabling seamless interaction on business-related matters and enhancing comprehension of inquiries. Its ability to generate increased income has solidified its position as a leading revenue source within the industry, resulting in a notable surge in live video streaming activity.
Increasing accessibility of high-speed internet connections: The surge in video streaming is primarily attributed to the expansion of broadband internet penetration. With substantial growth in broadband infrastructure, internet connectivity has become more widespread, reaching a larger population across various households and regions. This expansion has facilitated access to stable and high-speed internet connections, thereby broadening the potential audience for video streaming services. Consequently, streaming platforms have experienced an increase in their customer base, as more individuals gain access to reliable internet, driving further growth in the video streaming market.
The Asia Pacific region is poised for considerable growth with the highest projected Compound Annual Growth Rate (CAGR), driven by factors such as the increasing use of mobile devices and tablets, rapid technological advancements, and the popularity of online streaming. The adoption of Over-the-Top (OTT) solutions has revolutionized content consumption in Asia Pacific, with established telecommunications companies and multichannel operators leading the charge in business innovation and marketing strategies centered around video streaming. Particularly in Southeast Asia, operators are capitalizing on the region's rapidly expanding broadband internet population by offering video streaming multichannel services alongside fixed-mobile packages, thus contributing to the overall expansion of the Asia Pacific Video Streaming market.
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Report ID: SQMIG50J2004