Top 10 Companies Driving the Video Streaming Industry Growth in 2022-2029

The past few years have recorded an escalating demand for video streaming services across various regions. Several government bodies have formulated a range of regulations that are estimated to drive the industry expansion. As per a report by Fortune Business Insights, the global market size for video streaming was USD 372.07 billion in 2021. The market is estimated to grow from USD 473.39 billion in 2022 to USD 1,690 billion by 2029, exhibiting a CAGR of 19.9% over the forecast period.

Some of the key factors favoring market expansion comprise growing internet connectivity and the soaring adoption of online social media platforms. However, the launch of regulations in Europe is expected to affect service providers in the region. Under one such recent regulation, the European Commission wants telecom firms to give proof that streaming sites should pay for the added traffic sent over their networks. The Commission intends to ask about the escalation in traffic over the past three years.

Given below are some of major video streaming companies that are expected to fuel the global industry landscape in the coming years:

1. IBM Corporation

IBM provides cloud-based online video platforms for live and on-demand content to audiences. The service supports both ease-of-use and complex setups. The solution is deployed for commercial, academic or public service virtual conferences, commercial promotion, and government proceedings. In January 2022, the company hit the headlines for the rollout of IBM video streaming mobile application. Available on Play Store and the App Store, the app is equipped to boost communication at workplaces.

2. Alphabet, Inc.

Alphabet, Inc. provides Google TV video-on-demand service via the Chromecast streaming media platform. The service offers mostly subscription-based and ad-based video on-demand videos for TV series and movies. The company offers YouTube TV, YouTube Premium, and YouTube Music Platforms for video sharing in various geographical regions. In January 2022, Google LLC rolled out an operating system powered Chromecast Google TV streaming device. The system comprised Google TV with Chromecast software available on Android OS.

3. Amazon.com, Inc.

The company offers AWS video streaming services to its users over an extensive range of devices via Amazon CloudFront. The firm gives access to an array of entertainment platforms. In September 2021, Amazon.com, Inc. rolled out prime video channels. The service gives access to a range of on-demand video channels. These include Manorama Max, Shorts TV, Hoichoi, Docubay, Eros Now, Lionsgate Play, Discovery+, and MUBI.

4. Netflix, Inc.

Netflix Inc. provides a range of documentaries, TV series, and movies from numerous languages and genres over its streaming platform. The company provides video streaming content on internet-connected devices such as TV set-top boxes, mobile devices, TVs, and digital video players.

In December 2021, Netflix, Inc. rolled out a website dubbed ‘Tudum’ for announcing release dates and renewals of series. The website offers behind-the-scenes videos, news, live interviews, and more for its viewers.

5. Hulu LLC (The Walt Disney Company)

Hulu LLC provides over 60 live and on-demand TV channels such as entertainment, live sports, news, and more. The company provides a range of streaming video service channels such as Hulu+Live TV, Hulu (no ads), +Live TV, and Hulu (ad-supported). In July 2021, the company added NFL Network, a live sports channel, to its platform. The channel aimed at the elevation of subscriber base to watch teams and athletes. The company strives to offer subscribers with more choice, flexibility, and an extensive range of sports content on their TV channels. It is among the top video streaming companies around the globe.

6. Brightcove, Inc.

Brightcove Live solution provides viewers with high-quality experiences at scale. The volume provides Zencoder customers and Video Cloud Express customers pay-as-you-go and month-to-month contracts. The platform comprises enterprise video suite and video marketing suite customers. In February 2022, Brightcove Inc. purchased audience insight company, Wicket Labs, for strengthening the visibility of users into content and subscriber analytics. The company’s intelligent video platform allowed clients to broadcast quality videos for viewing and measuring the effectiveness using viewer insight and real-time analytics.

7. Apple, Inc.

Apple, Inc. provides video-on-demand and video streaming services that can be accessed via Apple TV, Mac, Apple Watches, iPad, and iPhone. The company offers a range of streaming services from other television networks such as Showtime, HBO, Smithsonian channels, Starz, CBS, Epix, and others. In March 2022, Apple Inc. rolled out Studio Display and Mac Studio for providing digital experience to users with the studio. The solution was built with M1 Ultra, the most powerful chip, and the M1 Max for personal computing.

8. Roku, Inc.

Roku Channel platform comprises over 80,000 TV shows, original video content, and movies. The company provides over 50 subscription-based channels and over 200 live linear television channels. For instance, in February 2022, the company extended its advertising business in Mexico. This allowed brands and content providers to reach more customers via its ad-supported content TV streaming platform. For the deal, the company entered into a partnership with digital media and marketing company, Entravision, for offering operations in Mexico.  

9. Haivision, Inc.

Haivision, Inc. offers a range of streaming solutions such as Multi Campus Coaching, Multi Site Delivery, and more. It allows multi-site congregations into a unified platform. In July 2022, Haivision Inc. rolled out innovations in 5G video streaming, Internet Protocol (IP), and cloud services at the IBC2022 event.

10. Tencent Holdings Ltd

Tencent Holdings Ltd diversified a range of entertainment and social media offerings such as live streaming, literature, online games, and music. In August 2020, Tencent Holdings Ltd. struck a partnership with Huya, Inc. and DouYu International Holdings Ltd. for the creation of a USD 10 billion gaming streaming platform.

Way Forward

The coming years are expected to record a soaring demand for users of video on demand services. This is set to be impelled by the growing consumer spending on entertainment and media. These factors are poised to favor the market growth over the analysis period. However, increasing concerns associated with content piracy and protection are set to hamper industry expansion to a considerable extent.