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Video Streaming Market to Record CAGR of 18.7% Over 2024-2032; Growing Use of Low Latency Streaming Services to Bolster Market Progress

June 24, 2024 | Information & Technology

The video streaming market size was valued at USD 555.89 billion in 2023 and is predicted to reach USD 674.25 billion in 2024. The market is anticipated to touch USD 2,660.88 billion by 2032, recording a CAGR of 18.7% over 2024-2032.


Fortune Business Insights™ presents this information in its latest report titled Video Streaming Market Size, Share & Industry Analysis, By Component (Software and Content Delivery Services), By Channel (Satellite TV, Cable TV, Internet Protocol Television (IPTV), and OTT Streaming), By Revenue Model (Subscription-based, Transactional-based, and Advertising-based), By Vertical (Education/E-learning, Healthcare, Government, Sports/eSports, Gaming, Enterprise and Corporate, Auction and Bidding, Fitness & Lifestyle, Music & Entertainment, and Others), and Regional Forecast, 2024-2032”.


Video streaming services help users gain access to a wide range of video content on a real time basis. The widespread penetration of the internet has played a crucial role in boosting the popularity of online streaming platforms. Many developing economies are also gaining access to these platforms, thanks to the easy availability of internet services. The growing demand for new video content among customers is one of the key factors driving the market’s expansion.


The COVID-19 pandemic had a favorable impact on the market growth as there was a considerable rise in the adoption of live streaming platforms. Moreover, governments across the world had imposed social distancing norms, which forced people to stay indoors. This factor played a key role in spurring the adoption of OTT platforms, thereby fostering the market’s progress.


Generative AI to Boost Market Growth Due to Increasing Demand for Immersive Customer Experience


Generative AI technology is expected to drive the video streaming market share as this technology is being increasingly used by market players to enhance their customers’ experience. Media giants, such as YouTube and Netflix are using Gen AI on a large scale to recommend various forms of content based on their viewers’ past viewing preferences. This will help them create a personalized experience for their users and improve their overall satisfaction after using their services.


Brightcove Launched New Video Streaming Solution to Facilitate Better Communication Between HR and Communication Professionals


Brightcove announced that it had launched a brand new video streaming solution, called Communications Studio. Communications Studio aims to improve the internal communication that takes place between the HR and other communication professionals. This will help them create build better relationships at their workplace.


Growing Use of Low Latency Streaming Services to Bolster Market Progress


The adoption of low latency streaming services is rising at a commendable pace due to the growing demand for lag-free video streaming solutions. Many prominent market players are creating innovative low latency live streaming services to improve their customers’ viewing experience. These factors will play a crucial role in accelerating the adoption of these platforms.


However, rising concerns regarding content piracy might impede the video streaming market growth.


Key Players to Enter Merger & Acquisition Agreements to Solidify Market Dominance


Some of the key players operating in this market are formulating a wide range of strategies to expand their business operations and increase their customer base. These strategies include mergers, acquisitions, launch of new products, and partnerships. Some of the key market participants include Netflix, Amazon.com Inc., IBM Corporation, and Apple Inc.


Notable Industry Development:



  • April 2024: Maybacks Global Entertainment announced that it had partnered with WiseDV, a provider of broadcast and streaming technologies, to introduce iDreamCTV. iDreamCTV is an innovative OTT platform that will offer a personalized streaming experience to users across the world.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/video-streaming-market-103057


List of the Companies Profiled in the Report:



  • IBM Corporation (U.S.)

  • Alphabet Inc., (U.S.)

  • Amazon.com, Inc. (U.S.)

  • Netflix, Inc., (U.S.)

  • Hulu LLC (The Walt Disney Company) (U.S.)

  • Brightcove, Inc. (U.S.)

  • Apple, Inc. (U.S.)

  • Roku, Inc. (U.S.)

  • Haivision, Inc. (U.S.)

  • Tencent Holdings Ltd. (China)


Further Report Findings



  • North America dominated the video streaming market share in 2023 due to the rising presence of reputed market players, such as Amazon.com Inc., Netflix, Alphabet Inc., IBM Corporation, and Microsoft Corporation. Moreover, the growing number of video-on-demand users and video gaming platforms will also fuel the regional market growth

  • The market in Europe is showcasing moderate growth due to the increasing need for online live streaming videos and rising acceptance of on-demand videos across the region.

  • Based on channel, the OTT streaming segment is anticipated to register the highest CAGR during the forecast period due to a notable rise in the adoption of OTT platforms in emerging countries, such as Brazil and India.


Table of Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Unit



Value (USD Billion)



Growth Rate



CAGR of 18.7% from 2024 to 2032



Segmentation



By Component



  • Software


    • Transcoding and Processing

    • Video Delivery and Distribution

    • Video management

    • Others


  • Content Delivery Services


    • Live Broadcasting

    • VoD & Complementary Content

    • Low Latency Video Streaming Services



By Channel



  • Satellite TV

  • Cable TV

  • IPTV (Internet Protocol Television)

  • OTT Streaming


By Revenue Model



  • Subscription-Based

  • Transactional-Based

  • Advertising-Based


By Vertical



  • Education/E-learning

  • Healthcare

  • Government

  • Sports/eSports

  • Gaming

  • Enterprise and Corporate

  • Auction and Bidding

  • Fitness & Lifestyle

  • Music & Entertainment

  • Others (Transportation)


By Region



  • North America (By Component, Channel, Revenue Model, Vertical, Country)


    • U.S. (By Vertical)

    • Canada (By Vertical)

    • Mexico (By Vertical)


  • Europe (By Component, Channel, Revenue Model, Vertical, Country)


    • U.K. (By Vertical)

    • Germany (By Vertical)

    • France (By Vertical)

    • Italy (By Vertical)

    • Spain (By Vertical)

    • Russia (By Vertical)

    • Benelux (By Vertical)

    • Nordics (By Vertical)

    • Rest of Europe


  • Asia Pacific (By Component, Channel, Revenue Model, Vertical, Country)


    • China (By Vertical)

    • Japan (By Vertical)

    • India (By Vertical)

    • South Korea (By Vertical)

    • ASEAN (By Vertical)

    • Oceania (By Vertical)

    • Rest of Asia Pacific


  • Middle East & Africa (By Component, Channel, Revenue Model, Vertical, Country)


    • Turkey (By Vertical)

    • Israel (By Vertical)

    • GCC (By Vertical)

    • South Africa (By Vertical)

    • North Africa (By Vertical)

    • Rest of the Middle East & Africa


  • South America (By Component, Channel, Revenue Model, Vertical, Country)


    • Brazil (By Vertical)

    • Argentina (By Vertical)

    • Rest of South America



Video Streaming Market
  • PDF
  • 2023
  • 2019-2022
  • 180

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