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The global video streaming market size was valued at USD 455.45 billion in 2022. “Video Streaming Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Content Delivery Services), By Channel (Satellite TV, Cable TV, Internet Protocol Television (IPTV), and OTT Streaming), By Vertical (Education/E-learning, Healthcare, Government, Sports/eSports, Gaming, Enterprise and Corporate, Auction and Bidding, Fitness & Lifestyle, Music & Entertainment, and Others (Transportation)), and Regional Forecast, 2023-2030” observes that the market is projected to grow from USD 554.33 billion in 2023 to USD 1,902.68 billion by 2030, exhibiting a CAGR of 19.3% during the forecast period. Soaring number of video on demand service users worldwide owing to rising consumer spending on media and entertainment is attributed to market augmentation. As per the Motion Picture Association Report in 2021, online video subscriptions of streaming service providers such as Disney+ and Netflix Inc. grew by 14% reaching around 1.3 billion new subscriptions as compared to 2020. This stellar rise in OTT platform subscribers has further boosted market growth.
Amazon Prime Video Signs Exclusive Broadcast Agreement with the National Football League for 10 Years
In March 2021, Amazon Prime Video became the first streaming service to secure an exclusive NFL national broadcast package, beginning in 2023. Amazon Prime Video signed a 10-year agreement with the National Football League to exclusively broadcast 15 Thursday Night Football games during the regular season and one pre-season game each year in the U.S. This is the National Football League’s first exclusive national broadcast package with a digital streaming service. Under the deal, Prime Video will deliver new pre-game, half-time, and post-game shows with fan-favorite interactive features such as Next Gen Stats and X Ray, which will provide a more customizable viewing experience to users.
Rapid Digital Transformation and Favorable Government Regulations Aided Market Growth amid the Pandemic
Governments across the world were forced to take several measures to curb the rising number of cases worldwide. These measures included implementing stringent lockdowns, closing schools, colleges, and offices etc. These decisions caused a rapid digital transformation and boosted the adoption of online live streaming especially in the education and healthcare sectors. Students continued to study online while healthcare professionals were monitoring their patients remotely through video streaming remotely. These factors contributed to market proliferation during the pandemic.
Surging Demand for Low Latency Streaming Protocol Videos to Aid Market Proliferation
Growing popularity of low latency streaming videos and live streaming videos from social media platforms is driving the video streaming market growth. Moreover, leading companies in the market are focused on developing advanced low latency streaming video platforms, further contributing to market expansion. For instance, in January 2022, THEO Technologies Inc., a video technology company, launched a low latency live streaming platform named hesp.live. It is a HTTP-based low latency real-time video streaming platform.
One the other hand, concerns regarding piracy will hinder market proliferation over the forecast timeframe.
Advanced Software Launches by Leading Players to Propel Market Expansion
Industry leaders often make strategic moves such as innovative software launches, partnerships, mergers and acquisitions, and collaborations to earn higher profits. For instance, in February 2023, Brightcove launched a new video streaming solution, Communications Studio, to improve internal communication between HR and other communication professionals to build better relationships.
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Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
Value (USD Billion)
CAGR of 19.3% from 2023 to 2030
By Component, Channel, Vertical, and Region