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, 2022-2029

The global video streaming market size was valued at USD 372.07 billion in 2021 and is projected to grow from USD 473.39 billion in 2022 to USD 1,690.35 billion by 2029, exhibiting a CAGR of 19.9% during the forecast period. Based on our analysis, the global market exhibited a higher growth of 5.7% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with video streaming experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The report includes various software and content delivery service providers offered by players such as Netflix Inc., Hulu LLC, IBM Corporation, Amazon.com Inc., and others. These companies are offering various streaming type channels and platforms such as HBO Max, Amazon Prime Video, Crackle, Paramount Plus, Disney Plus, Acorn TV and others.

Increasing adoption of online social media platform and rising internet connectivity resulted in the growth of the global market. For instance, in May, 2021, Meta (Facebook Inc.), a social media platform, had more than 2.40 billion users. Also, social media platforms such as WhatsApp and YouTube have over 1.00 billion users each. 

In addition to this, increasing video data traffic around the globe owing to a surge in demand for better resolutions based videos have propelled the market growth. Also, players in the market are developing advanced platforms in order to meet the growing demands across the education sector. For instance,

• In March, 2022, Y2k Solutions Inc. launched an advanced Beta 1.0 video streaming platform for educational video courses. The platform offers free streaming solutions & services, video hosting, cloud hosting, and web hosting.

COVID-19 IMPACT

Growing Adoption of Live Streaming Platforms across Education and Healthcare Sectors to Aid Market Growth

The influence of COVID-19 pandemic is expected to result in a considerably positively impacted the global market size during the analysis period. This is attributed to the substantial acceleration in the adoption of online live streaming supported by favorable regulations and decline in in-person visits to physicians. The global market observed a humongous growth rate of 5.7% in 2020 as compared to 9.8% in 2019. In terms of revenue, the market witnessed an increase in revenue to USD 297.40 billion in 2020.

Further, the COVID-19 pandemic has accelerated digital transformation globally. The increasing adoption of online learning, Work from Home (WFH) and remote patient monitoring in health services, e-commerce, and others has increased the demand for services.

As per Verizon Report in 2020, the streaming traffic increased by 26% during the COVID-19 pandemic around the globe. Also, the usage of live streaming platforms has increased to stay entertained on social media platforms during the lockdown.

Further, the players in the market are developing advanced services in order to expand their presence. Also, key players are adopting several strategies such as mergers, acquisitions, and other, to increase their consumer base. For instance,

• In July 2021: The Carlyle Group acquired Liveu, a live streaming company, for around USD 400 million. This strengthens the video transmission and streaming service.

LATEST TRENDS

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Rising Adoption of Low Latency Streaming Protocol Videos is Driving Growth

Rising adoption of low latency streaming videos and surging live streaming adoption by the consumers through social media platforms aid the market growth. Also, leading players in the market are developing advanced low latency live streaming video platforms. This primarily owing to rising popularity among the users aids the demand for global video streaming market growth. For instance,

• In January, 2022: THEO Technologies Inc., a video technology company, introduced a live streaming low latency platform hesp.live. It is the HTTP-based low latency real-time video streaming platform that disrupts the industry’s standard of multiple seconds and provides the fastest live streaming solution. THEO Technologies uses High Efficiency Streaming Protocol (HESP) for live video interactivity at large scale for various industries, including betting, gaming, auctioning, sports, and live events. 

The platform helps mobile users with low latency streaming for real time broadcasting of streaming events such as online courses, sports games, game streaming and e-commerce platforms.

DRIVING FACTORS

Increasing Demand for Video on Demand (VoD) Streaming Services Aids Market Growth

Rising number of video on demand services users around the globe owing to surging consumer spending on media and entertainment aids the market growth. According to the Motion Picture Association Report in 2020, online VoD users jumped to around 1.10 billion during the COVID-19 pandemic and is expected to reach 2.00 billion users by 2023.

Further, in 2020, the combined online video subscriptions of the streaming service providers such as Netflix Inc. and Disney+ increased by 26% reaching around 230 million new subscriptions compared to 2019. Such an increase in subscribers of the OTT platforms has created a massive demand for market growth. Further, as per the Deloitte Report in 2020, there were around 2.5 subscriptions based video on demand streaming services per household in the United States Such, rising the number of subscribers for the video on demand services around the globe aids the market growth.

RESTRAINING FACTORS

Rising Concern Related to Content Piracy and Protection is Expected to Hinder the Market Growth

Rising concerns among users related to content piracy and protection are expected to hinder corporate operations, reducing consumers' viewing content and other. This is projected to impact market growth in the following years. For instance,

• According to a joint Digital Citizens Alliance-NAGRA study in August 2020, pirate subscription services are worth billions of dollars in the U.S. alone. Pirate subscription IPTV service is being used by around 9 million internet users’ subscribers in the U.S. The users are obtaining these services through at least 3,500 unauthorized websites and social media pages.

SEGMENTATION

By Component Analysis

Rising Development of Advanced Streaming Software to Boost Market Growth

The scope includes software and content delivery services based on component. Under the software, transcoding and processing, video delivery and distribution, video management, and others are included. In addition, software is growing at a moderate pace owing to the surge in development of advanced streaming platforms by the leading players. For instance,

• In September, 2021: Amazon.com, Inc. introduced aggregating video and live streaming software, which consists of eight local and global streaming services in India.

Further, the content delivery services segment is expected to hold the largest market share during the forecast period. The rising adoption of content delivery OTT platforms among the consumers and increasing consumer spending on entertainment aid the market growth. According to the Motion Picture Association in 2020, the number of OTT platform content delivery services users reached 1.10 billion and is projected to reach 2.20 billion subscribers. Further, the content delivery services scope includes live broadcasting, VOD & complementary content, and low latency streaming services.

By Channel Analysis

Rising Number of OTT Users to Fuel Market Growth

In the scope, satellite TV, cable TV, IPTV (internet protocol television), and OTT streaming are considered under channel. Among these, cable TV is expected to hold the largest share in 2021, owing to the surge in adoption by households around the globe.

OTT streaming is expected to grow with the highest CAGR during the forecast period owing to surge in OTT platform adoption in developing countries such as India, Brazil, and others. According to the BCG Report in 2021, India has around 70 to 80 million paid users of the OTT platforms. Such increase in OTT users is expected to drive the OTT streaming market globally.

By Vertical Analysis

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Rising Number of Esport/Sports Audiences to Boost Market Growth

On the basis of vertical, the scope includes market share by education/e-learning, healthcare, government, sports/esports, gaming, enterprise and corporate, auction and bidding, fitness & lifestyle, music & entertainment, others (transportation). Among these, sports/esports held the largest share in 2021 owing to surge in adoption of online esports platform users. According to the Frontiers Organization Report in 2019, the global esports players reached 454 million and are expected to reach 557 million by 2023.

Healthcare is expected to grow with significant CAGR owing to surge in the live streaming platform for online consulting of patients during the pandemic. According to Forbes, in June 2020, approximately 48% of the U.S. adults subscribed to at least one online streaming service.

REGIONAL INSIGHTS

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Geographically, the market is fragmented into five prime regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa. They are further classified into countries.

North America is predicted to dominate the market share during the video streaming market forecast period owing to the presence of leading players such as Netflix, Inc., Alphabet Inc., Amazon.com, Inc., Microsoft Corporation, and others. Further, increasing number of users for video on demand and video gaming platforms across the U.S. and Canada aids the market growth. According to the Entertainment Software Association in 2020, there were around 214 million video game players in the U.S. Among this, 75% of all households have at least one person who plays video games.  

Asia Pacific is expected to grow with the remarkable CAGR for the global video streaming market share during the forecast period. The market is growing with a significant growth rate, owing to rising adoption of the several video streaming solutions such as video on demand and OTT platforms among the consumers. Also, leading players in Asia Pacific such as Disney+ Hotstar, Tencent Holdings Ltd., and others are developing streaming software and expanding their services. For instance,

• In July 2020: Tencent Holdings Ltd introduced a video streaming service in Thailand to increase its presence outside China. The company expanded its WeTV and Tencent's music and streaming service JOOX and its mobile PUBG game across Thailand.

Furthermore, Europe is growing moderately owing to rising demand for online live streaming videos, and surge in the adoption of on-demand videos among the consumers. Several players, such as Netflix Inc., Hulu LLC, and Disney Plus, in European countries are increasing the adoption of OTT subscribers. For instance, in 2020, Netflix Inc. reported more than 66.7 million subscribers across Europe, the Middle East, and African countries.

The Middle East and Africa market is expected to exhibit significant growth and a CAGR during the forecast period. The UAE, GCC, South Africa, and others are gaining popularity to use the online streaming platforms. According to the International Telecommunication Union (ITU) Report in 2020, 4 in 10 nationals from the Middle East and African countries stream videos online.

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South America is growing at a moderate pace owing to rising adoption and penetration of the mobile internet in Argentina, Brazil, and others. According to the World Bank Organization Report, approximately 73.9% internet penetration in Brazil leads to a surge in video streaming spending.

KEY INDUSTRY PLAYERS

Key Players are Focused on Strengthening their Market Position with Continuous Developments

The key players in the market are investing in technological advancement platforms for streaming services owing to increase in the adoption of streaming platforms. Also, the prominent players such as Akamai technologies, The Walt Disney, Netflix, Inc., Wowza Media Systems Llc, and others are adopting various business strategies, such as mergers, acquisitions, and others, to expand the market presence.

• In Jan 2022, the Walt Disney Company's streaming service, Disney+, announced that it will launch in 42 countries and 11 additional territories this summer, including the Faroe Islands. South Africa, Turkey, Poland, and the UAE are among the new countries. This expansion allows members to watch Pixar, Marvel, Star Wars, Disney, National Geographic, and other Star content.

LIST OF KEY COMPANIES PROFILED:

• 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)

KEY INDUSTRY DEVELOPMENTS:

• In January 2022- IBM Corporation launched an advanced IBM streaming mobile application that globally enhances the workplace’s communications. The mobile application is made available on the app store and play store. IBM’s video streaming application allows users to broadcast and live stream videos. IBM’s streaming enterprise-ready broadcasting tool offers businesses enriched security and impeccable features.


• In September, 2021- Roku introduced a 4K streaming stick that offers faster user experience and access through Wi-Fi. The advanced streaming device named Roku Streaming Stick 4K, made available in two different versions. The two models feature HDMI port, TV support, and Dolby Vision.

REPORT COVERAGE

An Infographic Representation of Video Streaming Market

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The research report highlights leading regions worldwide to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry, market research, competitive landscape, and market growth, trends and analyzes technologies deployed at a rapid pace at the global level. It further highlights some of the growth driving factors and restraints, helping the reader gain in-depth knowledge about the market.

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