Video Streaming Market Size, Share, Trends, Industry Analysis & Forecast Report 2024-2032

Summary:

• The global video streaming market size reached USD 88.9 Billion in 2023.

• The market is expected to reach USD 388.8 Billion by 2032, exhibiting a growth rate (CAGR) of 17.3% during 2024-2032.

• North America leads the market, accounting for the largest video streaming market share.

• Solutions accounts for the majority of the market share in the component segment due to their crucial part in the entire streaming architecture.

• Live/linear video streaming holds the largest share of the video streaming industry.

• Subscription models remain a dominant segment in the market because of their simplicity and user-friendly approach; major streaming platforms prefer them because they provide predictable revenue and user engagement.

• Personal users represent the leading end-user segment.

• The increasing integration of smart technologies and devices in households, such as smart televisions (TVs) and voice-activated assistants, enhance the user experience and facilitate seamless access to streaming services.

• Besides this, the global expansion of streaming platforms, where rising disposable incomes and improving internet infrastructure are encouraging new subscriber growth and increasing demand for video content.

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Industry Trends and Drivers:

Increasing Adoption of High-Speed Internet and Mobile Connectivity:

The widespread availability of broadband internet, along with advancements in mobile network technologies such as fourth-generation (4G) and fifth-generation (5G), has made streaming content more accessible than ever. Consumers can now watch high-definition videos on various devices, including smartphones, tablets, and smart TVs, without buffering or interruptions.

This enhanced connectivity has led to a surge in the consumption of video content, as users can easily stream movies, TV shows, live events, and user-generated content at any time and from anywhere. The convenience of streaming services also caters to the growing demand for on-the-go entertainment, further bolstering the market's expansion.

The Rising Popularity of Original Content Produced by Streaming Platforms:

Major players such as Netflix, Amazon Prime Video, and Disney+ have heavily invested in creating exclusive, high-quality content that attracts subscribers and keeps them engaged. This trend towards original programming differentiates these platforms from traditional cable television and appeals to consumers seeking unique and diverse viewing options.

The success of original series and films has encouraged more streaming services to enter the market, fostering a competitive landscape that continually pushes innovation in content creation. As a result, subscribers are drawn to platforms offering compelling content libraries, strengthening the overall demand for video streaming services.

The Shift in Consumer Behavior Towards:

Another important factor impelling the market growth is the shift in consumer behavior towards cord-cutting, where viewers are abandoning traditional cable and satellite TV subscriptions in favor of more flexible and cost-effective streaming options. This trend is fueled by the growing dissatisfaction with traditional television packages, which often include channels that consumers do not watch.

Streaming services provide users with the freedom to choose specific content and pay only for what they watch, eliminating the need for long-term contracts and high monthly fees associated with cable subscriptions. Additionally, the proliferation of ad-supported streaming options has made it even easier for consumers to access content without incurring subscription costs thereby providing an impetus to the market growth.

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Video Streaming Market Report Segmentation:

Breakup By Component:

• Solution
• Services

Solutions account for the majority of shares due to their essential role in the overall streaming architecture.

Breakup By Streaming Type:

• Live/Linear Video Streaming
• Non-Linear Video Streaming

Live/linear video streaming represented the largest segment because it captures real-time events and broadcasts, appealing strongly to viewers' desire for immediate, unedited content, which significantly drives its prevalence in sports, news, and live entertainment.

Breakup By Revenue Model:

• Subscription
• Transactional
• Advertisement
• Hybrid

Subscription models account for the majority of shares as they offer predictable revenue and user engagement, making them preferred by major streaming platforms for their simplicity and consumer-friendly approach.

Breakup By End User:

• Personal
• Commercial

Personal users dominate the market due to the widespread consumer adoption of streaming services for entertainment.

Breakup By Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

North America leads due to its advanced telecommunications infrastructure, high penetration of internet and mobile devices, and the presence of major streaming companies driving innovation and content availability.

Top Video Streaming Market Leaders: The video streaming market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

• Akamai Technologies Inc.
• Amazon Inc.
• Brightcove Inc.
• Comcast Corporation
• Google LLC (Alphabet Inc)
• Hulu LLC (The Walt Disney Company)
• Iflix (Tencent Holdings Ltd.)
• International Business Machines Corporation
• Kaltura Inc.
• Microsoft Corporation
• Netflix Inc.

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