The global video streaming market is expected to grow at a CAGR of 18.8% during the forecast period with its market size predicted to reach USD 687.2 billion by 2024. Globally, video streaming industry players are leveraging market growth through the development of innovative solutions in this system. The vendors of this system are providing various solutions to the users such as consumer interactive video platforms, augmented video applications, scalable video streaming and hosting, and using videos to improve workplace productivity.
Consumer segment held larger share in the video streaming market in 2018
On the basis of end user, the global video streaming market is divided into consumer and enterprise. Among the two categories, the consumer category held larger share in the market in 2018. This is attributed to the fact that increasing penetration of smartphones. According to a recent study, the global mobile phone subscriptions exceeded 2 billion in 2013 and it is expected to reach subscription of 8 billion by 2019. With an increase in demand of mobile devices there has been increasing number of cases witnessing mobile data traffic. According to a report published by Cellular Telecommunications Industry Association (CTIA) - The Wireless Association, the U.S. consumers that use wireless devices are using large amount of data with almost 75 percent faster data speed.
On the basis of revenue model, the global video streaming market is divided into subscription, rental, retail, and advertisement. Of all, the subscription model category held largest share in the market in 2018, owing to the significant increase in number of subscriptions registered by global large-scale video streaming content providers. For example, in 2018, Netflix had 139 million subscribers worldwide, along with Amazon having 101 million Amazon Prime Video subscribers in the U.S. alone.
On the basis of services, the global video streaming market is segmented into consulting, training and support, and managed services. Of all, the training and support services category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing benefits provided by this system in corporate training across the globe.
Streaming makes e-learning more interactive and engaging to use and further helps in making available data from interactive and engaging. Interactive content and engaging content thus makes the content of a particular video easily understandable and relatable thereby bolstering the growth of the video streaming market worldwide.
Asia-Pacific is expected to witness fastest growth in this market. Large social media companies like Twitter Inc. are capitalizing on the increasing popularity of this system. Twitter has signed deals with National Football League and National Basketball Association to attain large audience for their services. Facebook has also observed increasing revenue in this region, especially from Indian market as it has observed increasing popularity of this system feature among the citizens of this conutry. The company has developed deals with several celebrities and media and entertainment companies in the region to produce videos for Facebook Live. Moreover, this will further help in strengthening the Asia-Pacific market in the near future.
Geographically, North America has accounted for the largest share in video streaming market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards increasing adoption for streaming services by households in the U.S. that has significantly contributed towards revenue growth of service providers such as Netflix. The adoption of mobile devices by citizens of the U.S. is thus enhancing the continuous display of information, entertainment and media. For instance, it has been estimated that approximately 80% of the adults in this region view news on mobile devices that provides latest news feed on a continuous basis.
Some of the key players operating in the global video streaming market are Akamai Technologies, Adobe Systems Incorporated, Amazon Web Services, Netflix, Inc., Ustream, Cisco Systems, Inc., Apple, Inc., Google Inc., Microsoft Corporation, and Hulu.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global video streaming market on the basis of solution, platform type, deployment type, Type, end user, services, revenue model, and region.
Global Video Streaming Market Coverage
Solution Insight and Forecast 2014-2024
Platform Type Insight and Forecast 2014-2024
Deployment Type Insight and Forecast 2014-2024
Type Insight and Forecast 2014-2024
End-User Insight and Forecast 2014-2024
Services Insight and Forecast 2014-2024
Revenue Model Insight and Forecast 2014-2024
Video Streaming Market by Region
Rest of the World (RoW)