Market Overview
The size of the worldwide video streaming market was estimated at USD 59.14 billion for 2021, and this is projected to increase at a CAGR of 21.3 percent from 2022 to 2030. Video quality is improved by using innovations like blockchain technology as well as artificial intelligence (AI). Editing, cinematography, voice-overs, scriptwriting, and many other facets of video creation and upload are all greatly aided by AI.
It is projected that these advancements will have a favorable impact on the market’s expansion. The content quality of videos is being improved by several suppliers of video streaming solutions employing AI. Recently, these channels have become much more popular than mainstream media outlets like YouTube and Netflix. To provide its subscribers with a greater, tailored experience, Netflix introduced AI in May 2016.
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Due to reasons like growing customer preference for video-on-demand services over conventional means, over-the-top (OTT) platforms, plus Internet Protocol Television (IPTV), the international demand for video streaming is predicted to have impressive growth in the upcoming years.
Digital media’s widespread adoption has increased consumer preference for various streaming services and raised the average revenue per user (ARPU). Because more consumers are using streaming media, OTT content, and streaming apps, the number of top video streaming services and software suppliers has grown over time.
Market Segmentation
By Components
- Services
- Solution
By Type
- Video Hosting Management – Non–Linear Video Streaming
- Live Streaming – Linear Video Streaming
- Video Content – Non–Linear Video Streaming
- Mobile Video
- Video Analytics – Non–Linear Video Streaming
By Distribution Channel
- Academic and education
- Commercial video platforms
- Video sharing
- Government
- Advertising
- Health care
- Media
- Retail and e-commerce
- IT and telecommunication
Regional Classification
As is well known, Asia Pacific has a sizable population. As a result, the region has gained significantly the largest proportion of the market. North America, which is currently in second place, is attempting to raise its market worth by utilizing live streaming alternatives as well as gaming and entertainment features. The market expansion value of the other regions is anticipated to rise in the coming years.
Industry News
The market is expanding since cloud-based solutions are being adopted by more people. North America and Europe are where this trend is most prevalently seen. An increasing number of users have high standards for performance, video quality, and security, and it is anticipated that ongoing innovations and technical improvements will satisfy those standards. For example, at the 2019 NAB Show in April, Akamai Technologies highlighted its advancements in providing high-quality digital experiences (U.S.). The company demonstrated its improvements in life as well as in media services, including direct, connect, cloud interconnects, and wrappers for the cloud.
The population is more inclined to use a variety of streaming services as a result of the growing acceptance of digital media across numerous industries.
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Smartphones used to view different TV series, live sports, movies, and events have considerably expanded, as the need for live and on-demand video content. Rising OTT platform and service numbers, expanded business applications, augmented OTT content, increased streaming live on social media platforms, as well as an increase in music streaming are patterns that the market would see in 2022 and beyond.
During this time, there were also a growing amount of new market entrants and suppliers of premium video streaming services with adaptable pricing structures.
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