Video Streaming Market size is estimated to reach USD 750 Billion by the end of 2033, growing at a CAGR of 25% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of video streaming was over USD 70 Billion. The primary growth factor for the market is the rising users of streaming videos. A latest data published on 2021 stated that in 2020 there were over 3 billion internet users who watched streaming or downloaded through any device at least per month. This figure is further projected to rise to 4 billion by 2023.
High adoption of digital media across various industries has prompted the population to incline more towards different streaming services. Further, rising number of creators and artists who wish to showcase their talent is expected to prompt the expansion of video streaming market in the near future. As per calculations, there are almost 35,000 movie and video production employees in the U.S. in 2022.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
25% |
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Base Year Market Size (2022) |
USD 70 Billion |
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Forecast Year Market Size (2033) |
USD 750 Billion |
Platform (Gaming Consoles, Laptops & Desktops, Smartphones, Smart TV)
The video streaming market is segmented and analyzed for demand and supply by platform into gaming consoles, laptops & desktops, smartphones, smart TV, and others. Out of these, the smartphones segment is anticipated to garner the highest market share by 2033, owing to high demand of smartphones by the burgeoning population. A latest reports suggest that in 2021, smartphone vendors sold around 1.5 billion smartphones across the world, a considerable increment from the previous year with 1.3 billion smartphones sold.
Our in-depth analysis of the global video streaming market includes the following segments:
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By Type |
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By Delivery Channel |
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By Revenue Model |
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By Platform |
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By End Users |
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Regionally, the global video streaming market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033. The primary factor for the growth of market in the region is the high consumption of video content by the population. In 2020, it was calculated that the United States adults spend almost 200 minutes i.e. 3 hours and 30 minutes per day watching TV content and 100 minutes i.e. 1 hour and 40 minutes per day watching digital videos on devices. Further, the high adoption rate of smartphone is expected to propel the population to consume more video content which is further expected to expand the video streaming market size. As per 2022 statistics, there are almost 300 million people with a smartphone in the United States, which is expected to grow and stand at 360 million people in 2040.
Author Credits: Abhishek Verma, Hetal Singh
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