Global Video Streaming Market Highlights Over 2023 - 2033
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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 |
The global video streaming market is estimated to garner a revenue of ~USD 750 billion by the end of 2033 by growing at a CAGR of ~25% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 70 billion in the year 2022. The primary growth factor for the video streaming 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.
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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.
Market Definition
With the help of emerging technological advancements, video streaming has penetrated in our lives. It is a technology that allows a user to view online video content over the internet without needing to download the media files. Video streaming refers specifically online video content, such as movies, TV shows, live broadcasts, and general online videos by content creators. Video streaming has the benefit of low consumption of device storage as the user does not have to download the media files to consume the content. This way the time spent in loading or buffering the video is eliminated, and ensures a good viewing experience for users.
Global Video Streaming Market: Growth Drivers and Challenges
Growth Drivers
- Increased Internet Users Across Worldwide – The ongoing innovations and technological advancements are expected to increase the adoption rate of internet users. The seamless internet is expected to increase the number of internet users and meet the expectations for exceptional video quality, performance, and security. A recent studies suggest that as of 2022, 69% of the world’s population actively use internet, which is equivalent to approx. 5 billion people. Further, this number is projected to increase to almost 8 billion users by 2030.
- Adoption of Smart Devices - In 2022, the number of smartphone users in the world today is 7 billion, which translates to 84% of the world’s population owning a smartphone.
- Penetration of IoT (Internet of Things) Devices – The latest reports shows that the number of Internet of Things (IoT) devices across the world is forecasted to almost tripled 10 billion in 2020 to 30 billion in 2030.
- Increased Preference of Streamed Video – A latest data revealed that in 2021, online videos had an audience reach of 90% among all the internet users worldwide.
- Rising Digitization – Lately, it was calculated that almost 60% of global Gross Domestic Product (GDP) is anticipated to be digitized by 2022. Also, till 2018 companies all over the world has invested more than 1 trillion on digital transformation efforts.
Challenges
- Rising Problems with Privacy and Security
- Increased Issues with Copy Rights
- Absence of Seamless Internet Throughout the World
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.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, block chain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Video Streaming Market Regional Synopsis
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 video streaming 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.
The global video streaming market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
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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Top Featured Companies Dominating the Global Video Streaming Market
- Amazon.com, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- NETFLIX
- Akamai Technologies, Inc.
- Apple Inc.
- AT&T Inc.
- Kaltura, Inc.
- The Walt Disney Company
- Brightcove Inc.
- Tencent Holdings Limited
- IBM Corporation
