Description
Global Video Streaming Market was valued at $30.9 Billion in 2015 and is estimated to grow at a CAGR of over 16% from 2017 to 2024.
The global video streaming market is set to grow rapidly from USD 30.9 billion in 2015 to reach USD 123.2 billion in 2024. The video streaming services are majorly used for watching live events, television shows, music videos, educational content, for video calling and to meet various other requirements.
The high market growth is anticipated on account of rising number of online users, technological advancements, development of high-quality content and increase in subscriptions for various streaming channels. The consumers are increasingly using online streaming services for their entertainment, and education. The growing adoption of OTT (Over the Top) services and pay TV services is a major driver for the market growth over the next few years. The proliferation of smartphones, internet connectivity, and growing popularity of content providers such as Netflix are expected to reinforce the growth prospects positively.
Furthermore, the statistics published by CISCO Visual Networking Index (VNI) indicate the rapid growth in mobile data consumption across the globe. Some of the key data points include:
- The mobile data traffic increased from 2.1 exabytes per month in 2014 to 3.7 exabytes per month in 2015
- The number of new mobile devices and connections exceeded the half billion mark in 2015 (563 million)
- Furthermore, in 2015 the mobile video traffic accounted for nearly 55% of the total mobile traffic
In 2015, North America held the largest market share. The growing demand for Over the Top (OTT) solutions is a major factor driving the market growth. Further, the market based on the streaming platform was dominated by laptops and desktops. However, the scenario is rapidly changing due to the high growth of smartphones and tablets. The mobile devices segment is expected to emerge as the fastest growing segment over the forecast period.
The various content providers are also gaining awareness of the shift in the consumer preferences and therefore are increasingly developing content suitable for mobile platforms. A large portion of the traditional laptops and desktops segment is expected to shift towards the mobile category.
“Optimal Price Point (OPP) for Video Streaming Products”
Estimated average solution cost – $ xx globally. However, the average cost differs in each segment due to the different product, and technology specifications. Furthermore, with the growing solution implementation and increasing number of new entrants, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
“Notable industry participants include Akamai Technologies, Netflix Inc., Cisco Systems Inc, Apple Inc., Google Inc. and Amazon.”
Key players include Adobe Systems Incorporated, Akamai Technologies, Netflix, Inc.., Cisco Systems, Inc, Apple, Inc., Google Inc. Ustream and Amazon. The market participants rely on developing technology driven innovative solutions in order to reduce cost, increase productivity and attract new customers.
The content providers are also expected to focus on venture funding and mergers & acquisitions over the coming years owing to technology advancement and complex ecosystem. Major industry participants emphasize on seeking correlations across multiple disparate data sources and predicting customer behavior in order to achieve competitive advantage.
“Technology Outlook”
The video streaming market based on solution was categorized as Pay TV, Internet Protocol Television and OTT. Pay TV was conventionally the largest segment. However, with the rapid changes in technology, growing penetration of internet, expansion of 4G services, the OTT services are expected to emerge as the fastest growing category in the future. The use of OTT by marketing companies, customers, digital educational content providers, is a key driving force.
Video Streaming Market, by Streaming Type (Revenue, USD Billion)
- Live Video Streaming
- Non-Linear Video Streaming
Video Streaming Market, by Solution (Revenue, USD Billion)
- Pay TV
- Internet Protocol Television
- Over The Top (OTT)
Video Streaming Market, by Platform (Revenue, USD Billion)
- Smartphone & Tablets
- Laptops & Desktops
- Smart TVs
- Gaming Consoles
Video Streaming Market, by Deployment (Revenue, USD Billion)
- Cloud
- On-Premise
Video Streaming Market, by User Type (Revenue, USD Billion)
- Large Enterprises
- SMEs (Small Medium Enterprises)
Video Streaming Market, by Revenue Model (Revenue, USD Billion)
- Rental
- Subscription
- Retail
- Advertisement
Video Streaming Market, by Industry Vertical (Revenue, USD Billion)
- BFSI
- Media & Entertainment
- Education
- Retail
- IT & Telecom
- Others
Video Streaming Market, by Region (Revenue, USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
