Disruptive technology applications in artificial intelligence (AI), and big data analytics are triggering adoption of video streaming among consumers. The global video streaming market will grow at an astounding 17% CAGR during the projection period i.e. 2019 – 2029. The market will further receive impetus in the near term with unprecedented viewership amid coronavirus outbreak.
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Expanding cloud infrastructure facilitates seamless streaming of high definition video content. Market players are prioritizing capture of streaming share by creating original content. The competition in the video streaming market is driven by quality and variety of video content.
Key Takeaways of Video Streaming Market study
- On the back of strong cloud network and internet connectivity such as 5G, North America leads global sales with over 20% of the total market value share.
- Middle East & Africa offer the most noteworthy revenue opportunities with a double digit 19% CAGR between 2019 and 2029. Surging penetration of digital services and smart devices in Middle East & African countries drives growth in this region.
- Consumer end-use segment accounts for the highest demand for video streaming services. The segment holds more than 53% of the total market value share with a stupendous 18% CAGR through 2029. Live streaming of sports events, and mobile battle arena games act as a central factor for growth.
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- Non-Linear streaming type presents profitable opportunities with over 18% CAGR during the projection period. Investments from video streaming platforms in producing original content impel the demand for video streaming services.
- Subscription based revenue model emerges as the leader in revenue generation with more than 51% of the total market revenue share. Features such as multiple screens, profiles, and parental control are giving traction to this revenue model.
- Convenient availability of film and TV content over smartphones and tablets is driving the Over-the-top (OTT) delivery channel to exhibit a stellar 19% CAGR from 2019 to 2029.
Global Video streaming Market: In-Depth Assessment on Key Segments
The global video streaming market is segmented on the basis of streaming type, delivery channel, platform, service, revenue model, end use and region.
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Technical Expertise and Infrastructure Capability to Bolster Growth
Convenience of uninterrupted cross-streaming between multiple devices is a major driver for video streaming platforms. Successful advertising generates considerable revenue for market players. A majority of consumers cite viewer profiles as a major benefit of video streaming services. Separate viewer profiles in platforms such as HooQ, Netflix help users track their favourite shows, films. They employ user viewing behaviour and conduct consumer sentiment analysis to find relevant suggestions. On one hand, consumers get a unique viewing experience with convenience factors such as the last scene and taste specific content suggestions. On the other, video streaming platforms continuously engage and delight consumers by efficiently providing suggestions for remunerative streaming.
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