Video Streaming Market Expansion 2024-2033: Growth Drivers and Dynamics

Video Streaming Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The video streaming market size has grown exponentially in recent years. It will grow from $575.72 billion in 2023 to $699.91 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%.  The growth in the historic period can be attributed to increased demand for encoders, rise in demand for on-demand streaming, increased demand for video streaming services in colleges, universities, high time spent online, increased usage of videos in corporate training.

The video streaming market size is expected to see exponential growth in the next few years. It will grow to $1,546.27 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%.  The growth in the forecast period can be attributed to rising consumer expenditure on media and entertainment, rising sales of mobile phones, increasing internet connections, increasing recognition of ott platforms, rise in live-streamed content. Major trends in the forecast period include advancement in video streaming technology, introduction of innovative platforms, implementation of blockchain in video streaming, advancement in AI, demand for video streaming software.

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Scope Of Video Streaming MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

 Video Streaming Market Overview

Market Drivers -The rising demand for media and entertainment is expected to propel the growth of the video streaming market going forward. Media and entertainment refers to a broad industry encompassing various forms of content creation, distribution, and consumption aimed at informing, entertaining, and engaging audiences. The demand for media and entertainment has been on a significant rise, driven by several key factors such as shift in consumer behavior, content diversity, social media influence, and innovative content delivery. Video streaming provides flexibility, convenience, and diverse content offerings within media and entertainment platforms, including broader audience reach, cost-effective distribution, valuable data insights, multiple revenue streams, and enhanced viewer engagement. For instance, in January 2024, according to Digital Entertainment and Retail Association ERA, a US-based organization, UK spending on music streaming subscriptions, vinyl records, and compact discs (CDs) grew by 9.6% in 2023 from 5% in 2022. Additionally, the UK entertainment market grew by 7% throughout 2023. Therefore, rising consumer expenditure on media and entertainment drives the video streaming market.

Market Trends – Major companies operating in the video streaming market are focused on developing innovative technologies, such as adaptive video optimization technology, to ensure a seamless and optimized streaming experience for users across various platforms and devices. Adaptive video optimization technology utilizes advanced algorithms to dynamically adjust video quality based on network conditions, device capabilities, and available bandwidth. This ensures optimal viewing experiences, maintaining high-quality video playback even in challenging network environments. For instance, in May 2024, Agora, a US-based company that offers video streaming services, launched Adaptive Video Optimization (AVO) along with support for the AV1 video codec. It employs a range of sophisticated machine-learning algorithms to tackle prevalent issues. It dynamically adjusts video quality, considering network conditions, device capabilities, and bandwidth availability. Further, it ensures top-notch video quality and optimal performance, even in fluctuating network environments.

 The video streaming market covered in this report is segmented –

1) By Component: Software, Content Delivery Services

2) By Type: Video On-Demand, Live Video Streaming

3) By Revenue Model: Subscription, Pay Per View, Premium Purchases, Advertisement-Based Revenue Model, Other Revenue Models

4) By End User: Residential, Commercial

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Regional Insights –
North America was the largest region in the video Streaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 Key Companies –
Major companies operating in the video streaming market are Amazon Prime Video, Netflix Inc., Paramount, Discovery Communications Inc., Hulu LLC, Disney, iQIYI Inc., Apple TV, Viaplay Group AB, DAZN Group, YouTube, Hotstar , Crunchyroll Inc., Tubi Inc., Kaltura Inc., Viki Inc., SonyLIV, Sling TV LLC, Funimation Productions Ltd., Pluto TV , Peacock , BritBox, Acorn TV , Voot, Shudder LLC

Table of Contents
1. Executive Summary2. Video Streaming Market Report Structure3. Video Streaming Market Trends And Strategies4. Video Streaming Market – Macro Economic Scenario5. Video Streaming Market Size And Growth…..27. Video Streaming Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis
30. Appendix

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