Video Streaming Market Size to grow by USD 532.5 billion between 2024-2028
According to a research report “ Video Streaming Market” by Type (Live, Non-linear) Deployment (Cloud, On-premises) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 532.5 billion, at a CAGR of 26.07% during the forecast period. In the evolving broadcasting landscape, encoders have emerged as essential components to ensure high-quality media delivery. Encoders function as combinational logic circuits, converting input signals into optimally coded outputs, enabling support for various formats, including audio, video, and image data. The surge in Over-The-Top (OTT) content consumption has significantly increased the demand for encoders in video streaming applications. By utilizing advanced encoding technologies, broadcasters can deliver superior video quality to their subscribers, thereby enhancing the overall viewer experience..
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By Type, the Live segment is projected to dominate the market size in 2024
The live video streaming segment emerged as the leading segment in the global video streaming market in 2020, driven by a substantial fan base for live sports and entertainment events. The COVID-19 pandemic in 2020 and 2021 resulted in the imposition of restrictions on public gatherings, leading to the closure of businesses, schools, colleges, and universities. Consequently, the majority of the population was confined to their homes, resulting in a significant increase in the demand for online entertainment, education, and work platforms. Live video streaming became the go-to solution for many, fueling the growth of this segment in the video streaming market.
By Deployment, Cloud segment is expected to hold the largest market size for the year 2024
In the video streaming market, cloud deployment type held an approximate share of 65.8% in 2022. The advent of streaming platforms such as YouTube and Netflix is attributable to the advancements in cloud computing, revolutionizing the video streaming industry. To cater to the demands of increased speed and vast bandwidth, video streaming services have adopted cloud-based deployment. This deployment model enables handling massive data volumes and enhances the user experience. Furthermore, cloud scaling facilitates resolving latency and buffering issues, making it an attractive choice for businesses unable to manage the substantial traffic associated with Internet streaming.
North America is forecasted to hold the largest market size by region in 2024
The North American video streaming market held a dominant position in 2020, accounting for 40.12% of the global market share, primarily due to the widespread adoption of cloud-based services in countries like the US and Canada. This trend can be attributed to the rapid growth of streaming services that operate on the cloud, catering to the increasing demand for online content consumption in the region. With a high average disposable income, North Americans have a greater capacity to spend on premium streaming services, contributing significantly to the market's substantial size. The region's steady growth is anticipated to continue during the forecast period.
The Video Streaming Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The video streaming market is experiencing exponential growth, with cloud-based solutions becoming the norm for digital channels to reach audiences on social media platforms and mobile phones. AI technology and machine learning pipelines are revolutionizing content creation, from scriptwriting and voice-overs to cinematography and editing. Netflix and YouTube lead the way in mainstream media outlets, but traditional cable and satellite TV are also adapting with OTT (Over-the-Top) streaming services. Music & entertainment, Fitness & lifestyle, Auction and bidding, Enterprise and corporate, Gaming, Sports/esports, Healthcare, Education/e-learning, and various other industries are leveraging video streaming to engage their audiences. Blockchain technology is also making strides in this space, offering secure, decentralized platforms for content distribution. AI technology is being used to personalize content recommendations, while machine learning algorithms analyze viewer behavior to optimize ad placements. The future of video streaming is bright, with endless possibilities for innovation and growth.
Market Research Overview
The video streaming market is a dynamic and innovative space, catering to both the consumer and enterprise segments with unique offerings. Consumers enjoy on-demand access to multimedia content on digital media devices like smart TVs, mobile phones, and computers. The market includes various deployment types, such as cloud segment, managed services segment, and subscription segment, with standalone streaming giants like Netflix and YouTube leading the charge. Enterprises leverage video streaming for training & support, webinars, and video presentations. The cloud segment, with CDN tools and live and on-demand streaming, is a popular choice. The advertising segment generates revenue through targeted ads on digital channels and social media platforms. Innovation in video streaming continues with live content, quicker internet, non-linear streaming, and virtual reality (VR) and 360-degree video streaming. The television space is evolving, with pay-TV segment merging with OTT segment. The education sector, including colleges, universities, and schools, uses video streaming for courses and webinars. The NAB Show showcases the latest trends, with Akamai Technologies providing cloud-based solutions. AI technology and machine learning pipelines enhance user insights and personalized recommendations. The market includes various segments like Music & entertainment, Fitness & lifestyle, Auction and bidding, Enterprise and corporate, Gaming, Sports/esports, Healthcare, and Education/e-learning. Blockchain technology and voice-overs are emerging trends. The future of video streaming is exciting, with mainstream media outlets and OTT platforms continuing to push boundaries.
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