Video Streaming Industry Growth, Development and Growth Report, 2030

The projected revenue of the global video streaming market is around USD 130.1 billion for 2023, with an anticipated increase to US$ 508.8 billion by 2030. This growth is forecasted to occur at a compound annual growth rate (CAGR) of 21.6% between 2024 and 2030.

This growth of the industry can be credited to the growing usage of AI and blockchain tech to upgrade video excellence. AI is now playing a vital role in editing, cinematography, voice-overs, scriptwriting, and several other aspects of video production and upload.

In 2023, on the basis of type, the linear bifurcation category had the larger share of 60%. This is mainly because of the growing usage of digital media devices and the fact that this model provides simple and quick access to online content.

Additionally, the usage of a huge quantity of content, the benefits of analytics monitoring and mobile viewing, and a huge audience drive the category. Linear video streaming is basically scheduled programming, also called traditional or live TV, where the content is played at a stated time, with no control over playbacks.

In 2023, the solutions bifurcation produced advanced revenue, on the basis of the offering segment, of approximately USD 98 billion. This can be ascribed to the growing need for over-the-top (OTT) content, internet protocol TV, and pay-TV services.

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Additional important aspects that contribute to the popularity of OTT platforms include exclusive content, varied monetization strategies, and content diversification, all stemming from intense competition among industry contenders. Moreover, the prevalence of unlimited data packages and widespread access to public Wi-Fi networks incentivizes more businesses to embrace the OTT framework.

In 2023, the smartphones and tablets segment commanded the largest portion of revenue at 45%, attributed to factors such as widespread internet accessibility, rising disposable incomes, and evolving lifestyles.

These devices facilitate seamless live streaming due to the consistent internet connectivity prevalent in urban regions. Moreover, smartphones and tablets are favored for online streaming due to their portability, ease of use, offline viewing capabilities, and their ubiquity among billions of individuals globally. Additionally, smartphones serve as a secondary screen for seeking supplementary information related to content while watching television.

On a global scale, North America emerged as the leading market, capturing approximately 50% of the revenue share in 2023, driven by the rapid expansion of cloud-based streaming services. Within North America, the United States claimed the majority of the market share in 2023, a trend anticipated to persist until 2030.

Hence, this growth of the industry can be credited to the growing usage of AI and blockchain tech to upgrade video excellence.

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