NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
online streaming services market size is estimated to grow by
USD 507 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 26.01% during the forecast period. Rising
penetration of smartphones and internet access is driving
market growth, with a trend towards integration of
advanced technologies with online streaming. However, concerns
pertaining to video piracy poses a challenge. Key market
players include Access Industries Inc., Alibaba Group Holding Ltd.,
Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu
Inc., Balaji Telefilms Ltd., Brightcove Inc., British Broadcasting
Corp., Eros International Media Ltd., Fox Corp., fuboTV Inc., Hulu
LLC, Netflix Inc., Philo Inc., Sling TV LLC, Spotify Technology SA,
Tencent Holdings Ltd., and The Walt
Disney Co..
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Revenue (Subscription,
Advertising, and Rental), Type (Online video streaming and Online
music streaming), and Geography (North America, APAC, Europe, South
America, and Middle East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Access Industries Inc.,
Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Apple
Inc., AT and T Inc., Baidu Inc., Balaji Telefilms Ltd., Brightcove
Inc., British Broadcasting Corp., Eros International Media Ltd.,
Fox Corp., fuboTV Inc., Hulu LLC, Netflix Inc., Philo Inc., Sling
TV LLC, Spotify Technology SA, Tencent Holdings Ltd., and The Walt
Disney Co.
|
Key Market Trends Fueling Growth
Artificial intelligence (AI) and deep learning technologies are
revolutionizing online streaming services by improving video
quality and identifying offensive content. AI aids various aspects
of video production, and its adoption is increasing due to the
popularity of platforms like Hulu and YouTube. Blockchain
technology, on the other hand, offers decentralization by enabling
artists to distribute content directly to consumers and enforce
license terms using smart contracts. The implementation of these
technologies is expected to positively impact the growth of the
online streaming services market.
The online streaming services market is experiencing significant
growth with various players offering a wide range of content. Costs
are a key consideration for consumers, with many opting for more
affordable options. The trend towards on-demand viewing continues,
with streaming services providing convenience and flexibility.
Technology plays a crucial role, with advancements in video quality
and user experience driving innovation. Devices are also a factor,
with streaming services available on a variety of platforms.
Overall, the market is competitive, with providers continually
striving to differentiate themselves through content offerings and
pricing strategies.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The proliferation of web video piracy and illegal streaming
through torrent sites poses a significant challenge to the growth
of the global online streaming services market. Torrents, which
contain metadata for downloading copyrighted audio and video
content, are increasingly popular due to their convenience and the
absence of advertisements. Despite the legality of using torrent
software, the majority of the content shared is illegal. This trend
is particularly prevalent in countries with lenient piracy laws.
The abundance of exclusive content across various streaming
platforms makes it difficult for users to subscribe to all of them.
As a result, many opt for torrents, hindering the expansion of the
online streaming services market.
- The Online Streaming Services market is experiencing
significant growth, with numerous players vying for market share.
One of the main challenges is the intense competition, as companies
strive to offer unique content and features to attract and retain
subscribers. Another challenge is the need to provide high-quality
streaming, as consumers demand seamless and uninterrupted viewing
experiences. Additionally, the market is constantly evolving, with
new technologies and business models emerging, requiring companies
to stay innovative and adapt to changing consumer preferences.
Furthermore, there are regulatory and legal challenges, such as
copyright issues and geo-restrictions, that must be navigated to
ensure compliance and expand reach. Overall, the Online Streaming
Services market presents both opportunities and challenges for
businesses looking to succeed in this dynamic industry.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This online streaming services market report extensively covers
market segmentation by
- Revenue
- 1.1 Subscription
- 1.2 Advertising
- 1.3 Rental
- Type
- 2.1 Online video streaming
- 2.2 Online music streaming
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Subscription- The Subscription Video-on-Demand
(SVOD) market is experiencing significant growth due to the
availability of original, high-quality content from platforms like
Netflix, Amazon Prime Video, Hulu, HBO, Disney+, and others. In
India, Hotstar leads the market,
with 36% of OTT users in Tier I cities and 55% in metros
subscribing. In the US, Disney+ reached 10 million subscribers, and
Netflix had 69.97 million. Functionalities beyond messaging are
offered, expanding the scope of OTT services. This trend is driving
the expansion of the global online streaming services market.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Online Streaming Services Market encompasses various
platforms that deliver video content over the internet for both
consumer and enterprise use. This market includes Video Streaming
Services and Cloud-based solutions, which enable on-demand access
to a vast library of movies, TV shows, and original content.
Paramount Plus and other similar services are popular choices for
consumers, while enterprise solutions cater to remote patient
monitoring, webinars, courses, and more. The market's growth is
driven by the widespread use of Mobile Phones, Smart TVs, and
high-speed Internet Connectivity, leading to increased Video Data
Traffic. Social media platforms have also played a significant role
in promoting online streaming, making it an integral part of our
daily lives. The market offers both cloud and on-premises
solutions, allowing businesses and individuals to choose the best
fit for their needs. Online Streaming has revolutionized industries
like education, entertainment, and healthcare, making content more
accessible and convenient than ever before.
Market Research Overview
The Online Streaming Services Market is a rapidly growing
industry that offers consumers a vast selection of video content,
available for instant viewing. This market encompasses various
types of streaming services, including subscription-based models,
ad-supported platforms, and transactional video on demand.
Consumers can access these services through various devices, such
as smartphones, tablets, computers, and smart TVs. The market is
driven by advancements in technology, increasing consumer demand
for on-demand content, and competition among providers. Streaming
services offer a wide range of programming, including movies, TV
shows, live sports, and original content. Additionally, they
provide features such as personalized recommendations, parental
controls, and the ability to download content for offline viewing.
Overall, the Online Streaming Services Market is transforming the
way we consume media, offering convenience, flexibility, and a vast
array of content choices.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Revenue
-
- Subscription
- Advertising
- Rental
- Type
-
- Online Video Streaming
- Online Music Streaming
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/online-streaming-services-market-size-is-set-to-grow-by-usd-507-billion-from-2024-2028-rising-penetration-of-smartphones-and-internet-access-to-boost-the-market-growth-technavio-302176403.html
SOURCE Technavio