MEDIA STREAMING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Media Streaming Market Size and Trends

Global media streaming market is estimated to be valued at USD 100.11 bn in 2024 and is expected to reach USD 176.32 bn by 2031, growing at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

Discover market dynamics shaping the industry: Request sample copy

Key factors such as rising internet penetration worldwide, increasing preference of consumers towards video streaming services over traditional TVs, availability of affordable smart devices and high-speed data services are expected to drive the demand for media streaming solutions. Younger demographic cohorts are highly technology-savvy and are adopting OTT media services at faster rates which is further complementing the market growth. Ongoing digital transformation of media consumption patterns and evolving consumer preferences towards on-demand and personalized content are likely to continue aiding the expansion of media streaming market for the forecast period. 

Discover high revenue pocket segments and roadmap to it: Request sample copy

Insights, By Component, Software Dominance Driven by Demand for Specialized Applications

By Component, Software contributes the highest share of 52.3% market share due to the growing demand for specialized applications across various end-use verticals. The proliferation of on-demand video content and need for high-quality streaming experiences have prompted media companies, broadcasters, and content providers to increasingly rely on sophisticated software solutions. A wide variety of applications such as encoding and transcoding, digital rights management, video analytics, and predictive capabilities are being developed and integrated to address the evolving requirements of media enterprises.

Insights, By Channel, Satellite TV leads driven by reach in less developed regions

By Channel, Satellite TV is expected to contribute 44.1% market share in 2024 primarily owing to its unparalleled reach across less developed and remote regions. While cable networks and terrestrial transmission struggle to extend coverage in hilly, forested and sparsely populated areas, satellite TV is able to deliver content uniformly right up to the last mile, regardless of terrain or infrastructure challenges on ground. This unmatched distribution ability has enabled satellite operators to proliferate even in underserved rural markets where cable and broadband penetration remains low.

Insights, By Vertical, E-learning Spearheads driven by Need for Interactive Content

By Vertical, E-learning contributes the highest share of 36.4% market share primarily driven by the growing need amongst educational institutions for enhanced, interactive video content. Traditional classroom-based training is supplemented with online courses, video lectures, and other immersive e-learning experiences. Media and ed-tech companies are collaborating to develop customized e-learning libraries with a variety of video formats such as educational documentaries, tutorials, instructor-led videos and interactive demonstrations. The flexibility and personalized pace of online learning has also encouraged educational institutions to integrate video-streamed curricula on their virtual portals.

Regional Insights

To learn more about this report, Request sample copy

Dominating Region: North America

North America is a dominant market with a projected market share of 46.1% in 2024. The growth can be attributed to factors such as high penetration of smart devices, widespread adoption of OTT platforms, and presence of key players. The region has seen exponential growth in subscription video on demand (SVOD) services over the years due to availability of high-speed internet and innovative content from major streaming platforms.

Fastest-growing Region: Asia Pacific

The Asia Pacific region is expected to exhibit the fastest growth of 38.2% market share in 2024. It is emerging as a significant market for media streaming services. Countries like India and China have a large population with increasing disposable income and internet usage. Local players are investing in original content to cater to the region's diversity in languages and cultures. Favorable government policies and trade relations within the region are also supporting the growth of media streaming platforms.

Media Streaming Market Outlook for Key Countries

Rapid Expansion Encourages Industry Developments

The U.S. market continues to evolve at a rapid pace with large investments in exclusive content and experiences from established brands. The media streaming landscape in the United States has undergone immense changes in recent years, driven largely by shifts in consumer behavior and technology innovations. As more Americans adopt broadband internet and streaming devices like smart TVs, there has been a significant move away from traditional pay TV subscriptions to on-demand streaming services. This has enabled new entrants to emerge and gain widespread popularity amongst viewers.

Online Demand for Content Streaming Services

China's market is driven by technological advancements and increasing consumption of online video among young, tech-savvy consumers. The media streaming landscape in China has seen significant changes in recent years that are reshaping the competitive dynamics. Younger consumers in China now have widespread access to streaming services on their smartphones and are demonstrating a strong preference for online and on-demand content over traditional linear television. This shift toward streaming online video on mobile devices has been accelerated by China's widespread 5G rollout, which has given consumers faster data speeds and cellular connectivity.

Easy Availability of Internet Services in India Boosts Growth of Streaming Industry

India represents a substantial opportunity with its large, internet-enabled population. Local and global players are launching affordable plans with regionally relevant content. The media streaming landscape in India has evolved significantly over the past few years, with more affordable data plans and smartphones enabling widespread adoption of OTT video platforms. The proliferation of streaming services catering to localized content in regional languages is driving significant growth.

Rise in Young Consumers Boosts Demand for Streaming Platforms

Japanese consumers demonstrate a strong appetite for anime and drama available through streaming. Global companies are partnering with domestic firms to expand their footprint in the country. As younger consumers get used to on-demand access on streaming platforms, their expectations are rubbing off on older demographics as well. Broadcasters and studios have taken note of this shifting landscape.

Huge Adoption of Streaming Services in Brazil

The Brazil media streaming market has seen huge growth in the last few years, driven primarily by increasing adoption of online video platforms among consumers. As internet penetration rises across both urban and rural areas of Brazil, more and more people are having access to streaming services on their smartphones and devices at home. Content producers are capitalizing on this trend by launching their own streaming platforms with original Brazilian content. Therefore, Brazil continues to lead the growth in Latin America, benefiting from affordable data plans and widespread availability of content in Portuguese.

Market Concentration and Competitive Landscape

Get actionable strategies to beat competition: Request sample copy

Top Strategies Followed by Media Streaming Market Players

• Established Players- Established players in the media streaming market focus heavily on research and development to drive innovation. Leaders like Netflix, Amazon Prime Video, and Disney+ annually invest billions into creating high-quality, immersive streaming experiences. They develop new recommendation algorithms using AI, offer higher resolution playback up to 8K, and experiment with interactive programming.
• Mid-sized Players- Mid-sized players stay competitive by providing cost-effective solutions. Hulu offers ad-supported plans at reduced rates to reach price-sensitive users. Tubi and Pluto TV operate free, ad-supported streaming services that appeal to value-minded consumers. These companies’ partner with internet service providers and device manufacturers to pre-install their apps, expanding accessibility.
• Niche Specialization- Smaller players focus on niche specialization. Crunchyroll targets anime fans worldwide with the largest online collection. Shudder streams horror, thriller and supernatural films year-round for dedicated genre fans. Independent streamers collaborate with startups and local production houses to promote undiscovered content from their region.

Emerging Startups in the Media Streaming Market

• Innovation- Exciting startups are applying innovative technologies to media streaming. Anthropic uses AI to automatically caption and subtitle videos, expanding accessibility. D-ID applies generative AI to digitally resurrect faces from the past. Their LifePortrait app could transform the memorialization industry.
• Sustainability- Sustainable startups also show promise. Bitmovin develops open-source video infrastructure that reduces encoding carbon footprint by 90%. EnviroInsights applies computer vision to waterways, supporting environmental monitoring and protection. Their technological contributions provide greener alternatives with broader societal benefits.
• Niche Specialization- New startups address niches through collaboration. Cinehouse connects independent cinemas worldwide on a digital network, preserving art house experiences. Black Film Archive preserves and shares overlooked Black films, documentaries and media. Partnerships with institutions expand discoverability and appreciation of underrepresented creations. Emerging startups innovatively reach audiences in sustainable,

Media Streaming Industry News

• In April 2024, Roku partnered with iSpot for ad measurement and The Trade Desk for ad targeting, enhancing its advertising capabilities.
• In August 2024, India's Competition Commission approved the merger of Disney+ Hotstar with Viacom18, consolidating streaming services in the region.
• In May 2023, Audacy partnered with Allen Media Group to launch three new audio streams dedicated to weather and climate news networks.
• In November 2023, Paramount Global sold its 13.01% stake in Viacom18 to Reliance for USD 517 million, subject to regulatory approval.
• In March 2022, Paramount+ announced plans to launch in India in 2023, aiming to expand its global footprint.

Key Takeaways from Analyst

• The media streaming market is experiencing strong growth driven by increasing penetration of smartphones, tablets and other smart devices. Easy accessibility to internet and availability of high-speed internet has further fueled the adoption of streaming services. Majority of media consumption is shifting from traditional TVs to OTT platforms as consumers prefer on-demand and ad-free content on various devices. North America currently dominates the market however Asia Pacific is expected to be the fastest growing region in coming years led by countries like India and China.
• While growing internet usage provides opportunities for market expansion, lack of strong internet infrastructure in some developing markets pose a challenge. Data constraints and streaming speeds can negatively impact user experience in areas with poor connectivity. Content licensing issues also act as a restraint for services looking to expand globally with their library. However, platforms are investing heavily in localized content production which can help them better engage users in international markets.
• Entry of tech giants like Amazon, Apple and Google has further intensified competition in an already crowded space. This has led to heavy promotional offers, bundled services and price wars between players to gain subscribers. While competition is good for customers, frequent changes in business models and pricing strategies also leads to uncertainty. Monetization remains a key challenge, especially for advertising supported models, due to changing privacy policies and targeted advertising regulations.

Market Report Scope

Market Dynamics

Market Driver - Easy Availability of High-Speed Internet in Metro Cities

The proliferation of high-speed internet across the globe has significantly bolstered the media streaming industry in recent times. Fast and reliable connectivity has become the backbone for enjoying multimedia content seamlessly on various compatible devices. As internet speeds continued their northward journey on both fixed-line and mobile networks, consumers gravitated towards streaming high-definition videos and accessing digital entertainment on-the-go. The trend firstly gained traction in developed economies with sophisticated broadband infrastructure but has now spread even in emerging markets riding on improving connectivity standards.

Market Challenge - Data Congestion Issues Challenges Market Growth

One of the key challenges currently being faced by the media streaming market is data congestion issues. As more and more users are opting for media streaming services over traditional cable/satellite TV, the amount of data being consumed through these services is rising exponentially. However, the current internet infrastructure in many parts of the world may not be equipped to handle this massive data load. During peak hours, internet speeds tend to drop significantly as the available bandwidth gets saturated. This leads to buffering issues, delayed/interrupted streaming and poor user experience. While service providers are enhancing their networks, there is still some way to go before data congestion is not a major problem. Unless networks are upgraded substantially, data congestion will remain a roadblock in further growth of media streaming.

Market Opportunity: Growth in Connected and Internet-enabled Devices Boosts Market Developments

One of the biggest opportunities for the media streaming market is the sharp rise in the number of connected and internet-enabled devices. Earlier, media streaming was limited to desktops/laptops and smartphones. However, with improved connectivity and powerful mobile chipsets, even non-traditional devices like smart TVs, gaming consoles, digital media players and smart speakers now allow for media streaming. Consumers want access to content anywhere, anytime and on any device. This increasing device proliferation is spurring greater media consumption via streaming. As per estimates, the number of internet-connected devices worldwide will grow from around 25 billion currently to over 75 billion by 2025. With ubiquitous connectivity across platforms, the opportunities for media streaming are immense. Service providers can leverage this connectivity revolution to boost subscriber base and revenues.

Market Segmentation

• Component Insights (Revenue, USD Bn, 2019 - 2031)
• • Software
  • Content Delivery Services
• Channel Insights (Revenue, USD Bn, 2019 - 2031)
• • Satellite TV
  • Cable TV
  • IPTV
  • OTT Streaming
•  Vertical Insights (Revenue, USD Bn, 2019 - 2031)
• • E-learning
  • Healthcare
  • Government
  • Sports
  • Gaming
  • Others
• Revenue Model Insights (Revenue, USD Bn, 2019 - 2031)
• • Subscription-based
  • Transaction-based
  • Advertising-based
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • IBM Corporation
  • Alphabet Inc
  • com Inc
  • Hulu LLC
  • Brightcove Inc
  • Apple Inc
  • Roku Inc
  • Havision Inc
  • Tencent Holdings Ltd
  • Netflix Inc
  • Disney+