Streaming media refers to the form of media that transmits audio, video, and multimedia files on the network in a streaming manner. The streaming media server is the core system of streaming media applications and the key platform for operators to provide video services to users. The primary function of the streaming media server is to collect, cache, schedule, and transmit streaming media content. The main function of the streaming media server is to transfer video files to the client by streaming protocols (RTP/RTSP, MMS, RTMP, etc.) for users to watch online. It can also receive real-time video streams from video acquisition and compression software and stream the live broadcast to the client through the protocol.
The global online streaming services market is expected to grow at a CAGR of over 12.64% from 2020 to 2027. The key factors are the growing penetration of smartphones, easy access to the internet, and the rising popularity of online video streaming in the education sector. Further, mobile phones’ rapid adoption on account of the mounting popularity of social media platforms and other digital mediums for branding and marketing is projected to fuel the online streaming services market. Additionally, the increasing demand for live and on-demand video content will spur the global online streaming services market in future periods. The growing digitalization and increasing adoption of digital music will bolster the robust growth of the global online streaming services market in the upcoming periods.
Moreover, the surge in internet speeds and connectivity, along with the swelling number of users on social media platforms, is strengthening the market growth. The swelling mobile subscriptions & adoption of mobile-connected devices, especially smartphones, and the growing need for original content & live streaming is witness remarkable growth of online streaming services market. The increasing consumption and easy access to such content, increasing demand for mobile devices, and widespread availability of the internet are expected to propel the demand for online streaming services over the coming years. Furthermore, the growing adoption of smartphones to watch movies, TV shows, live sports, and events will trigger the growth of global online streaming services market share in the analysis timeframe. The growing penetration of the internet, swelling adoption of smartphones, and laptops complemented by the increasing volume of the millennial population and the transitioning consumer behavior with rising digitalization will boom the market’s growth.
Advanced mobile technologies will be ubiquitous, and the number of smartphones will increase tenfold. The current number of smartphone users today is 3.5 billion, which means 44.98% of the world’s population owns a smartphone. About 80% of new smartphone users will come from the Asia Pacific, the Middle East, and Africa, data consumption in the mature mobile broadband market. The results show that a relatively small number of users generates a significant portion of the traffic. Video is the main consumption mode of these heavy users. India is the second-largest smartphone market globally, with about 346 million smartphone users and a penetration rate of 25.3%.
Recently, the epidemic of COVID-19 has erupted and spread rapidly at many points globally, and the world’s public health security is facing enormous challenges. With the introduction of segregation and closure policies in various countries, travel has been severely restricted on a large scale. People have begun to enter or will live at home for several months. The streaming video industry faces three major problems under the global epidemic: bandwidth, content, and revenue issues. The streaming media video applications further cross-border, help digitize cultural content, and promote the combination of content and technology to create a new cultural ecology.
By the type, the global online streaming services market bifurcates into online video streaming and online music streaming. Online video streaming is expected to be the highest revenue share for online streaming services during the forecast period. The segment’s growth is primarily attributed to the surge in smartphone penetration, easy accessibility of the internet, and the growing use of video conferencing in business operations. It also helps organizations modernize their daily activities, such as scheduling meetings, live table conferences, and interacting internally with customers.
The online music streaming will witness a lucrative growth rate in the estimated period due to the rising adoption rate of digital music and the increasing number of service providers.
Based on the deployment, the global online streaming services market bifurcates into the cloud and on-premises. The cloud held a higher market share in 2019 and projected to dominate the global online streaming services market by 2027. It is due to the enabling of large bandwidth and speed. Advancements in cloud computing have revolutionized online streaming and enabled the creation of platforms such as YouTube.
The on-premises will grow at a momentous CAGR in the forecast period. It is owing to on-premises ensure content and system security and the opportunity to pick and choose providers at every point of streaming workflow.
Based on the solution, the global online streaming services market segregated into Internet Protocol TV, Over-the-Top (OTT), and Pay-Tv. The Pay-TV segment held for a momentous market share in 2019 and will witness to gain maximum market revenue by 2027. It is attributable to the people still prefer TVs for viewing linear and non-linear content and mostly watch non-linear content on their TV sets.
The Over-the-Top (OTT) segment is the fastest-growing segment over the forecast period. It is due to the increasing availability of unlimited wireless data plans and public Wi-Fi. It delivers music and TV content through the internet without the need for users to subscribe to a traditional cable or pay-TV services.
By the streaming type, the global online streaming services market bifurcates into on-demand streaming and live streaming. The live streaming segment held a notable revenue share in 2019. It is due to the rise in demand for digital media devices and the availability of faster internet to access media content remotely.
The on-demand streaming segment will grow with a significant CAGR over the forecast period. It is due to the introduction of subscription-based music streaming options and video streaming.
Based on the platform, the global online streaming services market segregated into gaming consoles, laptops and desktops, smartphones and tablets, and smart TV. The smartphones and tablets segment will dominate the global online streaming services market by 2027. It is due to the easy accessibility of the internet, increasing disposable income, better standard of living, and changing lifestyles.
The smart TV accounted for the largest share of the online streaming services market in 2019 on account of the comprehensive option of TV channels and music channels along with video streaming services such as Netflix and live music streaming services.
Based on the end-user, the global online streaming services market bifurcates into the enterprise and consumer. The enterprise will dominate the global online streaming services market due to its help in corporate communications, knowledge sharing and collaborations, marketing and client engagement, and training and development.
The consumer will grow at a significant CAGR in the forecast period. It is owing to increasing mobile subscriptions and the adoption of connected devices, especially smartphones.
By geography, the global online streaming services market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to project considerable growth over 2020-2027. It is due to the rapid growth of cloud-based streaming services and the adoption of advanced data services such as uninterrupted 4G and high-speed broadband connectivity.
The Asia Pacific will capture a prominent share of the online streaming services market by 2027. Due to the swelling use of mobiles and tablets, rapid technological advancements, and the popularity of online streaming.
Companies such as Alibaba Group Holding Ltd., Baidu Inc., Amazon.com Inc., Balaji Telefilms Ltd., Netflix Inc., Eros International Plc, iflix Ltd., Spotify Technology SA, Tencent Holdings Ltd., and The Walt Disney Co. are the key players in the global online streaming services market.
By Streaming Type