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Video Streaming Market 2020 | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2024
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The categories of the video streaming market based on offering are service and solution. Between the two, in 2018, the higher revenue share of 94.6% was contributed by the solution category. Along with being extremely popular in the entertainment sector, video streaming solutions have become an important component for sales, marketing, business development, and corporate communications. This has resulted in their wide applications for personal as well as professional use. The solution category is further subcategorized into IPTV, OTT, and pay TV; among which the fastest growing subcategory is the OTT.
Based on type, the video streaming market is bifurcated into non-linear and linear. In 2018, the larger revenue share in the market was held by the linear type. This was attributed to the popularity of this type among users as they prefer the linear route for streaming services that provides them access to a variety of channels and live content. The linear type further offers an effortless, familiar, and more passive viewing experience with the scheduled content. In the forecast period, the higher CAGR is expected to be witnessed by the non-linear type.
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One of the major drivers of the video streaming market are the surging popularity of social media platforms, which can be credited to the improved access to the internet and connectivity. For instance, an explosive growth of 99% was exhibited by the video content on media platforms, such as YouTube in 2017. Further, these platforms are now increasingly being used as an advertisement revenue model for generating income. Based on this model, YouTube has generated the maximum revenue, which is closely followed by Facebook Inc.
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