The North America Media Streaming Market is expected to grow USD 49.57 billion in 2024 and USD 71.23 billion by 2029, growing at a CAGR of 7.52% during the forecast period.
Media Streaming is a multimedia service offered by the Internet Service Providers that allows customers to have uninterrupted online services. It allows the user to accept video, audio and multimedia content without downloading the files to their systems. Media streaming has its application for real-time entertainment, web browsing and advertising, gaming, social media, and online learning.
North America dominated the worldwide market for media streaming services with over 40% due to increased adoption of streaming services in countries such as the United States and Canada due to the increasing penetration of internet and streaming technologies.
Real-time entertainment is supposed to progress at a considerable CAGR of 31.2% during the outlook period. The growth is primarily attributed to the growing popularity of on-demand entertainment services such as movies, shows, videos, etc. on many new platforms. The video streaming media streaming services market is expected to grow at a CAGR of 24.2% during the forecast period, due to the increasing penetration of OTT platforms and other platforms. transmission forms
The main drivers of the North American media streaming market are the rising adoption of online video and audio streaming among local customers. The increasing high-speed Internet and the growing popularity of online programs among youth are creating opportunities for media streaming market in this area.
The convenience of watching video content anytime, anywhere, the rise in mobile subscriptions and the adoption of connected mobile devices, especially smartphones, and the growing need for original content and live streaming are some of the main factors that are driving the growth of the video streaming market.
However, transmission interruptions, piracy, and low bandwidth or limited transmission speed are some of the main challenges hampering growth.
The continued spread of the coronavirus has had a positive impact on the streaming media industry due to home containment measures. Providers have seen an increase in subscriber numbers and peak audiences in all regions due to increased demand for online streaming and changing consumers. For example, in the first quarter of 2020 that ended on March 31, Netflix added 15.8 million subscribers worldwide, more than double the 7.2 million expected and a growth of 22.5% year-on-year. year.
The COVID-19 outbreak is expected to have a positive impact on market growth as it has caused roadblocks in major cities around the world, prompting an increased need for entertainment. As a result, the audience for video streaming services has grown significantly around the world.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
7.52% |
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Segments Covered |
By Type of services, Applications, End Users, and Region |
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Various Analyses Covered |
Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
The United States, Canada, Mexico, and Rest of North America |
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Market Leaders Profiled |
Netflix, Inc., IBM Corporation, Apple Inc., Amazon.com, Inc., Cisco Systems, Inc., Akamai Technologies, Google Inc., Roku, Inc., Hulu, LLC., and others. |
The media streaming services market can be segmented by type of service, applications, end users, and regions.
the media streaming service market is further segmented into
Audio Streaming
Others (live captions, tapes, and real-time text).
Of these, the video streaming sub-segment is likely to record the highest growth. This growth is mainly credited to the augmenting popularity of on-demand entertainment services, such as movies, shows, videos and live games on televisions and other platforms.
the market is categorized as
Real-time Entertainment
Web Browsing & Advertising
Gaming
Social media
Online/Distance Learning.
Today, the real-time entertainment applications segment dominates the market. However, other application segments such as online learning and web advertising are also emerging as potential revenue streams due to their growing popularity among educational institutions and businesses.
the market is categorized as
Personal/Household Users
Educational Institutions
Professional Organizations.
The adoption of video streaming service among home users is driven by the wide availability of high-speed Internet access and the growing popularity of online TV shows. Businesses and educational institutions are also witnessing rapid adoption of media streaming services and are supposed to continue adoption over the outlook period.
North America dominated the media streaming services market with over 40%, followed by APAC and Europe, and is expected to experience significant growth during the forecast period. The growing adoption in countries like USA, Canada etc. has significantly contributed to the revenue growth of the Media Streaming market. In addition, the adoption of mobile devices in North America and other regions is also improving the market. For example, it is estimated that approximately 80% of adults in North America watch video content on mobile devices. Hence, these advantages are analyzed to drive the market over the forecast period.
The North American streaming media market is growing alongside the technology, media and telecommunications industry, but the market is likely to slow in growth due to a shortage of skilled professionals.
Top 10 media streaming companies in this market include Netflix, Inc., IBM Corporation, Apple Inc., Amazon.com, Inc., Cisco Systems, Inc., Akamai Technologies, Google Inc., Roku, Inc., Hulu, LLC., and others.
In February 2020, Netflix partnered with Samsung and announced that Netflix would be integrated with the Bixby and Galaxy phones.
In September 2018, Akamai Technologies launched two new solutions: Akamai Cloud Wrapper and Akamai Direct Connect for TV distributors and broadcasters to address the challenges associated with cloud computing and ensure high-quality delivery to the Akamai network.
In January 2019, Hulu-owned Disney added 8 million subscribers and now has around 25 million subscribers for its live TV and subscription-on-demand (SVOD) plans in the United States.
Frequently Asked Questions
As of 2024, Netflix holds the largest market share in the United States, followed closely by Amazon Prime Video, Hulu, and Disney+.
The adoption of 5G technology in Canada has significantly improved the quality of streaming services, enabling faster download speeds, lower latency, and enhanced viewing experiences, particularly for high-definition and live-streamed content.
Millennials and Gen Z are the primary demographics driving the growth of media streaming in North America, with a strong preference for mobile viewing and on-demand content. However, older age groups are also increasingly adopting streaming services.
Media streaming companies in North America face regulatory challenges related to content licensing, data privacy, and local content quotas. In Canada, for example, the Canadian Radio-television and Telecommunications Commission (CRTC) imposes requirements for Canadian content, which streaming platforms must navigate.
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