Market Insights Digital Digital Media Video-on-Demand

Video Streaming (SVoD) - Senegal

Senegal

The Video Streaming (SVoD) market) market in Senegal is projected to reach a revenue of US$22.17m in 2024.
It is expected to experience an annual growth rate of 17.02% between 2024 and 2027, resulting in a projected market volume of US$35.53m by 2027.
When compared globally, it is worth noting that United States will generate the highest revenue in the Video Streaming (SVoD) market) market, amounting to US$43,970.00m in 2024.
The average revenue per user (ARPU) in the Video Streaming (SVoD) market) market is projected to be US$12.46 in 2024.
In Senegal, the number of users in the Video Streaming (SVoD) market) market is expected to reach 2.3m users by 2027.
Furthermore, it is estimated that the user penetration rate will be 9.6% in 2024 and is expected to increase to 11.3% by 2027.
Senegal's video streaming market is experiencing rapid growth due to the increasing availability of high-speed internet and the demand for local and international content.

Key regions: South Korea, Japan, United States, India, United Kingdom

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Analyst Opinion

While the growth of Video Streaming services like Netflix and Amazon Prime Video is not over, we assume that the adoption of such services will soon reach its peak, especially in developed countries. New offers such as Apple TV+ might attract new customers, but the general lack of willingness to pay in huge potential markets like China will cap the growth in this market on a global scale.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video-on-Demand market. Video-on-demand is defined as premium over-the-top video-on-demand (VoD) content distributed over the internet. This includes pay-per-view (TVoD), video downloads (EST), and video streaming (SVoD). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.