According to the report published by Research Dive, the global video streaming software market is projected to surpass $19,537.1 million by 2027 and grow at a healthy CAGR of 20.4% over the forecast period from 2020-2027. The extensive report provides a concise layout of the video streaming software market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2020-2027. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the video streaming software market
Drivers: The increasing demand for on-demand and online video streaming services along with growing use of digital platforms are some factors estimated to drive the growth of the global video streaming software market during the forecast period. In addition, availability of high-speed internet services and growing technological advancements are also anticipated to boost the market growth by 2027.
Opportunities: Increasing incorporation of innovative technologies like artificial intelligence and augmented reality tools into video streaming services is expected to create abundant growth opportunities for the global video streaming software market by 2027.
Restraints: Network connectivity issues in developing nations is the prime factor predicted to hamper the market growth.
Covid-19 impact on the video streaming software market
The onset of the Covid-19 pandemic has had a positive impact on the video streaming software market due to the growing adoption of platforms like Zoom, Microsoft Teams, cloud-based technologies, educational portals, gaming platforms, and social media. In addition, several prominent market players are initiating strategic product launches, partnerships, and agreements to boost their market share in the global market. Moreover, continuous technological advancements and the growing demand for online video streaming applications like Netflix and Amazon Prime are also predicted to propel the market growth post the pandemic stress.
Segments of the video streaming software market
The report has fragmented the video streaming software market into a few segments based on component, streaming type, deployment type, vertical, and regional analysis.
Component: Solution sub-segment to be highly dominant
The solution sub-segment is projected to have a dominant market share and generate revenue, rising from $2,556.2 million in 2019. This growth is attributed to the wide usage of solution components by broadcasters, network providers, and other industry verticals. Moreover, the solutions component also provides major benefits in the content delivery network (CDN) to deliver enhanced video streaming quality. These factors are estimated to bolster the sub-segment’s growth by 2027.
Streaming Type: Live streaming sub-segment to be highly beneficial
The live streaming sub-segment of the global video streaming software market is anticipated to have a significant market share and gather $11,175.3 million during the forecast timeframe due to the growing use of digital platforms for online learning and remote working purposes. Additionally, the advantages of live streaming services like wider audience potential, ease, and convenience, analytics tracking, richer content use, etc. are also expected to propel the sub-segment’s growth by 2027.
Deployment Type: On premise sub-segment to be highly lucrative
The on-premise sub-segment is predicted to have a noteworthy market size and garner a revenue of $10,046.4 million during the analysis timeframe. This immense growth is attributed to the complete control the on-premise deployment method provides over enterprise content streaming platforms and information.
Vertical: Media and entertainment sub-segment to be highly progressive
The media and entertainment sub-segment of the global video streaming software market is projected to hold the largest market share and grow at a healthy 20.3% CAGR during the forecast period. The growth is attributed to the extensive usage of video streaming platforms in the media and entertainment industry for advertising and promotional purposes.
Region: Video streaming software market in the asia-pacific region to witness better growth opportunities
The video streaming software market in the Asia-Pacific region is estimated to have a significant growth rate and surpass $3,848.8 million during the 2020-2027 timeframe due to rising demand for live video streaming services and growing adoption of the same by organizations for their training programs. Additionally, the extensive utilization of digital platforms for online learning and remote working purposes is also anticipated to augment the market growth in the Asia-Pacific region by 2027. Globe Newswire