The “Global Video Streaming Software Market By Component, By deployment, By streaming type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global video streaming software market size is expected to reach $18.09 billion by 2027, rising at a market growth of 15.9% CAGR during the forecast period.
Video streaming is defined as the constant transmission of different video files from a server to a viewer. Through this process, users do not need to download videos and can simply watch videos online. This streamed video content can range from movies, TV shows, and live-streamed content. Some of the major platforms that offer streaming videos to their subscribers are Hulu and Netflix.
The high penetration of smartphones and the growing population of internet users across the world are estimated to propel the growth of the video streaming software market during the forecast period. In addition, the technological advancements in the digital media sector are further projected to fuel the growth of the video streaming software market over the forecast period.
Moreover, the acceptance of video content for educational purposes has been increased due to a substantial increase in the consumption and simple access to video content because of the massive penetration of smartphones and the high availability of the internet.
The massive deployment of digital media across several industries has given rise to the increased viewer preference toward various streaming solutions and services, hence offering new growth avenues for the players operating in the video streaming software market.
COVID-19 impact analysis
The outbreak of the COVID-19 pandemic has impacted various aspects of the business domain. The video streaming software market is positively impacted by the pandemic. There are several restrictions and regulations imposed on people as well as businesses including the travel ban, lockdown, and social distancing, which encouraged people to better engage in the virtual world through videos. The lockdown has increased the demand for more video content and boosted the popularity of VoD and OTT subscriptions, as people were forced to stay inside their own homes.
Along with that, several business organizations and companies have also adopted work from home culture, which compelled them to use video streaming as their communication model for business continuity and thus, augmented the demand for video streaming software in the market.
Market growth factors:
Rising penetration of internet users and smartphones
The increasing population of smartphone users and high penetration of the internet are among the key aspects expanding the number of online users. This is expected to further augment the demand for real-time video services that is expected to open new growth avenues for the video streaming software market during the forecast period. The number of smartphone users will constantly increase in the future years, which is expected to accelerate the growth of the video streaming software market during the forecast period. Also, the consumption of video content has surged across the world that is expected to accelerate the market growth.
The increasing popularity of OTT platforms
The increasing popularity of OTT platforms like Netflix and Amazon Prime across the world is estimated to augment the growth of the video streaming software market over the forecast period. Additionally, the increasing demand for high-quality video content by the audience is encouraging these platforms to introduce better video content on their platform and hence, fueling the growth of the video streaming software market over the forecast period.
Marketing Restraining Factor:
The huge cost of content creation and the growing concerns regarding content piracy
There is a surge in the demand for more exclusive video content, which is encouraging enterprises to invest more in various phases of the video streaming process to improve their video creation process. One of the key challenges faced by video content creators is the duplication of their video content around numerous regions and different industrial verticals. These kinds of problems add to the total cost of the content for the organizations. The piracy of video content is very high around the world that is expected to hinder the demand for video streaming software around the world.
The video streaming software market is fragmented into services and solutions. The solutions segment is projected to acquire the highest share in the market over the forecast period. By adopting video streaming solutions, companies become empowered to better manage, centralize, and securely provide videos. In addition, video streaming solutions assist in managing all the activities, from recording to ingestion to the final delivery, on end-user devices.
Deployment type outlook
The video streaming software market is segmented into On-premises and Cloud. The cloud deployment segment is estimated to display a promising growth rate over the forecast period. It is because cloud-based video streaming platforms offer numerous benefits like easy deployment, low operational expenses, scalability, and simple collaboration.
The video streaming software market is fragmented into media & entertainment, BFSI, academia & education, healthcare, government, and other verticals. Among all, the academia and education segment is anticipated to exhibit the highest growth rate over the forecast period.
The video streaming software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific is estimated to display the highest growth rate over the forecast period. It is due to the improving technological infrastructure of this region. As emerging nations are highly inclining toward the usage of video streaming platforms in order to enhance and simplify their business processes, the demand for these video solutions is expected to fuel in this region.
Cardinal Matrix – Video streaming software market competition analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; IBM Corporation is the forerunners in the Video Streaming Software Market. Companies such as Haivision Systems, Inc., Brightcove, Inc. etc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Brightcove, Inc., Panopto, Inc., Kaltura, Inc., Vimeo.com, Inc. (IAC Group), Qumu Corporation, Haivision Systems Inc., Sonic Foundry, Inc., Plantronics, Inc. (Polycom, Inc.), and Vbrick Systems, Inc. PR Newswire