Reportlinker.com announces the release of the report “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”
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 would further augment the demand for real-time video services that would 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 would 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 would 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.
Market Restraining Factors
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 would 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.
End User Outlook
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 would fuel in this region.
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.
Recent Strategies Deployed in Video Streaming Software Market
Partnerships, Collaborations and Agreements:
Aug-2021: Brightcove formed a partnership with Bizzabo, an event software platform. This partnership aimed to offer customers scalable, secure, and reliable video streaming for virtual & hybrid events. In addition, the partnership would enable Bizzabo to combine Brightcove’s broadcast-grade streaming technology into its platform, offering customers an end-to-end solution that assists them to manage, design, execute and evaluate the success of their hybrid or virtual events.
Mar-2021: Qumu Corporation entered into a partnership with Socialive, the leading video creation platform for business. This partnership aimed to boost video content production and distribution for companies no matter their size. In addition, Socialive’s SaaS-based video production studio involves numerous layout options and strong production capabilities available to prevailing Qumu customers through Qumu Cloud.
Feb-2021: Panopto came into a partnership with TechSmith Corporation, the leading provider of screen capture and video editing tools. This partnership aimed to provide educators, students, and employees a robust solution for securing, creating, and distributing video-based intelligence in universities & enterprises.
Oct-2020: Vimeo came into a partnership with GoDaddy, an American publicly traded Internet domain registrar and web hosting company. This partnership aimed to bring the power of Vimeo to GoDaddy’s website builder and marketing tools.
Sep-2020: Brightcove formed a partnership with Cvent, the market-leading meetings, events, and hospitality technology provider. This partnership aimed to provide its video solutions as part of Cvent’s newly-launched Virtual Attendee Hub. Under this partnership, Cvent users could easily launch scalable, reliable, and broadcast-grade video experiences to their audiences.
Apr-2020: Kaltura formed a partnership with Degreed, the workforce upskilling platform. This partnership aimed to allow learning and talent teams to develop, curate, unify, and protect videos, and insert them effortlessly into both self-directed learning and structured training experiences via a branded, flexible portal in Degreed.
Product Launches and Product Expansion:
Oct-2021: Brightcove unveiled Brightcove CorpTV, a solution developed for companies to think and act like media brands. This product allows companies to develop channels just like Netflix or Hulu, which stream content to users and employees and other target audiences, everyone with their own, audience-specific, content.
Oct-2021: Haivision introduced Haivision Connect, an all-new cloud platform designed for churches. This live streaming solution opened the latest possibilities for churches to simply connect and engage with audiences from anywhere.
Jun-2021: Mediasite released Mediasite 8, which includes a powerful mix of new tools and features. This solution aimed to support the emerging hybrid world of work, learning, and events. In addition, the next generation of Mediasite is the advanced video experience needed to develop the most engaging, interactive, and customized communications regardless of time and distance.
Apr-2021: IBM expanded its IBM Watson Advertising Accelerator for OTT and video, developed to assist marketers to move beyond contextual relevance alone. The accelerator aimed to leverage artificial intelligence to significantly maximize OTT ad creative for enhanced campaign results at scale, not reliant on conventional advertising identifiers.
Mar-2021: IBM introduced a replace video feature for its video streaming and enterprise video platforms. This would enable companies to update outdated videos with the latest versions without worrying about the logistics around URL links or incidents where the video was embedded. Due to this, it would offer a fast method for content to be cycled and remain appropriate to target audiences.
Feb-2021: Brightcove released Brightcove Cloud Playout, a new feature. This feature improves Brightcove’s end-to-end video platform and makes it one among the few online video providers to provide this capability.
Jan-2021: Haivision launched its Haivision Play Pro app for usage on Android mobile devices, allowing remote broadcast video workflows. Haivision Play Pro is a free mobile app, which allows customers to safely play or stream live low latency video over SRT from anywhere.
Sep-2020: Qumu introduced a new functionality extension called Qumu Stream, Record, and Manage. This functionality for Zoom is accessible at no charge under all prevailing Zoom corporate licensing plans.
Aug-2020: Qumu launched Qumu Video Control Center (VCC) Version 10.5, the customer-hosted deployment of Qumu’s intelligent Enterprise Video platform. This launch involves a new Qumu Analytics Engine (QAE) that offers complete, real-time, and historical usage reporting of live and on-demand video content through a highly scalable, redundant, and ultra-fast search application.
Jun-2020: Vbrick introduced innovations and enhancements in webcast analytics with Rev Platform. Rev’s video intelligence advancements comprise a new industry-leading real-time analytics dashboard to offer visibility into webcast performance.
May-2020: Haivision launched a new version of the Haivision Media Platform. This latest version is aimed at safe, multi-site live video distribution for streaming enterprise video content that includes all-hands webinars and IPTV to employees from anywhere inside & outside the corporate firewall.
May-2020: Panopto released Panopto Express, the quickest and easiest way for employees & teachers. This product aimed to develop and share recordings of presentations & lectures.
Acquisitions and Mergers:
Aug-2021: Haivision Systems acquired CineMassive Displays, an industry leader in delivering visual collaboration solutions for mission-critical environments. This acquisition aimed to integrate the power of real-time secure video networking and data visualization to develop a distinct offering in the market, which fulfills the mission-critical challenges of complicated situations such as network, cybersecurity, and physical threats.
Apr-2021: Panopto took over Ensemble Video, makers of video management software for K-12, higher education, and enterprises. This acquisition aimed to allow hundreds of customers to utilize Panopto, which would expand the company’s capability to fulfill the demands of K-12 educators and strengthen its world-class engineering team.
Jul-2020: Haivision acquired Teltoo (US), a key technology innovator for peer-to-peer (P2P) and WebRTC enabled real-time video delivery. This acquisition aimed to expand Haivision’s expertise in cloud-connected live video from contribution & distribution, through to delivery. In addition, this deal would also allow Haivision to apply its machine learning and AI capabilities against real-time network analytics to maximize comprehensive edge-to-edge low latency video workflows. Yahoo Finance!