Video Streaming Software Market Size, Segments, Competitors Strategy, Regional Analysis and Growth by Forecast to 2027 | COVID-19 Impact
Video Streaming Software Market Research Report- Forecast till 2023
According to Market Research Future (MRFR), the global video streaming software market is expected to reach 9.57 billion at a CAGR of approximately 18% from 2017 to 2023 (forecast period). The study includes a comprehensive understanding of the global situation, the economic situation, and the COVID-19 analysis of the overall industry.
Video streaming software is specifically designed to transfer files using the internet to the consumers. The consumer doesn't have to wait for the file to be downloaded and then played; this software avoids this process. Video streaming software allows consumers to access real-time content that is sent across the network.
Growing use of video streaming software in corporate training and the use of such software in fields like smart manufacturing, connected logistics, energy & utilities, consumer wearables, smart defense and government, connected healthcare and vehicles, etc. are critical drivers that are expected to drive the growth of the video streaming software market. Moreover, the high adoption of video as a service due to its low-cost service in developing countries is a significant factor likely to fuel the global market's growth for video streaming software.
In addition, the increasing demand for transcoding to deliver video content is another factor likely to drive the development of the global market for video streaming software. Rising developments in online video streaming and demand for video-on-demand services are key factors propelling the global market's growth for video streaming software.
In addition, the high rate of adoption of video streaming software by various small and medium-sized enterprises and the use of Artificial Intelligence and video analytics to improve user experience are additional factors predicted to spur the growth of the global market for video streaming software.
However, complex network connectivity is a significant factor expected to impede the growth of the global market for video streaming software. In addition, the high initial cost to create content and some concerns related to network privacy and security are expected to inhibit the growth of the global market for video streaming software.
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The global market for video streaming software has been segmented by component, streaming type, deployment, and vertical.
Based on the component, the global video streaming software market has been segmented into solution and service. The solution segment is further divided into transcoding and processing, video management, video delivery and distribution, video analytics, video security, and others. The transcoding and processing solutions segment is expected to witness the highest market share in the market, while the video analytics solutions segment is expected to expand at the highest pace during the assessment period owing to the growing adoption of video analytics in order to gain an end-to-end view of video performance from the server to the network and finally to the players. The service segment is further segregated into professional services and managed services.
Based on the streaming type, the global video streaming software market has been segmented into live streaming and video-on-demand streaming.
Based on the deployment, the global video streaming software market has been segmented into the cloud and on-premise.
Based on the vertical, the global video streaming software market has been segmented into BFSI, education, media & entertainment, government, healthcare, and others.
The global market for video streaming software is studied in Asia Pacific, North America, Europe, and the Rest of the World.
It has been noted that North America is expected to have the largest market share. Simultaneously, the Asia Pacific is projected to rise at the fastest pace during the forecast period. The growth of North America's market is due to technological advances and increased adoption of live video streaming software applications across industry verticals.
Brightcove, Inc. (U.S.), Haivision, Inc. (Canada), IBM Corporation (U.S.), Kaltura, Inc. (U.S.), Kollective Technology, Inc. (U.S.), Ooyala, Inc. (U.S.), Panopto (U.S.), Polycom, Inc. (U.S.), Qumu Corporation (U.S.), Sonic Foundry, Inc. (U.S.), VBrick (U.S.), and Wowza Media Systems, LLC (U.S.) among others.
Brightcove, Inc., IBM Corporation, Kaltura, Inc., Kollective Technology, Inc., Ooyala, Inc., Panopto, Polycom, Inc., and Qumu Corporation are some of the leading players in the global market for video streaming software. Cisco is demoing its new Infinite Video Platform, a hybrid cloud over the top (OTT), and a DVR optimization product. The infinite video platform is designed to automatically optimize streaming content for ideal results on any device and a scale. At the same time, Twitter has collaborated with 16 major streaming firms, such as Vox Media, Viacom, WNBA, BuzzFeed, and others. This collaboration will help Twitter broaden its customer base for live video streaming software. In addition, the increasing demand for on-demand video streaming software from small and medium-sized business units is anticipated to drive the growth of the video streaming software industry. Growing popularity of video-as-a-service in enterprises due to the lower overall cost of ownership is one of the critical factors responsible for accelerating the global market's growth for video streaming software. Another trend that drives market growth is the widespread use of videos in corporate training.
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Global Video Streaming Software Market Research Report: Information by Component (Transcoding & Processing, Video Management, Video Delivery & Distribution, Video Security), Streaming Type (Live, Video-On-Demand), Deployment, Vertical – Forecast till 2023