CHICAGO, Nov. 11, 2021 /PRNewswire/ -- According to a research report "Video Streaming Software Market with COVID-19 Impact, by Component (Solutions (Video Distribution and Video Analytics) and Services), Streaming Type (Live Streaming and Video-on-Demand Streaming), Vertical, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Video Streaming Software Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.5% during the forecast period, to reach USD 17.5 billion in 2026 from USD 7.5 billion in 2021.
Key factors that are expected to drive the growth of the market are the increasing penetration of mobile devices and internet users, growing demand for VoD streaming, technological advancements in the digital media industry, and the growing need for transcoding to deliver videos to maximum users. These factors are driving the demand for video streaming software.
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Solutions segment to hold a larger market size during the forecast period.
Based on component, the Video Streaming Software Market is segmented into two categories: solutions and services. The solutions segment to hold a larger market size during the forecast period. Video streaming solutions enable organizations to centralize, manage, and securely deliver videos. Video streaming solutions help manage all the activities, from capturing to ingestion to the final delivery, on end-user devices. Video capturing, batch and programmatic uploading, automatic transcoding, inside video searching, video editing, Digital Rights Management (DRM), encryption, monetization, APIs, video player, video collaboration, and broadcast monitoring are the key features of video streaming solutions. These solutions provide various benefits, such as low latency video streaming, reduced distribution cost, lower downtime, and faster transcoding speed for enterprise customers. All these factors contribute to the rising adoption of video streaming solutions.
Cloud deployment mode segment to grow at a higher CAGR during the forecast period.
Cloud-based video streaming platforms provide multiple advantages, such as low operational expenses, easy deployment, scalability, and easy collaboration. This interests both large enterprises and SMEs. Due to the rise in the number of smartphone users, major players are focusing on offering handy and easily accessible solutions for platforms. Large enterprises and SMEs are deploying cloud-based video streaming platforms primarily for the flexibility these platforms offer. With cloud-based video streaming platforms, organizations can easily minimize their upfront costs, manage content quality, increase their Return on Investment (RoI), and broaden their customer base. Hence, large enterprises are gradually adopting cloud-based video streaming solutions. SMEs are also significantly adopting cloud-based video streaming solutions, as these cloud-based solutions are scalable and require low capital investment.
Academia and Education segment is expected to grow at a higher CAGR during the forecast period.
With every new day, the number of internet users consuming visual content is on the rise, and the use of video streaming services for the education sector is increasing. Live educational video streaming and live education broadcasting could prove to be great engagement tools and can educate, share knowledge, and conduct training programs. Video is increasingly popular in the education sector. In universities, middle schools, businesses, and online courses, videos have become a highly effective medium. A survey report suggests that 88% of respondents believe that video increases the overall student achievement levels. Live streaming and on-demand video provide several benefits to students. Among the biggest of these is accessibility. A research study conducted by Cisco shows that about two-thirds of teachers agree that video education help students learn. Even though the use of video is not new when integrating technology in the classroom, the use of live streaming is turning the tables in universities and colleges throughout the learning process, campus management, and student recruitment.
North America to account for the highest market share during the forecast period
The Video Streaming Software Market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The Video Streaming Software Market report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall Video Streaming Software Market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. The presence of many video streaming software vendors in the US and high awareness among enterprises about the benefits of video streaming solutions as part of strong marketing strategies, Investments in various technologies, including AI, IoT, big data, AR, and VR, and the growing rate of adoption of cloud services expected to drive the market in North America. Europe and MEA are also expected to witness high growth rates during the forecast period.
The Video Streaming Software Market comprises major providers, such as IBM (US), Kaltura (US), BrightCove (US), Panopto (US), Haivision (US), Vimeo (US), VBrick (US), Polycom (US), Qumu (US), Sonic Foundry (US), MediaPlatform (US), Akamai (US), Limelight Networks(US), Agile Content (Spain), Ramp Holdings, Inc, (US), Sproutvideo (US), Wowza (US), Dacast (US), Zixi (US), Kollective Technology (US), Muvi (US), Movingimage (US), Vidizmo (US), Ravnur,Inc. (US), uStudio (US), Contus (India), and Vidyard (Canada) . The study includes an in-depth competitive analysis of key players in the Video Streaming Software Market with their company profiles, recent developments, COVID-19 developments, and key market strategies
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