Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global video streaming software market 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.
The COVID-19 Impact on the global video streaming software market
The pandemic has had a positive impact on the video streaming software market. Mandatory containment measures and health safety compliances have led to increased VoD and OTT subscriptions, as most of the people are staying at home.
Also, due to sudden disruptions in supply chains across verticals and containment measures, several offices have shut down while most of the enterprises have adopted the 'work-from-home initiative. This has further boosted the use of video streaming for business continuity purposes, such as internal communication, training and development, and large audience engagements across the globe. As per industry experts, most vendors in the video streaming or related markets have experienced an increase of 20-40% in their customer base due to the pandemic.
The solutions segment is expected to hold a higher market share 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
APAC to grow at the highest CAGR during the forecast period
The report segments the global video streaming software market by component, the video streaming software market is segmented into two categories: solutions and services. By streaming type, the market is segmented into two categories: live streaming and video-on-demand streaming. By deployment model, the market is segmented into two categories: on-premises and cloud. By vertical, the market is segmented into media and entertainment, BFSI, academia and education, healthcare, government and other verticals. By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.
Increasing Penetration of Mobile Devices and Internet Users
Growing Demand for VoD Streaming
Technological Advancements in the Digital Media Industry
Growing Need for Transcoding to Deliver Videos to Maximum End-users
Increase in Demand for High-Quality Videos
High Content Creation Cost and Threat of Content Piracy
Network Connectivity and Infrastructure Issues
Growing Preference for Online Streaming Services Over Traditional TV
Optimization of Network Bandwidth
Growth in Demand for Real-Time Video Services
Growing Threat of Video Content Security and Privacy
Poor Internet Speed Reducing the Quality of Service
Case Study Analysis
Round-The-Clock Video Monitoring to Families of Patients in Critical Care
Optimization of a Broad Range of Applications
Effective Ways of Learning
Ultra-Low-Latency and Synchronized Streaming
High-Quality Viewing Experience
Ramp Holdings Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2j906v
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