during the forecast period, to reach USD 6. 8 billion by 2026 from USD 3. 5 billion in 2021. Key factors that are expected to drive the growth of the market are the growing demand for onlin video content, adoption of cloud-based services by enterprises, increasing number of internet users around the world and rise in demand for video recording equipment and devices.
New York, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Video Content Management System Market with COVID-19 Impact by Component Application, Deployment Model, Industry Vertical and Region - Global Forecast to 2026" - https://www.reportlinker.com/p06131701/?utm_source=GNW
The COVID-19 Impact on the global video content management system market
The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems.COVID-19 impacts are foreseen to shift consumer demand to online channels.
This may irreversibly change customer behavior as once people get into the habit of shopping online, it becomes a routine, and it is hard to get away from it easily, forcing companies to escalate their online presence.There was an immediate and widespread impact of COVID-19 on customer behavior across all industries.
Education industry has been the most affected by the impact of pandemic when it comes to publishing and distributing content to students and employees. Organizations across different verticals are leaveragin video content management systems due flexibility of managing large video files, enhances corporate communication and offer opportunities for promotion, marketing and address live audiences.
Services segment to grow at a higher CAGR during the forecast period
Based on the component, the market is segmented into two categories: platform and services.The market for services is expected to grow at a higher CAGR during the forecast period.
The growth is mainly attributed to the growing amount of video content consumption and cloud-based video services.Services are necessary for easy deployment, integration, and proper functioning of the video content management system.
The services segment has been further segmented into training & consulting, support & maintenance, and implementation and integration. Services are necessary for easy deployment, integration, and proper functioning of the software.
On-premises segment to account for a higher market share during the forecast period.
The video content management syste market is segmented by deployment mode into on-premises and cloud.The on-premises segment account for a higher share of the video content management system market during the forecast period as large enterprises largely adopt on-premises video content management system solutions to have full control over their infrastructure and data; and upkeep their robust security of data pertaining to integration with internal company systems such as customer relationship management, employee management system, and sales management system.
While the private cloud model is gaining popularity in organizations to overcome security and data privacy challenges.
Education vertical to grow at a higher CAGR during the forecast period.
Education is one of the fastest-growing verticals as the industry is undergoing extensive development, with advancements in technologies, thereby enhancing the overall industry vertical.The education segment has increased the adoption of video content management system platforms, giving it the highest market share.
The education segment includes the higher education category and K-12.With the rise in education shifting online where schools and colleges and other types of educational gatherings have closed, the creation of video content has increased three-folds.
According to industry experts, the Increasing adoption of digital platforms by educational institutes is expected to generate vast opportunities for industry players over the forecast period.
North America to account for the highest market share during the forecast period.
The video content management system market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America.The 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 content management system market during the forecast period.Following North America, Europe is expected to hold the second-highest market share during the forecast period.
North America accommodates various technological innovations due to the fast adoption of new and advanced technologies.America witnessed the earliest adoption of smartphone technology and other mobile devices, which has been significantly responsive to the adoption of video content management system solutions.
Video content production is the highest in the region; therefore, it creates significant opportunities for video content management system solutions providers . APAC and MEA are also expected to witness high growth rates during the forecast period.
The break-up of the profiles of primary participants in the global video content management system market is as follows:
• By Company: Tier 1–48%, Tier 2–37%, and Tier 3–15%
• By Designation: C-Level Executives–40%, Manager Level–33%, and Executives–26%
• By Region: North America–42%, Europe–31%, APAC–16%, and RoW-11%
Video content manangement system report show cases major providers, such as IBM(US), Vimeo(US), Microsoft(US), BrightCove(US), Panopto(US), Kaltura(US), Sonic Foundry(US), Kollective(US), Vidyard(US), Cloudapp(US), Haivision(US), Dalet Digital Media Systems(France), MediaPlatform(US), Poly(US), Qumu(US), Vidizmo(US), VBrick(US), Telestream(US), Dacast(US), JW Player(US), Renderforest(Armenia), BigCommand(US), Genus Technologies(US), and Boxcast(US). The study includes an in-depth competitive analysis of key players in the video content management system market market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
The report segments the global video content management system market by application into five categories: education and learning, enterprise communications, marketing and client engagement, recruitment and training, and virtual events.By component, the market is segmented into: platform and services. By deployment mode, the market is segmented into two categories: on-premises and cloud. By vertical, the Video content management system market has been classified into banking, financial services and insurance (BFSI); healthcare and life sciences; IT and telecom; retail and ecommerce; education; media and entertainment; telecommunication; and others. By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.
Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall video content management system market and the subsegments.This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, opportunities, and COVID-19 impact.
Read the full report: https://www.reportlinker.com/p06131701/?utm_source=GNW
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