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 theincreasing 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.
New York, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Video Streaming Software Market with COVID-19 Impact, by Component, Streaming Type, Vertical And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05164675/?utm_source=GNW
These factors are driving the demand for video streaming software.
The COVID-19 Impact on the global video streaming software market
The impact of the COVID-19 pandemic on the market is covered throughout the report.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 at 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
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.
APAC to grow at the highest CAGR 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.
APAC is expected to grow at the higher CAGR during the forecast period.The region encompasses developed and developing economies, such as Australia, Singapore, China, India, New Zealand, and South Korea.
Developed countries in this region are expected to experience significant growth because of a greater technological infrastructure.Developing countries are gradually advancing toward using video streaming platforms to improve and streamline their business processes.
Densely populated countries, such as India and China, are now advancing progressively toward video streaming monetization models to improve and streamline their business processes. Additionally, the highly competitive environment in the region is expected to trigger the growth of video streaming software solutions and services that would augment the overall RoI for the media, entertainment, and education organizations. Various major players, such as Brightcove, IBM, and Qumu, are expanding their cloud businesses rapidly in the region due to the availability of high growth potential and a positive economic outlook.
• By Company: Tier 1–37%, Tier 2–27%, and Tier 3–36%
• By Designation: C-Level Executives–29%, Director Level–36%, and Others–35%
• By Region: North America–35%, Europe–24%, APAC–21%,and RoW-20%
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.
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 mode, 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.
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 streaming software 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.
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