Dublin, Jan. 22, 2021 (GLOBE NEWSWIRE) -- The "Video Streaming Software Market by Component (Solutions and Services), Streaming Type (Live Streaming and Video on Demand Streaming), Deployment Type (Cloud and On-premises), Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global video streaming software market is expected to grow from USD 6.1 billion in 2020 to USD 15 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period.
The major factors driving the growth of the video streaming software market include increasing penetration of mobile devices and internet users, and growing demand for VoD streaming, impact of COVID-19 pandemic and growing need for transcoding to deliver videos to maximum end users.
Video Analytics segment to grow at the highest CAGR during the forecast period
Online streaming services are increasingly providing users with a convenient way to consume VoD. Video analytics is gaining importance among service providers that wish to remain competitive and better understand their audiences and, thus, serve them better. By identifying what keeps viewers engaged, a video analytics solution can help in not only building and maintaining an audience but also developing new sources of revenue. The data collected through analytics provides insights into how users consume media and what they expect from an online video platform.
Video analytics benefits users by improving performance through the assessment of key performance metrics, including startup time, bitrate, rebuffering, and dropped frames, and media analytics. This shows whether customers are obtaining a glitch-free viewing experience or not. Video analytics provides data that is needed to enhance and customize the user experience with targeted programming or improved features, thus increasing audience satisfaction and attracting new customers.
Live streaming segment to record the fastest growth rate during the forecast period
Live streaming delivers the content with the right quality content to any and every device over any network across the globe. Live streaming offers the user a direct conversation with the target audience. This makes the audience feel more connected to a particular brand. With the emergence of mobile devices, laptops, and tablets, there is an increased use of these devices for video streaming. This has raised the demand for live video streaming solutions.
The growing demand for live video streaming solutions is expected to create new opportunities for solution providers to engage their customers by providing HD video services. Further, live video streaming solutions also help in increasing the number of viewers and customer loyalty. Live video streaming can be deployed both on-premises and in the cloud to facilitate superior management of video content.
North America to account for the largest market share during the forecast period
The North America region for this study includes the US and Canada. North America witnessed the earliest adoption of the cloud and mobile technologies, which has been significantly responsive to the adoption of video streaming services. Advancements in BYOD, Machine-to-Machine (M2M), and mobile and cloud technologies are the major factors that have led to improved efficiency of business processes. Hence, to derive benefits from these technologies, large enterprises are adopting video streaming solutions rapidly to enhance the overall employee experience and tackle business continuity challenges amid the lockdown.
North America is projected to encourage market growth, as large enterprises and SMEs are focused on developing innovative video streaming solutions, which are integrated with technological advancements, such as video analytics, AI, and Machine Learning (ML). North America also witnesses the early adoption of cloud and mobility technologies and has an advanced IT infrastructure, which reduces operational expenditure through various advancements in technologies across various verticals. Currently, North America is the largest contributor in terms of revenue, as compared to the other regions.
The market study covers the video streaming software market across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as component (solutions and services), solution type (transcoding and processing, video management, video distribution, video analytics, video security, and others), streaming type (Live and Video-On-Demand), verticals (Media and Entertainment, BFSI, Academia and Education, Healthcare, Government, and others) and regions (North America, Europe, APAC, MEA and Latin America).
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Some prominent players across all service types profiled in the video streaming software market study include IBM (US), Brightcove (US), Kaltura (US), Qumu (US), Panopto (US), Haivision (Canada), VBrick (US), Wowza (US), SproutVideo (US), Vimeo (US), Dacast (US), Sonic Foundry (US), MediaPlatform (US) and Agile content (US).
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
High Content Creation Cost and the Threat of Content Piracy
Growing Preference for Online Streaming Services Over Traditional TV
Optimization of Network Bandwidth
Growing Threat of Video Content Security and Privacy
Case Study Analysis
COVID-19 Impact: Video Streaming Software Market
Ramp Holdings Inc.
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