Knowledge Sourcing Intelligence announces the publication of a new report on the Video Streaming Software Market from 2019 to 2026 to their offering.
As per the report, the Video Streaming Software market is expected to reach US$10,488.083 million by 2026, from US$4,080.814 million in 2019.
Video streaming software is defined as software which is specifically designed to transfer video files to the customers using video streaming technique via the internet. The videos used in the enterprises have become prominent due to the necessity of communication and effective delivery of the information. The market of video streaming software is getting popular due to its offering of on-demand videos and cloud-based services. The video streaming software market uses software such as video analytics, video management, transcoding & processing, and video security to deliver videos over the internet, for the live audience and corporate internet communications. The availability of faster internet services, the rising existence of cloud-based advancement, the preference for videos over written documents, and the surge in the adoption of artificial intelligence are enhancing the market growth of the video streaming software market.
Additionally, the surge in the demand for video streaming software services across several software such as corporates with the purpose of training is leading to positive impact on the growth of the video streaming software market. Video is a crucial element for the corporate communications that not only reduce the employee training cost but also boosts the efficiency of the corporate communications. The expansion of the video streaming software market can also be accredited to rising attention of the organization regarding digital media marketing and increase in the adoption of video streaming software services by the large organizations. The market is accelerating. Video streaming works on data streaming technique where video files are compressed and is transferred in large file to the requesting device. Consumers do not wait to download before playing it but software prevents this process and enables the consumers to view real-time content, network-wide content. Video streaming software services such as Hulu, YouTube and Netflix are gaining much popularity.
The outbreak of covid-19 pandemic played a huge role in boosting the market growth as the number of consumers watching online video streaming increased amidst pandemic. According to the Office of Communications, the United Kingdom, the adults which were stuck inside their houses in the lockdown during the pandemic, 40% of them spent their waking hours in front of a screen. OTT platform such as Amazon Prime, Netflix and Hotstar became highly in demand which positively impacted the market and contributing to the growth of the market. Further, the usage of video conferencing using platforms such as Zoom and Google Meet and long-lasting impact on the preference of the consumers is further expected to augment the market during the forecasted period.
Video streaming software is segmented on the basis of solution as Transcoding and Processing, Video Management, Video Delivery and Distribution, Video Security, Video Analytics and Others. Transcoding and processing segment of the video streaming software market holds the largest market share. While, video analytics is expected to grow at the highest rate during the forecasted period.
Video streaming software is segmented on the basis of services as Professional Services and Managed Services.
By streaming type, the market of video streaming type is segmented as Live Streaming and Video-on-Demand Streaming. On-demand video streaming is witnessing huge boost in the demand over recent year globally. Major TV media companies have entered the market. For instance, Twitch launched its own video streaming software in August 2019.
Video streaming software is segmented on the basis of Deployment as On-Premise and Cloud
Video streaming software is segmented on the basis of Vertical as Media and Entertainment, BFSI, Education, Healthcare, Government and Others.
The high cost of content creation, network connectivity, technical difficulties during video streaming, and concerns regarding online security and cost-effectiveness is restraining the market growth of the video streaming software market. Innovative inventions such as augmented reality and artificial intelligence by the companies will open up several opportunities in the market. Market Drivers of the video streaming software include surging demand for online videos and on-demand streaming and growing need for transcoding to deliver videos to maximum end-users.
Video streaming software market on the basis of region is segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa. North America region holds the major share with USA and Canada leading the region. The rising enhancement of technology with growing adoption of artificial intelligence and well-established infrastructure is boosting the market growth of Video streaming software in the region. Further the rising adoption of social media is acting as the primary driving factor of the video streaming software market in the region.
Asia Pacific region is witnessing the fastest growth during the forecasted period majorly due to the digital transformation, high-speed internet connectivity, and proliferation of smart devices. Further, the rise in the number of smartphones is positively impacting the market. For example, according to India Cellular and Electronics Association (ICEA) report, India witnessed a 14.5% growth rate in the smartphone market in 2018 with 142.5 million units shipped. Further according to the report, the country is expected to have 829 million smartphone users by 2022.
As a part of the report, the major players operating in the canned food market, which have been covered are Amazon.com, Inc, Wowza Media Systems, LLC, Kollective Technology, Inc, Ooyala, Inc, Haivision, Qumu Corporation, IBM, Kaltura, Inc, Panopto, Brightcove Inc and Vbrick.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/video-streaming-software-market
This report segmented the video streaming software market on the basis following terms