The Video Streaming Software Market Is Estimated To Witness High...

The Video Streaming Software Market Is Estimated To Witness High Growth Owing To Growing Demand For Video On-Demand Services

Veröffentlicht 2023-12-14 14:48:09

The video streaming software market is estimated to be valued at US$ 10.55 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Video streaming software is used for live and on-demand streaming of audio and video over the internet. Various organizations utilize video streaming software for broadcasting corporate videos, seminars, webinars, breaking news, and product launches. Video streaming helps in enhancing internal communication, educating and training employees, increasing customer engagement, and expanding consumer reach. Major applications of video streaming software include video-on-demand, live streaming, video platforms, and video content management.

Market Dynamics:
Growing demand for video on-demand services is expected to drive growth of the video streaming software market during the forecast period. Rapid advancement of 5G technology and increasing penetration of smart devices are some other factors expected to support the market growth. With 5G technology, video quality and bandwidth will improve considerably, further augmenting adoption of video streaming solutions. Also, proliferation of smarphtones, tablets, and smart TVs has increased video consumption on mobile and OTT platforms. However, lack of high-speed internet connectivity in underdeveloped regions may hamper market growth. Growing momentum of live video streaming among millennials is projected to create lucrative opportunities for market players.

SWOT Analysis

Strength: Video streaming software allows live or on-demand streaming over the internet. It has high scalability and can support large number of simultaneous viewers. It offers customizable features like analytics, captions, playback etc. It provides flexibility to reach global audience.

Weakness: Live streaming requires high bandwidth which can be expensive. Encoding videos require high computing power which increases costs. Setting up complex broadcasting needs technical skills. Video quality depends on end user's internet speed.

Opportunity: Increased smartphone and internet penetration driving the demand. Growing interest in video content across industries like education, corporate, healthcare boosts growth. Cloud technology lowers infrastructure costs.

Threats: Free or open source video solutions can disrupt pricing. Regulations around live content rights differ globally. Stiff competition from social media platforms and user-generated content sites. Cyberthreats and privacy concerns over data security.

Key Takeaways

The global Video Streaming Software Market Share is expected to witness high growth, exhibiting CAGR of 19% over the forecast period, due to increasing video consumption across industries. Educational institutions are increasingly adopting video streaming tools for e-learning.

Regional analysis- North America dominated over 40% share of the global market in 2023 due to high adoption of video content and technological advancements. Asia Pacific is expected to grow at the fastest pace owing to growing internet and smartphone penetration in emerging nations like India and China.

Key players operating in the video streaming software market are IBM Corporation, Haivision, Brightcove, Qumu, Kaltura, Sonic Foundry, Vimeo, SprountVideo, VBrick, MediaPlatform, Dacast, Agile Content, and Wowza, and Panopto. They are focusing on product innovations, partnerships for distribution and leverage advanced technologies like AI and cloud for better user experience. The market is fragmented with presence of both international and domestic players.