Video Streaming Software Market Is Estimated To Witness High Growth Owing To Scalability
The global Video streaming software Market is estimated to be valued at US$ 3.21 Bn in 2024 and is expected to exhibit a CAGR of 46% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Video streaming software provides video content at scale in real time to viewers worldwide. It allows customers to live stream and broadcast live events remotely to large online audiences. The software enhances viewer experience through features like chapter marking, video quality options and subtitles.
Weakness: Video streaming requires high-speed consistent internet which may not be available everywhere. Live streaming exposes content to privacy and security risks if not managed properly. Encoding and transcoding live streams into different formats increases hardware costs.
Opportunity: Growing popularity of OTT platforms is spurring demand for live streaming services. Video streaming platforms are partnering with telecom operators for wide reach. Adoption of 5G networks will improve video streaming quality and user experience. Rising mobile users in developing regions present new customer segments.
Threats: Changing viewer preferences towards short-form watch-worthy clips pose threat to long-form streaming. Rise of free hosting platforms increases competition. Data regulations and privacy laws impose new compliance challenges.
Key Takeaways
The Global Video Streaming Software Market Growth is expected to witness high. Growing internet penetration and widespread usage of smartphones is driving the market.
Regional analysis related content comprises- North America accounts for the largest share of the market currently due to high-speed internet infrastructure and presence of major players. Asia Pacific is poised to grow at the fastest pace during the forecast period. Countries like India, China and Japan are digitalizing rapidly which is increasing adoption of video streaming platforms for edutainment and business communications.
Key players operating in the video streaming software market are Facebook, Inc. (Meta Platforms Inc), IBM Corporation, Integrate.ai Inc., Google LLC (Alphabet Inc.), H2O.ai, Inc., SAP SE, SAS Institute Inc., Microsoft Corporation, Pymetrics Inc., and FICO Inc. They are focusing on developing advanced AI capabilities for live captioning, video recommendations and personalized streaming experiences.
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