Press release
Video Streaming Software Market to See Stunning Growth by 2030 |
Video Streaming Software Market
The Video Streaming Software Market will be worth USD 9.57 billion by 2030, growing at an 18% CAGR.
The term "video streaming" describes a technological method for transferring video files with the aid of special software. Video streaming, to put it simply, is a way to watch videos without downloading the media file. Recent years have seen a considerable increase in the use of video streaming software because of advancing technology and the spread of high-speed internet. Various industries, including those in education, entertainment, sports, government, media, BFSI, retail, transportation, energy and utilities, gas and petroleum, and chemicals, use video streaming software.
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Key Players: -
• IBM (US)
• Agile content (US)
• Brightcove (US)
• MediaPlatform (US)
• Kaltura (US)
• Sonic Foundry (US)
• Qumu (US)
• Panopto (US)
• Vimeo (US)
• SproutVideo (US)
• Wowza (US)
• Haivision (Canada) and
• VBrick (US).
The market is expected to develop in the next years as a result of rising demand for on-demand and online video streaming services as well as rising adoption of digital platforms in corporate training programs. Innovative technologies like artificial intelligence and augmented reality tools are increasingly being incorporated into video streaming software to enhance video streaming networks and offer cutting-edge platforms for team collaborations and content management in businesses.
Positive effects of the epidemic have been seen in the video streaming software market. Given that most individuals are remaining at home, mandatory containment measures and health safety compliances have increased VoD and OTT subscriptions. In addition, numerous offices have closed as a result of sudden interruptions in supply chains across verticals and containment measures, while the majority of businesses have chosen the "work-from-home program."
Market Segmentation
● By Component
The market can be further split into solutions and services based on the components. The solution sub-segment is anticipated to grow from $2,556.2 million in 2019 to have a significant market share and produce revenue. The widespread use of solution components by broadcasters, network providers, and other business verticals is credited with this increase.
● By Streaming Type
The market can be further split into solutions and services based on the components. The solution sub-segment is anticipated to grow from $2,556.2 million in 2019 to have a significant market share and produce revenue. Due to the expanding usage of digital platforms for online learning and remote working, the live streaming sub-segment of the worldwide video streaming software market is predicted to have a sizable market share and generate $11,175.3 million during the forecast period.
Regional Classification
The region leads the Asia-Pacific market for video streaming software, which typically holds the largest market share. The rising demand for live streaming and related activities is what accounts for the region's supremacy. Both North America and Europe anticipate significant market expansion. Because these locations have already attained a mature level in such technology and will now grow more slowly than the regions continuing in development and anticipating higher Market Growth, the shift in these regions may be a little slower than in Asia-Pacific.
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Industry News
For its video streaming and enterprise video platforms, IBM unveiled a replacement video functionality in March 2021. This enables businesses to replace outdated videos with more recent ones without worrying about how to handle URL connections or situations where the video was embedded.
Brightcove introduced Brightcove Cloud Playout in February 2021, enhancing its end-to-end video platform and making it one of the few online video providers to do so.
Haivision released Haivision Connect, a brand-new cloud platform created just for churches, in October 2021. The live streaming option gives churches additional opportunities to connect and interact with audiences conveniently from any location.
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