Streaming Revolution: Video Streaming Software Market Surges, Forecasted to Reach $22.7B by 2028

The video streaming software market size has grown rapidly in recent years. It will grow from $9.29 billion in 2023 to $10.96 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to proliferation of high-speed Internet, rise of over-the-top (OTT) platforms, increased smartphone adoption, content digitization, global expansion of streaming services.

The video streaming software market size is expected to see rapid growth in the next few years. It will grow to $22.7 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to interactive and immersive content, global expansion of regional platforms, dynamic ad insertion, monetization strategies, social integration and interactive features. Major trends in the forecast period include cloud-based streaming solutions, multi-platform streaming, subscription model innovation, remote production and collaboration, integration of artificial intelligence (AI).

Market Overview -
Video streaming software allows people to see videos without having to download them. The continuous transmission of video files from a server to a client is referred to as video streaming. Movies, TV shows, YouTube videos, and live-streamed content are examples of video-streamed content.

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Rising Demand For Video On Demand (VOD) Streaming To Fuel Video Streaming Software Market
The growing demand for video-on-demand (VoD) streaming is expected to propel the growth of the video streaming software market going forward. The growth is driven by the emergence of VOD services such as Netflix, video communication platforms including Zoom, social platforms such TikTok, esports, and live streaming. For instance, in September 2023, according to Exploding Topics, a US-based software tool that uses artificial intelligence, the adoption of video streaming subscriptions in the United States has shown consistent growth, increasing to 83% in 2023, compared to 78% in 2021. Thus, the growing demand for VoD streaming will drive the growth of video streaming software.

Competitive Landscape -
Major companies operating in the video streaming software market report are Apple Inc., Agile Content, International Business Machines Corporation (IBM), Akamai Technologies Inc., Polycom Inc., Ramp Holdings Inc., Vimeo Livestream, Southern Cross Media Group Limited, Uscreen Inc., Brightcove Inc., Kaltura Inc., Haivision Systems Inc., JW Player, Ooyala Inc., Vidyard Inc., Qumu Inc., Panopto, Bitmovin AG, NCH Software Inc., Streamroot, Cincopa LLC, Livestream Inc., Resi, Wowza Media Systems LLC, TikTok Live, Mirillis Ltd., StreamShark, Zixi Software Inc., Limelight Networks Inc., 24live, Cloudinary Inc., Dacast, Dailymotion SAS, Flowplayer AB, GUDSHO, Instagram Live, MediaPlatform Inc., Muvi LLC, Mux Inc., Prismplus, Sonic Foundry, StreamForge Inc., Telestream LLC, Vbrick Rev, VideoHelix, Vidizmo Inc., VPlayed Inc., YouTube LLC

Technological Advancements Enhance Video Streaming Software Market
Technological advancement is a key trend gaining popularity in the video streaming software market. Video streaming software companies are introducing new technologies in their product offerings to improve the customer video streaming experience. For instance, in July 2021, Amazon, a US-based technology company, introduced a live streaming service for the web and mobile applications powered by Twitch's technology. Customers can set up and live stream videos through their website or mobile application using Amazon's Interactive Video Service (IVS). It allows content creators and developers to deliver a consistent, low-latency live streaming experience across several platforms and devices without sacrificing video quality or buffering.

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Key Segments -
The video streaming software market covered in this report is segmented -
1) By Streaming Type: Live Streaming, Video-On-Demand Streaming
2) By Component: Solutions, Services
3) By Deployment: Cloud, On-Premise
4) By Vertical: Media And Entertainment, BFSI, Academia And Education, Healthcare, Government, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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