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Enterprise Streaming Media Market Size, Trends & Forecast 2024-2033
Enterprise Streaming Media Market Size
According to The Business Research Company's, The enterprise streaming media market size has grown rapidly in recent years. It will grow from $34.9 billion in 2023 to $41.35 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to corporate training and communication, rise of remote work, globalization of businesses, increased mobile workforce, shift to cloud-based solutions.
The enterprise streaming media market size is expected to see rapid growth in the next few years. It will grow to $81.75 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to hybrid work models, enhanced security measures, integration of artificial intelligence (ai), virtual and augmented reality (vr/ar) integration, rise of webcasting and virtual events. Major trends in the forecast period include rise of hybrid and multi-cloud deployments, focus on low-latency streaming, integration of artificial intelligence (ai) and machine learning (ml), security enhancements and content protection, enterprise video conferencing integration.
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Market Drivers and Trends:
The increasing use of video conferencing solutions is expected to propel the growth of the enterprise streaming media market going forward. Video conferencing is a live video-based meeting between two or more people in different locations that allows multiple people to meet and collaborate face to face long distance by transmitting audio, video, text, and presentations in real-time through the internet. Enterprise streaming media is used in video conferencing to manage video content and video communications for a larger business or organization, which enables them to reach out to potential and existing clients outside of the business or organization. For instance, in January 2022, according to Microsoft Corporation, a US-based technology corporation, Microsoft Teams monthly active users witnessed substantial growth, increasing from 250 million in July 2021 to 270 million by January 2022. Therefore, the increasing use of video conferencing is driving the growth of the enterprise streaming media market.
Product innovation is a key trend gaining popularity in the enterprise streaming media market. Major companies operating in the enterprise streaming media market are focused on developing innovative solutions to strengthen their position in the market. For instance, in February 2023, Brightcove Inc, a US-based software company that produces an online video platform, introduced Brightcove Communications Studio, a video streaming solution developed to assist HR and communications professionals in developing stronger relationships and engaging with internal stakeholders. Brightcove Communications Studio is a branded and seamless solution for reaching and engaging stakeholders both internally and externally. Communications Studio delivers a consumer-centric streaming experience for stakeholders to overcome common internal communications concerns, from onboarding workers to disseminating company-wide updates and training.
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Major Key Players of the Market:
Haivision Inc.; Adobe Inc.; AVI-SPL Inc.; Cisco Systems Inc.; Microsoft Corporation; Spirent Communications plc.; International Business Machines Corporation; Alphabet Inc.; Amazon.com Inc.; Tencent Holdings Ltd.; Kaltura; Vidyard; Poly Inc.; Cloudfare Inc.; Cincopa LTD; Akamai Technologies; Brightcove Inc.; Dacast Inc.; Limelight Networks; MediaPlatform; Brightcove; Panopto; Qumu Corporation; Ramp; RealNetworks Inc.; Sonic Foundry Inc.; MediaKind; Telestream; IBM; VBrick; Verizon Communications Inc.; Vewd Software AS; Vimeo Inc.; Wowza Media Systems; Zixi; Zype Inc.; JW Player; Wistia
Enterprise Streaming Media Market 2024 Key Insights:
• The enterprise streaming media market will grow to $81.75 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%.
• Rising Adoption Of Video Conferencing To Drive Market Growth
• Product Innovations Transforming The Enterprise Streaming Media Market
• North America was the dominate region in the enterprise streaming media market in 2023
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