New York, USA, Sept. 20, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global video streaming software market is anticipated to rise at a stable CAGR of 20.4%, thereby garnering a revenue of $19,537.1 million by 2027. This comprehensive Research Dive report presents a brief outlook of the current framework of the video streaming software market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2020-2027. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Video Streaming Software Market
Drivers: Growing demand for on-demand video streaming services such as Hotstar, Netflix, Prime Video, etc. is predicted to be the primary growth driver of the video streaming software market in the forecast period. Additionally, increased use of digital platforms in corporate training programs is expected to further push the market forward.
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Opportunities: Growing incorporation of innovative technologies such as Artificial Intelligence and augmented reality is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rise in demand for cloud-based services is anticipated to augment the growth rate of the market.
Restraints: However, network connectivity problems may restrict the growth of the video streaming software market in forecast period.
Impact of Covid-19 on the Video Streaming Software Market
The novel coronavirus pandemic and the resulting lockdowns impacted the video streaming software market in a positive way. Due to the lockdowns and travel restrictions, majority of the organizations, both private and government, shifted to a remote work culture wherein meetings and conferences were held through online video conferencing platforms such as Zoom. Also, various online educational platforms, gaming portals, and video streaming services such as Netflix faced huge increase in subscriptions which further helped the market to register a substantial growth in pandemic period.
Segments of the Video Streaming Software Market
The report has fragmented the video streaming software market into segments based on component, streaming type, deployment type, vertical, and region.
Component: Solution Sub-segment to be the Most Lucrative
By component, the solution sub-segment accounted for $2,556.2 million in 2019 and is expected to continue having the largest market share by 2027. Wide usage of solution component by the industry verticals such as network providers and broadcasters is anticipated to help in the growth of this sub-segment.
Streaming Type: Live Streaming Sub-segment to be the Most Profitable
By streaming type, the live streaming sub-segment of the video streaming software market is expected to have the highest market share and is projected to garner $11,175.3 million by 2027. Rising demand for remote working and online learning, due to various advantages such as convenience and richer content use, is predicted to be the primary growth driver of the sub-segment in the forecast period.
Deployment Type: On Premise Sub-segment to Witness Significant Growth
By deployment type, the on premise sub-segment is expected to generate maximum revenue and register $10,046.4 million by 2027. The complete control offered by on premise deployment mode over enterprise content streaming platform and infrastructure is anticipated to offer numerous growth opportunities to the sub-segment in the forecast period.
Vertical: Media and Entertainment Sub-segment to Grow Substantially
By vertical, the media and entertainment industry sub-segment is expected to be highly profitable and register a CAGR of 20.3% by 2027. The extensive utilization of video streaming platforms in media & entertainment industry is expected to augment the growth rate of the sub-segment in the 2020-2027 timeframe.
Region: Video Streaming Software Market in the Asia-Pacific Region to Grow Rapidly
By regional analysis, the video streaming software market in Asia-Pacific region is predicted to grow rapidly in the 2020-2027 timeframe and is expected to reach $3,848.8 million over the forecast period. Rising demand for on-demand and live video streaming platforms and growing infrastructure in the developing countries are expected to become two main growth drivers of the market in this region.
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Prominent Video Streaming Software Market Players
Some leading players in the video streaming software market are
- Qumu Corporation
- Limelight Networks
- Akamai Technologies
- Plantronics, Inc.
- Kaltura Inc.
- Brightcove Inc.
- Sonic Foundry
- IBM
- Vbrick
- Haivision, among others.
These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market. – Buy the Full Report Here Starting at $2999 (Read-Only)
For instance, in July 2021, Carlyle, a global investment firm, announced the acquisition of LiveU, a video streaming company. This acquisition is expected to increase the foothold of the acquiring company, i.e., Carlyle in the industry and subsequently increase its market share substantially in the coming period.
Finally, this comprehensive report also summarizes many crucial aspects of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Video Streaming Software Market:
- Video Streaming Software Market Propelling with Innovative Strategies
- A Quick Guide for Choosing the Best Video Streaming Software in 2020
