New York, USA, May 26, 2021 (GLOBE NEWSWIRE) -- A latest report on the global video streaming software market has been added by Research Dive to its offerings. As per the report, the market is projected to hit $19,537.1 million and rise with a remarkable CAGR of 20.4% from 2020 to 2027. The report offers an all-inclusive lookout of the present scenario and future scope of the global industry. The report is drafted by expert market analysts and guarantees to be a trustworthy source of data and all-inclusive market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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COVID-19 Impact on the Market Growth:
The rise of the COVID-19 pandemic in 2020 made a positive impact on the growth of the market. During the pandemic, the usage of video conferencing and collaboration platforms, such as cloud platforms, social media, Zoom, educational portals, and gaming as well as streaming media have significantly surged. Moreover, leading players are taking up several initiatives, such as product enhancements, new product launches, and introduction of new technologies to obtain a significant position in the global market. All these factors are boosting the market growth amidst the pandemic period.
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Factors Impacting the Market Growth:
Growing demand for cloud-based and on-demand video streaming services are boosting the growth of the global video streaming software market. Moreover, integration of advanced technologies like augmented reality tools and artificial intelligence into video streaming software to enhance video streaming networks and offer advanced platforms for team meetings and content management in organizations are anticipated to unlock profitable opportunities for the market growth during the forecast period. However, network connectivity problems for online video streaming particularly in developing nations due to absence of high-speed internet facilities is anticipated to obstruct the market growth.
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The report segments the global video streaming software market into component, streaming type, deployment type, end use industry, and region.
Solution Video Streaming Software Sub-Segment to Dominate the Market Growth
Among the component segment, the solution video streaming software sub-segment is expected to lead the market growth and exceed $2,556.2 million during the forecast period. The growth of this sub-segment is mainly because of the significant rise in the usage of solution component by various industries, network providers, and broadcasters owing to several benefits of solution component in content delivery network (CDN) to provide better-quality video streaming to users.
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Live Streaming Sub-Segment to Witness Speedy Growth
Among the streaming type segment, the live streaming sub-segment is projected to hold a leading market share and gather $11,175.3 million during the forecast period. The growth of this sub-segment is mainly because of the growing demand for remote working, collaborations, and online learning as they have numerous benefits such as analytics tracking, ease & convenience, broader audience potential, rich content delivery, and many more.
On-Premise Sub-Segment to Grab Major Market Share
Among the deployment type segment, the on-premise sub-segment is expected to grow significantly and garner $10,046.4 million during the forecast period. The growth of this sub-segment is mostly because on-premise deployment method offers complete control over video streaming platform and its infrastructure.
Media and Entertainment Video Streaming Software Sub-Segment to Grab Major Market Share
Among the end use industry segment, the media and entertainment video streaming software sub-segment is expected to grow with a CAGR of 20.3% during the forecast period. The growth of this sub-segment is mostly because of the growing usage of video streaming platforms in media & entertainment industry for advertising and promotions to create awareness about their products.
Asia-Pacific Region to Hold Major Market Share
The report analyzes the global video streaming software market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is expected to grow significantly and garner $3,848.8 million during the estimated period. The growth of this region market is mainly owing to the growing demand for on-demand and live video streaming platforms by customers and enterprises in this region.
Major Players in the Market:
1. VBrick
2. Qumu Corporation
3. Sonic Foundry
4. Brightcove Inc.
5. Plantronics Inc.
6. Akamai Technologies
7. Haivisio
8. IBM
9. Limelight Networks
10. Kaltura Inc.
For instance, in May 2021, Amazon.com, Inc., an American multinational technology company, launched a new video streaming service, named miniTV. This service provides users “professionally” created and curated content over comedy shows, web series, technology news, food, fashion, beauty, and more.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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