Richmond, Dec. 15, 2023 (GLOBE NEWSWIRE) -- According to a research report "Video Streaming Software Market, by Component (Solutions (Transcoding & Processing, Video Management Software, Video Distribution, Video Analytics, Video Security, Other Solutions), Services (Managed Services, Professional Services)), Streaming Type (Live Streaming, Video-on-Demand Streaming), Deployment Mode (On-Premise and Cloud-based), Industry (Media and Entertainment, BFSI, Education Healthcare, Government, Other Verticals), and Region
Global Video Streaming Software Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 10.5 Billion |
| Market size value in 2030 | USD 34.5 Billion |
| CAGR (2023-2030) | 18.50% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Component, Services, Streaming Type, Deployment Mode and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Video Streaming Software Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
Market Overview
Video streaming software enables the delivery and playback of video content over the internet. It includes platforms like Netflix, YouTube, and others, offering real-time access to on-demand videos, live streams, and personalized content experiences. The video streaming software market is a dynamic sector driven by the escalating demand for on-demand multimedia content across the globe. As high-speed internet connectivity becomes pervasive and mobile devices proliferate, consumers increasingly turn to platforms like Netflix, Hulu, and Amazon Prime Video for diverse and personalized entertainment experiences. This market's robust growth is fueled by the convergence of technology and content consumption habits. The video streaming software market is witnessing exponential expansion, with key players continually innovating to enhance user experiences. Live streaming, virtual reality integration, and content personalization have become pivotal features as companies vie for a larger market share. The competitive landscape fosters strategic partnerships, content acquisition, and technological advancements. As more households cut traditional cable connections in favor of online streaming, the market's global reach expands, making it a critical domain for both established industry leaders and emerging entrants.
Major vendors in the global Video Streaming Software Market –
- (Poly) Plantronics, Inc.
- Amazon Prime Video
- Brightcove Inc.
- Cloudinary
- Dacast
- Disney Plus
- Haivision
- Hulu
- IBM
- Kaltura Inc.
- Kollective Technology, Inc.
- Netflix
- OBS
- Ooyala, Inc.
- Panopto
- Sonic Foundry
- Vbrick
- VUALTO
- Wowza Media Systems, LLC
- YouTube TV
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Rising concerns related to data privacy
Advancements in Artificial Intelligence (AI) serve as a significant driver for the Video Streaming Software Market. AI technologies are instrumental in enhancing user experiences by enabling content personalization, recommendation algorithms, and efficient video compression. Machine learning algorithms analyze user preferences, viewing habits, and engagement data to deliver tailored content suggestions, leading to increased viewer satisfaction and retention. Additionally, AI-powered features contribute to content discovery, allowing streaming platforms to offer more relevant and engaging content. As the video streaming industry continues to evolve, the integration of AI not only optimizes operational efficiency but also plays a pivotal role in shaping the future of content delivery, making the viewing experience more intelligent, intuitive, and enjoyable for audiences worldwide.
Market Dynamics
Drivers:
- Advancements in Artificial intelligence (AI)
- The Increasing Penetration of Internet and Smartphones
Opportunities:
- Surge in Demand for Multi-screen Video-on-demand Applications
- Growing preferences for online streaming services over traditional TV
Surge in Demand for Multi-screen Video-on-demand Applications
The surge in demand for multi-screen Video-on-Demand (VOD) applications presents a significant opportunity for the Video Streaming Software Market. With consumers increasingly seeking flexibility and convenience in their content consumption, multi-screen VOD applications cater to this trend by allowing users to access video content seamlessly across various devices such as smartphones, tablets, smart TVs, and computers. This demand is fueled by the desire for on-the-go viewing and a personalized, cross-device experience. Video streaming software providers can capitalize on this trend by developing and optimizing their platforms for multi-screen compatibility, enhancing user engagement, and tapping into a broader audience base. As the market continues to evolve, aligning with the growing preference for multi-screen experiences positions companies to meet the dynamic needs of modern consumers, ultimately driving the expansion and innovation within the video streaming software industry.
The market for Video Streaming Software is dominated by North America.
In 2023, North America is anticipated to assert dominance in the video streaming software market. The region's preeminence is attributed to several factors, including widespread high-speed internet infrastructure, a tech-savvy consumer base, and the presence of major industry players. The United States and Canada, in particular, boast a robust digital ecosystem that fosters the growth of video streaming services. Furthermore, a surge in online content consumption, coupled with an increasing trend of cord-cutting, has accelerated the adoption of video streaming platforms. North America's market leadership is also buoyed by continuous technological advancements and innovations in the field, as companies strive to provide cutting-edge features and content to retain and attract users. As the appetite for on-demand content and live streaming continues to rise, North America remains at the forefront, driving the evolution and expansion of the global video streaming software market.
The healthcare Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on Industry the Video Streaming Software market is segmented into media and entertainment, bfsi, education healthcare, government, other end-use industry. The healthcare industry is emerging as a dominant segment in the video streaming software market, leveraging technology to transform various aspects of patient care, training, and communication. Video streaming software is increasingly employed for telemedicine services, enabling healthcare providers to conduct virtual consultations, share medical information, and facilitate remote monitoring. The demand for medical training and education has also fueled the adoption of video streaming platforms, allowing professionals to access and share instructional content, surgeries, and research findings. Moreover, the healthcare sector utilizes video streaming for internal communications, conferences, and collaborative initiatives, enhancing collaboration among medical professionals. The COVID-19 pandemic has accelerated the integration of video streaming in healthcare, facilitating patient engagement and ensuring seamless communication between healthcare providers. As healthcare organizations continue to prioritize digital transformation, the video streaming software market is witnessing significant growth in this sector, contributing to improved patient care and medical education.
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