CHICAGO, May 9, 2023 /PRNewswire/ -- With continuing growth anticipated in the upcoming years, the market for video streaming software has a promising future. However, the market is probably going to get more crowded and competitive, so businesses will need to innovate and set themselves apart in order to succeed.
The global Video Streaming Software Market size is expected to grow from USD 11.0 billion in 2023 to USD 25.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.3% during the forecast period, according to a new report by MarketsandMarkets. The growing need for transcoding to deliver videos to maximum end users, increase in demand for high-quality videos, surge in demand for multiscreen have driven the market growth.
Browse in-depth TOC on "Video Streaming Software Market"
373 - Tables
69 - Figures
334 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Million/Billion(USD) |
Segments Covered | Component, Deployment Mode, Streaming Type, Monetization Model, Delivery Channel, and Vertical |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies Covered | Some of the major vendors offering video streaming software across the globe include IBM (US), Kaltura (US), Panopto (US), Brightcove, (US), Haivision (US), Vimeo (US), VBrick (US), Qumu (US), Sonic Foundry (US), Agile Content (Spain), MediaPlatform (US), Akamai (US), Edgio (US), Dailymotion (France), and more. |
Over-The-Top (OTT) to capture a large market share during the forecast period
The Video Streaming Software Market, by delivery channel, include es Pay-TV, Internet Protocol TV (IPTV), and Over-The-Top (OTT). The Over-The-Top (OTT) is projected to lead the market as have become increasingly popular in recent years, as more consumers turn to streaming services for their entertainment needs. The growth of OTT has led to a shift in the media landscape, with traditional broadcasters and cable providers struggling to keep up with the demands of viewers who want to access content on their own terms. OTT services are accessed through a wide range of devices, including smart TVs, smartphones, tablets, and gaming consoles, making it a flexible and convenient way for viewers to access content. Examples of popular OTT services include Netflix, Hulu, Amazon Prime Video, Disney+, and YouTube. One of the key advantages of OTT delivery channels is that they allow content providers to reach a global audience without the need for costly infrastructure, such as satellite or cable networks. This has led to a proliferation of niche content providers and increased competition in the media landscape.
Subscription-based monetization model to capture a large market share during forecast period
The Video Streaming Software Market has been segmented on the basis of monetization model into subscription-based, advertising-based, and transaction-based. A monetization model is a business strategy that outlines how a company will generate revenue from its products or services. It describes the specific ways in which a company plans to make money, and often includes details about pricing, distribution channels, and target markets. The Subscription-based is projected to lead the market as this model provides businesses with a direct line of revenue from consumers without having to consult or sell to advertisers. Subscription pricing strategies can be made according to functionality, discounted to motivate bulk purchases, metered according to usage levels, or optimized to reward loyalty. A subscription-based monetization model in video streaming involves charging users a recurring fee for access to a platform's content. The subscription fee is typically charged on a monthly or yearly basis and gives users unlimited access to the platform's content library. Users can stream videos, movies, TV shows, and other types of content on-demand without any additional fees. The subscription-based model provides a predictable source of revenue for video streaming services and encourages them to invest in creating high-quality content to attract and retain subscribers.
North America segment to capture a large market share during the forecast period
The Video Streaming Software Market has been segmented by region into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. As per region, North America is estimated to account for the largest market share in the global Video Streaming Software Market in 2023, and this trend is expected to continue during the forecast period. North America is the region with the most established video streaming software adoption due to a number of factors, including the existence of large enterprises with sophisticated IT infrastructure and the availability of technical expertise. North America is expected to encourage market growth, as large enterprises and SMEs focus on developing innovative video streaming solutions integrated with technological advancements, such as video analytics, AI, and ML. North America's two largest contributors to the Video Streaming Software Market are the US and Canada. The trend is expected to persist during the forecasting period. It is a region with strict regulations for a number of economic sectors and advanced technology.
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Video Streaming Software Market Dynamics
Driver:
- Increasing penetration of mobile devices and internet users
- Growing demand for VoD streaming
- Technological advancements in digital media industry
- Growing need for transcoding to deliver videos to maximum end users
- Increase in demand for high-quality videos
- Advancement in AI to foster demand for video streaming software
Restraint:
- High content creation cost and threat of content piracy
- Network connectivity and infrastructure issues
Opportunities:
- Growing preference for online streaming services over traditional TV
- Optimization of network bandwidth
- Growth in demand for real-time video services
- Emergence of 6G technology to boost video streaming software growth
Challenges:
- Growing threat of video content security and privacy
- Poor internet speed to reduce quality of service
- Concerns related to compatibility
Top Key Companies in Video Streaming Software Market:
Some of the major vendors offering video streaming software across the globe include IBM (US), Kaltura (US), Panopto (US), Brightcove, (US), Haivision (US), Vimeo (US), VBrick (US), Qumu (US), Sonic Foundry (US), Agile Content (Spain), and Akamai (US).
Recent Developments:
- In April 2023, Akamai Technologies announced new cloud computing capabilities for streaming video at the 2023 NAB Show. The capabilities are designed to help OTT operators deliver higher quality and more personalized video experiences to viewers. They can also help operators realize lower, more predictable operational costs and improve efforts to monetize content. Additionally, Akamai has also announced enhancements to its support of the Common Media Client Data (CMCD) specification and highlighted the latest members of its Qualified Computing Partner program.
- In March 2023, Brightcove has expanded its E-Commerce capabilities with new platform integrations with Shopify, Instagram, and Salesforce Sales Cloud to its video cloud platform. The integrations are designed to enable companies to reach, engage and activate audiences with immersive, interactive, and live and on-demand video content.
- In January 2023, IBM Watson Media has announced new event registration features added to IBM enterprise video streaming. These virtual event enhancements for registration form logic and improved editing make it easier and more efficient for users to manage their digital events. The enhancements include advanced form logic to control what fields are displayed for specific attendees as well as increased flexibility for editing a form once it's been published and there are active registrations.
- In December 2022, Vbrick has acquired Ramp Holdings, Inc., an enterprise content delivery network (eCDN) provider. Vbrick and Ramp are among the industry's leading eCDN providers, each offering multiple video distribution modalities to support a variety of network configurations, giving customers flexible options to meet any enterprise use case. The acquisition creates an unparalleled solution for delivering flawless live and on-demand video.
- In November 2022, Sonic Foundry has announced the launch of Video Solutions, a new business unit providing comprehensive video services to enterprise and events customers. Video Solutions incorporates many of the services previously offered under the umbrella of Sonic Foundry's Mediasite
Video Streaming Software Market Advantages
- Content producers may reach a worldwide audience without geographical restrictions thanks to video streaming software. As a result, they may interact with viewers from all over the world, which may raise interest in and awareness of their business.
- Video streaming software is typically more affordable than conventional broadcasting techniques. This is due to the fact that it requires minimal infrastructure and is simple to scale up or down.
- Content producers can transmit their work in a variety of formats, including live streaming, on-demand video, and stored content, thanks to video streaming software. Creators can experiment with new formats and methods because to this freedom, which also allows them to customize their material to the demands of their audience.
- Strong analytics and insights into viewer behavior, such as engagement rates, viewing durations, and viewer demographics, are provided by video streaming software. The creation of revenue can be optimized by using this data to enhance content and marketing initiatives.
Report Objectives
- To define, describe, and forecast the global Video Streaming Software Market based on component (solutions and services), streaming types, deployment modes, monetization models, delivery channels, verticals, and regions
- To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- To strategically analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
- To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze macro and micromarkets1 with respect to growth trends, prospects, and their contributions to the overall market
- To analyze industry trends, patents and innovations, and pricing data related to the Video Streaming Software Market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players
- To profile key players in the market and comprehensively analyze their market share/ranking and core competencies.
- To track and analyze competitive developments, such as mergers and acquisitions, new product developments, and partnerships and collaborations in the market.
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