by The global Video Streaming Software Market is estimated to be valued at US$ 10.55 Bn in 2023 and is expected to exhibit a CAGR of 19.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Video streaming software allows broadcasting live or on-demand streaming of audio and video content over the internet. It provides advantages like customization, scalability, and playback analytics. With the rising demand for OTT platforms and online videos, video streaming software solutions have become vital for organizations to deliver video content seamlessly.
Market key trends:
Improving internet infrastructure and rising adoption of mobile devices are expected to fuel the growth of the video streaming software market during the forecast period. With increasing internet speeds and availability of high-speed networks such as 4G and 5G, viewers are now able to stream high-definition videos on smartphones and laptops smoothly. According to a report, there were over 5 billion internet users globally in 2020 out of which around 3.8 billion had access to broadband internet. Video streaming software vendors are focusing on developing lightweight and adaptive streaming technologies to support video viewing across various devices and network conditions. This shift towards cross-platform delivery of streaming videos employing innovative video compression technologies is a major trend in the market.
SWOT Analysis
Strength: Video streaming software allows live and on-demand streaming over the internet, making content accessible globally. It provides flexibility to stream on multiple devices.
Weakness: High upfront costs involved in purchasing and implementing video streaming platforms. Reliability issues can emerge due to dependence on internet connectivity.
Opportunity: Growing penetration of smart devices and faster internet speeds are facilitating the consumption of video content on various platforms. Video streaming minimizes storage needs and simplifies content distribution.
Threats: Privacy and security threats can emerge from unauthorized access to streamed data. Rise of free streaming platforms increases competition.
Key Takeaways
The global Video Streaming Software Market Share is expected to witness high growth, exhibiting a CAGR of 19% over the forecast period, due to increasing demand for video on demand and live video streaming.
Regional analysis: North America dominates the global video streaming software market currently due to high internet penetration and technological advancements in the region. Asia Pacific is expected to be the fastest growing market owing to rising internet usage, smartphone adoption and increasing consumption of video content in countries like China and India.
Key players operating in the video streaming software market are IBM Corporation, Haivision, Brightcove, Qumu, Kaltura, Sonic Foundry, Vimeo, SprountVideo, VBrick, MediaPlatform, Dacast, Agile Content, and Wowza, and Panopto. Brightcove and Haivision are leading players based on capabilities and geographic presence in the global video streaming software market. The other major players are expanding organically and through strategic partnerships with technology providers to broaden their product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
