Global Video Streaming Software Market

The Global Video Streaming Software market was calculated at USD 7.5 billion in 2020. It is expected to enlarge at a compound growth rate (CAGR) of 21.0% in 2027 and reach USD 17.5 Billion in 2027. The leading drivers expected to drive the market’s growth are the increasing intelligence of mobile devices and internet users, growing demand for VOD streaming, technological advancement in the digital media industry, and the increasing demand for transcoding to deliver videos to maximum audience. These factors increase the demand for the video streaming software market. People consume the growing way of media has changed rapidly in recent years. Many people believe on smartphones and tablets to watch videos, movies, listen to music and read books—this new and advanced technology changed one of many in the history of the video streaming media market. Video streaming works on the data streaming technology, in which videos are compressed and sent in a chunk requesting devices. Generally, streaming software delivers videos over the internet for corporate and professional communications. This communication reduces employee training costs and increases the efficiency of corporate communication and professional communication.

What is Video Software Market?

Video software is a type of tool that broadcasters use to enhance their streaming experience from one way to another. Generally, streaming software creates a more advanced or more professional-looking stream. The software delivers videos over the internet for corporate communications and live audiences. The Video software streaming works on the data streaming technique, in which video files are compressed and sent in a chunk to requesting device. An appropriate video player needs to be connected to a remote server for streaming a video. Video streaming systems are managed by both providers and customers, depending upon the type of deployment chosen by the customers.

Growth Drivers

The rise in the penetration of mobile devise and internet users

The major driving factor of the Video Software Market is the Increasing penetration of mobile devices and internet users. By increasing the consumption of media in digital format significantly across the globe. The rise in the number of devices supporting digital media, along with the growing access to high internet speed, provides the consumer with an option to access the media content of people choose, be it information, entertainment, or social activity, anytime and anywhere. Mobile devices have taken over as the selected medium of consuming online media among all the digital devices used. The smartphone market has witnessed unrivaled growth in the last ten years. The use of smartphones is increased across the globe. As per the previous year’s data, 2.71 billion people worldwide own a smartphone. The online video current movement trend is exploding the amount of internet traffic brought out at a high rate. It is expected to increase nearly 60% of internet traffic by 2022. With advanced and improved networks, better access to the internet, multimedia services capable of mobile devices, and an application development ecosystem, more and more media consumption are overtaking via the digital platform. According to researchers, viewers stream more than 2.5 hours of video content per day on their smartphones. The accessibility of high-speed internet at a low cost has also increased the software market’s growth.

Opportunity

The video streaming market continues to grow in popularity at the expense of traditional broadcast viewing. On average, viewers spent about six hours per week watching various online videos, a 59% increase since 2015. At the same time, television viewing cut down by 10% to about seven hours in the previous year. People are chosen for online streaming services due to high-speed internet at a low price, flexibility on time, availability of video content all the time. Unlike traditional TV audiences, VOD viewers are not limited by region for choosing their content. The cost of on-demand video services is much less than the cost of cable TV providers. Due to the rapid spread of covid-19, a 40%increase in viewership across several OTT platforms has been observed. According to an available OTT report, it is found that 60% of the viewers are aged between 18-38 use OTT platforms.

Pre-covid-19 Impact on Video Software Streaming Market

Before the pandemic, The Video Software Streaming Market has increased by the growing adoption of content, influencing the market positively. This trend is majorly observed in the countries of North America and Europe. Ongoing innovations and new advanced technological advancements are expected to meet the growing user’s expectations for exceptional video quality and performance. The increasing demand for transcoding to deliver videos to many end-users, the comprehensive growth of online videos and the growing need for on-demand services are aspects pushing the growth of the video streaming software market. Expansive possibilities in Small and Medium-Sized Enterprises (SMEs) and high growth in the education sector are anticipated to offer tremendous market opportunities in this market before the pandemic outbreak.

Covid-19 Impact on Video Streaming Software Market

The effects of the covid-19 pandemic positively impacted the video streaming software market. Most people stay at home, which increased VOD (video on demand) and OTT (Over the top) subscriptions. Because of a sudden disruption in supply chains across vertical and containments measures, several offices have shut down while most enterprises have adopted the work from home initiatives, which has increased the use of video streaming for business progression purposes, such as internal transmission, training and development and large audience engagements across the globe. The viewership of video streaming services has vastly increased on several video streaming platforms like Netflix, Amazon, Prime Video, YouTube, Disney+ have registered an increase of more than 50 % in the number of installing its mobile application in countries. As per industry advisors, most of the vendors in the video streaming or related markets have experienced a rise of 20-40% in their customer base due to the pandemic.

Post-covid-19 Impact on Video Streaming Software Market

After the pandemic year, the demand for the video streaming market is boosted for business continuity, educational, and training purposes. The Global video streaming software market will constitute 82% of all internet traffic by 2022. According to communication research firm Interdigital, the increased accessibility of streaming video is smooth and straightforward for audiences to access content from their television, gaming devices, laptops and smartphones. As streaming services built their audience in the pandemic, they offered the most ambitious slate of programming ever. The audience won’t suddenly lose their appetite for that, and they increased the demand for the video streaming software.

By component segment analysis

The Video Streaming Software Market is classified into two segments: solutions and services. The solutions segment held the highest market size during the forecast period. Video Streaming Solutions allows organizations to centralize, manage and securely deliver videos. Video streaming software help manages all the activities, from capturing to ingestion to final transporting inside video searching, video capturing, automatic transcoding, batch and programmatic uploading video editing, Digital Rights Management (DRM), encryption, monetization, APIs, video player, Video collaboration, and broadcast observing are the key features of video streaming solutions. These solutions provided various benefits, such as less holding pattern video streaming and declined distribution cost, lower downtime, and high transcoding speed for enterprise customers—all these factors benefit the increasing acquisition of video streaming solutions.

By streaming segment analysis

Cloud deployment video streaming platforms provide multiple advantages, such as low operational expenses, easy deployment, scalability, and easy collaboration—the interest of large and small enterprises due to the increase in smartphone users, utmost players are concentrating on offering handy and effortlessly attainable solutions for platforms. Large enterprises and small enterprises deploy cloud-based video streaming platforms primarily for flexibility. With cloud-based video streaming platforms, the organization can easily decrease their in-advance costs, manage content standards, expand their return on investment (ROI), and expand their audience base. Hence, big and large enterprises are gradually adopting cloud-based video streaming solutions.

By Vertical segment analysis

The many internet users consuming visual content has increased, and the use of video streaming services for the education sector, banking sector, healthcare sector, travel and tourism and others is also increasing. Live education video streaming and live programs broadcasting could prove to be great engagement tools and can educate, share knowledge and prepare training programs. Video streaming software is increasingly popular in all these sectors.

Region Segmental analysis

The video streaming software market has the highest share in North America, especially the U.S., is dominating the global landscape. Although the growth in the total number of video streaming service-related subscriptions is slowing down in North America, the consumption time or video streaming time per user still keeps increasing, as the availability and quality of streaming content is constantly improving. The concentration of video streaming hours in North America can be attributed to an increase in traditional pay-tv providers operating in the market.

Competitors Analysis

The companies include Netflix, Amazon Prime Video, Hulu, Disney plus, YouTube, Bright cover Inc., Sonic Foundry, VBricks, Wowza Media Systems LLC, Panopto, Kaltura, IBM, Kollective Technology, are the prominent players in the global video streaming software market. Key Stakeholders

• Regulatory bodies
• Market research and consulting firms
• Industry associations
• Research organization and consulting companies
• Organization, associations and related to Video Streaming Software Market.

Recent Developments

• In March 2021, IBM launched a replacement advanced video feature for its video streaming and enterprise video platforms. It allows the organizations to update outdated videos with new versions while not worrying about logistics around URL links were embedded in the video.
• In April 2020, Degreed, a workforce upskilling platform, is partnered with video cloud Kaltura to enable fast and simple use of video in talent development. The partnership will facilitate learning and talent teams to create, unify, curate, and protect videos and insert them seamlessly into both self-directed learning and structured training experiences.
• In January 2020, Panopto opened a commercial office in Singapore in response to the significant growth in demand in Asia.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 7.5 Billion
The revenue forecast in 2027	USD 17.5 Billion
Growth Rate	CAGR of 18.5% from 2021-2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Asia Pacific, Europe, Middle East & Africa and South America
Key companies Profiled	Netflix, Amazon Prime Video, Hulu, Disney plus, YouTube, Bright cover Inc., Sonic Foundry, VBricks, Wowza Media Systems LLC, Panopto, Kaltura, IBM, Kollective Technology.

Market Modelling

By Component Type

• Solutions
• Video Distribution
• Video analytics
• Services

By Streaming Type

• Live to stream
• Video-ON-Demand streaming

By Verticals Type

• Media and Entertainment
• Academic and Education
• Healthcare
• Government
• BFSI
• Other verticals

By Region

• North America
• Europe
• South America
• Middle East & Africa
• Asia Pacific

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