New York, USA, Oct. 28, 2020 (GLOBE NEWSWIRE) -- According to analysis by Research Dive, the Global Video Streaming Software Market size will be $19,537.1 million till 2027, at a 20.4% CAGR, growing from $4,488.3 million in the year 2019.
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Video Streaming Software Market, COVID-19 Effect
The coronavirus has impacted the overall video streaming software market in a positive way. During this pandemic, significant players are incorporating innovative technologies such as artificial intelligence and machine learning tools to video streaming platforms to optimize the video streaming quality and latency to deliver high quality video content. For instance, in July 2020, Haivision acquired a U.S. based technology innovator Teltoo Inc., for WebRTC and peer-to-peer (P2P) enabled real time video delivery with scalable, high video quality and low latency video delivery. This acquisition will help Haivision to implement its artificial intelligence and machine learning abilities against real time network system analytics to improve edge-to-edge low latency video streaming applications. This aspect is predicted to impel the market growth in the estimated time.
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Video Streaming Software Market, Overview
There is rising utilization of video streaming platforms in the corporate training programs to train and collaborate with employees irrespective of location, which is significantly accelerating the video streaming software market growth in the forecast years. This growth is attributed to most of the employees and instructors in the corporate offices who are choosing video streaming platforms because of it being the most dynamic tool for learning in both streaming types such as real time as well as video on demand. These factors are favoring the market growth in the forecast time. In addition, rising implementation of advanced technologies such as artificial intelligence and virtual reality to provide advanced video streaming platforms is estimated to impel the growth of the market in the coming years. However, network connectivity issues especially in low income economies are significantly impacting the video streaming quality, which is estimated to restrict the growth of the market in the forecast timeframe.
Video Streaming Software Market, Segmentation Insights
Video streaming software market for services component is estimated to experience a significant growth in the forecast time and is estimated to generate a revenue of $9,017.0 million till 2027. This anticipated growth over the market is mainly due to leading broadcasters and media companies offering several services such as personalized and customized services based on consumers and enhanced experience.
Video on demand sub-segment will witness to grow at a healthy CAGR of 21.7% and is estimated to reach up to $8,361.8 million in the year 2027. The demand of video content to be accessible for months and years later after release, is rising the use of video on demand streaming type, which is estimated to impel the market growth in the forecast time.
Cloud sub-segment is anticipated to witness a noteworthy growth during the estimated time and is predicted to generate a $9,490.6 million revenue by 2027. This estimated market growth for cloud deployment is accredited to growing demand for cloud services because of surge in developments and innovations in cloud networks to offer enhanced quality content streaming services to consumers.
Education sub-segment will witness to rise at a rate of 21.2% CAGR and is anticipated to reach up to $ $2,552.8 million by 2027. Swift growth in virtual and online classrooms owing to rising preference of live and on demand lecturers by the educational institutions and students to deliver off-campus streaming and learning at any time and any place is estimated to impel the market growth in the forecast timeframe.
North America accounted for the highest video streaming software market size in 2019; it was over $1,944.3 million and is estimated to retain its steady growth with a notable CAGR of 19.9% during the projected time. This dominance is majorly accredited to presence of technologically and ecologically improved economies including Canada and U.S. The U.S. is the major place for development and innovation of several emerging technologies that eventually motivate the early implementation of video streaming platforms by industry verticals such as educational institutions, broadcasters, media companies and other verticals.
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Video Streaming Software Market, Significant Market Players
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.
Porter’s Five Forces Analysis for Video Streaming Software Market
• Bargaining Power of Suppliers: Video streaming software industry has high number of large and small & medium sized dealers, and significant players are emphasizing on product advancements, and hence the delivering changing price is estimated to be high. The bargaining power of dealers is High.
• Bargaining Power of Buyers: This market has huge concentration of consumers, high demand for video streaming platforms and high cost for the implementation of advanced software systems are resulting in moderate power of consumers. The negotiating control of the buyer is Moderate.
• Threat of New Entrants: Increasing requirement of video streaming platforms for business collaborations and meetings and presence of significant players are resulting high threat for new entrants in the market. The threat of new entrants is High.
• Threat of Substitutes: Video streaming software market has high number of alternatives, and therefore high risk of alternatives. The risk of alternates is High.
• Intensity of Rivalry: This market has huge number of key participants. These key participants are concentration on various strategies such as acquisitions, collaborations and new product launches to gain highest market share. The competitiveness in the market is High.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.