New York, USA, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global video streaming software market is anticipated to garner a revenue of $19,537.1 million and grow at a noteworthy CAGR of 20.4% during the forecast period from 2020-2027.
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As per our analysts, due to the increasing demand for on-demand video streaming and cloud-based services worldwide, the market is expected to see significant growth over the analysis timeframe. This is mainly because of the more productive environment produced by video streaming platforms than written documents. Moreover, growing demands for on-demand video streaming services such as Netflix, Hotstar, Prime Video, and many others is the factor predicted to drive the growth of the market throughout the analysis period. Besides, the growing incorporation of innovative technologies such as AI tools in making video streaming software is further expected to create massive growth opportunities for the video streaming software market. However, the high cost associated with video streaming platforms and the network connectivity problems is the major factors that may hinder the growth of the market over the estimated period.
Covid-19 Impact on the Global Video Streaming Software Market
In the wake of the Covid-19 pandemic, where various industries have faced various challenges and difficulties, the global video streaming software market has witnessed a positive impact during the pandemic. During this period of crisis, many organizations have transformed into video conferencing and collaboration platforms such as Zoom, educational platforms, social media, and many gaming platforms. These factors have surged the growth of the market during the lockdown period. Moreover, the active participation of market players in launching new products with the interpretation of new technology for products enhancement is further expected to thrive the growth of the market during the analysis period.
Check out How COVID-19 impact on the Global Video Streaming Software Market: https://www.researchdive.com/connect-to-analyst/410
Segments of the Global Video Streaming Software Market
The report has divided the market into segments namely, component, streaming type, deployment type, vertical, and region.
Component: Solution Sub-Segment to be Most Lucrative
The Solution sub-segment is expected to garner $2,556.2 million in revenue and is predicted to continue steady growth over the estimated time period. The usage of solution components by major industries such as network providers, broadcasters to deliver improved video streaming in the content delivery networks is further expected to fortify the growth of the video streaming software market’s sub-segment during the forecast period.
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Streaming Type: Live Streaming Sub-Segment to be Most Profitable
The live streaming sub-segment is anticipated to generate $11,175.3 million and is expected to be more beneficial during the forecast period. This is mainly due to the rising demand for remote working, collaboration, and increasing online classes. Moreover, the wider range of advantages like analytics tracking, wider audience potential, ease and convenience, richer content use, and many more, are the factors further expected to bolster the growth of the market’s sub-segment during the analysis period.
Deployment Type: On-Premise Sub-Segment to Have Largest Market Share
The on-premise sub-segment is expected to garner a revenue of $10,046.4 million and is predicted to dominate the market during the forecast timeframe. Moreover, the offering of complete control over enterprise content streaming platform and infrastructure by premise deployment mode is the major factor expected to augment the growth of the video streaming software market’s sub-segment throughout the analysis period.
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Vertical: Media and Entertainment Sub-Segment to Have Maximum Market Share
The media and entertainment sub-segment is anticipated to grow at a noteworthy CAGR of 20.3% during the analysis period. The extensive utilization of video streaming platforms in the media and entertainment vertical in the global market. In addition, the growing usage of the media and entertainment vertical by enterprises as an advertising and promotional tool to spread awareness about their products is the factor expected to amplify the growth of the market sub-segment over the analysis period.
Region: Asia-Pacific Region Anticipated to Have Massive Growth Opportunities
The Asia-Pacific region is projected to generate $3,848.8 million and is expected to hold the largest market share during the analysis period. This is mainly because of the rising demand for on-demand and lives video streaming platforms by customers and the growing adoption of enterprises for training and partnerships purposes. Furthermore, constant efforts of developing countries of this region on the improvement of infrastructure through video streaming to modernize business activities is the major factor expected to boost the regional growth of the video streaming software market.
Key Players of the Global Video Streaming Software Market
1. Sonic Foundry
2. Limelight Networks
3. Haivision
4. Akamai Technologies
5. IBM
6. Vbrick
7. Plantronics, Inc
8. Brightcove, Inc
9. Kaltura, Inc
For instance, in July 2021, Carlyle, a leading American multinational asset management and financial services corporation, has announced its acquisition with LiveU, one of the renowned developers of live-streaming hardware and software. With this acquisition, the companies have aimed to invest in middle-market technology-focused opportunities in Europe and the U.S to uplift the making and enhancement of new video streaming tools.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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