New York, USA, Jan. 05, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global video streaming software market is expected to generate a revenue of $19,537.1 million by 2027, growing exponentially at a CAGR of 20.4% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Video Streaming Software Market
Drivers: Rising demand for online video streaming services among millennials is expected to drive the growth of the market. In addition, increasing use of digital platforms for corporate training programs and online learning is further expected to bolster the growth of the video streaming software market during the forecast period.
Restraints: Prevalence of network connectivity problems in developing nations is expected to hinder the growth of the market during the forecast period.
Opportunities: Increasing implementation of advanced technologies like artificial intelligence (AI) and augmented reality (AR) in video streaming software is expected to create immense opportunities for the growth of the video streaming software market during the forecast period.
COVID-19 Impact on the Video Streaming Software Market
The outbreak of COVID-19 has had a positive impact on the growth of the global video streaming software market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns significantly surged the demand for video streaming software as all the corporate meetings, virtual events, and academic lectures took place with the help of this software. In addition, the gaming industry has also witnessed an abrupt growth during the pandemic, and hence gamers across the globe increasingly used audio and video communication with their friends while playing games.
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Segments of the Video Streaming Software Market
The report has divided the market into various segments based on component, streaming type, deployment type, vertical and region.
Component: Solutions Sub-segment to be Most Profitable
The solutions sub-segment generated a revenue of $2,556.2 million in 2019, and is further expected to grow expeditiously during the forecast period. Extensive application of solution component by the broadcaster and network providers due to its ability to deliver optimized video streaming quality to customers is expected to bolster the growth of the video streaming software market sub-segment during the forecast period.
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Streaming Type: Live Streaming Sub-segment to be Most Beneficial
The live streaming sub-segment is expected to generate a revenue of $11,175.3 million during the forecast period. Growing demand for online learning and remote working in various countries across the globe is expected to stimulate the growth of the sub-segment during the forecast period.
Deployment Type: On Premise Sub-segment to be Most Remunerative
The on-premise sub-segment is expected to garner a revenue of $10,046.4 million during the forecast period. The on-premise deployment mode provides a comprehensive control over enterprise content streaming platform and infrastructure. This factor is expected to drive the growth of the video streaming software market sub-segment during the forecast period.
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Vertical: Media and Entertainment Sub-segment to Have the Highest Growth Rate
The media and entertainment sub-segment are expected to grow exponentially at a CAGR of 20.3% during the forecast period. Increasing use of media and entertainment vertical as a promotional and advertising tool so as to create considerable awareness about the company products is expected to accelerate the growth of the sub-segment during the forecast period.
Region: Asia-Pacific Region to Dominate the Global Market
The Asia-Pacific region is expected to be most lucrative, and generate a revenue of $3,848.8 million during the forecast period. Growing demand for on-demand and live video streaming platforms by customers and massive population in this region is expected to drive the growth of the market. In addition, persistent technological advancements and immaculate improvement of infrastructure through video streaming platforms in this region is further expected to bolster the growth of the regional 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
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in July 2021, The Carlyle Group, an American multinational private equity, alternative asset management and financial services corporation specializing in private equity, real assets, and private credit, acquired LiveU, one of the big developers of livestreaming hardware and software, in order to strengthen Carlyle’s presence in the global video streaming software company market.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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