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 live streaming and on-demand playback of video content on any device with an internet connection. This provides flexibility, affordability, and scalability compared to traditional video distribution methods. The software offers features like simultaneous broadcasting on multiple platforms, video management, analytics, and monetization capabilities.
Market key trends: One of the key trends in the video streaming software market is the adoption of Artificial Intelligence (AI) and Machine Learning (ML) capabilities. AI helps analyze user behavior and interests to provide personalized video recommendations. It also optimizes video delivery based on user locations, devices, and internet speeds. ML enables functions like automated tagging, captioning, and summarization of large video libraries. This enhances the searching and discoverability of content and provides a better watching experience for users.
Segment Analysis
The video streaming software market is segmented into on-premise and cloud-based solutions. The cloud-based segment constitutes the major share of the overall market, dominating with over 70% share. This is owing to the various advantages provided by cloud-based models such as scalability, flexibility, low costs, and ease of deployment. Cloud-based streaming solutions allow organizations to stream videos to a large number of end-users without having to procure, install, and maintain expensive on-premise infrastructure.
Key Takeaways
The global Video Streaming Software Market Share is expected to witness high growth, exhibiting CAGR of 19.% over the forecast period, due to increasing demand for video content across industries and rapid penetration of high-speed internet services.
Regional analysis
North America currently dominates the global market with over 40% share owing to high adoption of digital technologies across industries in the US and Canada. Asia Pacific is expected to be the fastest growing regional market exhibiting a CAGR of over 22% during the forecast period due to availability of affordable cloud-based solutions and growing consumer demand in countries like China and India.
Key players
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. IBM Corporation is estimated to have over 15% market share owing to its well-established client base and strong foothold across regions.
For more insights, read- https://www.ukwebwire.com/video-streaming-software-market-trends-size-and-share-analysis/
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