Video Streaming Software Market Projected to Reach 7.50 Billion USD by 2022
The video streaming software market is expected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%.
August 31, 2017 /MarketersMedia/ —
According to new report “Video Streaming Software Market by Solution (Transcoding & Processing, Video Management, Video Security), Service (Professional & Managed), Streaming Type (Live & Video On Demand Streaming), Deployment Type, Vertical, and Region – Global Forecast to 2022”, the global video streaming software market size is expected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%.
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The key forces driving the video streaming software market include the increasing traction of Video-as-a-Service (VaaS) in enterprises due to lower cost of ownership, extensive growth of online videos, and the growing needs for on-demand video streaming services. Moreover, with the subsequent increase in the adoption rate of cloud-based video streaming software solutions and network bandwidth optimization, the video streaming software market is expected to gain a major traction during the forecast period.
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“Transcoding and processing solutions segment is expected to have the largest market share in 2017.”
The transcoding and processing solutions segment is expected to have the largest market share during the forecast period due to the increasing enterprise adoption of cloud-based transcoding solutions, which can quickly convert any type of uploaded video into various formats so that enterprise viewers can receive high-quality videos in a device-compatible format. In addition to this, cloud-based transcoding solutions reduce the overheads of owning hardware equipment.
“Education vertical is expected to witness the highest growth rate during the forecast period.”
The education vertical is projected to grow at the highest CAGR from 2017 to 2022, as video solutions are enhancing the classroom experience and increasing student engagement. Video solutions also help colleges and universities to manage the video resources collected from various sources from a single centralized location.
“North America is expected to contribute the largest market share; Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period.”
North America is expected to have the largest market share due to various factors, such as collaborations between governments and network arenas, institutional partnerships, and large-scale investments in outsourced video streaming solutions and services. APAC offers potential growth opportunities owing to the increasing usage of digital media among organizations and individuals, and the rising awareness about business productivity in the APAC region.
The major vendors providing video streaming software solutions are Brightcove, Inc. (Boston, US), Haivision, Inc. (Montreal, Canada), IBM Corporation (New York, US), Kaltura, Inc. (New York, US), Kollective Technology, Inc. (Bend, US), Ooyala, Inc. (Santa Clara, US), Panopto (Pittsburgh, US), Polycom, Inc. (San Jose, US), Qumu Corporation (Minneapolis, US), Sonic Foundry, Inc. (Madison, US), VBrick (Herndon, US), and Wowza Media Systems, LLC (Colorado, US).
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