Video Streaming Software Market to Surpass US$ 36.29 Billion by 2030 - Coherent Market Insights
BURLINGAME, Calif., Nov. 30, 2023 /PRNewswire/ -- According to Coherent Market Insights, Global video streaming software market size was valued at US$ 8.84 Billion in 2022 and is expected to surpass US$ 36.29 Billion by 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 19.30% from 2023 to 2030. The global artificial intelligence (AI) in genomics market is experiencing strong growth owing to increasing internet penetration, rising demand for non-demand video content, the proliferation of mobile devices, advancement in video compression technologies, and growing popularity of live streaming platforms.
Key Trends and Analysis of the Global Video Streaming Software Market:
1. Technological Advancement:
Innovation in streaming technology, such as higher video quality (4K, HDR), improved compression algorithms, and low-latency streaming are enhancing user experience. Growing popularity of mobile devices is driving a shift towards mobile-friendly streaming apps, leading to increased competition in the mobile streaming space.
2. Live streaming Dominance:
Live streaming is a key trend, with platforms focusing on real-time engagement, including live events, gaming, and interactive content. . Over-the-top services continue to gain prominence, challenging traditional TV broadcasting by offering on-demand content directly to consumers over the internet.
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Key Market Takeaways:
Global video streaming software market is expected to surpass US$ 36.29 Billion by 2030 and is anticipated to witness a CAGR of 19.30% during the forecast period 2023-2030, owing to rising penetration of mobile devices and the internet and growing on demand for video on streaming.
On the basis of Component, Solution segment is expected to monopolize the global video streaming software market due to its comprehensive offerings, including robust encoding, efficient content delivery, and adaptable playback options. These solutions often integrate advanced features like analytics, DRM, and scalable infrastructure, providing a seamless experience.
On the basis of Streaming Type, Live Streaming division is projected to lead the global market due to its real time engagement, interactive features, and varied content, providing users with immediate and dynamic experiences.
On the basis of Deployment, On-premises division is expected to be on the top in the global video streaming software market due to various factors such as security concerns, regulatory requirements, and the need for customized, dedicated solutions tailored to specific organizational needs.
On the basis of Vertical, Healthcare segment is poised to hold a significant valuation in the global market is driven by increased demand for telemedicine services, medical training through online platforms, and the adoption of video conferencing for remote patient consultation.
On the basis of Region, Asia Pacific region takes center stage in the global market owing to factors such as rapid technological advancement, increasing internet penetration, and growing consumer base.
Key players in the global video streaming software market include IBM Corporation, Haivision, Brightcove, Qumu, Kaltura, Sonic Foundry, Vimeo, SprountVideo, VBrick, MediaPlatform, Dacast, Agile Content, and Wowza, and Panopto etc.
Global Video Streaming Software Market Key Developments
In April 2023, Akamai Technologies revealed new cloud computing capabilities foe streaming video at the 2023 NAB show. The capabilities are intended to assist OTT operators in providing viewers with a high-quality and more personalized video experience.
In March 2023, Brightcove added new platform integrations with Shopify, Instagram, and Sales Force Sales cloud to its video cloud platform, expanding its e-commerce capacities.
In January 2023, IBM Waston Media announced the addition of additional event registration operation to IBM enterprise video streaming. These virtual event enhancement for registration from logic and enhanced editing make managing digital events easy and more efficient for users.
Read complete market research report, "Video Streaming Software Market, By Component, By Services, By Streaming Type, By Deployment Type, By Vertical, By Region and Segment Forecast 2023 - 2030", Published by Coherent Market Insights.
Global Video Streaming Software Market Segmentation:
- By Component
- Solution
- Transcoding and Processing
- Video Management Software
- Video Distribution
- Video Analytics
- Video Security
- Others
- Services
- Professional Services
- Managed Services
- Solution
- By Streaming Type
- Live Streaming
- Video On Demand
- By Deployment
- On-premises
- Cloud
- By Vertical
- Media and Entertainment
- Banking
- Financial Services
- Insurance
- Academia and Education
- Healthcare
- Government
- Others
- By Region
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Spain
- France
- Italy
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East & Africa
- By Country:
- Africa
- By Country:
- South Africa
- North Africa
- Central Africa
- By Country:
- North America
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