Videos have become powerful and effective tools for communication. Video streaming technology facilitates the transmission of video files with the help of streaming transcoders, streaming servers, and other related software, to provide uninterrupted videos to the viewers. Video streaming software empowers enterprises to create, store, manage, monitor, and share video content across enterprise systems, be it internally for communication purposes or externally for presenting information to live audiences. MarketsandMarkets expects the global video streaming software market size 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%.
Browse 81 market data tables and 61 figures spread through 150 pages and in-depth TOC on “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″
Among the video streaming software services, the managed services segment is expected to grow at a higher CAGR. SMEs are exhibiting increased inclination toward third-party video streaming software vendors and outsourcing their services to support business requirements and focus on core business functions. This has resulted in higher demands for managed services.
Cloud deployment is expected to be the fastest-growing deployment type in the video streaming software market, as cloud deployment is being increasingly accepted across various industry verticals. Cloud deployment is easy and quick, and it provides the highest level of data security and dependability. The installation cost of cloud-based deployment is less than of on-premises deployment.
Live streaming is expected to be the fastest-growing streaming type in the video streaming software market, as it is swiftly gaining traction within organizations, and it assists businesses to engage their audiences in the real time via high-quality videos. Live streaming also help companies in increasing viewership numbers and customer loyalty.
The education sector is expected to be the fastest-growing vertical in the video streaming software market, as video solutions are enhancing the classroom experience and increasing student engagement. Video solutions are also helping colleges and universities to manage the video resources collected from various sources from a single centralized location.
Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period. Intrinsic strength, rapid economic growth, and an increase in the usage of video streaming platforms are expected to drive the growth of the APAC region. The developed countries in this region are expected to experience significant growth because of greater technological infrastructure. The developing countries are gradually adopting video streaming platforms to advance operations and streamline business processes.
The major growth factors that are expected to further drive the adoption of video streaming software include the increasing need for transcoding to deliver videos to large numbers of end-users, extensive growth of online videos, and increasing traction of Video-as-a-Service (VaaS) among enterprises.
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