The video streaming software market is on a rapid growth trajectory, expected to rise from $9.29 billion in 2023 to $10.96 billion in 2024, achieving a CAGR of 17.9%. This growth is fueled by high-speed Internet proliferation, the rise of over-the-top (OTT) platforms, increased smartphone adoption, and content digitization. Looking forward, the market is projected to reach $22.7 billion by 2028, with a CAGR of 20.0%. Factors driving this growth include the demand for interactive content, regional platform expansions, dynamic ad insertion strategies, and social integration features. Key trends include cloud-based streaming solutions, multi-platform streaming capabilities, innovations in subscription models, remote production advancements, and artificial intelligence (AI) integration.
Major Driver In The Video Streaming Software Market
The escalating demand for video-on-demand (VoD) streaming services is expected to fuel the growth of the video streaming software market. This demand surge is driven by the emergence of VOD services such as Netflix, video communication platforms like Zoom, and social platforms including TikTok, esports, and live streaming. According to Exploding Topics, the adoption of video streaming subscriptions in the United States has consistently grown, reaching 83% in 2023 compared to 78% in 2021. This growing preference for VoD streaming is anticipated to be a key driver for the video streaming software market's growth, with market sizes for 2023, 2024, and 2028 providing valuable insights into its evolution.
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Video Streaming Software Market Competitive Landscape
Apple Inc., Agile Content, International Business Machines Corporation (IBM), Akamai Technologies Inc., Polycom Inc., Ramp Holdings Inc., Vimeo Livestream, Southern Cross Media Group Limited, Uscreen Inc., Brightcove Inc., Kaltura Inc., Haivision Systems Inc., JW Player, Ooyala Inc., Vidyard Inc., Qumu Inc., Panopto, Bitmovin AG, NCH Software Inc., Streamroot, Cincopa LLC, Livestream Inc., Resi, Wowza Media Systems LLC, TikTok Live, Mirillis Ltd., StreamShark, Zixi Software Inc., Limelight Networks Inc., 24live, Cloudinary Inc., Dacast, Dailymotion SAS, Flowplayer AB, GUDSHO, Instagram Live, MediaPlatform Inc., Muvi LLC, Mux Inc., Prismplus, Sonic Foundry, StreamForge Inc., Telestream LLC, Vbrick Rev, VideoHelix, Vidizmo Inc., VPlayed Inc., YouTube LLC
Key Video Streaming Software Market Trend
Technological advancement is a key trend gaining popularity in the video streaming software market. Video streaming software companies are introducing new technologies in their product offerings to improve the customer video streaming experience. For instance, in July 2021, Amazon, a US-based technology company, introduced a live streaming service for the web and mobile applications powered by Twitch’s technology. Customers can set up and live stream videos through their website or mobile application using Amazon's Interactive Video Service (IVS). It allows content creators and developers to deliver a consistent, low-latency live streaming experience across several platforms and devices without sacrificing video quality or buffering.
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Video Streaming Software Market Segmentation
The video streaming software market covered in this report is segmented –
1) By Streaming Type: Live Streaming, Video-On-Demand Streaming
2) By Component: Solutions, Services
3) By Deployment: Cloud, On-Premise
4) By Vertical: Media And Entertainment, BFSI, Academia And Education, Healthcare, Government, Other Verticals
By Geography:The regions covered in the video streaming software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the video streaming software market share in 2023.
The Video Streaming Software Global Market Report 2024 furnishes information about the global video streaming software market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
