Written by: Roshan Dwivedi
Video-as-a-Service (VaaS) in enterprise is getting increasing traction because of the lower cost of ownership, significant growth of online videos and the growing need for on-demand streaming which are the driving forces for the video streaming market. Video streaming software market size is expected to increase from US $3.25 billion in 2017 to US $7.5 billion by 2022 at a Compound Annual Growth Rate (CAGR) of 18.2%.
Major factors contributing towards this growth of VaaS are lower cost of ownership, extensive growth of online videos and increasing needs for on-demand streaming. The highest growth rate is estimated in Video Analytics during the forecast period which is due to video analytics solutions offering a 360-degree view of enterprise viewer habits and behaviors which result in creating critical intelligence to support enterprise strategic goals.
Broadcasters, operators and media vertical are expected to have the largest market share in 2017 and this increase in adoption of video streaming software is due to the fact that video streaming software helps broadcasters, operators and media companies maximize monetization, minimize operational overheads, offer better services and enhance viewing experiences. Network connectivity issues, technical difficulties involved in video streaming are some of the major factors that are acting as an obstacle to the growth of the video streaming software market.
The video analytics solutions segment is expected to have the highest growth rate during the forecast period since video analytics solutions provide a 360-degree view of enterprise viewer habits and behaviors, producing critical intelligence to support enterprise strategic goals. Read More