According to a new market research 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”, published by MarketsandMarkets™, it is estimated that there will be a growth in the Video Streaming Software Market from US$3.25 billion in 2017 to US$7.50 billion by 2022 at a CAGR of 18.2%.
Some key factors contributing towards this growth consist of increased propulsion of Video-as-a-Service (VaaS) in companies due to low ownership costs, the huge growth of online videos and the growing demand for on-demand video streaming services. Further, the Video Streaming Software Market is expected to get major traction due to the subsequent increase in the adoption rate of cloud-based video streaming software solutions and network bandwidth optimization.
It is expected that the transcoding and processing solutions segment will have the biggest market chunk during the forecast period due to rise in enterprise adoption of cloud-based transcoding solutions, the purpose of which is to enable conversion of any uploaded video into various formats for enterprise viewers to view high-quality videos in a format that’s compatible with their devices. Moreover, overhead costs of owning hardware equipment are greatly reduced due to cloud-based transcoding solutions.
In the education sector, CAGR is expected to be at an all-time high from 2017 to 2022 due to improved video solutions that enhance the classroom experience. By providing better ways of managing video resources acquired from various sources and storing them at a centralized location. The North American market is the largest for Video Streaming due to tie-ups between governments and network arenas, institutional partnerships and huge investments in outsourced video streaming solutions and services. There is potential for growth in the APAC region due to increased usage of digital media in organizations and among individuals, apart from the elevated awareness about business productivity in the region. Read More