The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Video Streaming Software Market. The growth sectors of the Video Streaming Software Market are identified with precision for a better growth perspective.
The global video streaming software market is projected to reach USD 9.57 billion at a CAGR of over 18% by the end of the forecast period 2017-2023.
The global video streaming software market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing adoption of artificial intelligence. Moreover, increasing demand for video streaming software services across various end users such as corporate companies for training purposes is driving the growth of the global video streaming software market.
The global video streaming software market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the video streaming software market in North America region owing to the presence of large number of established key players such as Brightcove, Inc., IBM Corporation, Kaltura, Inc., Kollective Technology, Inc., Ooyala, Inc., Panopto, Polycom, Inc. and Qumu Corporation in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future.
Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to increasing focus on business organizations towards digital media marketing and growing adoption of video streaming software services by large enterprises for the corporate travel packages. In the global video streaming software market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing implementation of artificial intelligence and video analytics in order to better understand customer behavior across different countries in the region.
Some of the prominent players in the global video streaming software market: Brightcove, Inc. (U.S.), Haivision, Inc. (Canada), IBM Corporation (U.S.), Kaltura, Inc. (U.S.), Kollective Technology, Inc. (U.S.), Ooyala, Inc. (U.S.), Panopto (U.S.), Polycom, Inc. (U.S.), Qumu Corporation (U.S.), Sonic Foundry, Inc. (U.S.), VBrick (U.S.), and Wowza Media Systems, LLC (U.S.) among others.
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