Video Streaming Software Market - Growth, Trends, Impact Of COVID-19, and Forecasts (2023-2028)

The global video streaming software market is anticipated to witness a CAGR of 17.8% over the forecast period. The surge in demand for multiscreen video-on-demand applications, the increasing penetration of smartphones, and technological advancement in video processing solutions are some of the factors driving the market's growth. The media and entertainment industry uses video processing solutions for real-time video streaming with high-quality network bandwidth.

Key Highlights

• In recent years, video streaming software found a potential role in industrial applications by providing seamless video content and a quicker data-to-decision time, including security and surveillance, streaming and broadcasting, and others.
• People's perceptions of media consumption have evolved significantly. People increasingly watch movies, listen to music, and read publications and books via internet video streaming services. This is just one of the countless technological shifts in the history of streaming media. Video streaming tools have grown tremendously in popularity during the study period.
• Video streaming software has also become an important component of corporate communication. Video software streams videos over the internet for corporate online communication and lives audiences. This not only reduces staff training costs but also enhances the efficiency of business communications.
• As the internet and connected devices like tablets and interactive displays become widely used for VOD software as a service (SaaS) solution that helps large institutions deliver video streams, market for video streaming software surges and is likely to expand at a healthy rate in the future.
• Videos can be utilized effectively in webinars and courses to enhance teaching and learning processes in the education and academic sectors. Visual records greatly influence students' capacity to recall information. Thus, universities, schools, and institutions are producing multimedia information and delivering it via video presentations. Factors such as simple access to instructional video content, rising demand for mobile devices, and increased internet availability encourage live video streaming software for educational purposes.
• The widespread adoption of digital media across multiple industries raise viewer demand for various streaming solutions and services, opening up new growth opiportunities for participants in the video streaming software industry.
• The rapid adoption of smartphones and cloud-based services increased the penetration of VOD platforms. The incorporation of AI and machine learning to help regulate live streaming and provide insights on consumer usage patterns, as well as partnerships to offer more region-specific content, contribute to the growth of the video streaming segment worldwide.

Video Streaming Software Market Trends

The Increasing Penetration of Internet & Smartphones has Boosted the Demand for Video Streaming Software.

• The growing population of smartphone users and strong internet penetration are two significant factors driving the increase in online users. This is expected to increase the demand for real-time video services, opening up new growth opportunities for the video streaming software market during the forecast period.
• A rapidly growing young population, rising consumer demand, and improving advertising revenues, along with the expanded use of 3G, 4G, the introduction of 5G, and portable devices, are driving the demand for video streaming software.
• The availability of the internet cloud alters the way broadcasters operate. Many businesses discovered that all-in-one cloud video platforms for live streaming and video on demand (VOD) are more convenient, scalable, and feature-rich than traditional broadcasting systems. Thus, the increase in Cloud users drives up the market demand for video streaming software.
• Market players such as Dacast, Brightcove, IBM Cloud Video, Kaltura, and others provide Software as a Service (SaaS) video solutions, secure sharing of online content, video cloud services for live and VOD support, Cloud streaming, and online video hosting provide outstanding assistance to the media and entertainment, business, and other segments, driving the increasing demand for video streaming software in the market.
• Through e-learning, users of video streaming software can use photographs, videos, and Powerpoint presentations to create interactive lectures and lessons. In an educational setting, information consumption is critical, and delivering the relevant information in a well-presented production helps users assure exceptional learner outcomes. Allowing students to create their school program is an excellent approach to introducing them to video production and broadcasting. Enabling students to go through recordings helps improve their ability to retain information.
• For instance, Griswold Elementary School utilizes vMix HD, an educational streaming software, to stream a daily morning announcement presentation that is viewable live and on-demand throughout the district. The performance is created by a team of 4th-grade students who rotate each month. They use virtual sets and numerous overlays to display weather visuals from a web page and a data source to fill a ticker with student birthdays.

A Significant Market Share for North America

• North America witnessed a sudden surge in demand for video platforms due to the impact of COVID-19. The United States is considered one of the major investors and innovators of online video platforms, as adoption among various end users increased over the years. For instance, in February 2022, the ninja was the most-followed live streamer on Twitch, with approximately 17.45 million followers.
• According to the Training Magazine, in 2021, most organizations in the training industry in the United States reported employing a learning management system (LMS). In the same year, over 90 organizations in the training industry adopted this learning technology. The use of virtual classrooms, webcasting, or video broadcasting is mentioned by 88% of businesses that require video streaming software. This significantly improves the market for video streaming software in this region.
• Edtech companies in this region collaborate with software-enabling companies to enhance their offerings to users, which increases the demand for the video streaming software market. For instance, Esme Learning, a global provider of online professional development, and Riff Analytics, an AI-enabled software startup, are collaborating to satisfy the learning needs of future business leaders. The two companies, which service around 1,500 organizations in 95 countries, will offer turnkey solutions for higher education and learning and development departments.
• Market players in this region offer solutions to their clients to remain competitive. For instance, Haivision Systems Inc., a significant provider of mission-critical, real-time video streaming and networking solutions, announced that the Makito X4 Rugged video encoder would be featured in Diamond Aircraft's special mission fixed-wing aircraft DA62 MPP during its North America Demo tour. Diamond Aircraft's DA62 MPP incorporates the latest tracking and sensor technology and is the most cost-effective, powerful, and versatile airborne platform in its class. It is suitable for law enforcement and surveillance operations, search and rescue missions, disaster management, infrastructure and environmental monitoring, and other applications.

Video Streaming Software Market Competitor Analysis

The video software market is quite competitive and has significant players in the market. In terms of market share, few major players dominate the market. Some major players include Kaltura, Inc., Brightcove, Inc., Panopto, Inc, Haivision Systems Inc., Vimeo.com, Inc., and others. The market concentration is expected to be moderate since these significant players with prominent market shares focus on expanding their customer base globally.

• January 2022 - Brightcove Inc. (Nasdaq: BCOV), a significant provider of video for business, announced that Harness Racing Victoria had relaunched TrotsVision, a live and on-demand 'always on' channel powered by Brightcove technology. TrotsVision allows Australian harness racing fans to watch live and on-demand material from 27 clubs and rare behind-the-scenes content and inside views into all activities between races.
• April 2021 - Panopto, a significant provider of video management systems, announced completing its acquisition of Ensemble Video, a producer of video management software for K-12, higher education, and companies. This investment will allow hundreds of new customers to use Panopto, increasing the company's ability to satisfy the demands of K-12 educators and bolstering its world-class engineering team.

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