VIDEO STREAMING SOFTWARE MARKET ANALYSIS

Market Overview

Video streaming refers to a technology that can transfer video files with the help of video streaming software. In layman’s term, video streaming is a method of viewing video without actually downloading the media file. Video streaming software has gained significant popularity in the recent past due to rising technological innovation and growing proliferation of high-speed internet. Video streaming software is being used in different verticals such as education, entertainment, sports, government, media, BFSI, retail, transportation, energy & utilities, gas & petroleum, and chemicals.

The global video streaming market is expected to reach a value of US$ 36.29 Bn by 2030 at a CAGR of 19.3% between 2023 and 2030.

Market Dynamics- Drivers

1. Rising penetration of mobile devices and the internet is expected to drive growth of the global video streaming software market during the forecast period

The number of mobile device users has increased significantly over the years in both developed and emerging economies. Furthermore, the number of internet users has increased as well in the recent past. According to the Internet Live Stats, in 2016, there were around 462, 124,989 internet users in India, which is around 34.8% of the total population. According to the same source, total internet users across the globe in 2016 was over 3 billion. According to the Internet and Mobile Association of India (IMAI), in 2019, India had over 500 million internet users across the country. Such increasing internet and mobile device users have led to increased use of video streaming services. Thus, these factors are expected to drive growth of the global video streaming software market during the forecast period.

2. Growing demand for video-on-demand (VOD) streaming is expected to propel the global video streaming software market growth over the forecast period

The demand for video-on-streaming (VOD) streaming services has increased significantly in the recent past. VOD streaming services such as Hulu, Netflix, Amazon Prime Video, HBO, Disney Plus, and similar other services have recorded a notable rise in their paid subscribers. These VOD streaming services provide ad-free, high-quality content at affordable subscription fees. Rising competition among VOD service due to the entry of new competitors such as Disney+ and Apple TV+ has compelled other marketers to provide quality service. Thus, these factors are expected to propel the global video streaming software market growth over the forecast period.

Statistics:

Asia-Pacific region dominated the global video streaming software market in 2022, accounting for 32.2% share in terms of value, followed by Europe, North America and ROW respectively.

Figure 1: Global Video Streaming Market Share (%), in terms of Value, By Region

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Market Dynamics- Restraint

1. Major challenges related to piracy are expected to hamper the global video streaming software market growth over the forecast period

Major challenge that video streaming software companies face is piracy over the internet. Downloading unlicensed content is always illegal since it violates the copyright holder’s permission. Such violation leads to loss of revenue for video streaming software companies. Furthermore, constant piracy issues can lead to exposure to viruses, corrupt disk, and legal consequences. Thus, these factors are expected to hamper the global video streaming software market growth over the forecast period.

2. Rising threat of video content security and privacy is expected to restrain growth of the global software market during the forecast period

Security and privacy issues remain a major challenge for video streaming software companies. Consumers are highly concerned about the privacy of the content they share through this software. For instance, in March 2020, users of Zoom Video Communications Inc. faced numerous issues regarding the security and privacy of the software. One of the most notable issues was called ‘Zoom-bombing’, which allowed access to calls that were not set to private or password-protected. It could be accessed by anyone who puts the nine- to 11-digit meeting code. Such issues hinder adoption of video streaming software. Thus, these factors are expected to restrain growth of the global video streaming software market during the forecast period.

Market Opportunities

1. Optimization of network bandwidth can present lucrative growth opportunities in the global video streaming software market

Network bandwidth plays a crucial role in the quality of video streaming software. Greater bandwidth of the network will provide high-quality content streaming with better speed. However, lower bandwidth will hinder the quality of content. Optimization of network bandwidth can present major opportunities for market players where they can provide high-quality content at relatively greater speed. Major companies in the market can capitalize on these opportunities by providing novel solutions and gain a significant advantage in the market.

2. Rising preference for online streaming service over conventional TV can provide major business opportunities in the global video streaming software market

Consumers are increasingly preferring online streaming services over conventional television. This is due to the fact that online streaming services provide better efficiency of viewing the content as compared to traditional TV. These streaming services can be accessed from anywhere over a smartphone, tablet, or laptop. As a result of this, the demand for video streaming software is rising rapidly.

Figure 2: Global Video Streaming Software Market Value (US$ Bn)

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Market Trends

1. Rising application of artificial intelligence (AI) and machine learning technologies

Artificial intelligence (AI) is finding applications in a vast number of sectors, including video streaming software. Many live streaming services are employing machine learning, artificial intelligence, and deep learning to provide their services efficiently to consumers. AI enables companies to encode, organize, and distribute the data that will streamline the digital landscape. It also helps to regulate illicit content and prevent infringement of copyright content.

2. Increasing number of video streaming service providers

Many media companies are focused on launching their own streaming services, in order to capitalize on the market revenues. For instance, in November 2019, Walt Disney Direct-to-Customer & International launched its Disney+ video-on-demand streaming service. Furthermore, in November 2019, Apple Inc. introduced its ad-free subscription video-on-demand web television service Apple TV+. Such streaming services are providing lucrative content at affordable subscription fees.

Competitive Section

Major companies operating in the global video streaming software market are IBM Corporation, Haivision, Brightcove, Qumu, Kaltura, Sonic Foundry, Vimeo, SprountVideo, VBrick, MediaPlatform, Dacast, Agile Content, and Wowza, and Panopto.

Key Developments

1. Key companies are focused on product launches, in order to enhance the market presence. For instance, in October 2019, IBM Watson Media introduced a new IBM Video Streaming mobile application to enable enterprise users to broadcast one-to-many live-streamed videos.
2. Major market players are involved in product development, in order to gain a competitive edge in the market. For instance, in February 2018, Qumu introduced a new software-based iPTV solution Qumu iPTV.