VIDEO STREAMING SOFTWARE MARKET ANALYSIS

Market Challenges And Opportunities

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.

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.