According to a recent FMI report, the global video content management market is expected to be worth US$ 3.5 billion in 2021. Demand is expected to skyrocket, reaching $4 billion in 2022 and $13.5 billion in 2032. The market is expected to grow at a CAGR of 12.9% between 2022 and 2032.
To improve employee collaboration and communication, organisations are turning to video-based communication solutions such as web-based communication via video conferencing and video calling. Consumption of video content was seen to be rapidly increasing as the pandemic began.
The adoption of video management services will be accelerated by newer technologies such as live closed captioning and face recognition-based searches powered by AI and ML. The evolution of 5G has yet to realize its full transformative potential, presenting a significant growth opportunity for the video content management market. From 2015 to 2021, video content management market worth grew at a 14.3% CAGR.
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Most video communication tools are still limited to conference rooms due to the high costs and extensive infrastructure requirements associated with UCC video conferencing solutions. Furthermore, some video conferencing solutions do not support interoperability across platforms and devices, making it difficult for users to use video conferencing solutions. As a result, vendors face numerous challenges in promoting video conferencing solutions as a UCC tool.
Key Takeaways from the Market Study
- Based on application, education and learning video content management to grow at a 12.7% CAGR from 2022-2032
- On-premises video content management deployment to grow at a CAGR of 12.8% until 2032
- China is expected to grow with a CAGR of 12.2% over the forecast period
- The U.S market is estimated to expand at a 12.4% CAGR during the forecast period
- Video content management market to experience over 3x growth until 2032
- U.K, Japan and South Korea markets to be valued at US$ 562.5 Million, US$ 780.1 Million and US$ 480.5 Million respectively
“Rising online video content demands with digital transformation in enterprises, surging the need to use video-based communication solutions to improve employee collaboration and communication,” says an FMI analyst.
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Competitive Landscape
Some of the market key players are IBM Corporation, Microsoft Corporation, Vimeo, Inc., Brightcove Inc., Panopto, Kaltura, Inc., Kollective Technology, Inc., Dalet Digital Media Systems, Qumu Corporation, VIDIZMO LLC., and others.
- IBM Corporation and Canon launched a new volumetric video technology in July 2021 to enable the creation of high-quality digital video content technology. The technology makes use of cameras and advanced data processing to enable a video point of view, providing viewers with a more immersive experience.
- Brightcove partnered with Wibbitz, a video creation tool provider, in July 2021 to enable Wibbitiz access to BrightCove’s video cloud platform. The platform allows users to create polished videos from scratch using Wibbitz’s templates and photos, animations, transitions, video clips, and other smart media, and then distribute the videos to any other device via the Brightcove platform.
- Qumu Corporation partnered with JS Group, headquartered in Florida, United States, in August 2021. Qumu Corporation hopes to launch a global channel program as a result of this collaboration. The program provides operational support, customer benefits, and incentives to assist the company in expanding its penetration in small, medium, and large businesses.
- Vimeo Create, a suite of tools for creating professional quality videos for small businesses, was introduced in February 2020. To create a high-quality video for its users, the new product combines smart editing technology with an intuitive interface and access to a gallery of professionally designed video templates and other editing tools.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global video content management market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study provides essential insights on the basis of component (platform, services), deployment model (cloud and on-premise), application (education and learning, enterprises communication, marketing and client engagement, recruitment and training and virtual events), and industry vertical (BFSI, IT & telecom, healthcare & life sciences and education) across five major regions (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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Key Segments Covered in the Video Content Management Market Report
Video Content Management Market by Component:
- Video Content Management Platforms
- Video Content Management Services
Video Content Management Market by Deployment Mode:
- On-premise Video Content Management
- Cloud-based Video Content Management
Video Content Management Market by Application:
- Education and Learning Video Content Management
- Enterprise Communication Video Content Management
- Marketing and Client Engagement Video Content Management
- Recruitment and Training Video Content Management
- Virtual Events Video Content Management
Video Content Management Market by Vertical:
- Video Content Management for BFSI
- Video Content Management for IT and Telecom
- Video Content Management for Healthcare and Life Sciences
- Video Content Management for Education
- Video Content Management for Media and Entertainment
- Video Content Management for Retail and Ecommerce
- Video Content Management for Other Verticals
Video Content Management Market by Region:
- North America Video Content Management Market
- Latin America Video Content Management Market
- Europe Video Content Management Market
- Asia Pacific Video Content Management Market
- Middle East & Africa Video Content Management Market
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