It is expected that the market for video streaming software would grow at a remarkable CAGR of 10.2%, from US$ 5.9 billion in 2022 to US$ 12.87 billion by the end of 2030. The need for original video material is now growing rapidly in the broadcasting sector.
As a result, a number of companies and broadcasters are working to improve their video streaming services and software by producing original content to bolster their brands. Given that live video streaming is still in its infancy, the quantity and calibre of premium live content available on various platforms is expanding.
Viewers who were earlier watching live events and sports on TV have started to shift towards these platforms, mainly due to the availability of live video content as per their linking and convenience. This demand-side trend is working in favor of the growth of the video streaming software market, which is projected for nearly threefold growth over the next decade.
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Key Takeaways of Video Streaming Software Market Study
- For residential end-users, 4K or UHD video streaming software is becoming mainstream, and this trend is likely to grow with an increase in the availability of mobile devices that support these formats.
- Although some regions such as Latin America have limited broadband penetration and high levels of piracy, they show great potential in becoming over-the-top (OTP) video streaming software market leaders in the coming years, owing to the changing habits of end users.
- Although growth in the total number of video streaming subscriptions is slowing down in North America, consumption time or video streaming time per user continues to increase, as the content that is available to stream is constantly improving.
COVID-19 Pandemic Impact Analysis
Increasing cases of COVID-19 infections have forced governments across the world to legislate nationwide lockdowns. Citizens are required to stay indoors until the concerned authorities lift the lockdown orders. The first quarter (Q1) witnessed accelerated adoption of gaming and media platforms on a global level, as the need for digital entertainment rose among users.
Netflix and Amazon Prime, among other video streaming software and service providers, are registering increased influx of subscriptions, as the number of COVID-19 infections surge and strict lockdowns are legislated across the world. These lockdowns are propelling the adoption of video streaming software solutions, worldwide.
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More Valuable Insights on Video Streaming Software Market
Future Market Insights offers an unbiased analysis of the global video streaming software market, providing historical data of 2015-2021 and forecast statistics for 2022-2030.
Key Segment
Solution
- Software
- Services
Type
- Live Video Streaming Software
- Video-on-Demand (VoD)
- (Subscription) SVOD
- (Transactional) TVOD
- (Advertising) AVOD
- Others
Vertical
- Media and Entertainment
- Education
- Healthcare
- Banking and Financial Solutions
- Travel and Tourism
- Others
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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