The global video streaming software market is poised for substantial growth, with projections indicating a rise from a current valuation of USD 6.9 billion in 2024 to an estimated USD 18.38 billion by 2034. This expansion reflects a robust Compound Annual Growth Rate (CAGR) of 10.20%, driven by increasing consumer demand for simplified, user-friendly streaming solutions.
A recent report from Future Market Insights highlights significant opportunities and growth prospects in the video streaming software ecosystem for the coming decade. The market’s growth trajectory underscores the evolving preferences of consumers, who seek seamless and accessible video streaming experiences.
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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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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