LONDON--(BUSINESS WIRE)--The video streaming software market size is poised to grow at a CAGR of over 19% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Digital transformation in industries such as telecom, education, and media and entertainment is driving the growth of the market. The emergence of advanced Internet technologies such as high-speed broadband and the introduction of low-latency video streaming services have changed user preference and propelled the adoption of new technologies. Moreover, the introduction of cloud services is enabling live video streaming service providers to transcode live streams in a timely manner and fulfill viewer’s demand for quality services. Thus, the transformation of digital infrastructure will drive the growth of the video streaming software market.
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As per Technavio, the increased application of AI, DL, and ML technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Video Streaming Software Market: Increased Application of AI, DL, and ML Technologies
Most live streaming services do not retain the streamed data on their servers. However software that allow users to capture live streams and save them as video files are available in the market. This poses a significant threat to the revenue generated by the market players. For instance, the live stream of HBO’s popular show, “Game of Thrones” resulted in the video piracy of the episodes. Hence, players operating in the global video streaming software market are leveraging technologies such as AI, DL, and ML to identify more efficient ways to encode, distribute, and organize data and thereby streamline the digital landscape. The penetration of these technologies is halting the copyright infringement of codes and regulating the streaming of illicit content. Thus, AI is anticipated to play a critical role in the streaming industry.
“Other factors such as the expansion in the variety of streaming content, and increasing number of video streaming service providers will have a significant impact on the growth of the video streaming software market value during the forecast period,” says a senior analyst at Technavio.
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Video Streaming Software Market: Segmentation Analysis
This market research report segments the video streaming software market geography (APAC, Europe, MEA, North America, and South America) and streaming type (video on demand and live).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. The growth of the video streaming software market share in North America can be attributed to several factors such as the growth of the media and entertainment, telecom, and education sector in the region. Moreover, increasing investments in smart classes, and rising demand for easily accessible software services are also contributing to the growth of the market.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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