Press Release
Press Release
According to a new report by EMR titled, ‘Global Video Streaming Software Market Report and Forecast 2024-2032’, the global video streaming software market attained a value of more than USD 8.86 billion in 2023. The market is further expected to grow at a CAGR of 19.5% during the forecast period of 2024-2032 to reach above USD 44.20 billion by 2032.
The growth in the global market for video streaming software can be associated with the increasing use of transcoding to deliver videos to a large number of end-users. With the help of transcoding, digital creators can spread their videos to a large database of viewers, which then augments the viewership of this software, thus boosting the market growth. Advanced solutions like data analytics are further catalysing the market growth of video streaming software. Video analytics, as a solution, is being rapidly deployed by market players to derive information regarding consumer preferences, network stability, boot time, and feedback, among others, to arrive at enhanced services to streamline the consumer experience. Driven by Artificial Intelligence (AI) and Machine Learning (ML), video analytics help software providers to constantly improve their performance and augment the market growth of video streaming software.
The market growth is expected to be driven by expansion strategies regarding software development by leading players like IBM Corporation (NYSE: IBM) and Telestream. Telestream, a global leader in the market of video streaming software, recently announced the launch of a new cloud-native QC service in September 2021. The Telestream Cloud Qualify is a native QC service built from the best of Telestream’s Vidchecker and Aurora QC technology and optimized for cloud workflows. The new service provides proven and trusted media QC tools in a highly flexible Software as a Service (SaaS) model. In addition, the cloud qualify is a file-based QC service that runs on a customer’s cloud provider of choice. The technology is developed to cater to the rising consumer demand to scale up or shift load into the cloud with enhanced flexibility and security.
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The major players in the global video streamline software market are IBM Corporation, Kaltura, Inc., Panopto, Inc., Brightcove, Inc., and Vimeo, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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