The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Video Streaming Software Market Size. The growth sectors of the Video Streaming Software Market Size are identified with precision for a better growth perspective.
In recent times the Video-as-a-service (VaaS) has become extremely popular amongst enterprise owners. Its usage has become commonplace thanks to its feasibility over other options. But the fact to be noted is that the widespread usage of VaaS has also turned out to be beneficial for the global video streaming market. According to research report published by MRFR (Market Research Future) the video streaming software market will witness phenomenal progress during the forecast period of 2017-2023.
Video streaming software can enable individuals to have a real-time view of the content that has been uploaded on the internet in a compressed form. Some of the most common examples are Netflix, Hulu, Youtube and ITunes. All of these have gained immense recognition amongst the online viewers.
Currently, people have started switching from television to online mediums to entertain themselves. And thanks to this fact it can be confidently asserted that the global market for video streaming software will experience tremendous growth in the forthcoming years. The market is expected to make a huge turnover by the end of the forecast period. The CAGR too looks promising at 18%.
The craze for online videos is on an all-time high at present. This fact can be characterized as one of the major growth contributors for the market. The increased demand for on-demand video streaming further fosters the growth of this market.
Although, the market may have to face certain minor restraints like technical flaws and network connectivity issues. Efforts are underway regarding these concerns and soon enough a solution will be found.
The worldwide market for video streaming software has been segmented into four equal portions. All of these parts and their respective sub-segments are listed below:
Verticals – BFSI, education, media & entertainment, healthcare and government. The education sub-segment will be the one with power during this forecast term and it will grow at an unprecedented rate.
Components – Service and solution. Solution is further segmented into video management, video security, transcoding & processing, video delivery & distribution and video analytics. Amongst these the video analytics segment will have an upper hand and it will expand enormously over the forecast period.
Deployment – On –premise and on-cloud.
Streaming Type – Live streaming and video-on demand streaming. Out of them the live-streaming sub-division is anticipated to govern the market as it has struck a chord with the masses and they enjoy using it.
The video streaming software market spans across various areas of the world. Some of the major ones can be listed as North America, Asia Pacific, Europe and Rest of the World.
After observing the growth strategies the report by MRFR (Market Research Future) concluded that North America accounts for the largest share of the market. It is because individuals of this region use video-streaming on a regular basis. Additionally this area also boasts of the presence of major market players and lump sum investments in video streaming services.
Video Streaming Software Market is expected to grow at a CAGR of approximately 18% during the…
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