The global market for video streaming software is projected to reach USD 21.3 Billion by 2027 from USD 6.1 Billion in 2020, at a CAGR of 19.6 % from 2020 to 2027. The demand for video sharing applications is not only rising, it picking up. Video streaming refers to a compressed method of real-time viewing of the content sent over the Internet. Netflix, iTunes, Hulu, and YouTube's video streaming software services have gained considerable popularity among end users.
Online streaming services are increasingly creating a convenient way for users to consume VoD. Video analytics is gaining in importance among service providers who want to remain competitive and better understand and serve their audiences. By understanding what keeps audiences interested, a video analytics tool will not only help create and retain an audience but can establish new revenue opportunities. The data collected through analytics provides insights into how users consume media from an online video platform, and what they expect. Video analytics assists consumers by optimizing performance by measuring crucial performance indicators like setup time, bitrate, rebuffering, and lost frames, as well as media analysis. This indicates whether or not consumers get a glitch-free viewing experience. Video analytics offers data needed to improve and optimize the user interface with tailored content or upgraded functionality, thus increasing the enjoyment of the customer and recruiting new clients.
During the forecast period North America will account for the largest market size
The region-by-region global market for video streaming software covers 5 major geographic regions, namely North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. Thanks to the involvement of economically and technologically developed nations, such as the US and Canada, and emerging technologies, North America is projected to account for the highest market share over the forecast era.
VoD is a system that allows users on their televisions (TVs) or computers to pick and watch videos of their choosing. It provides a variety of content to consumers, thereby offering users the choice of consumption. It enables viewers to automatically request access to video content on their PCs or TVs. VoD solutions allow users to select and view various video content that can belong to different fields such as sports, entertainment, educational programs, and feature films. You can consume this choice of content via TVs, computers, smartphones, and advanced digital media devices. It can also be deployed both in the cloud and on-premises.
Report : Video Streaming Software Market - By Method Of Streaming (Live Streaming, Video on Demand Streaming), By Component (Solution, Service), By Deployment Type (Cloud, On-premises), By Vertical (Smart Manufacturing, Smart Energy and Utilities, Connected Logistics, Consumer Wearables, Connected Healthcare, Smart Government and Defence, Connected Vehicles, Smart Retail) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027