The Video Streaming Software Market is projected to grow from USD 13.3 billion in 2024 to USD 29.7 billion by 2029 at a CAGR of 17.5% during the forecast period. This growth is primarily driven by the increasing penetration of mobile devices and internet users, fueling the demand for video streaming software.
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Key Growth Factors
Connected Devices Segment: The other devices segment within the connected devices category is expected to grow at the highest CAGR during the forecast period. This segment includes voice-activated devices, home theatres, and in-car entertainment systems. The integration of smart speakers, virtual assistants, and in-car entertainment systems has revolutionized how users access and consume video content, contributing significantly to the market growth.
Streaming Type: Video-on-Demand (VOD): The video-on-demand segment holds the largest market share during the forecast period. VOD streaming has transformed entertainment consumption patterns, driven by the proliferation of high-speed internet and widespread adoption of smartphones and smart TVs. Major players in the VOD market, such as Netflix, Amazon Prime Video, Disney+, Hulu, and HBO Max, offer diverse content libraries, fueling market expansion. The rise of niche streaming services and technological advancements in streaming devices have further supported the growth of VOD streaming.
Regional Insights: Asia Pacific Growth
The Asia Pacific region is projected to experience the highest CAGR in the video streaming software market during the forecast period. This growth is attributed to the region's high population, increasing number of mobile devices, and diverse demand for content genres. The transition from traditional to online TV viewership is accelerating, supported by telecom companies, 5G technology, and the shift towards cost-effective ad-based subscription models. The region's entertainment market is expected to grow significantly, providing ample opportunities for both international and local streaming platform providers.
Key Market Players:
Major players in the video streaming software market include IBM (US), Brightcove (US), Kaltura (US), Edgio (US), Vimeo (US), Agile Content (Spain), Haivision (Canada), Panopto (US), Enghouse (Canada), Akamai (US), Netgem Group (France), Dailymotion (France), Hive Streaming (Sweden), Blue Billywig (Netherlands), JW Player (US), Wowza (US), Vbrick (US), movingimage (Germany), Vidizmo (US), Kollective Technology (US), Dacast (US), MediaPlatform (US), CONTOUS TECH (US), VIXY (Netherlands), uStudio (US), Vidyard (Canada), SproutVideo (US), Castr (Canada), and Muvi (US).
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