Future Market Insights recent report on the video streaming software ecosystem highlights various opportunities and growth spots for the coming decade. As per the analysis, the Video Streaming Software market is set to account for a current valuation of USD 6.9 billion in 2024.
Reflecting on consumers’ expectations, video streaming software producers work on simpler labels with understandable ingredients, reinforcing continuous demand. Going by this pattern, demand could rise and equate to a market valuation of USD 18.38 billion, with a CAGR of 10.20% by 2034.
Attributes | Details |
---|---|
Market Value for 2024 | USD 6.9 billion |
Market Value for 2034 | USD 18.38 billion |
Market Forecast CAGR for 2024 to 2034 | 10.20% |
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In 2019, the global video streaming software market showed a potential worth USD 4.7 billion, according to a report from Future Market Insights (FMI). The video streaming software market witnessed significant growth, registering a CAGR of 8.0% from 2019 to 2023.
Historical CAGR | 8.0% |
---|---|
Forecast CAGR | 10.20% |
Technological advancements, such as the development of cloud-based streaming solutions and improved video compression algorithms, contributed to economic growth by enhancing the quality and accessibility of streaming content.
The video-streaming software market emerged as a lucrative segment within the entertainment industry, attracting investments and driving innovation across various streaming platforms and services.
The predicted CAGR for the video streaming software market from 2019 to 2023 is 8%. This accelerated growth rate underscores the ongoing evolution and development of the streaming industry.
Factors contributing to this forecasted growth include the boost in the adoption of subscription-based streaming services, new content delivery models such as over-the-top (OTT) platforms, and the growing demand for personalized and interactive viewing experiences.
The below section shows the leading segment. Based on the type, the live video streaming software segment is accounted to hold a market share of 59.1% in 2024. Based on vertical, the media and entertainment segment is accounted to hold a market share of 29.2% in 2024.
Live streaming empowers immediate communication and interaction between content creators and viewers, creating a sense of community and engagement.
With a shift towards digital content distribution and consumption platforms, media companies and entertainment providers encompass video streaming software for reaching audiences across various devices and platforms.
Category | Market Share in 2024 |
---|---|
Live Video Streaming Software | 59.1% |
Media and Entertainment | 29.2% |
Based on the device type, the live video streaming software segment stands out, capturing a significant market share of 59.1%. Live streaming offers immediacy and interactivity, enabling users to engage with events, news, and entertainment as they unfold.
Various factors, including the rise of social media platforms, the proliferation of live events, and the demand for real-time communication and engagement, boost the popularity of the segment.
Based on material, the media and entertainment segment is accounted to hold a market share of 29.2% in 2024. The market dominance is attributed to the widespread adoption of video streaming services by media companies, broadcasters, and content creators to distribute digital content to audiences globally.
A rightward shift can be seen towards digital platforms for content consumption. Media and entertainment companies leverage video streaming software to deliver on-demand and live content, including movies, TV shows, sports events, etc.
The economic growth is fueled by the development of over-the-top (OTT) streaming platforms, original content production, and partnerships with content creators, substantially enhancing the availability and accessibility of digital entertainment content for consumers worldwide.
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The table describes the top five countries ranked by revenue, with Australia holding the top position. Robust adoption of streaming platforms for entertainment dominates the video streaming software market in Australia.
With widespread access to high-speed internet and a tech-savvy population, consumers in Australia boost the demand for streaming services, leading to significant market growth and a thriving digital entertainment ecosystem.
Forecast CAGRs from 2024 to 2034
Countries | CAGR |
---|---|
United States | 7% |
Germany | 5.6% |
Japan | 4.9% |
China | 10.7% |
Australia | 13.7% |
In the United States, the video streaming software market is predominantly used for entertainment, with a significant focus on streaming movies, TV shows, and original content.
Major streaming platforms like Netflix, Hulu, and Disney+ are popular among American consumers, driving the demand for video streaming software.
The video streaming software market in Germany is utilized for entertainment, educational, and informational purposes. Streaming platforms offer a variety of content, including documentaries, news programs, and educational videos, catering to diverse audience preferences and interests.
In Japan, the video streaming software market is primarily used for entertainment, with a particular emphasis on anime and dramas telecasted by the actors of Japan.
Streaming platforms such as Crunchyroll and Netflix Japan offer a wide selection of anime titles and TV series from Japan, attracting domestic and international viewers.
In China, the market is used mainly for various purposes, including entertainment, education, and live streaming. With the popularity of video-sharing platforms like iQIYI, Tencent Video, and Douyin (TikTok), consumers of China engage in a wide range of video content, from movies and TV shows to live streams of gaming, sports, and educational content.
In Australia, the market is predominantly used for entertainment, similar to the United States. The consumers of Australia access streaming platforms to watch movies, TV series, and live sports events, contributing to the economic growth of the market and popularity in the country.
Strategic partnerships, original content production, and global expansion efforts are key tactics used for capturing market share and attracting subscribers. As the demand for digital entertainment continues to rise, competition intensifies, boosting the ongoing innovation and investment in the video streaming software market.
Some of the key developments
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 6.9 billion |
Projected Market Valuation in 2034 | USD 18.38 billion |
Value-based CAGR 2024 to 2034 | 10.2% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Type, Solution, Vertical, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | Disney Plus; IBM; Kaltura Inc.; Panopto; VUALTO; Netflix; Amazon Prime Video; Vbrick; Sonic Foundry; Kollective Technology, Inc.; YouTube TV |
As of 2024, the market for video streaming software is expected to be valued at USD 6.9 billion.
The video streaming software market is projected to expand at a CAGR of 10.20% between 2024 and 2034.
The live video streaming software segment is projected to dominate the industry.
By 2034, the market value of video streaming software is expected to reach USD 18.38 billion.
Australia is likely the top-performing market, with a CAGR of 13.7%.
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