Video Streaming Market Expected to Witness a Sustainable Growth over 2022
Video streaming technology facilitates thetransmission of video files with the help of streaming transcoders, streamingservers, and other related software, to provide uninterrupted videos to theviewers. Concerns over the security and privacy of the video content can beseen hindering the growth of the video streaming market, but this is expectedto be impactful for a short period only. MarketsandMarkets expects the globalvideo streaming software market size to grow from USD 3.25 Billion in 2017 toUSD 7.50 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%.
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Companies such as Brightcove, Inc., Haivision, Inc.,IBM Corporation, Kaltura, Inc., Kollective Technology, Inc., Ooyala, Inc.,Panopto, Polycom, Inc., Qumu Corporation, Sonic Foundry, Inc., VBrick, andWowza Media Systems, LLC have created leading video streaming software andplatforms to cater to the needs and demands of the video streaming softwaremarket. These players have adopted various growth strategies, such asacquisitions, agreements, partnerships, and new product launches.
The key market players are entering intocollaborations and partnerships to provide innovative offerings and increaseprofitability. For instance, IBM Corporation adopted the strategies ofpartnerships, acquisitions, and new product launches. In April 2016, IBMpartnered with the CBC, Canada’s national public broadcaster, to deploy itsCloud Video Clearleap platform, which will enable CBC to providenext-generation, ad-supported streaming video services to Canadian customers
Wowza Media Systems adopted the strategies ofpartnerships, new product launches, and product upgradations to expand itsmarket presence. In April 2017, Wowza released new updates of its Wowza StreamingEngine (version 4.7) and Wowza Streaming Cloud Service. These updates wereaimed to assist broadcasters to deliver large-scale streams to global audiencesthrough Content Delivery Networks (CDNs) and Facebook Live. The updates alsoimproved the monitoring and resiliency of streaming workflows.