Video Streaming Software Global Market Report 2024

The video streaming software market size has grown rapidly in recent years. It will grow from $9.29 billion in 2023 to $10.96 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth observed in the historical period can be attributed to several key factors. The proliferation of high-speed internet significantly expanded access to streaming content, facilitating the rise of over-the-top (OTT) platforms that deliver content directly over the internet. Increased smartphone adoption played a pivotal role by providing users with convenient access to streaming services on mobile devices. Content digitization transformed traditional media into digital formats, making it more accessible and adaptable to online platforms. Moreover, the global expansion of streaming services widened their reach, tapping into new markets and diverse audiences.

The video streaming software market size is expected to see rapid growth in the next few years. It will grow to $22.7 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. Anticipated growth in the forecast period within the streaming industry is expected to be driven by several key factors. The emergence of interactive and immersive content will revolutionize user engagement, offering more personalized and engaging experiences. The global expansion of regional platforms will continue to diversify content offerings, catering to specific regional preferences and cultures. Dynamic ad insertion techniques will enhance targeted advertising, optimizing revenue streams for streaming platforms. Furthermore, evolving monetization strategies will be crucial for sustaining growth and profitability, exploring various models beyond subscriptions.

The video streaming software market is burgeoning, driven by the rising demand for video-on-demand (VoD) services. The surge in VoD platforms such as Netflix, video communication apps such as Zoom, and social platforms such as TikTok and esports are fueling this growth. In the US alone, video streaming subscriptions surged to 83% in 2023 from 78% in 2021, underscoring the growing demand for VoD services and propelling the video streaming software market's expansion.

High internet penetration is expected to steer the growth of the video streaming software market. The internet, connecting billions worldwide, supports video streaming software, enabling real-time and on-demand access to video content. Projections for 2023 estimate 5.3 billion internet users globally, exceeding 65% of the world's population. This number is anticipated to reach 6.54 billion by 2025, highlighting the significant role of high internet penetration in driving the video streaming software market.

The video streaming software market also witnesses a drive towards technological innovation to elevate the user experience. Amazon's July 2021 release of a live streaming service, powered by Twitch's technology, empowers content creators and developers to live stream videos seamlessly across web and mobile applications. Amazon's Interactive Video Service (IVS) ensures low-latency, high-quality streaming across diverse platforms and devices, catering to evolving consumer demands for seamless video content delivery.

Amidst the competitive landscape of video streaming software, major corporations concentrate on crafting distinctive streaming applications, such as studio apps. These software tools equip creators with multimedia production capabilities, often emphasizing audio, video, or graphic design functionalities. A prime example surfaced in May 2022 when Pinterest introduced its TV Studio live streaming app for Android and iOS. This app grants selected video creators access to multi-device support for varied camera angles, initially accessible via code entry or barcode scanning within a limited user group.

In July 2021, Carlyle, a US-based investment firm, acquired LiveU, a US-based provider of live video streaming and remote production solutions. This acquisition is poised to facilitate LiveU's expansion into new verticals and strengthen relationships with key media broadcasters, notably in live sports, aligning with the growing demand for live content and enabling targeted growth through mergers and acquisitions.

Major companies operating in the video streaming software market report are Apple Inc., Agile Content, International Business Machines Corporation (IBM), Akamai Technologies Inc., Polycom Inc., Ramp Holdings Inc., Vimeo Livestream, Southern Cross Media Group Limited, Uscreen Inc., Brightcove Inc., Kaltura Inc., Haivision Systems Inc., JW Player, Ooyala Inc., Vidyard Inc., Qumu Inc., Panopto, Bitmovin AG, NCH Software Inc., Streamroot, Cincopa LLC, Livestream Inc., Resi, Wowza Media Systems LLC, TikTok Live, Mirillis Ltd., StreamShark, Zixi Software Inc., Limelight Networks Inc., 24live, Cloudinary Inc., Dacast, Dailymotion SAS, Flowplayer AB, GUDSHO, Instagram Live, MediaPlatform Inc., Muvi LLC, Mux Inc., Prismplus, Sonic Foundry, StreamForge Inc., Telestream LLC, Vbrick Rev, VideoHelix, Vidizmo Inc., VPlayed Inc., YouTube LLC.

North America was the largest region in the video streaming software market share in 2023. The regions covered in the video streaming software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the video streaming software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Video streaming software primarily encompasses two mainstream types such as live streaming and video-on-demand streaming. Livestreaming involves the concurrent recording and broadcasting of online streaming media in real-time. Components within this sphere consist of solutions and services, deployed through both cloud-based and on-premises infrastructures. Various industries utilize these streaming solutions, including media and entertainment, BFSI (Banking, Financial Services, and Insurance), academia and education, healthcare, and government sectors.

The video streaming software market research report is one of a series of new reports that provides video streaming software market statistics, including video streaming software industry global market size, regional shares, competitors with a video streaming software market share, detailed video streaming software market segments, market trends and opportunities, and any further data you may need to thrive in the video streaming software industry. This video streaming software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The volumetric video market includes revenues earned by entities by webcasts, movies, TV shows and music videos. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.