According to a research report "Video Content Management System Market with COVID-19 Impact byComponent Application (Education and Learning, Enterprise Communications,Recruitment and Training, Virtual Events), Deployment Model, Industry Verticaland Region - Global Forecast to 2026" publishedby MarketsandMarkets, the global video content management system market size isexpected to grow at a Compound Annual Growth Rate (CAGR) of 14.0% during theforecast period, to reach USD 6.8 billion by 2026 from USD 3.5 billion in 2021.Key factors that are expected to drive the growth of the market are the growingdemand for onlin video content, adoption of cloud-based services by enterprises,increasing number of internet users around the world and rise in demand forvideo recording equipment and devices.
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Services segment togrow at a higher CAGR during the forecast period
Based on thecomponent, the market is segmented into two categories: platform and services.The market for services is expected to grow at a higher CAGR during theforecast period. The growth is mainly attributed to the growing amount of videocontent consumption and cloud-based video services. Services are necessary foreasy deployment, integration, and proper functioning of the video contentmanagement system. The services segment has been further segmented intotraining & consulting, support & maintenance, and implementation andintegration. Services are necessary for easy deployment, integration, andproper functioning of the software.
On-premises segmentto account for a higher market share during the forecast period.
The video contentmanagement syste market is segmented by deployment mode into on-premises andcloud. The on-premises segment account for a higher share of the video contentmanagement system market during the forecast period as large enterpriseslargely adopt on-premises video content management system solutions to havefull control over their infrastructure and data; and upkeep their robustsecurity of data pertaining to integration with internal company systems suchas customer relationship management, employee management system, and salesmanagement system. While the private cloud model is gaining popularity inorganizations to overcome security and data privacy challenges.
Education verticalto grow at a higher CAGR during the forecast period.
Education is one ofthe fastest-growing verticals as the industry is undergoing extensivedevelopment, with advancements in technologies, thereby enhancing the overallindustry vertical. The education segment has increased the adoption of videocontent management system platforms, giving it the highest market share. Theeducation segment includes the higher education category and K-12. With therise in education shifting online where schools and colleges and other types ofeducational gatherings have closed, the creation of video content has increasedthree-folds. According to industry experts, the Increasing adoption of digitalplatforms by educational institutes is expected to generate vast opportunitiesfor industry players over the forecast period.
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APAC to grow at ahigher CAGR during the forecast period.
The growth of thevideo content management system market in the APAC region is attributed tovarious factors such as the proliferation of smart devices; high-speed internetconnectivity; rise in digitalization of enterprises economic growth, andgrowing foreign investments in economies, such as India, Indonesia, Malaysia;and presence of high growth economies, such as Australia, Japan, China, SouthKorea. The developed countries in this region are expected to experiencesignificant growth because of greater technological infrastructure. Thedeveloping countries are gradually advancing toward using video streamingplatforms to advance and streamline their business processes. The denselypopulated countries, such as India and China, are gradually advancing towardvideo streaming monetization models to advance and streamline their businessprocesses. In the past few years, the inclination of the audience toward globalvideo content is offering growth opportunities to VoD players, such as Netflix,Amazon Prime Video, Yoku Tudou, iQiyi, Tencent Video, LeTV, Hooq, iFlix,YuppTV, BoxTV, and Hotstar, resulting in increased demand for video contentmanagement system solutions, such as video analytics, delivery, and security.
Video contentmanangement system report comprises major providers, such as IBM(US),Vimeo(US), Microsoft(US), BrightCove(US), Panopto(US), Kaltura(US), SonicFoundry(US), Kollective(US), Vidyard(US), Cloudapp(US), Haivision(US), DaletDigital Media Systems(France), MediaPlatform(US), Poly(US), Qumu(US),Vidizmo(US), VBrick(US), Telestream(US), Dacast(US), JW Player(US),Renderforest(Armenia), BigCommand(US), Genus Technologies(US), and Boxcast(US).
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