The global video streaming market size is expected to grow from USD 6.1 billion in 2020 to USD 15.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period. The major factors driving the growth of the video streaming software market include increasing penetration of mobile devices and internet users, and growing demand for VoD streaming, impact of COVID-19 pandemic and growing need for transcoding to deliver videos to maximum end users.
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Major video streaming vendors include IBM (US), Brightcove (US), Kaltura (US), Qumu (US), Panopto (US), Haivision (Canada), VBrick (US), Wowza (US), SproutVideo (US), Vimeo (US), Dacast (US), Sonic Foundry (US), MediaPlatform (US) and Agile content (US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the video streaming software market. Product enhancements and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
Brightcove is one of the leading players in the video streaming market. Currently, Brightcove is working toward enhancing its market share and presence with the help of inorganic and organic growth strategies, such as acquisition, partnership and product enhancements. For instance, in April 2019, Brightcove acquired Ooyala’s Online Video Platform business. The strategic acquisition strengthened Brightcove’s position in the market in the online video industry. Ooyala’s technology was integrated into the Brightcove platform to provide wide offerings for all customers. This acquisition helped Brightcove to accelerate their speed of innovation and provide deeper support for all of its customers.
Kaltura is a growing player in the video streaming market. The company is focusing on organic and inorganic growth strategies to improve its position in the video streaming software industry. For instance, in July 2019, Kaltura launched a new advanced video analytics solution/feature for its video platform. The new launch focused on new viewing, engagement, and creation dimensions with detailed dashboards that provide actionable insights on audience engagement. Organizations can leverage this to gain further insights into user engagement and interaction with video content. The company also launched real-time monitoring dashboards for its enterprise CDN, webcasting, and live products.
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