Videostreaming technology facilitates the transmission of video files with the helpof streaming transcoders, streaming servers, and other related software, to provideuninterrupted videos to the viewers. Concerns over the security and privacy ofthe video content can be seen hindering the growth of the video streamingmarket, but this is expected to be impactful for a short period only.MarketsandMarkets expects the global video streaming market size to grow fromUSD 3.25 Billion in 2017 to USD 7.50 Billion by 2022, at a Compound AnnualGrowth Rate (CAGR) of 18.2%.
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The keyforces driving the video streaming market include the increasing traction ofVideo-as-a-Service (VaaS) in enterprises due to lower cost of ownership,extensive growth of online videos, and the growing needs for on-demand videostreaming services. Moreover, with the subsequent increase in the adoption rateof cloud-based video streaming software solutions and network bandwidthoptimization, the video streaming market is expected to gain a major tractionduring the forecast period.
Companiessuch as Brightcove, Inc., Haivision, Inc., IBM Corporation, Kaltura, Inc.,Kollective Technology, Inc., Ooyala, Inc., Panopto, Polycom, Inc., QumuCorporation, Sonic Foundry, Inc., VBrick, and Wowza Media Systems, LLC havecreated leading video streaming software and platforms to cater to the needsand demands of the video streaming software market. These players have adoptedvarious growth strategies, such as acquisitions, agreements, partnerships, andnew product launches.
The keymarket players are entering into collaborations and partnerships to provideinnovative offerings and increase profitability. For instance, IBM Corporationadopted the strategies of partnerships, acquisitions, and new product launches.In April 2016, IBM partnered with the CBC, Canada’s national publicbroadcaster, to deploy its Cloud Video Clearleap platform, which will enableCBC to provide next-generation, ad-supported streaming video services toCanadian customers
Wowza MediaSystems adopted the strategies of partnerships, new product launches, andproduct upgradations to expand its market presence. In April 2017, Wowzareleased new updates of its Wowza Streaming Engine (version 4.7) and WowzaStreaming Cloud Service. These updates were aimed to assist broadcasters todeliver large-scale streams to global audiences through Content DeliveryNetworks (CDNs) and Facebook Live. The updates also improved the monitoring andresiliency of streaming workflows.
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