Video Streaming Software Market worth $29.7 billion by 2029 - Exclusive Report by MarketsandMarkets™
Increasing penetration of mobile devices and internet users will boost the growth of the video streaming market during the forecast period.
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270 - Tables
68 - Figures
300 - Pages
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Scope of Report
By connected devices, the other devices segment will grow at the highest CAGR during the forecast period.
The other devices include voice-activated devices, home theatres, and in-car entertainment systems. Smart speakers and virtual assistants have streamlined the process of searching for and playing video content, offering hands-free convenience to users. In-car entertainment systems have transformed vehicles into mobile entertainment hubs, enabling passengers to enjoy streaming services during their commutes or road trips. Meanwhile, home theaters provide an immersive viewing experience, prompting streaming platforms to enhance their offerings with high-definition content and surround sound support. As these technologies become more integrated into everyday life, the demand for seamless and accessible video streaming software continues to rise, driving innovation and competition within the market.
By streaming type, the video-on-demand segment holds the largest market share during the forecast period.
Video-on-demand (VOD) streaming has revolutionized how people consume entertainment, becoming a cornerstone of the video streaming software market. With the proliferation of high-speed internet and the widespread adoption of smartphones and smart TVs, VOD platforms have experienced exponential growth. As per a survey by Wyzowl in 2023, 91% of businesses use video as a marketing tool. Major players in the VOD streaming landscape include Netflix, Amazon Prime Video, Disney+, Hulu, and HBO Max, among others. These platforms offer a vast library of content, ranging from movies and TV shows to documentaries and original programming, catering to diverse audience preferences.
Additionally, the convenience of VOD has spurred the growth of niche streaming services catering to specific interests such as anime, sports, or independent films, further expanding the market's reach. Moreover, technological advancements, including the development of streaming devices like Roku, Apple TV, and Chromecast, have made accessing VOD content effortless, contributing to its widespread adoption. As competition intensifies in the streaming landscape, providers invest heavily in original content production and personalized recommendations to enhance user engagement and retention.
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By Region, Asia Pacific will grow at the highest CAGR during the forecast period.
The video streaming software market in Asia Pacific is expected to grow at the highest rate of all the regions due to the increasing enterprise workloads. Asia Pacific includes developed and developing economies, such as China, Japan, India, Australia, New Zealand, Malaysia, and the rest of Asia Pacific. The demand for online video streaming platforms is higher than in other regions, with Asia Pacific having the highest population. With a high population, the number of available mobile devices also increases, resulting in increased demand for streaming content. There is a vast scope for international and local streaming platform providers as the demand for content genres is diverse. The Asia Pacific region is a mix of developed and developing countries, making the entry of new players into the market quite possible. According to secondary data, the entertainment market in Asia-Pacific is expected to go from $1.23 trillion in 2023 to $1.55 trillion by 2028, with more demand for fast and easy communication, digital fun, and wireless connections.
The shift from traditional to online TV viewership has occurred in APAC, indicating a favorable landscape for introducing cost-effective ad-based subscription models. Telecom companies are central to this change, shaping how entertainment develops across Asia-Pacific. Streaming providers are exploring new opportunities such as OTT aggregation, advertising, sports content, and leveraging 5G technology to drive further growth in the (Asia Pacific) APAC market.
Top Companies in Video Streaming Software Market
Some of the key players operating in the Video Streaming Software Market are – IBM (US), Brightcove (US), Kaltura (US), Edgio (US), Vimeo (US), Agile Content (Spain), Haivision (Canada), Panopto (US), Enghouse (Canada), Akamai (US), Netgem Group (France), Dailymotion (France), Hive Streaming (Sweden), Blue Billywig (Netherlands), JW Player (US), Wowza (US), Vbrick (US), movingimage (Germany), Vidizmo (US), Kollective Technology (US), Dacast (US), MediaPlatform (US), CONTOUS TECH (US), VIXY (Netherlands), uStudio (US), Vidyard (Canada), SproutVideo (US), Castr (Canada) and Muvi (US).
Recent Development
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Video Streaming Software Market Advantages
Report Objectives
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