The research forecasts growth for the global video streaming software market
Video streaming software market to more than double by 2025. Source: unsplash.com
According to Reportlinker.com, the global video streaming software market size is expected to grow from $6.1 billion in 2020 to $15 billion by 2025. That’s a 19.7% increase at a CAGR during the forecast period.
The report highlights that rising demand for VoD streaming and transcoding along with the COVID-19 pandemic drive the boost of video streaming software market.
North America witnessed the earliest cloud and mobile technologies’ adoption. It has been significantly responsive to the adoption of video streaming services.
Besides, North America is expected to encourage market growth, as large enterprises and SMEs are focused on developing innovative video streaming solutions. They are mostly integrated with technological advancements, such as video analytics, AI, and Machine Learning.
Currently, North America is the largest contributor in terms of revenue, as compared to the other regions:
- North America – 42%
- Europe– 31%
- APAC– 16%
- Rest of the World – 11%
We’ve reported that the number of TV streaming accounts will reach 1.1 billion in 2020, surpassing traditional pay TV accounts for the first time.
SEE ALSO:
