According to a new market report published by Transparency Market Research, the global video live streaming solutions market was valued at US$ 1,088.8 Mn in 2016 and is expected to expand at a CAGR of 17.6% from 2018 to 2026, reaching US$ 5,380.9 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the video live streaming solutions market in 2016.
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Growing availability and supply of real time content driving the global video live streaming solutions market
The global video live streaming solutions market is expected to witness considerable growth due to the increasing availability and supply of real time content. Viewers/internet users spend more time on digital video than on social media. YouTube no longer holds the monopoly on video influencers and creators. More and more live streaming solutions are appearing every day. Video live streaming solutions are gradually gaining popularity nowadays as people are giving more importance to online streaming services rather than traditional TV.
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The number of viewers is also increasing with the growing availability of real time content such as FIFA World Cup, Olympics, Academy Awards, and many more,. Thus, the rise in user demand as well as developments in networks would support this growth. Leading content providers are planning to provide new live streaming services to compete with other streaming solution leaders such as Wowza, Livestream, and Telestream. In addition, with advancements in broadband services, data access to stream live videos has been increasing greatly, enabling viewers to experience improved video quality without any lag in real time.
Video Live Streaming Solutions Market: Scope of the Report
The global market for video live streaming solutions has been segmented on the basis of component, software solutions, industry, and geography. Based on component, the market has been segmented into software and services. The software market is segmented into on-premise and cloud. Furthermore, the cloud segment is classified into public, private, and hybrid. The services segment is further classified into professional service and managed service. The services segment is anticipated to expand at the highest growth rate due to increasing demand for services such as consulting, integration, and maintenance. In terms of software solution, the market can be bifurcated into editing and transcoding, delivery and distribution, analytics, video security, publishing, captioning, and archiving. Editing and transcoding is anticipated to hold the largest market share during the forecast period.