Video Streaming Software Market and its Key Opportunities and Challenges
The Video Streaming Software Market size to grow from USD 3.25 billion in 2017 to USD 7.50 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%, as per a report by MarketsandMarkets.
Why optimization of network bandwidth is an opportunity?
Large enterprises are extensively using videos for corporate training, executive communication, event streaming, and knowledge sharing. According to Cisco‘s IBSG Horizons Study, over 65% business executives predict a rapid increase in the use of one-way videos over the coming years All these factors are expected to lead to more network bandwidth consumption by video content. Hence, there is a huge need for optimization of network bandwidth by corporates. Video Content Management (VCM) solutions provide a cost-effective infrastructure to mitigate the problem. VCMs often deliver streamed videos in chunks. This helps the video content to sync well with caching proxies deployed across the Wide Area Networks (WANs). WAN caching framework enables minimizing the overall bandwidth consumption. VCM can use adaptive bitrate streaming to deliver on-demand and live videos. The adaptive bitrate analyzes the viewers’ bandwidth in real-time and adjusts the video quality accordingly. This enables viewers to watch buffer-free videos.
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How concerns over security and privacy of video content remains a challenge?
With the increasing use of video streaming solutions for watching movies and advertisements, there is a rise in the risk of viruses and cyber-attacks. Often, users send and receive various video links to one another, which are sometimes corrupted by potent viruses. Ultimately, these viruses can potentially expose private details of the recipients to malicious hackers, as they affect devices of all recipients. The security of video content has become crucial. Video streaming solution providers need to develop and provide secure video streaming solutions to users. Security and privacy of the video content shared across various platforms is among the major concerns. At the same time, there are also concerns related to copyrights and digital rights mismanagement, which can arise due to misuse and information leakage. In order to counter such challenges, enterprises need to restructure their strategies of employing enterprise video offerings before use. In the absence of apparent policies and procedures for properly identifying and managing the video content, enterprise video may face a sluggish adoption rate.
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The major vendors providing video streaming software solutions are Brightcove, Inc. (Boston, US), Haivision, Inc. (Montreal, Canada), IBM Corporation (New York, US), Kaltura, Inc. (New York, US), Kollective Technology, Inc. (Bend, US), Ooyala, Inc. (Santa Clara, US), Panopto (Pittsburgh, US), Polycom, Inc. (San Jose, US), Qumu Corporation (Minneapolis, US), Sonic Foundry, Inc. (Madison, US), VBrick (Herndon, US), and Wowza Media Systems, LLC (Colorado, US).
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