According to a research report "Video Content Management System Market with COVID-19 Impact by
Component Application (Education and Learning, Enterprise Communications,
Recruitment and Training, Virtual Events), Deployment Model, Industry Vertical
and Region - Global Forecast to 2026" published
by MarketsandMarkets, the global video content management system market size is
expected to grow at a Compound Annual Growth Rate (CAGR) of 14.0% during the
forecast period, to reach USD 6.8 billion by 2026 from USD 3.5 billion in 2021.
Key factors that are expected to drive the growth of the market are the growing
demand for onlin video content, adoption of cloud-based services by enterprises,
increasing number of internet users around the world and rise in demand for
video recording equipment and devices.
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Services segment to
grow at a higher CAGR during the forecast period
Based on the
component, the market is segmented into two categories: platform and services.
The market for services is expected to grow at a higher CAGR during the
forecast period. The growth is mainly attributed to the growing amount of video
content consumption and cloud-based video services. Services are necessary for
easy deployment, integration, and proper functioning of the video content
management system. The services segment has been further segmented into
training & consulting, support & maintenance, and implementation and
integration. Services are necessary for easy deployment, integration, and
proper functioning of the software.
On-premises segment
to account for a higher market share during the forecast period.
The video content
management syste market is segmented by deployment mode into on-premises and
cloud. The on-premises segment account for a higher share of the video content
management system market during the forecast period as large enterprises
largely adopt on-premises video content management system solutions to have
full control over their infrastructure and data; and upkeep their robust
security of data pertaining to integration with internal company systems such
as customer relationship management, employee management system, and sales
management system. While the private cloud model is gaining popularity in
organizations to overcome security and data privacy challenges.
Education vertical
to grow at a higher CAGR during the forecast period.
Education is one of
the fastest-growing verticals as the industry is undergoing extensive
development, with advancements in technologies, thereby enhancing the overall
industry vertical. The education segment has increased the adoption of video
content management system platforms, giving it the highest market share. The
education segment includes the higher education category and K-12. With the
rise in education shifting online where schools and colleges and other types of
educational gatherings have closed, the creation of video content has increased
three-folds. According to industry experts, the Increasing adoption of digital
platforms by educational institutes is expected to generate vast opportunities
for industry players over the forecast period.
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APAC to grow at a
higher CAGR during the forecast period.
The growth of the
video content management system market in the APAC region is attributed to
various factors such as the proliferation of smart devices; high-speed internet
connectivity; rise in digitalization of enterprises economic growth, and
growing foreign investments in economies, such as India, Indonesia, Malaysia;
and presence of high growth economies, such as Australia, Japan, China, South
Korea. The developed countries in this region are expected to experience
significant growth because of greater technological infrastructure. The
developing countries are gradually advancing toward using video streaming
platforms to advance and streamline their business processes. The densely
populated countries, such as India and China, are gradually advancing toward
video streaming monetization models to advance and streamline their business
processes. In the past few years, the inclination of the audience toward global
video content is offering growth opportunities to VoD players, such as Netflix,
Amazon Prime Video, Yoku Tudou, iQiyi, Tencent Video, LeTV, Hooq, iFlix,
YuppTV, BoxTV, and Hotstar, resulting in increased demand for video content
management system solutions, such as video analytics, delivery, and security.
Video content
manangement system report comprises major providers, such as IBM(US),
Vimeo(US), Microsoft(US), BrightCove(US), Panopto(US), Kaltura(US), Sonic
Foundry(US), Kollective(US), Vidyard(US), Cloudapp(US), Haivision(US), Dalet
Digital Media Systems(France), MediaPlatform(US), Poly(US), Qumu(US),
Vidizmo(US), VBrick(US), Telestream(US), Dacast(US), JW Player(US),
Renderforest(Armenia), BigCommand(US), Genus Technologies(US), and Boxcast(US).
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