CHICAGO, Aug. 23, 2021 /PRNewswire/ -- According to a research report"Video Content Management System Marketwith 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 online 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 System 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.
Key Players:
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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