Broadcast And Internet Video Software Market Size, Share, Growth and Industry Analysis by Type (Broadcast, And, Internet Video Software), By Application (Media and Entertainment, Sports and Gaming, And, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Broadcast And Internet Video Software Market REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

global broadcast and internet video software market size was USD 12883.01 million in 2021 and market is projected to touch 64063.2 Million by 2031, exhibiting a CAGR of 17.4% during the forecast period.

Broadcast and internet video software are two types of softwares which are used for the purpose of providing video content to a very large number of people. Broadcasting software is mostly used by traditional television stations for transmitting the programs over airwaves. Whereas, internet video softwares are used for sharing any type of content throughout the internet.

Video conferencing tools have become the need of the hour as most of the companies as well as educational institutions are becoming increasing dependent on them to carry out their operations. This is considered as the latest trend in the market.

High speed internet, increasing adoption of gadgets, implementation of advancing technologies like artificial intelligence, machine learning, virtual and augmented reality will improve the scope of the market. All of these factors have played an important role in increasing the broadcast and internet video software market share.

COVID-19 impact: Rise in Demand for Video Content During Lockdown Increased Market Growth

The pandemic of COVID-19 was the primary reason for the downfall of several markets. The outbreak of infectious coronavirus had a significant impact on several industries all over the world. Some industries faced severe challenges in continuing their operation whereas some of the sectors saw tremendous growth during this period of time.

Broadcast and internet video software market also experienced an increased demand during the pandemic because the demand for video content was high during this time. Most of the people stayed at their homes due to lockdowns, and social distancing norms. Increased leisure time increased the need for entertainment in the form of video content. All of these factors helped in the growth of the market even during the pandemic.

LATEST TRENDS

"Growing Requirement of Video Conferencing Tools to Increase Market Growth"

During pandemic most of the companies resorted to online mode of working. Schools, colleges, and universities also held online classes as conducting physical classes was not allowed. This factor increased the need for more efficient video conferencing tools, as most of organizations were highly dependent on them to continue their functioning.

Softwares like skype and zoom became highly popular during this period of time. People were increasing depending on broadcast and internet video softwares for entertainment and communication. This created a very drastic shift towards digital media. All of these are considered as the latest trend in the market.

Broadcast And Internet Video Software Market SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type:

The market can be divided on the basis of type into the following segments:

Broadcast, and, internet video software. The broadcast segment is projected to hold the dominant market share through 2031 the forecasting period.

• By Application:

The market can be divided on the basis of application into the following segments:

Media and entertainment, sports and gaming, and, others. Media and entertainment segment is predicted to dominate the market through 2031.

DRIVING FACTORS

"Availability of Good Network and High-Speed Internet to Amplify Market Growth"

Several companies have taken up initiatives to increased the quality and speed of the network. With the aid of technological advancements 5G networks are being introduced in the market. Very soon, a lot of people will be able to get access to internet that is very fast and completely uninterrupted. This factor can have a positive impact on the market growth and development.

The number of people owning and using gadgets and electronic devices like smartphones, laptops, computers, and tablets has also seen a significant rise in the recent days. Availability of data, and electronic devices will make it much easier to access content over the internet. Increasing penetration of social media and the implementation of advanced technologies like virtual reality and augmented reality are going to open up new opportunities for market growth.

"Incorporation of Artificial Intelligence and Augmented Reality to Drive Market Growth"

Implementation of new technologies will help in increasing the efficiency of several softwares. Along with incorporating virtual reality and augmented reality, industry players are focusing on using AI and ML to enhance the experience of the users. Artificial Intelligence and Machine Learning are two of the most effective technology tools that are being implemented in most of the sectors. 

With the aid of these technologies, many difficult procedures can be automated. Voiceover, translation, captioning, and editing can be performed with more precision and less time using these technologies. Therefore, many broadcasters are making use of them to render better experience to the customers. ML algorithms can be very helpful in analyzing and understanding viewer behavior. Based on this they recommend the personalized content to the viewers. All of these factors are propelling the broadcast and internet video software market growth.

RESTRAINING FACTOR

"Difficulty Faced by Traditional Broadcasters in Retaining Audience to Deteriorate Market Growth"

In spite of offering several benefits, broadcast and internet video softwares also have certain disadvantages that can have a negative impact on the market growth. One of them includes the difficulties being faced by traditional broadcasters in retaining their audience. There is a lot of competition in the market to get viewer’s time and attention.

Quality of the video content is a very important aspect ever broadcaster has to focus on. Without good content quality it will be become highly difficult to attract more viewers. Increasing the quality of the content can be expensive and may increase the overall cost involved. Concerns regarding privacy can be another difficulty all of these factors may hamper the market growth and development.

Broadcast And Internet Video Software Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America to Dominate Market in Upcoming Years "

North America is considered to be the leading share holder of the market during the research period. Severa favorable factors have helped in the growth of the market in this region. Some of them include the presence of the largest media and technology companies in the world.

United States even has the world’s largest media and technology company. The infrastructure of both traditional and modern broadcasting is highly developed in this region. Increasing users of internet and digital devices is expected to further drive the market share in this region. 

Key Industry Players

• StudioCoast Pty Ltd (Australia)
• BAM Technologies (U.S)
• Streambox Inc (U.S.)
• NCH Software (Australia)
• Cisco Systems (U.S)
• ARRIS International (U.S.)
• Accenture (Ireland)
• LIVEU INC (Israel)
• Accedo (Sweden)
• IBM Corporation (U.S.)
• Brightcove (U.S.)
• Imagine Communications Corp (U.S.)
• Comcast Technology Solutions (U.S. )
• Ericsson (Sweden)

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

Report Coverage

The report provides an insight into industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also lists the key industry players to understand the competition.