DUBLIN–(BUSINESS WIRE)–The “Global 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 – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
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.
The COVID-19 Impact on the global video content management system market
The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems. COVID-19 impacts are foreseen to shift consumer demand to online channels. This may irreversibly change customer behavior as once people get into the habit of shopping online, it becomes a routine, and it is hard to get away from it easily, forcing companies to escalate their online presence. There was an immediate and widespread impact of COVID-19 on customer behavior across all industries. Education industry has been the most affected by the impact of pandemic when it comes to publishing and distributing content to students and employees. Organizations across different verticals are leaveragin video content management systems due flexibility of managing large video files, enhances corporate communication and offer opportunities for promotion, marketing and address live audiences.
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.
North America to account for the highest market share during the forecast period.
The video content management system market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall video content management system market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. North America accommodates various technological innovations due to the fast adoption of new and advanced technologies. America witnessed the earliest adoption of smartphone technology and other mobile devices, which has been significantly responsive to the adoption of video content management system solutions. Video content production is the highest in the region.
Market Dynamics
Drivers
Growing Demand for Online Video Content
Adoption of Cloud-Based Services by Enterprises
Increasing Number of Internet Users Around the World
Rise in Demand for Video Recording Equipment and Devices
Restraints
Data Security and Privacy Concerns
Network Connectivity and Infrastructure Issues
Opportunities
5G to Boost Adoption of Video Content Management System
Rising Usage of Video Content for Marketing Among Smes
Challenges
Limited Interoperability of Different Video Conferencing Solutions
Poor Internet Speed Reducing the Quality of Service
Companies Mentioned
Bigcommand (Adilo)
Boxcast
Brightcove
Cloudapp
Dacast
Dalet Digital Media Systems
Genus Technologies
Haivision
Ibm
Jw Player
Kaltura
Kollective
Mediaplatform
Microsoft
Panopto
Poly
Qumu
Renderforest
Sonic Foundry
Telestream
Vbrick
Vidizmo
Vidyard
Vimeo
For more information about this report visit https://www.researchandmarkets.com/r/pvzpu4