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[213+ Pages Report] According to a Facts and Factors market research report, the global video content management system market is estimated at around USD 3.09 Billion in 2020 and is expected to reach around USD 6.8 Billion by 2026 along with a CAGR of around 14% from 2021 to 2026.
Businesses are continuously looking for new methods to develop fascinating, relevant content that will reach out to people in the ever-changing digital market. Video will become an increasingly important aspect of the online content environment, and its impact on overall online user activity is growing year after year. YouTube, for example, claims that one billion hours of video are seen on its site every day, equating to billions of single video watches. The ability to generate attractive video material, then store, manage, and monetize it, is critical to a creator's development and prosperity. Producers are moving to video content management software to assist them and handle all of these key duties and achieve their video marketing and distribution goals.
A video content management system (VMS), usually known as a media hosting CMS. A video content management system (CMS) platform is designed only for hosting and online streaming files, instead of managing and processing multiple sorts of media.
The substantial acceptance of cloud-based services and increasing internet use are the major factors driving the acceptance of video content management systems among various industries including BFSI, IT and telecom, healthcare and life sciences, education, media and entertainment, retail, and e-commerce, among others.
According to Louis Columbus, an enterprise software consultant at Forbes, by July 2018, cloud solutions would account for 80 percent of a company's overall IT budget. However, some significant restraints to market expansion include video content privacy and security, as well as technological issues in enterprise video content management systems. The adoption of video analytics, on the other hand, is expected to generate profitable chances for the market in the approaching years.
The global video content management system market is segmented into component, deployment mode, industry verticals, and application. Based on deployment mode, the market is bifurcated into cloud-based and web-based. The component segment is categorized into platform and services. Education and learning, enterprise communication, marketing and client engagement, recruitment and training, and virtual events are the applications of the global video content management system market. The industry verticals segment is bifurcated into BFSI, IT and telecom, healthcare and life sciences, education, media and entertainment, retail, and e-commerce among others.
|Market Size in 2020||USD 3.09 Billion|
|Projected Market Size in 2026||USD 6.8 Billion|
|CAGR Growth Rate||14% CAGR|
|Key Market Players||IBM, Vimeo, Microsoft, BrightCove, Cloudapp, Panopto, Kaltura, Kollective, Vidyard, Sonic Foundry, and Others|
|Key Segments||Components, Deployment Mode, Application, Industry vertical, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
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Based on regions, the global video content management system market can be divided into five main regions namely, North America, Europe, Latin America, Asia Pacific, and The Middle East, and Africa.
Asia Pacific is expected to register the highest market growth in the video content management system market in terms of regional market share, owing to various factors such as the Smart device multiplication; fast broadband availability; increased digitization of businesses; and increased international investment in economies including India, Indonesia, Malaysia; and presence of high growth economies, such as Australia, Japan, China, and South Korea. Because of improved technology and infrastructure, the developed countries in this region are likely to grow significantly. The use of video streaming platforms to promote and expedite corporate operations is progressively being adopted by emerging nations.
The key players in the video content management system market are IBM, Vimeo, Microsoft, BrightCove, Cloudapp, Panopto, Kaltura, Kollective, Vidyard, Sonic Foundry, Haivision, MediaPlatform, Poly, Dalet Digital Media Systems, Qumu, Vidizmo, VBrick, Dacast, Telestream, JW Player, BigCommand, Renderforest, Genus Technologies, and Boxcast among others.
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