The global Video Content Management System Market size 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.
The video content manangement system market 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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IBM is one of the leading cloud platform and cognitive solution providers. The company offers integrated solutions and products leveraging the benefits of data, IT, and deep expertise. This, in turn, helps achieve greater efficiency in business processes to create value for its clients. It is an established player and renowned vendor providing dedicated hardware, software, and related services. IBM is one of the leading cloud platform and software and services providers. IBM offers its video content management system software to marketers and content creators under its offering, Watson Media. In the video content management system market, IBM’s software Enterprise Video Content Management System, a cloud-based content management system, offers video collaboration and communication services to its users. This software enables video service delivery via on-demand and live streaming technologies to its users. The software technology provides benefits such as enterprise security features of single-sign-on to access content securely, transcoding of video content to make it device-agnostic, video analytics, real-time closed captioning for live-streamed video content, and many others.
Vimeo is a US-based leading video hosting, sharing, and services provider. The company serves its customers worldwide with high-quality video creation and hosting services comprising customization and beneficial features. With over 7,000,000 subscribers, 200 million professionals, and associated organizations, the platform enables content creators to focus on high-quality video content creation with video promotion services and features. Vimeo was a part of IAC Group till December 2020. The company has spun off and is working as an independent public trading entity since 2021. In the video content management system market, Vimeo is one of the leading players with Vimeo Video Platform as an offering. The platform creates metadata of the uploaded videos and enables search functionalities for its end users. Vimeo is a platform that allows its users to create, manage, and publish video content, which belongs to various industries that range from eCommerce to education and enterprises to creative professionals.
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