Northbrook, IL 60062 -- (SBWire) -- 12/22/2023 --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, according to research report by MarketsandMarkets™.
Key factors that are expected to drive the growth of the market are the growing demand for onlin 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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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).
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers, and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2021, which helped them strengthen their offerings and broaden their customer base.
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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Key Dynamic Factors For Video Content Management System Market:
Growth in the Use of Video Content:
The growing popularity of video content on different internet platforms is a major factor propelling the VCMS industry. As a result of organisations using video as a potent communication tool, there is an increasing need for effective management systems.
Growth of Video Platforms Online:
Robust video content management systems (VCMS) are becoming increasingly necessary because to the growth of online video platforms, which includes social media, e-learning, and streaming services. These systems facilitate the efficient delivery, storing, and organisation of video content.
The need for interactive and personalised content
Personalised and interactive video content is becoming more and more in demand as user expectations rise. In order to create, manage, and deliver interesting and customised video experiences, VCMS solutions are essential.
Combining business intelligence and analytics:
Businesses are looking more and more for VCMS solutions that work with business intelligence and analytics software. Through the provision of insights into viewer behaviour, engagement metrics, and content performance, this connection facilitates data-driven decision-making.
Trends in Mobile Video Consumption:
The necessity for VCMS solutions that are optimised for mobile distribution has arisen from the rise in the use of mobile devices for video consumption. Important things to keep in mind include adaptable design, adaptive streaming, and mobile-friendly functionality.
The emergence of live broadcasting
Live streaming has become more and more common in a number of industries, such as corporate events, gaming, and entertainment. In order to meet the demands of real-time content delivery, VCMS platforms that provide smooth live streaming capabilities are highly sought after.
Competitive and Segmentation Analysis:
Key players in the Video Content Management System (VCMS) market are engaged in fierce competition as they attempt to meet the various needs of businesses in the quickly changing digital video landscape. Prominent companies within this domain provide all-inclusive video content management systems (VCMSs) intended to streamline the production, arrangement, and distribution of video content on multiple platforms. The competitive environment is defined by an ongoing emphasis on innovation, as businesses incorporate cutting-edge technologies like analytics, cloud computing, and artificial intelligence to improve the capabilities of their VCMS services. Market leaders frequently use strategic alliances, joint ventures, and acquisitions to broaden their product offerings and obtain a competitive advantage.
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Revealing Growth: Video Content Management System Market Size, Share, Forecasts, & Trends Analysis 2026
This research report of video content management system market based on application, vertical, deployment model, type, and organization size.