New York, Oct. 26, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Video Content Management System Market By Component, By Application, By Deployment Type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06177790/?utm_source=GNW
A video content management system has the features that enable an enterprise to search and sort by different keywords and data points to make findings.
With the help of a video content management system, companies can better store, manage, organize, and post online video content. A video CMS enables users to create a complex, scalable video solution without the need for any programming knowledge. Video content management systems are utilized for public-facing videos such as ads and tutorials, and private videos such as training & internal messaging. Companies those are highly dependent on video for external as well as internal communications should implement a video CMS for their benefits in comparison to a non-specialized system.
Due to the existence of many key players, the video content management system market is likely to witness bright prospects over the forthcoming years. A major catalyst for the growth of the global video content management market is the increase in the number of companies and SMEs across different industries such as BFSI, healthcare and Lifesciences, education, IT and telecom, media and entertainment, retail, and eCommerce and their huge adoption of cloud services and internet penetration. Moreover, the growth of the market is also driven by emerging nations across the globe.
The outbreak of the COVID-19 pandemic has increased the demand for the video content management system market. The companies faced unparalleled and complicated obstacles due to the global pandemic and the adoption of the work-from-home model. The need for alternate business models has been emerged due to the economic slowdown because of the contagious and fatal nature of coronavirus.
This could impact the behavior of customers because they can become habitual of online shopping, hence making it a new normal, and it becomes difficult to come out of this habit easily. As a result, companies have been forced to increase their online presence. Companies across various industrial verticals are harnessing the potential of video content management systems because of the flexibility of managing big video files, improves corporate communication, and provides possibilities for marketing, promotion, and address live audiences.
Market Growth Factors:
Online video content is witnessing high demand in the market
According to the industry experts, the viewers for video content grew by 250% and live stream events by 300%. The stringent lockdown restrictions have compelled many companies to deploy the work-from-home policy, thereby allowing people to work remotely. Companies are adopting video-based communication solutions like web-based communication through video calling and video conferencing in order to improve collaboration and communication between employees.
Surging demand for remote access and real-time video services would boost the market growth
There is an increasing demand for well-developed and high-quality video service among the customers and companies as advanced video equipment is becoming more affordable. In addition, the high demand for real-time video service for incident management would further enable authorities to better respond to disastrous and emergency situations like thefts, fire incidents, security breaches, natural calamities, road accidents, and among others.
Market Restraining Factor:
Concerns regarding privacy and data security
Companies face major concerns due to the security and privacy of the video content shared across several platforms. In addition, companies are apprehensive about Digital Rights Management (DRM) and copyright because of the chances of information leakages, misuse, and data breaches. In 2019, the cases of data breach were biggest in healthcare, manufacturing, finance, information, and public sectors. Companies must redefine their strategies in deploying video conferencing capabilities before installing these solutions in order to address these challenges.
Based on Component, the market is segmented into Platform (Without Services) and Services. The services segment would showcase the prominent growth rate during the forecast period. Factor such as the increase in the amount of video content consumption and cloud-based video services is responsible for the growth of the segment. Services are extremely required for simple installation, integration, and appropriate functioning of the video content management system.
Based on Application, the market is segmented into Enterprise Communication, Virtual Events, Education & Learning, Marketing & Client Engagement, Recruitment & Training and Others. The Enterprise Communication market dominated the Global Video Content Management System Market by Application 2020. The Virtual Events market is expected to witness a CAGR of 12% during (2021 – 2027).
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. The on-premises segment obtained the maximum revenue share of the video content management market in 2020. Moreover, the segment is likely to acquire a prominent revenue share during the forecasting period. This is because large enterprises majorly deploy on-premises video content management services in order to gain complete control over their infrastructure and data, maintaining the strong security of data regarding the integration with internal company systems like customer relationship management, sales management system, and employee management system.
End User Outlook
Based on End User, the market is segmented into BFSI, Retail & eCommerce, Media & Entertainment, Healthcare, Education, Telecom & IT, and Others. The education segment is currently witnessing the massive deployment of video content management solutions, thus offering lucrative growth opportunities for the vendors of solutions. The higher education category and K-12 fall under the education segment. The video content has been created at a wide scale due to the transition of education to online mode due to the closure of schools, colleges, and other kinds of educational institutes. Moreover, the market players are likely to witness new growth avenues due to the massive surge in the adoption rate of digital platforms by educational institutes.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC is likely to exhibit the highest growth rate over the forecast years. Factors such as massive penetration of smart devices, rapid rate of digitalization of enterprises, high economic development, high-speed internet connectivity, and increase in the foreign investments in countries like India, Malaysia, Indonesia, and the existence of established countries like China, Japan, Australia, and South Korea are responsible for the growth & demand for these solutions in the region.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Video Content Management System Market. Companies such as IBM Corporation and Citrix System, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Vimeo.com, Inc. (IAC Group), Microsoft Corporation, BrightCove, Inc., Panopto Inc., Kaltura Inc., Buildscale, Inc. (Vidyard), Citrix Systems, Inc., Haivision Systems Inc., and Kollective Technology, Inc. (MK Capital).
Recent strategies Deployed in Video Content Management Market
Partnerships, Collaborations and Agreements:
Mar-2021: Microsoft extended its partnership with Box, a company that develops and markets cloud-based content management, collaboration, and file-sharing tools for businesses. The partnership aimed to provide Box cloud content management with Azure to enterprise customers. Through this partnership, the artificial intelligence and machine learning capabilities of Azure would be integrated with the cloud content management platform of Box. As a part of this partnership, Box would utilize Azure as a strategic public cloud platform, and the companies commit to shared go-to-market investments, including initiatives to co-sell Box with Azure.
Feb-2021: Panopto formed a multi-year partnership with TechSmith Corporation, a leading vendor of screen capture and video editing tools. The partnership aimed to offer students, educators, and employees a robust solution for developing, securing and distributing video-based intelligence in universities and enterprises.
Jan-2021: Brightcove came into partnership with Cvent, a vendor of market-leading meetings, events, and hospitality technology. The partnership aimed to provide video solutions of Brightcove as part of Virtual Attendee Hub by Cvent. As a part of this partnership, customers of Cvent are empowered to introduce reliable, scalable, and broadcast-grade video experiences to their audiences.
Sep-2020: Panopto entered into a partnership with Winnov, provider of technology in video capture & streaming, and is the maker of Cbox. The partnership aimed to integrate the video content management system of Panopto and the Cbox family of appliances of Winnov. Through this partnership, the companies would offer organizations with an automated workflow for capturing, publishing, and streaming multi-source lectures and business presentations.
Jul-2020: Kaltura came into a partnership with Degreed, the workforce upskilling platform. Together, the companies would help learning and talent teams to develop, unify, curate, and protect videos, and insert them smoothly into both self-directed learning and structured training experiences through a flexible, branded portal in Degreed.
Jul-2020: Kaltura partnered with Wochit, the leading cloud video creation platform. Through this partnership, Kaltura customers would have access to Wochit Studio through the Kaltura MediaSpace video portal and Kaltura Application Framework products. The agile and flexible video creation platform of Wochit, combined with the world’s largest licensed content pool and myriad social integrations, is completely embedded and integrated into the products of Kaltura.
Apr-2020: Vidyard extended its partnership with Adobe, an American multinational computer software company. The partnership aimed to help companies to simply combine video hosting, publishing, optimization, and analytics to their Marketo Engage deployments, and to integrate video with their lead and account-based marketing automation programs.
Jan-2020: Vidyard teamed up with Zoom video conferencing. Under this collaboration, Vidyard launched latest portfolio of its video creation and collaboration tools. This portfolio would deliver the potential of video to all business users along with considering the security requirements of the organization.
Acquisitions and Mergers:
Sep-2021: Vimeo took over Magisto, a startup based in Israel that aims to offers tools to create and edit short-form videos. The acquisition aimed to help Vimeo to expand its portfolio of creation and editing tools.
Aug-2021: Microsoft acquired Clipchamp, a company offering web-based video creation and editing software. The acquisition aimed to extend Microsoft’s current productivity experiences in Microsoft 365 for families, schools, and businesses.
Jun-2021: Vimeo completed the acquisition of Livestream, a live video streaming platform. The acquisition aimed to combine Livestream’s technology into Vimeo that would enable video creators to capture, edit, stream and archive their live events along with hosting, distributing, and generating revenue from their videos.
Apr-2021: Microsoft took over Peer5, a company involved in developing a platform to optimize bandwidth usage through mesh networking technology. Through this acquisition, Microsoft would utilize the services of Peer5 to improve live video streaming in Microsoft Teams.
Jul-2020: Brightcove acquired the online video platform business of Ooyala, a vendor of cloud video technology. The acquisition aimed to bolster the position of Brightcove as the market leader in the online video industry. Moreover, Ooyala OVP customers can explore the appealing list of companies working with Brightcove.
Jul-2020: Panopto took over Syracuse, N.Y. based Ensemble Video, which also operates a platform to help customers manage and publish video content. The acquisition aimed to allow new customers to utilize Panopto and thereby, expanding the ability of the company to fulfill the demands of K-12 educators and bolstering its world-class engineering team.
Jan-2020: Kaltura took over Newrow, a video conferencing and collaboration platform. The acquisition aimed to expand the reach of Kaltura in the Video Conferencing and Meeting Solutions markets.
Product Launches and Product Expansions:
May-2021: IBM Watson Media unveiled IBM Video Streaming mobile application. Through this launch, the company would provide companies an end-to-end, security-rich solution for live mobile video streaming available on iOS and Android.
Jun-2021: IBM rolled out IBM z15, the latest enterprise platform with the capability to manage the privacy of customer data across hybrid multicloud environments. Through this product, the company offers its clients the ability to manage access to data through policy-based controls, with an industry-first capability to repeal access to data across the hybrid cloud.
Feb-2021: Vimeo introduced a portfolio offerings under its Vimeo platform. Through this expansion, the company would assist marketers and businesses reach and eventually convert new customers with video. Vimeo also launched the latest and advanced integrations with HubSpot, Mailchimp, and Constant Contact in order to simplify the process of managing and communicating with customer leads.
Jan-2021: Vimeo introduced an enterprise-grade video hub. This solution would assist enterprises in centralizing every aspect regarding recording, sharing, and searching for videos across departments.
Dec-2020: Brightcove rolled out Brightcove Cloud Playout, the latest feature that improves its end-to-end video platform and makes it one of the few online video vendors to provide this capability. Through this launch, the company would bolster its Technology and Engineering Emmy Award-winning offerings by allowing customers to save even more time and money by combining all video requirements on a single platform.
Jun-2020: Microsoft launched new capabilities in Microsoft Power Platform, a content management system. The system would utilize Microsoft Power Apps with a Microsoft Azure SQL back end, Microsoft Power Automate as the workflow engine, and Microsoft Power BI as the reporting engine.
Jan-2021: Panopto expanded its geographical reach by establishing a commercial office in Singapore. Through this expansion, the company would support its current office in Hong Kong and builds upon Panopto’s Singapore-based data center, which hosts Panopto’s Asia-Pacific Cloud.
Jun-2020: Kollective expanded its geographical reach by establishing its Asia Pacific headquarters in Singapore. Through this expansion, the company would put heavy investment in its technical team operating in Japan, China, Korea, India, and Australia to support this ecosystem.
Scope of the Study
Market Segments covered in the Report:
• Platform (Without Services)
• Enterprise Communication
• Virtual Events
• Education & Learning
• Marketing & Client Engagement
• Recruitment & Training
By Deployment Type
By End User
• Retail & eCommerce
• Media & Entertainment
• Telecom & IT
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• Vimeo.com, Inc. (IAC Group)
• Microsoft Corporation
• BrightCove, Inc.
• Panopto Inc.
• Kaltura Inc.
• Buildscale, Inc. (Vidyard)
• Citrix Systems, Inc.
• Haivision Systems Inc.
• Kollective Technology, Inc. (MK Capital)
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Read the full report: https://www.reportlinker.com/p06177790/?utm_source=GNW
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