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. 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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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.
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Unique Features in the Video Content Management System Market
Features for advanced video analytics were starting to become essential to VCMS systems. This comprises instruments for monitoring audience behaviour, monitoring viewer engagement, and offering insights into the effectiveness of content. Data-driven decision-making could be facilitated by such analytics for corporations and content creators.
Video optimisation, content recommendation engines, and automatic metadata tagging were just a few of the uses of AI and ML being integrated into VCMS platforms. These technologies sought to improve user experience, efficiency of content distribution, and searchability.
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.
Instantaneous video editing features were becoming more and more popular, particularly for live streaming events. In order to make live video streams more dynamic and interesting, VCMS platforms were offering tools for in-the-moment editing, cutting, and graphic addition.
Major Highlights of the Video Content Management System Market
Cloud-based VCMS solutions, which provide scalability, flexibility, and accessibility, have witnessed a shift in the industry. Organisations may now store, manage, and distribute video content without requiring a large on-premises infrastructure thanks to cloud deployment.
Organisations were eager to acquire access to video analytics tools since they provided valuable information about viewer behaviour, engagement metrics, and content success. Tools for advanced analytics produced useful information for decision-making and content optimisation.
Recommendation engines, content optimisation, and automatic content tagging are just a few of the activities that VCMS platforms are integrating AI and ML technologies for. These innovations improved user experience overall, personalisation, and searchability.
The ability to stream live and edit videos in real time became popular. To improve the instantaneity and interactivity of video material, VCMS systems included facilities for flawless live streaming events and real-time editing.
A primary emphasis was on monetization features, with VCMS platforms offering facilities for pay-per-view, subscription models, ad management, and other revenue-generating techniques. For companies and content producers hoping to make money off of their videos, this was especially crucial.
Top Key Companies in the Video Content Management System Market
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).
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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