The global video content management market was valued at approximately US$ 3.5 billion in 2021. Thanks to the swift uptake of technology, we anticipate a substantial increase, with the market expected to reach US$ 4 billion in 2022 and a significant US$ 13.5 billion by 2032. This suggests a consistent annual growth rate of 12.9% from 2022 to 2032.
Organizations are turning to video-based communication solutions to improve employee collaboration and communication, such as web-based communication via video conferencing and video calling. As the pandemic began, the consumption of video content was seen to be rapidly increasing.
The adoption of video management services will be accelerated by newer technologies such as live closed captioning and face recognition-based searches powered by AI and ML. The evolution of 5G has yet to realize its full transformative potential, presenting a significant growth opportunity for the video content management market. From 2015 to 2021, video content management market worth grew at a 14.3% CAGR.
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Most video communication tools are still limited to conference rooms due to the high costs and extensive infrastructure requirements associated with UCC video conferencing solutions. Furthermore, some video conferencing solutions do not support interoperability across platforms and devices, making it difficult for users to use video conferencing solutions. As a result, vendors face numerous challenges in promoting video conferencing solutions as a UCC tool.
Key Takeaways from the Video Content Management Market Report:
- Based on application, education and learning video content management to grow at a 12.7% CAGR from 2022-2032
- On-premises video content management deployment to grow at a CAGR of 12.8% until 2032
- China is expected to grow with a CAGR of 12.2% over the forecast period
- The U.S market is estimated to expand at a 12.4% CAGR during the forecast period
- Video content management market to experience over 3x growth until 2032
- U.K, Japan and South Korea markets to be valued at US$ 562.5 Million, US$ 780.1 Million and US$ 480.5 Million respectively
“Rising online video content demands with digital transformation in enterprises, surging the need to use video-based communication solutions to improve employee collaboration and communication,”-says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
What is the Contribution of Key Players to the Global Video Content Management Market?
Some of the market key players are IBM Corporation, Microsoft Corporation, Vimeo, Inc., Brightcove Inc., Panopto, Kaltura, Inc., Kollective Technology, Inc., Dalet Digital Media Systems, Qumu Corporation, VIDIZMO LLC., and others.
- IBM Corporation and Canon launched a new volumetric video technology in July 2021 to enable the creation of high-quality digital video content technology. The technology makes use of cameras and advanced data processing to enable a video point of view, providing viewers with a more immersive experience.
- Brightcove partnered with Wibbitz, a video creation tool provider, in July 2021 to enable Wibbitiz access to BrightCove’s video cloud platform. The platform allows users to create polished videos from scratch using Wibbitz’s templates and photos, animations, transitions, video clips, and other smart media, and then distribute the videos to any other device via the Brightcove platform.
- Qumu Corporation partnered with JS Group, headquartered in Florida, USA, in August 2021. Through this collaboration, Qumu Corporation hopes to launch a global channel program as a result of this collaboration. The program provides operational support, customer benefits, and incentives to assist the company in expanding its penetration in small, medium, and large businesses.
- Vimeo Create, a suite of tools for creating professional quality videos for small businesses, was introduced in February 2020. To create a high-quality video for its users, the new product combines smart editing technology with an intuitive interface and access to a gallery of professionally designed video templates and other editing tools.
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Video Content Management Market Segmentation:
By Component:
- Platforms
- Services
By Deployment Mode:
- On-premise
- Cloud-based
By Application:
- Education and Learning
- Enterprise Communication
- Marketing and Client Engagement
- Recruitment and Training
- Virtual Events
By Vertical:
- BFSI
- IT and Telecom
- Healthcare and Life Sciences
- Education
- Media and Entertainment
- Retail and E-commerce
- Other Verticals
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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