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 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.
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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