The video software market has grown substantially over the past few years due to the integration of advanced technologies. With demand remaining steady due to the continuing remote lifestyle, video software companies Vimeo , Inc. (NASDAQ:VMEO) and Brightcove Inc. (BCOV) are expected to benefit. But which of these stocks is a better buy now? Keep reading to find out.Vimeo, Inc. (VMEO) in New York City operates as a cloud-based software platform for professionals, teams, and organizations to create, collaborate, and communicate with video worldwide. Brightcove Inc. (BCOV) in Boston provides cloud-based services for video. Its flagship products include Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices.
The COVID-19 pandemic turned out to be a boon for the global video streaming software industry. Under social distancing and stay-at-home mandates, people relied on online platforms for almost every task—from entertainment to virtual conferencing. This trend is expected to continue due to the conveniences and efficiencies afforded by a remote lifestyle. The global video streaming software market is projected to grow at a 20.4% CAGR between 2020 - 2027 to hit $19.54 billion. Thus, prominent players in this space, VMEO, and BCOV, should benefit.
VMEO has slumped 15.8% in price over the past month, while BCOV has declined 9.1%. However, VMEO has fallen 5.5% versus BCOV’s 21.3% descent over the past three months.