Microsoft Corporation (NASDAQ: MSFT) announced the acquisition of Peer5. Peer5 develops a platform to make the best use of bandwidth usage through mesh networking technology. Microsoft expects to leverage Peer5 services to augment live video streaming in Microsoft Teams. Peer5 claims they are the world’s largest content delivery network peer-to-peer.
Acquisition to augment live video streaming for Microsoft Team.
Microsoft Corporation announced the acquisition of Peer5. However, the company didn’t disclose the terms and conditions of the acquisition. The company expects to leverage Peer5 services to augment live video streaming. Globally, companies are increasingly depending on streaming to enhance their services to interact with their workforce. It can also lead to the management of the new world of hybrid work.
In the COVID era, live streaming has taken a giant leap to interact with colleagues and education. As per the industry, Microsoft Teams has become one of many customers’ primary communications and collaboration platforms. The customers have asked the company for more integrated solutions for group meetings and virtual events. The company will utilize live video streaming for training, conference, town halls, etc., to engage with employees. The acquisition of Peer5 is expected to expand Microsoft’s ability to provide high-quality live video streaming with optimized performance using Microsoft Teams.
The video conference market expects to grow 19% between 2020 and 2026.
In the current environment, live streaming has become too familiar in the workplace and educational institutes. Global Market Insights, expects the video conferencing market to grow by 19% between 2020 and 2025. As a result, the video conferencing market is expected to reach $50 billion by 2026. They further stated, Zoom can run on its own 45 billion minutes of webinars in a year.
The expansion of Microsoft Team services through Peer5 comes as videoconferencing service expect to reach 145 million daily active users. The company also introduced new features like Fluid components that allow users to chat and send a message with an action item. In addition, the users can also share the lists that can be edited by everyone accessing the video conferencing. Live video streaming enables the automation of meeting throughout the events. It also helps the corporate or users to track the event smoothly.