Enterprise Video Market by Offering, Application, Deployment mode, Organization Size, Delivery Technique, Vertical And Region - Global Forecast to 2027
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NEW YORK, Dec. 2, 2022 /PRNewswire/ --
The enterprise video market size is projected to grow from USD 19.8 billion in 2022 to USD 31.4 billion by 2027, at a CAGR of 9.7% during the forecast period. Various key players in the ecosystem have led to a competitive and diverse market. Need to improve operational efficiency and employee productivity, need to connect remote workforce, and increasing number of internet users around the world are expected to drive the adoption of the enterprise video market in the future. The interactive and seamless enterprise communication and collaboration helps organizations to maintain operational efficiency and meet business goals. However, the lack of strong communication tools significantly limits employee productivity. According to a Cisco global survey focused on the future of work, 98% of workers stated that they experienced frustration from distractions during video meetings when working from home. The increasing demand for the better video solutions is encouraging the enterprise video vendors to updating their solutions with advanced technologies such as noise cancellation and speech recognition technologies, and to help enterprises in improving the operational efficiency and productivity.
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• By offering, Solutions segment to account for larger market size during forecast period
Effective enterprise collaboration offers a seamless video experience for various application areas, such as marketing, client engagement, knowledge sharing, team collaboration, and employee training.The advanced enterprise video solutions also comply with regulations, such as HIPPA and GDPR, making it easier for highly regulated industries to adopt these solutions.
Major enterprise video solution vendors are gradually adopting smart technologies, such as cloud computing, 5G, and AI and ML, to offer an advanced suite of solutions to cater to the business needs of the customers; this factor is expected to provide growth opportunities to the enterprise video solutions in the upcoming years.
• By vertical, Healthcare & Life Sciences segment to grow at highest CAGR during forecast period
The healthcare and life sciences vertical deals with diverse clinical, administrative, and financial content on a daily basis.Enterprise video collaborations enable healthcare providers in the telemedicine and patient care, medical education, and healthcare administration applications to offer enhanced patient care by providing them with improved communication options.
Currently, the enterprise video market is witnessing increased growth opportunities in the healthcare and life sciences vertical. This growth can be attributed to the increasing requirement for video solutions to enhance clinical collaborations, staff training, medical education, and healthcare communication.
Asia Pacific to register highest growth rate during the forecast period
The presence of regional solution providers is high in this region, and they provide multiple offerings with attractive pricing packages.The increasing popularity of eLearning and distance education modules has led to the expansion of the enterprise video market to meet diversified educational requirements across various countries in the APAC region, such as Australia and New Zealand (ANZ), Japan, China, Singapore, and India.
Distance education and eLearning are becoming popular with the introduction of smart classes in the APAC region. Several large enterprises and SMEs are looking forward to the APAC region as an opportunity for their growth.
Breakdown of primaries
The study contains various industry experts’ insights, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 â€" 18%, Tier 2 â€" 9%, and Tier 3 â€" 73%
• By Designation: C-level â€" 9%, D-level â€" 18%, and Others â€" 73%
• By Region: North America â€" 55%, Europe â€" 9%, Asia Pacific â€" 36%
The major players covered in the enterprise video market report IBM (US), Microsoft (US), Google (US), Avaya (US), AWS (US), Cisco (US), Poly (US), Adobe (US), Zoom Video Communications (US), LogMeIn (US), RingCentral (US), MediaPlatform (US), INXPO (US), Kollective Technology (US), Haivision (Canada), BlueJeans (US), Kaltura (US), Lifesize (US), On24 (US), Enghouse Systems (Canada), Brightcove (US), VIDIZMO (US), Panopto (US), Vbrick (US), Qumu (US), Dalet Digital Media Systems (US), and Sonic Foundry (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the enterprise video market.
Research Coverage
The market study covers the enterprise video market size across segments.It aims at estimating the market size and the growth potential across segments, including application, component, deployment, organization size, application, vertical, and region.
The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global enterprise video market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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