The Enterprise Video Market size is expected to grow from USD 23.8 billion in 2024 to USD 35.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period.
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Some crucial driving factors that leverage market growth include enhanced employee engagement and training, globalization and cross-border communication, integration of AI and analytics in video solutions, and demand for personalized customer experiences, among others.
The services segment will record a higher CAGR under offerings during the forecast period.
In the global enterprise video market, the services segment is pivotal in offering support, maintenance, and consulting services to businesses using video solutions, which are covered broadly under professional and managed services. These services encompass installation, configuration, troubleshooting, and training to ensure seamless operation and optimal utilization of video platforms. For instance, a company providing enterprise video solutions may offer on-demand technical support to assist clients in resolving issues promptly, enhancing user experience, and maximizing the value derived from their investment in video technology. This proactive approach to service provision contributes to customer satisfaction and long-term partnerships in the enterprise video market.
Based on Solutions, video conferencing holds the largest share of Enterprise video market during the forecast period.
Video conferencing solutions are integral in the global enterprise video market, facilitating real-time communication and collaboration among remote teams and stakeholders. These solutions enable users to conduct virtual meetings, share content, and interact face-to-face from different locations, enhancing productivity and efficiency in business operations. For instance, a multinational corporation may utilize a cloud-based video conferencing platform to host cross-border meetings, enabling geographically dispersed teams to collaborate seamlessly and make informed decisions. Such solutions streamline communication workflows, reduce travel costs, and foster agile decision-making processes, driving the adoption of video conferencing technologies across diverse industries.
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By region, Asia Pacific will record the highest CAGR during the forecast period.
The Asia Pacific Enterprise video market is experiencing robust growth driven by regulatory reforms, technological innovation, and changing consumer behaviors. Countries like Australia, Singapore, and India have progressive regulatory frameworks promoting competition and innovation. The affordability and ease of enterprise video deployment would be the major driving factors for adopting cloud technologies. The increasing trend toward cloud-based solutions is expected to trigger the high growth of the Enterprise video market in this region. The rising adoption of various technologies, such as edge computing, IoT, NLP, and DRM, is expected to drive the need to store and process real-time data locally, thus increasing the demand for reliable and efficient Enterprise video market solutions. The increasing investments from private sectors, robust government support, and availability of a vast population drive the growth of new and emerging technologies in the region, especially in Australia & New Zealand, Singapore, China, Japan, and India.
Some of the key players operating in the enterprise video market are IBM (US), Microsoft (US), Avaya (US), Google (US), Adobe (US), Zoom (US), AWS (US), Cisco (US), among others.
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According to a research report "Enterprise Video Market by Component (Solutions (Webcasting, Video Content Management, Video Conferencing) and Services), Deployment Mode, Application, Delivery Technique, Vertical (BFSI, Healthcare and Life Sciences), and Region - Global Forecast to 2025", published by MarketsandMarkets, the enterprise video market is expected to grow from USD 16.4 billion in 2020 to USD 25.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
The major factors driving the enterprise video market include the growing demand for video streaming and the need for connecting remote workforce, an increasing number of internet users, rising smartphone adoption, and increasing operational efficiency among organizations.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1182The solutions segment is expected to hold the largest share of the enterprise video market during the forecast period.The focus of organizations on improving the internal and external communication processes is driving the growth of enterprise video solutions.
Growth in the number of smartphone users and increase in the use of mobile apps has played a significant role in the adoption of enterprise video solutions.
Organizations are using enterprise video solutions for applications such as video conferencing and live streaming, which help workforce engage and interact with each other in real-time.
They also aid in connecting geographically dispersed employees.Cloud deployment mode is expected to grow at the highest CAGR rate during the forecast period.Cloud or hosted enterprise video solutions are provided as SaaS by service providers.
Thus, the use of cloud-based enterprise video solutions provides flexibility to organizations to adjust to the dynamic business environment.
Companies that need a platform for its global workforce are bolstering the implementation of enterprise video market as it is much more effective in increasing productivity and enhancing reach.
The global Enterprise Video Market is eyeing for a stellar USD 31 billion valuation by 2022 with an impressive CAGR of 13% during the forecast period (2016-2022), reports Market Research Future (MRFR).
The report enlists drivers such as inflating organizations that are now relying more on bring-your-own-device culture, improved status of cloud technology, remote operational facility, added flexibility, and reduced expenditure for better enterprise video market scenario in forthcoming years.
Some others players in this market are- Anvato, Vimond Media Solutions, Ustream, Kollective among others.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1932Segmentation:The global enterprise video market can be segmented by components, services, application, delivery mode, and industry.Based on components, the enterprise video market includes hardware and software.By services, the enterprise video market can be segmented into as professional and managed.By application, the enterprise video market comprises training & development and corporate learning, and others.Based on delivery mode includes, the enterprise video market incorporates video conferencing, web conferencing among others.Industry-wise the enterprise video market includes banking, financial services and insurance (BFSI), manufacturing, media & entertainment, healthcare, aerospace & defense, oil & gas, and telecom & IT, and others.Regional Analysis:Region-specific analysis of the enterprise video market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).North America is dominating the market.
Its ability to reduce operational cost and add flexibility are the reasons that lure companies in integrating such technology.
Cloud technology is also getting better with each day, and as major companies are based out of this region, the regional enterprise video market is getting more prominence.Europe stands second in the global enterprise video market with the region spending substantially to incorporate this technology in the healthcare sector.
