Video as a Service Market Overview
The video streaming market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. Market Research Future (MRFR) estimates the global video as a service market size to reach a market value of USD 6.79 billion at a robust CAGR of 8.2% from 2020 to 2027 (forecast period).
Increasing Need for Real-Time Communications Services
VaaS not only facilitates more collaborative meeting environments but also allows for the development of a technologically advanced digital workforce. The fast use of technology that allows them to interact in real-time is bringing the world closer together, allowing enterprises to maintain human connections regardless of their physical location. This leads to faster decision-making and more efficient working settings, increasing demand for real-time communications services. Furthermore, the education sector's growing demand for online learning content, live sessions, webinars, training and development for employees to update their skills, and others are gaining traction.
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Video as a Service Market Key Players
- Microsoft (US)
- Zoom Video Communications Inc. (US)
- Cisco Systems Inc. (US)
- Adobe (US)
- Avaya Inc. (US)
- Google (US)
- Amazon Web Services Inc. (US)
- Plantronics Inc. (US)
- LogMeIn Inc. (US)
- RingCentral Inc. (US)
- Zoho Corporation Pvt. Ltd. (India)
- Premiere Global Services Inc. (US)
- Wickr Inc. (US)
- Pexip AS (Norway)
- StarLeaf (UK).
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Video as a Service Market Segmentation
The worldwide video as a service market has been segmented based on application, cloud deployment, and vertical.
GLOBAL VIDEO AS A SERVICE MARKET, BY APPLICATION
- Introduction
- Corporate Communications
- Training & Development
- Marketing & Client Engagement
GLOBAL VIDEO AS A SERVICE MARKET, BYCLOUD DEPLOYMENT
- Introduction
- Public
- Private
- Hybrid
GLOBAL VIDEO AS A SERVICE MARKET, BY VERTICAL
- Introduction
- BFSI
- IT & Telecommunications
- Healthcare
- Media & Entertainment
- Government
- Others
Regional Analysis
North America to Rule the Global Market
North America is predicted to have the greatest market share due to the region's increased demand for video as a service platform across end-use industry verticals. The United States is predicted to lead the region's country-level market due to reasons such as increased demand for video as a service for corporate communications among end-use industry verticals like BFSI, IT& telecommunications, healthcare, media & entertainment, government, and others.
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The Global Market to Grow Amid COVID-19 Crisis
The outbreak of a novel coronavirus in China's Wuhan province, which later expanded throughout the world, presented an unprecedented situation for government agencies to restrict the spread of the fatal virus. To prevent the viral spread, authorities imposed rigorous rules such as lockdowns, movement restrictions, and the closure of industrial sites. During such exceptional events, however, policy enforcement quickly switched from traditional business activities to digital platforms for company continuity. This allowed VaaS providers to thrive and scale their operations to meet rising demand. Furthermore, the quick acceptance of VaaS has assisted various firms in saving money on business trip expenses while maintaining business operations such as client engagement, marketing initiatives, and corporate communications.
This growing trend is projected to continue even after the pandemic scenario has subsided due to greater adoption, increased IT expenditure budgets, considerable savings on employee turnover, increased productivity, and the availability of Internet connectivity in remote locations. Furthermore, it has been found that people continue to maintain social distancing and avoid meetings at their workplaces, which increases demand, particularly from the corporate communications sub-segment.
Key Points Covered in the Report:
- The Video as a Service research assesses the industry’s share in terms of demand and supply, as well as volume.
- The study mentions the market share acquired by each product category in terms of consumption value and volume.
- The report meticulously discusses financial records of cumulative sales and overall income gathered by each product category.
- The study includes information on the major organizations’ sales, product pricing methods, revenue shares, and gross margins.
- The operational base of the listed enterprises throughout many locations, as well as their distribution methods, is considered.
- There is also information on the market concentration ratio, partnerships, alliances, acquisitions, new rivals, and other significant changes.
Major Points from TOC:
- Global Video as a Service Overview
- Executive Summary
- Production and Capacity by Region
- Production, Revenue, Price Trend by Type
- Key Players Analysis
Continued…
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