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Video as a Service Market Provides an In-Depth Insight of Sales, Revenue, Trends, Opportunities & Forecast - 2027

Submitted by Animesh233 on Wed, 10/05/2022 - 20:50

Market Overview

The Video as a service market is an emerging market of the new forecast period. As people move towards better and smarter ways of communication that provide realistic yet virtual experiences, such markets are growing. People prefer to watch the Video as a medium of entertainment and communication over simple audio or text. Videos offer far more immersive experiences and are more relevant to the new tech-savvy population. The market enables smartphone and tablet users to communicate with video calls and videoconferencing. With the growth of digital infrastructure, the growth of the Video as a service sector is also gaining pace. Advanced digital infrastructure ensures that video quality is maintained over calls.

Video-as-a-Service (VaaS) Market size is expected to register a robust CAGR of 8.2% & will reach a market value of USD 6.79 billion by 2027. The report provides a detailed view of the market assessment, market size, regional overview, growth, Video-as-a-Service (VaaS) market review and industry profit. estimates. Video-as-a-Service (VaaS) Market Research reports also track future technologies and developments. Thorough information on new products, and regional and market investments is provided in the report.

With the pandemic as a factor, more and more people are using video calls and conferences to communicate. From schools to families, video calls connect different society stakeholders for different purposes. The rise of cloud-based services and remote communication is a major influence on the Video as a service market. The infrastructure available is vast, and the investment needed is low. Therefore, major telecom service providers and investors are putting funds into this sector.

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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.

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.

Market Segmentation

The worldwide video as a service market has been segmented based on application, cloud deployment, and vertical.

By application, the worldwide video as a service market has been divided into corporate communications, training & development, and marketing & client engagement.

Based on cloud deployment, the worldwide video as a service market is classified into public, private, and hybrid.

Based on vertical, the worldwide video as a service market has been segmented into BFSI, IT & telecommunications, healthcare, media & entertainment, and government.

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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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)
TABLE OF CONTENTS

1. EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Video As A Service Market, By Application

1.1.2. Global Video As A Service Market, By Cloud Deployment

1.1.3. Global Video As A Service Market, By Vertical

1.1.4. Global Video As A Service Market, By Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope Of The Study

2.3. Market Structure

3. RESEARCH METHODOLOGY

Continued...

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