The Video as a Service Market size was valued at USD 6.34 billion in 2023 and is expected to grow to USD 95.32 billion by 2031 and grow at a CAGR of 40.32% over the forecast period of 2024-2031.
The main drivers for growth of the Video as a Service Market are expected to be growing demand for real time and remote access video services, adopting cloud-based services by enterprises, increasing numbers of internet users in a given area as well as lower total ownership costs.
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Key Drivers:
Growing use of live video.
Increasing use of real time video is driving the market CAGR for Video as a Service. The video as a Service market is driven by its capacity to increase productivity, increase engagement, and keep remote workers connected, which is why it is called video as a Service market. In addition, there is a growing demand for real time and remote access internet video services and a rapid growth of high-speed communication infrastructure among organisations.
Rapid adoption of WebRTC technology:
Restraints:
Privacy and data security concerns.
The expansion of the market is hindered by excessive acquisition and integration costs, as well as data security and privacy issues. There are several false alarms due to faults in equipment and unfavourable weather conditions or ecological situations. This results in an increased risk of system failures and, as a result, security breaches for the industrial sector.
Problems with Bandwidth and Connectivity
Opportunities:
The advancements in cloud computing and increase in the bandwidths
The adoption of cloud-based services by users in the surveillance industry is also rapidly increasing. There are considerable benefits in transferring video data from local recording to cloud, when the details are analysed. This includes making it easier to give access to security monitoring teams ensuring greater coverage, preventing evidence from being tampered with and speeding up response. Advanced VSaaS solutions are currently offering a number of functionalities, for example the compression of video data.
Challenges:
Cost and budget constraints
Factors such as initial expenditure, subscription fees or recurrent maintenance costs may significantly hamper the uptake of VaaS. Small and medium sized enterprises with limited IT budgets are particularly at risk. In view of higher implementation costs, hidden charges and uncertainty as to the return-on-investment ROI, organisations may be dissuaded from participating in VaaS solutions.
Integration and Interoperability Challenges
The most important thing to consider during the economic downturn is what format of advertisement will give you the greatest return on investment. A recent survey found that 87% of business owners were satisfied with the return on video advertising, and 66% thought it was a most important form of content.
A complex landscape has emerged for different markets, in particular the Video as a ServiceaaS market, due to the current recession. Nevertheless, in spite of the broader challenges facing the economy, there appears to be a degree of resilience and potential for growth reflected in the impact on the app market which is closely linked with virtual assistant services.
The market for apps showed a significant capacity to expand, with consumer expenditure on mobile and advertising in the app stores exceeding 500 billion US dollars by 2023. This shows that the app economy is growing strongly, with nearly $1.5 billion in daily spending and 257 billion downloads, indicating a steady growth path even during times of financial volatility and geopolitical uncertainty. This resilience and growth of the application economy, which includes VaaS platforms as an integral element
In spite of the economic downturn, emphasise that there is an underlying potential for future expansion and opportunities. It should be noted that the global economic environment is facing significant challenges, including policy tightening to respond to inflation and other problems such as supply chain disruptions and geopolitical tensions. These factors have contributed to a slowdown in global economic growth, with expectations for countries which account for over one third of the world's output expected to contract this year as well.
The Russia-Ukraine crisis has had wide-ranging impacts across various sectors, including the Video as a Service (VaaS) market, primarily through its influence on cyber security, corporate operations, supply chains, and the broader technology landscape Cyber security has become a critical concern, with increased risks of cyber-attacks. As a result of the crisis, Russia has been coordinating cyber-attacks with conventional military operations, a trend that could continue and affect how VaaS providers approach each other. Corporate operations have been affected as well, with many companies reducing their presence in Russia or pulling out entirely. This shift could affect virtual assistant service providers with operations or partnerships in the region, which might lead to a reevaluation of market strategies and operating models. Another important aspect is the disruption of supply chains, with increased attention being paid to twin sourcing and resilience planning. Hardware issues may arise for VaaS providers. About $40 billion of the stock market value was wiped out by Netflix's 26% drop after the bell. The company has lost nearly half its value since it issued a warning in January about low growth of subscribers. In its first quarter, the company said it lost 200,000 subscribers, far less than what it expected to add 2.5 million new customers. The cancellation of service in Russia following the Ukraine invasion has led to a loss of 700,000 recruits.
By Cloud Deployment Mode
Public Cloud
Hybrid Cloud
In 2023, the hybrid cloud segment accounted for 44.3% of global revenue. A significant shift to a Hybrid Model, which matches the nature of various workloads, can be taken into account for this high proportion. In the hybrid cloud deployment model, enterprises may maintain their external capabilities with large public cloud providers while maintaining relatively smaller workloads in a private cloud that is located at home or on premises.
By Vertical
BFSI
Healthcare & Life Science
Retail & E-Commerce
IT & Telecom
Education
Government & Public Sector
Media & Entertainment
Others
By Application
Corporate Communications
Training & Development
Marketing & Client Engagement
Broadcast Distribution
Content Creation &Management
Others
In 2023, the corporate communications segment accounted for 29.4% of global revenue, and is expected to grow at an accelerated compound annual growth rate over the forecast period. The adoption of cloud services and an increase in the demand for RealTime and Remote Access video services by businesses can be attributed to this growth. Operational efficiency and productivity of businesses and employees worldwide has been disrupted by the COVID 19 pandemic.
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In 2023, North America accounted for over 43.9% of the market share. The presence of many cloud video solution providers in the region may be partly to blame for this high proportion. As far as the adoption of videoconferencing and other cloud communication solutions is concerned, the market in North America matures. The growth of the regional market has been driven by an exponential increase in demand for continuous access to visual meetings and high-quality internet. Moreover, the growth of the regional market has been driven by the presence of a large number of key players and the growing popularity of BYOD Bring Your Own Device solutions, which has also led to the adoption of webcams and headphones.
Over the forecast period, Asia Pacific is expected to be the strongest growth region. The outbreak of the coronavirus, which allowed people to work remotely, has been a catalyst for creating good quality Internet infrastructure in the region, even though regional governing bodies and business communities have supported technological innovation prior to the onset of the COVID-19 epidemic.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Amazon web service, inc., Avaya inc., blue jeans network, inc., Cisco Systems, inc., Huawei technologies co., ltd., Logmein, inc., Plantronics, inc., Premiere global service, inc., Ringcentral, inc., Zoom video communications, inc. & Other Players
October 2022: Cisco and Microsoft Corporation announced a new alliance to provide customers with more choices at Microsoft's annual Ignite conference. Microsoft and Cisco will soon make it possible for Windows Teams to be the default experience, natively running on hardware certified by Microsoft Teams that is installed in rooms and offices. Cisco will join the Certified for Microsoft Teams program as a partner for the first time.
September 2022: Adobe has announced the signature of a formal merger agreement to acquire Figma. A new age of collaborative innovation will be born when Adobe and Figma work together. The future of creativity and productivity will be reassessed by Adobe and Figma, in order to enhance product design or encourage a global community of artists, designers and developers.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 6.34 Billion |
| Market Size by 2031 | US$ 95.32 Billion |
| CAGR | CAGR 40.32% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Cloud Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud) • By Vertical (BFSI, Healthcare & Life Science, Retail & E-Commerce, IT & Telecom, Education, Government & Public Sector, Media & Entertainment, Others) • By Application (Corporate Communications, Training & Development, Marketing & Client Engagement, Broadcast Distribution, Content Creation &Management, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Amazon web service, inc., Avaya inc., blue jeans network, inc., Cisco Systems, inc., Huawei technologies co., ltd., Logmein, inc., Plantronics, inc., Premiere global service, inc., Ringcentral, inc., Zoom video communications, inc. |
| Key Drivers | •The need for real-time and distant video services is increasing. •Enterprise use of cloud-based services. |
| Market Restraints | •Concerns about data security and privacy. •Issues with network connection and infrastructure. |
Ans: The Video as a Service Market was valued at USD 6.34 billion in 2023.
Ans: - Different video conferencing solutions have limited compatibility and poor internet speed might degrade service quality.
Ans: - In 2021, the education category dominated the market.
Ans: - The major key players are Amazon web service, inc., Avaya inc., blue jeans network, inc., Cisco Systems, inc., Huawei technologies co., ltd., Logmein, inc., Plantronics, inc., Premiere global service, inc., Ringcentral, inc., Zoom video communications, inc.
Ans: - The study includes a comprehensive analysis of Video as Service Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Video as a Service Market Segmentation, By Cloud Deployment Mode
9.1 Introduction
9.2 Trend Analysis
9.3 Public Cloud
9.4 Private Cloud
9.5 Hybrid Cloud
10. Video as a Service Market Segmentation, By Vertical
10.1 Introduction
10.2 Trend Analysis
10.3 BFSI
10.4 Healthcare & Life Science
10.5 Retail & E-Commerce
10.6 IT & Telecom
10.7 Education
10.8 Government & Public Sector
10.9 Media & Entertainment
10.10 Others
11. Video as a Service Market Segmentation, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Corporate Communications
11.4 Training & Development
11.5 Marketing & Client Engagement
11.6 Broadcast Distribution
11.7 Content Creation &Management
11.8 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 COMPAL Inc.
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Foxconn Electronics Inc.
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Hyve Solutions Corporation
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Inventec Corp.
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Jabil Inc.
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 MiTAC Holdings Corp.
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Penguin Computing
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Quanta Computer lnc
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Servers Direct
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Wistron Corporation
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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