Video as a Service (VaaS) Market Size, Share & Segmentation by Application (Corporate Communications, Training & Development, Marketing & Client Engagement, Broadcast Distribution, Content Creation &Management, Others), by Cloud Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), by Vertical (BFSI, Healthcare & Life Sciences, Retail & E-Commerce, IT & Telecom, Education, Government & Public Sector, Media & Entertainment, Others), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

The Video as a Service (VaaS) Market size was valued at USD 4.51 Bn in 2022 and is expected to reach USD 67.86 Bn by 2030, and grow at a CAGR of 40.31 % over the forecast period 2023-2030.

Video as a Service (VaaS) is a delivery paradigm that outsources multiparty or point-to-point video conferencing capabilities to a managed service provider over an IP network. It is a visual communication service that includes capabilities including calling, recording, archiving, and endpoint management. For firms who do not presently want or have the cash or equipment to choose for corporate video communication services, video as a service is a simple and dependable solution. It enables the transmission of full-motion video pictures with high-quality audio from one place to another. Cloud-based video services enable enterprises to swiftly implement video conferencing with minimal infrastructure expenditure. Employee collaboration and customer-facing services are made possible by VaaS, which eliminates the need to worry about networks and underlying technology.

MARKET DYNAMICS:

KEY DRIVERS:

• The need for real-time and distant video services is increasing.

• Enterprise use of cloud-based services.

• Worldwide the number of internet users is growing.

• Lower overall ownership costs.

RESTRAINTS:

• Concerns about data security and privacy.

• Issues with network connection and infrastructure.

OPPORTUNITY:

• The rise of 5G will increase the usage of cloud services.

• VaaS is widely used by SMEs.

• BYOD and CYOD trends are becoming more popular.

CHALLENGES:

• Different video conferencing solutions have limited compatibility.

• Poor internet speed might degrade service quality.

IMPACT OF COVID-19:

The COVID-19 epidemic has posed a significant challenge to the post-pandemic business environment. Lockdowns have been established by governments all around the world in order to stop the spread of the illness. As a result, people are using Video as a Service to limit themselves at home for an extended amount of time. This might increase viewing and engagement on video streaming platforms. Furthermore, due to remote work platforms for online video conferencing, enterprises are adopting Video as a Service during the pandemic epidemic. During the pandemic epidemic, enterprises in both developed and developing nations employed video as a service widely to extend digital operations by reducing manual procedures. As a result, the Video as a Service market is expected to develop during the COVID-19 pandemic.

MARKET ESTIMATION:

In 2021, the corporate communications segment led the market and will continue to grow at the quickest CAGR over the projected years. This expansion may be due to the rising demand for real-time and remote access video services among organizations, as well as the use of cloud-based services. The global COVID-19 epidemic has hampered the operational efficiency and productivity of organizations and employees. During the pandemic, usage of VaaS increased considerably, leading to sector growth. Training and development, marketing and client interaction, broadcast distribution, content production and management, and more applications are also available. In 2021, the marketing & client engagement category held a significant market share.

In 2021, the hybrid cloud segment will dominate the market. The significant transition to a hybrid approach that matches the nature of diverse workloads can be ascribed to the high share. Organizations can keep their external capabilities with major public cloud providers while retaining relatively minor workloads in a private cloud situated in-house or on-premises using the hybrid cloud deployment strategy. Deploying a cloud video under a SaaS model relieves enterprise IT teams and clients of the responsibility of managing the environment. Private cloud deployment enables businesses to establish their cloud on-premises, which may then be combined with the public cloud in a public-private hybrid cloud architecture.

In 2021, the education category dominated the market. The large percentage can be linked to the COVID-19 pandemic's required Work-from-Home (WFH) and online education regulations. Distance education, access to Professional Learning & Development (PLD) programs, and remote employment were all supported in schools, colleges, and other learning institutions. Because of the coronavirus outbreak, the sector has grown via the use of distant education and instruction. BFSI, healthcare & life sciences, retail & e-commerce, IT & telecom, government & public sector, media & entertainment, and others are among the other VaaS market verticals. Because of the fast progress of the cloud-based collaboration and communication software business, the IT & telecom category is predicted to increase significantly during the projection period. Team collaboration and communication software enable remote teams to handle projects of all sizes, optimize business procedures, and increase organizational efficiency.

KEY MARKET SEGMENTS:

On The Basis of Application

• Corporate Communications

• Training & Development

• Marketing & Client Engagement

• Broadcast Distribution

• Content Creation &Management

• Others

On The Basis of Cloud Deployment Mode

• Public Cloud

• Private Cloud

• Hybrid Cloud

On The Basis of Vertical

• BFSI

• Healthcare & Life Sciences

• Retail & E-Commerce

• IT & Telecom

• Education

• Government & Public Sector

• Media & Entertainment

• Others

REGIONAL ANALYSIS:

In 2021, North America will lead the worldwide Video as a Service market. Because of the increased acceptance of Video as a Service by businesses for real-time collaboration and communication, the United States is the region's primary market. Furthermore, the presence of well-established firms offering Video as a Service is projected to strengthen the market in North America. During the forecast period, the Asia Pacific Video as a Service market is expected to rise rapidly. This might be linked to increased government activities in many countries to promote digital experiences to customers and address consumer expectations by embracing cloud Video as a Service platform.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

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.

Frequently Asked Questions (FAQ) :