The global enterprise video market size is expected to reach USD 33.72 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The growing demand from organizations to enhance collaboration between internal and external stakeholders, and maximize customer engagement has resulted in increased adoption of solutions such as video conferencing and webcasting, drive the market growth. The rise in the number of online video viewers is anticipated to provide lucrative opportunities to the market players, as marketers are focusing on the promotion of brands through videos. In 2016, there were about 700 million video viewers, which has risen to 2.6 billion in 2019. The marketers promote brands of their clients through demos, events, explainers, and customer testimonials/case studies, among others. Moreover, proliferation of 4G-enabled mobile devices and rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.
The synergy of enterprise video and digital signage has enabled companies to improve brand awareness, product awareness, and customer engagement that is anticipated to drive the growth of the market. The use through signage and kiosks at branch locations is helping banks create differentiation of business strategies and increase customer value, while increasing the promotion and uptake of its products and services such as credit cards and loans, among others. Furthermore, various venture capital firms are providing funding to various start-ups involved in the development of these solutions such as Vbrick, Pexip ASA, and Grabyo, among others, which is impacting the market growth positively. For instance, in June 2018, Morgan Stanley Expansion Capital provided funding worth USD 20 million to Vbrick, a developer and provider of enterprise video software for the corporate sector.
Various companies, such as Microsoft Corporation; IBM; and Cisco Systems, Inc. are emphasizing the development of live streaming applications, which is anticipated to boost the market growth. For instance, in October 2019, IBM launched its IBM Video Streaming platform that allows users to broadcast multiple live-streamed contents. The app offers organizations to take full control over the content including transcription, ingestion, storage, and metadata content management. Governments in response to the outbreak of the COVID-19 pandemic are focusing on providing funds to law enforcement agencies in adopting these solutions for remotely carrying out their operations. For instance, in April 2020 the Ohio Supreme Court announced a funding worth USD 4 million to high courts for purchasing video conferencing systems.
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/enterprise-video-market
Key Takeaways from the report:
- The incumbents in the gaming industries such as Rovio Entertainment Corporation; Activision Publishing, Inc.; and Electronic Arts Inc.; are increasingly focusing on the adoption of social media and content sharing platforms for targeting potential customers. This is expected to enhance the growth of the video content management segment
- The reduction in costs provided by managed service providers is anticipated to boost the growth of the managed services segment. These services reduce the recurring in-house costs by 30 to 40%
- Owing to the growing emphasis of cloud computing companies such as Amazon Web Services, Inc. and Microsoft Corporation on establishing robust security and compliance standards, the cloud segment is anticipated to grow significantly
- The marketing and client engagement segment is anticipated to register the highest CAGR on account of the increasing demand for influencers from various advertising and marketing firms
- In July 2019, Amazon Web Services, Inc. included Dynamic Adaptive Streaming over HTTP capability in its Amazon Kinesis Video Streams that will enable developers to playback their ingested streams using HTTP-based media streaming protocol. Such initiatives are expected to drive the growth of the adaptive streaming delivery technique segment
- The SME segment is anticipated to expand at the highest CAGR over the forecast period on account of increasing adoption of freemium-based solutions such as Zoom Video Communications, Inc.
- Various government agencies including the U.S. Department of Health and Healthcare U.K., among others are focusing on holding webcasts such as NYS Health Research Science Board Business Meeting & Public Hearing held in May 2020. It is expected to drive the growth of the healthcare segment
Request For Free Sample Report @ https://www.grandviewresearch.com/industry-analysis/enterprise-video-market/request/rs1
Grand View Research has segmented the global enterprise video market based on solution, services, application, deployment, delivery technique, organization size, end use, and region:
Enterprise Video Solution Outlook (Revenue, USD Million, 2016 – 2027)
- Video Conferencing
- Video Content Management
Enterprise Video Services Outlook (Revenue, USD Million, 2016 – 2027)
- Integration & Deployment
- Managed Service
- Professional Service
Enterprise Video Deployment Outlook (Revenue, USD Million, 2016 – 2027)
Enterprise Video Application Outlook (Revenue, USD Million, 2016 – 2027)
- Corporate Communications
- Training & Development
- Marketing & Client Engagement
Enterprise Video Delivery Technique Outlook (Revenue, USD Million, 2016 – 2027)
- Downloading/ Traditional Streaming
- Adaptive Streaming
- Progressive Downloading
Enterprise Video Organization Size Outlook (Revenue, USD Million, 2016 – 2027)
- Large Enterprise
- Small & Medium Enterprise (SME)
Enterprise Video End-use Outlook (Revenue, USD Million, 2016 – 2027)
- IT & Telecom
- Banking, Financial Services and Insurance (BFSI)
- Healthcare & Life Sciences
- Media & Entertainment
- Retail & Consumer Goods
Enterprise Video Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
List of Key Players of Enterprise Video Market
- Adobe, Inc.
- Avaya Inc.
- Brightcove Inc.
- Cisco Systems, Inc.
- Microsoft Corporation
- Polycom, Inc.
- VBrick Systems
Browse Related Reports :
Same Day Delivery Market Size, Share & Trends Analysis Report By Type (B2B, B2C, C2C), By Service (International, Domestic), By Region (North America, Europe, APAC, LATAM, MEA), And Segment Forecasts, 2020 – 2027
Rich Communication Services Market Size, Share & Trends Analysis Report By Communication Type (A2P, P2A, P2P), By Vertical (Retail, Media & Entertainment, BFSI), By Region, And Segment Forecasts, 2020 – 2027
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States