New York, USA, May 30, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Enterprise Video Market Information By Component, By Application, By Delivery Mode, By Industries, And By Region – Market Forecast Till 2032”, the Enterprise Video Market could thrive at a rate of 9.13% between 2023 and 2032. The market size will reach around USD 31.17 Billion by the end of the year 2030.
Enterprise Video Market Synopsis:
Cloud-based solutions have a number of advantages, including scalability, affordability, and usability. Since cloud-based video platforms offer a centralized place for storing, managing, & distributing video material, many businesses are using them to store and manage their video content.
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Market Competitive Landscape:
The affluent companies in the Enterprise Video industry include:
- Kaltura
- Rimage Corporation
- Cisco Systems
- International Business Machines
- Verizon Communications
- Microsoft Corporation
- Polycom
- Avaya Inc.
Scope of the Report - Enterprise Video Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 31.17 Billion |
| CAGR during 2023-2032 | 9.13% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Need to improve operational efficiency and productivity |
| Key Market Dynamics | Increaing the number of users of the internet in the world |
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Latest Industry Updates:
March 2023: Pimloc, a privacy technology company based in the UK has lately released the CloudConnect API to safeguard enterprise video capture against privacy threats. The healthcares, automotive, & TV production sectors, which frequently contain endless hours of video footage, are perfect candidates for this approach.
Market Drivers:
With the use of video analytics tools, businesses can learn more about how the video content is being seen, which allows them to optimize it and enhance their marketing tactics. These technologies can also keep an eye on user activity and look for any security risks. Many educational institutions are also utilizing multimedia presentations and films more often in order to enhance learning through visual records of webinars and courses. The adoption of video material for educational purposes has been encouraged by the rising smartphone adoption and the accessibility of high-speed internet.
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Market Restraints:
The high installation cost, the need for specialist assistance, concerns about data security, issues with network connectivity, & dearth of good capacity communication infrastructure may act as market restraints in the forecast period.
COVID 19 Analysis:
Due to the increasing need for workplace collaboration software as some businesses adopted remote working strategies during the pandemic, the worldwide COVID-19 crisis has favorably impacted the industry. Video conferencing & content management are in high demand as a result of the expanding remote working trend. The need for team communication tools is growing, which drove the big IT firms like Google LLC, Microsoft, & Zoom Video Communications, Inc. to create video conferencing solutions.
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Market Segmentation:
- By component - hardware will lead the market over the forecast period.
- By application - corporate learning will domineer the market over the forecast period.
- By delivery mode - video conferring will spearhead the market over the forecast period.
- By industries - healthcare will have the lions share in the market over the forecast period.
Regional Insights:
This market is dominated by North America. The rising use of the video conferencing solutions especially in the local business is what is driving the growth of this regional market. Additionally, significant market participants in the area, particularly in the United States., are anticipated to drive market revenue. In addition, the presence of eminent industry players like Adobe, Cisco Systems, Inc., IBM, and Microsoft in the area contributes to market expansion. The availability of high-speed internet and the expanding demand for virtual meetings have opened up significant commercial potential in the United States. In addition, it is anticipated that in the future years regional market growth would be fueled by the rising demand for the virtual private networks among several enterprises and educational institutions. The market is dominated by the United States. The market is fueled by the growth of SMEs searching for greater collaboration opportunities as well as the migration of major corporations for improved video conferencing & content management systems. The increasing investments in research & development activities for creating new technologies, like AI, ML, cloud, and 5G, in the area that has stable and well-established economies, like the US and Canada, is primarily responsible for the revenue growth in the North American market.
Due to improvements in mobile broadband technology, the Asia-Pacific market is anticipated to expand at a substantial CAGR over the projected period. Additionally, it is projected that growing consumer awareness of the advantages of video conferencing solutions especially in the healthcare industry would fuel market expansion. Additionally, the Indian market for enterprise video was a rapidly expanding industry in the Asia-Pacific region, and China's Enterprise Video market had the greatest market share. With rising media consumption in the area, the market is expected to rise admirably.
The market is benefiting from the development of network infrastructure & the presence of numerous small and medium-sized businesses in China and India. In addition, the rising acceptance of online learning and remote education in countries like Australia, Japan, Singapore, China, and India is opening up a wealth of potential for market participants. Adoption of solutions which guarantee good communication is required due to the region's businesses' increasing globalization. Due to the BYOD idea that is now popular inside organizations, video streaming enables people to work remotely and productively, which is projected to propel the expansion of the worldwide enterprise video market within the Asia-Pacific region.
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