DUBLIN--(BUSINESS WIRE)--The "Global Enterprise Video Market Size, Share & Trends Analysis Report by Solution, by Services, by Deployment, by Application, by Delivery Technique, by Organization Size, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global enterprise video market size is expected to reach USD 48.85 billion by 2030, registering a CAGR of 13.8% from 2022 to 2030.
The drastic rise in the number of online video viewers is playing a major role in driving the market growth. According to the popular video streaming platform, YouTube, it has over 2 billion users, and around 5 billion videos are watched every day on the site. Moreover, several businesses are now including video as a part of their content marketing strategy, which, in turn, is positively influencing the market statistics.
The growth of the market is being further proliferated by the burgeoning demand for video conferencing and webcasting solutions across various organizations. They use these services to improve the collaboration between internal and external stakeholders and facilitate effective customer engagement.
The synergy between enterprise video and digital signage has helped organizations increase their brand awareness, product awareness, and customer engagement which will drive the market growth in the upcoming years. For instance, banks use signage and kiosks at branch locations to develop distinguished business strategies and create customer value. It helps banks to promote their products and services, such as loans, credit cards, etc.
Moreover, several venture capital firms are now providing funds to the startups developing enterprise video solutions. For instance, in March 2022, an Indian startup 100ms, Inc., engaged in the development of live video conferencing infrastructure, raised USD 20 million in a Series A funding round to enhance the next-generation video apps. The major players in the market are introducing innovative live streaming applications to gain a competitive edge in the industry. For instance, IBM Corporation provides an IBM Video Streaming platform that helps users broadcast multiple live-streamed content. This platform offers full control to the organizations over the content.
The emergence of the COVID-19 pandemic created remunerative opportunities for the enterprise video market due to increased demand for video conferencing solutions across various organizations and government institutions. As a response to the global health crisis, the governments across various countries are now allocating funds to the law enforcement agencies to help them incorporate enterprise video solutions to conduct their operations. To illustrate, in April 2020, the Ohio Supreme Court announced to allocate USD 4 million to the high courts for deploying video conferencing systems.
Enterprise Video Market Report Highlights
- The video content management segment is expected to gain traction with increasing investments in the social media and content sharing platforms by the gaming companies to target potential customers.
- The managed services segment is anticipated to grow significantly with the increased consumer demand as these services help in saving costs. These services cut the recurring in-house costs by around 30 to 40%.
- The increasing emphasis on cloud deployment by the major tech companies such as Amazon Web Services, Inc., and Microsoft to establish robust security and compliance standards, is expected to enhance the cloud segment outlook.
- The marketing and client engagement segment is set to record a substantial CAGR of 14.5% with rising demand for influencers across numerous advertising and marketing firms.
- The SME segment is estimated to witness a CAGR of more than 15.4% through 2030 owing to the increasing demand for freemium services, such as the one offered by Zoom Video Communications, Inc.
- The healthcare segment in the market is expected to showcase substantial growth as several government agencies, including Healthcare U.K., and the U.S. Department of Health, etc. are focusing on holding webcasts.
Market Dynamics
Drivers
- Growing need to reduce operational expenses and increase efficiency
- Increasing internet penetration and growing demand for video streaming
- Enterprise video as an effective tool for marketers
Restraints
- Security concerns
Opportunities
- Enterprise video as an effective tool for marketers
Companies Mentioned
- Adobe, Inc.
- Avaya Inc.
- Brightcove Inc.
- Cisco Systems, Inc.
- IBM
- Kaltura
- Microsoft Corporation
- Polycom, Inc.
- VBrick Systems
- Vidyo
For more information about this report visit https://www.researchandmarkets.com/r/akew2t
