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Video as a Service Market Analysis By Deployment Mode (Private cloud, Public cloud, Hybrid cloud), By Enterprise Size (Large enterprises, Small & medium enterprises), By Application (Corporate communications, Training & development, Marketing & client engagement), By Industry (BFSI, IT & telecom, Healthcare & life sciences, Education, Media & entertainment, Government & public sector, Retail & consumer goods, Others) & Forecast

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 274
  • CATEGORY
  • Information Communication & Technology
Market Overview:
The global video-as-a-service market size generated USD 4,270.18 million in 2022, and is projected to reach USD 15,650.13 million by 2032. The market is being driven by the increasing demand for remote communication and collaboration tools, especially in the wake of the COVID-19 pandemic, which has accelerated the adoption of video conferencing solutions. Cloud-based Video Communication: VaaS is a cloud-based video communication service that allows users to communicate and collaborate in real-time, regardless of their location. Users can access the service from anywhere, on any device, as long as they have an internet connection. High-quality Video and Audio: VaaS solutions offer high-quality video and audio, with features such as HD video, noise reduction, and echo cancellation. This helps to ensure that users can communicate effectively and without interruption. Scalability: VaaS solutions are highly scalable, allowing businesses and organizations to add or remove users and features as needed. This makes it easy to scale up or down as the needs of the organization change. Integration with other Tools: VaaS solutions can be integrated with other collaboration tools, such as messaging apps and project management tools. This helps to streamline communication and collaboration and make it easier for users to access all the tools they need in one place. Security and Compliance: VaaS solutions offer robust security features, including encryption, secure login, and access control. This helps to protect sensitive information and ensure compliance with data protection regulations. Analytics and Reporting: VaaS solutions offer analytics and reporting features that provide insights into how users are using the service. This can help businesses and organizations optimize their communication and collaboration strategies and identify areas for improvement.

The increasing demand for remote communication and collaboration tools is the main driver of the global video as a service market.
Video as a service (VaaS) solutions have emerged as a popular choice for businesses and organizations looking to improve their remote communication and collaboration capabilities. VaaS solutions offer a range of benefits, including the ability to communicate and collaborate in real-time, from anywhere in the world, as long as there is an internet connection. The VaaS market is expected to grow at a compound annual growth rate (CAGR) of over 20% during the forecast period (2021-2026), with a market size of approximately USD 10 billion in 2021. This growth is being driven by the increasing demand for remote communication and collaboration tools, as well as the continued innovation and development of VaaS solutions.
VaaS solutions offer a range of features that make them attractive to businesses and organizations, including high-quality video and audio, scalability, integration with other tools, security and compliance, and analytics and reporting. These features make it easy for businesses and organizations to communicate and collaborate effectively, regardless of their location. In conclusion, the increasing demand for remote communication and collaboration tools, driven in part by the COVID-19 pandemic, is the main driver of the global video as a service market. VaaS solutions offer a range of features that make them an attractive choice for businesses and organizations looking to improve their remote communication and collaboration capabilities, and we can expect to see continued growth and innovation in this market in the years to come.
Segmentation:
By Deployment Mode:
• Private cloud
• Public cloud
• Hybrid cloud
By Enterprise Size:
• Large enterprises
• Small & medium enterprises
By Application:
• Corporate communications
• Training & development
• Marketing & client engagement
By Industry:
• BFSI
• IT & telecom
• Healthcare & life sciences
• Education
• Media & entertainment
• Government & public sector
• Retail & consumer goods
• Others

Geography:
North America is currently the largest market for video as a service (VaaS), followed by Europe and Asia-Pacific. The dominance of North America is primarily due to the early adoption of VaaS solutions by businesses and organizations in the region, as well as the high demand for remote communication and collaboration tools. In addition, the presence of several major VaaS providers in North America, including Zoom Video Communications, Cisco Systems, and Microsoft Corporation, has also contributed to the region's dominance in the VaaS market.
However, the Asia-Pacific region is expected to witness the fastest growth in the VaaS market during the forecast period (2021-2026), driven by the increasing adoption of VaaS solutions in emerging economies such as China and India. The growth in the Asia-Pacific region is also being driven by the increasing demand for remote communication and collaboration tools, as well as the growth of several industries such as healthcare, education, and IT & telecom.
Impact of COVID-19 on the global Video as a Service Market:
The COVID-19 pandemic has had a significant impact on the video as a service (VaaS) market. With the pandemic forcing businesses and organizations to adopt remote work and communication practices, the demand for VaaS solutions has increased significantly. As a result, VaaS providers have experienced a surge in demand for their services, and the market has witnessed rapid growth. The pandemic has also accelerated the adoption of VaaS solutions by several industries such as healthcare, education, and government, which has further contributed to the growth of the market. The shift towards remote work and communication practices is expected to continue even after the pandemic, which will drive the demand for VaaS solutions in the long term.

Impact of the Russia-Ukraine War on the global Video as a Service Market:
The Russia-Ukraine conflict has also had an impact on the VaaS market. With several businesses and organizations located in the affected regions, there has been a need for remote communication and collaboration tools to enable them to continue their operations. VaaS solutions have been particularly useful in this regard, as they allow businesses and organizations to communicate and collaborate in real-time, regardless of their location. However, the conflict has also created challenges for VaaS providers, such as the need to ensure the security and privacy of their services in a potentially volatile and unstable environment. VaaS providers have had to implement additional security measures to protect their services from potential threats. In summary, the COVID-19 pandemic has driven the growth of the VaaS market, while the Russia-Ukraine conflict has highlighted the importance of remote communication and collaboration tools in enabling businesses and organizations to operate in challenging environments. While both events have had an impact on the VaaS market, the long-term trend towards remote work and communication practices is expected to continue to drive the growth of the market in the years to come.
Company Profiles:
• Adobe Inc.
• Amazon Web Services Inc.
• Cisco Systems Inc.
• Google LLC
• Huawei Technologies Co. Ltd.
• IBM Corporation
• Microsoft Corporation
• Poly (formerly Polycom Inc.)
• RingCentral Inc.
• Slack Technologies Inc.
• StarLeaf Ltd.
• TeamViewer AG
• Verizon Communications Inc.
• Vidyo Inc.
• Zoom Video Communications Inc.

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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