Published Date: 2-Nov-2021
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According to a new report Global Video as a Service Market, published by KBV research, The Global Video as a Service Market size is expected to reach $7.1 billion by 2027, rising at a market growth of 8.4% CAGR during the forecast period.
The corporate communication segment accounted for the highest revenue share in the market in 2020 and is estimated to display the fastest growth rate during the forecast period. It is due to the higher demand for real-time & remote access video services and the high adoption of cloud-based services among companies. The global COVID-19 pandemic has negatively impacted the efficiency of business operations and productivity of employees & company around the globe. Thus, the corporate communications segment would witness substantial growth over the forecast period.
The hybrid cloud segment showcases highest growth rate during the forecast period. It is due to the factors like the shifting preference of the companies toward a hybrid model that supports different workload models. Under this hybrid cloud deployment model, companies can manage their external capabilities along with large public cloud providers as well as retaining comparatively lower significant workloads in a private cloud located on-premises and in-house.
The Asia Pacific is anticipated to emerge as the fastest-growing region in the video as a service market during the forecast period. The high focus of the governing bodies and business communities on fueling technology innovation along with the increasing demand for emerging high-quality internet infrastructure in the region due to the pandemic has helped many individuals to work remotely. The high shift of the companies to the remote working infrastructure has surged the demand for collaboration tools, video conferencing equipment, and accessories, which would further augment the growth of the regional market. In addition, developments in mobile broadband technologies in emerging nations like Japan and India are estimated to propel the growth of the regional market.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Google, Inc., Amazon.com, Inc., Microsoft Corporation, Adobe, Inc., Cisco Systems, Inc., Zoom Video Communications, Inc., Avaya Holdings Corporation, Plantronics, Inc. (Polycom, Inc.), RingCentral, Inc., and Zoho Corporation Pvt. Ltd.
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