Enterprise Video Market by Component (Solutions, Services), Solutions (Webcasting, Video Content Management, Video Conferencing), Application (Corporate Communications, Training & Development), Vertical, and Region - Global Forecast to 2023
“Rising internet penetration and growing demand for video streaming are expected to drive the overall growth of the enterprise video market.”
The enterprise video market is expected to grow from USD 13.5 billion in 2018 to USD 19.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. The enterprise video market is driven by various factors, such as rising internet penetration and growing demand for video streaming along with the increasing need of organizations for reducing operational expenses. However, network connectivity issues and lack of supporting infrastructure can hinder the growth of the market.
Services segment is expected to grow at the highest CAGR during the forecast period.
With the increasing adoption of enterprise video solutions, the demand for supporting services is also growing among end users. Enterprise video services include professional services and managed services. Professional service providers offer technical support to end users of enterprise video solutions. Adopting enterprise video services helps organizations focus on their core competencies rather than managing their enterprise video solutions.
BFSI vertical is expected to hold the largest market share during the forecast period.
Enterprise video solutions enable BFSI enterprises to carry out enhanced branch communication through the sharing of audio, video, and digital content with their customers. These solutions empower organizations to transform branches into sales and service channels without employing additional onsite staff. The deployment of enterprise video solutions in BFSI enterprises ensures improved accountability, enhanced risk management, excellent operational management, and improved end-to-end security governance. Growing demand among marketers for video-based marketing and sales of banking services and enhanced branch communications is driving the growth of the enterprise video market in the BFSI vertical.
APAC enterprise video market is expected to record the highest growth rate during the forecast period.
The APAC enterprise video market is expected to have the highest growth rate during the forecast period, due to the increase in demand for cloud-based enterprise video solutions. Growing economies of countries such as China, Australia & New Zealand, India, and Singapore provide huge opportunities for the adoption of enterprise video solutions and services across different industry verticals. North America is projected to hold the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the enterprise video market.
By company type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
By designation: C-level - 60%, D-level - 25%, and Others - 15%
By region: North America-20%, Europe-20%, APAC - 40%, MEA - 10% and Latin America - 10%
Major vendors offering manage services across the globe include IBM (US), Microsoft (US), Kaltura (US), Polycom (US), Cisco (US), Adobe (US), Avaya (US), Brightcove (US), Vidyo (US), VBrick Systems (US), MediaPlatform (US), Ooyala (US), Qumu Corporation (US), Panopto (US), Vidizmo (US), Amazon Web Services (US), Lifesize (US), BlueJeans Network (US), INXPO (US), RingCentral (US), Haivision (Canada), Sonic Foundry (US), Kollective Technology (US), ON24 (US), and join.me (US). The study includes in-depth competitive analysis of these key players along with their company profiles, recent developments, and key market strategies.
The market study covers the enterprise video market across segments. The report aims at estimating the enterprise video market size and future growth potential across different segments, such as component, deployment mode, delivery technique, application, vertical, and region.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall enterprise video market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook