Global Enterprise Video Market - Segmented by Type (Video Conferencing, Video Content Management, Webcasting), Application (Knowledge Sharing & Collaboration, Corporate Communications, Training & Development, Marketing & Client Engagement), End-user Industry (BFSI, Retail, Healthcare, Education), and Region - Growth, Trends and Forecast (2018 - 2023)
The global enterprise video market is expected to grow at a CAGR of over 20%, during the forecast period of 2018-2023. As more organizations are transforming their operations by leveraging digital and mobile work-anywhere trends, video solutions are emerging as an interesting and nascent trend. Organizations are using video solutions to improve collaboration between internal and external stakeholders, maximize customer engagement, and enrich career development. Enterprise video has also emerged as a very critical element of a company’s content marketing strategy, for both internal and external operations. Streaming media players have reported whopping growths in content volumes and a steep rise in active users over the last five years. Enterprise video conferencing remains the most popular and most impactful segment in this market, as it allows enterprises to consistently, efficiently and quickly broadcast, enable messaging, provide training to employees and contractors, and facilitate collaboration.
Healthcare to Hold a Significant Market Share during the Forecast Period
Video solutions like conferencing have enabled easy medical support, and these solutions are available on-premise as well as cloud-based and hence are cost-effective, which makes them reasonable for both healthcare organizations as well as patients.
The major factor fueling the growth of the market is the overall rising shift and increasing healthcare IT spending towards telemedicine services. This is further supported by increased efforts by national governments for the betterment of their healthcare infrastructures.
However, factors like slow internet connections and financial challenges are restraining the growth of the market. Furthermore, complexities involved in the operation of these video conferencing equipment, low technology awareness and acceptance among the people is another factor contributing to the challenges of the market.
Key Developments in the Market
March 2018: Zoom Video Communications announced that IBM has embedded Zoom video meetings into IBM Watson Workspace Plus. Zoom has worked with IBM to develop the ability for any Workspace Plus user to escalate their chats to Zoom video meetings with a single click to the Workspace interface. IBM will embed and sell Zoom’s video communications service as the video component of Watson Workspace
Major Players: ADOBE SYSTEMS INCORPORATED, BRIGHTCOVE, INC., AVAYA, INC., VIDYO, INC., VBRICK SYSTEMS, INC, MEDIAPLATFORM, INC., POLYCOM, INC., and CISCO SYSTEMS, INC., amongst others.
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Regions which is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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