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Classified in: Science and technology
Subjects: VDM, MRR

Enterprise Video Market worth $35.8 billion by 2029 - Exclusive Report by MarketsandMarketstm


CHICAGO, March 26, 2024 /PRNewswire/ -- The growth of hybrid work patterns, enhanced by cutting-edge technologies like AI, AR, and VR for individualised, immersive experiences, is what will propel the Enterprise Video Market in the future. The market's growth towards smooth, efficient, and impactful video communication and collaboration solutions will be further shaped by advancements in edge computing and 5G technology, as well as tight integration with collaboration tools and an emphasis on security, compliance, and environmental sustainability.

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The Enterprise Video Market size is expected to grow from USD 23.8 billion in 2024 to USD 35.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period period, according to a new report by MarketsandMarketstm.  Some crucial driving factors that leverage market growth include enhanced employee engagement and training, globalization and cross-border communication, integration of AI and analytics in video solutions, and demand for personalized customer experiences, among others.

Browse in-depth TOC on "Enterprise Video Market"

250 - Tables
60 - Figures
210 - Pages

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Scope of Report

Report Metrics

Details

Market size available for years

2018-2029

Base year considered

2023

Forecast period

2024?2029

Forecast units

Value (USD Billion)

Segments Covered

Offering, Application, Deployment Model, Organization Size, and Vertical

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

IBM (US), Zoom (US), Microsoft (US), Google (US), Avaya (US), AWS (US), Cisco (US), Poly (US), Adobe (US), GoTo (US), RingCentral (US), Kaltura (US), Haivision (Canada), Kollective Technology (US), MediaPlatform (), Notified (Sweden), ON24 (US), Enghouse systems (Canada), Brightcove (US), VIDIZMO (US), Panopto (US), VBrick (US), Qumu (US), Sonic Foundry (US)

 

The services segment will record a higher CAGR under offerings during the forecast period.

In the global Enterprise Video Market, the services segment is pivotal in offering support, maintenance, and consulting services to businesses using video solutions, which are covered broadly under professional and managed services. These services encompass installation, configuration, troubleshooting, and training to ensure seamless operation and optimal utilization of video platforms. For instance, a company providing enterprise video solutions may offer on-demand technical support to assist clients in resolving issues promptly, enhancing user experience, and maximizing the value derived from their investment in video technology. This proactive approach to service provision contributes to customer satisfaction and long-term partnerships in the Enterprise Video Market.

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Based on Solutions, video conferencing holds the largest share of Enterprise Video Market during the forecast period.

Video conferencing solutions are integral in the global Enterprise Video Market, facilitating real-time communication and collaboration among remote teams and stakeholders. These solutions enable users to conduct virtual meetings, share content, and interact face-to-face from different locations, enhancing productivity and efficiency in business operations. For instance, a multinational corporation may utilize a cloud-based video conferencing platform to host cross-border meetings, enabling geographically dispersed teams to collaborate seamlessly and make informed decisions. Such solutions streamline communication workflows, reduce travel costs, and foster agile decision-making processes, driving the adoption of video conferencing technologies across diverse industries.

By region, Asia Pacific will record the highest CAGR during the forecast period.

The Asia Pacific Enterprise Video Market is experiencing robust growth driven by regulatory reforms, technological innovation, and changing consumer behaviors. Countries like Australia, Singapore, and India have progressive regulatory frameworks promoting competition and innovation. The affordability and ease of enterprise video deployment would be the major driving factors for adopting cloud technologies. The increasing trend toward cloud-based solutions is expected to trigger the high growth of the Enterprise Video Market in this region. The rising adoption of various technologies, such as edge computing, IoT, NLP, and DRM, is expected to drive the need to store and process real-time data locally, thus increasing the demand for reliable and efficient Enterprise Video Market solutions. The increasing investments from private sectors, robust government support, and availability of a vast population drive the growth of new and emerging technologies in the region, especially in Australia & New Zealand, Singapore, China, Japan, and India.

Top Key Companies in Enterprise Video Market:

Some of the key players operating in the Open Banking solutions market are IBM (US), Microsoft (US), Avaya (US), Google (US), Adobe (US), Zoom (US), AWS (US), Cisco (US), among others.

Recent Developments

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Enterprise Video Market Advantages:

Report Objectives

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About MarketsandMarketstm

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MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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SOURCE MarketsandMarkets


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