Enterprise Video Market Size is Projected to Reach USD 12,140 Million by 2026 at CAGR 13.9% | Valuates Reports
BANGALORE, India, Jan. 7, 2021 /PRNewswire/ -- The Enterprise Video Market is Segmented by Type (Enterprise Video Platform, Enterprise Video Conferencing Endpoint, Others), Application (Corporate, Government, Education, Media & Entertainment, Other), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Internet Software category.
The global Enterprise Video market size is projected to reach USD 12,140 Million by 2026, from USD 5,561.7 Million in 2020, at a CAGR of 13.9% during 2021-2026.
Major factors driving the Enterprise Video market size are, need to improve operational efficiency and employee productivity, the need to connect the remote workforce, increasing number of internet users around the world, increasing smartphone adoption across the world, growing demand for video streaming, and surge in adoption of video marketing strategy.
The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition.
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Covid-19 Impact On Enterprise Video Market Size
The COVID-19 had a positive impact on the enterprise video market size as the use of enterprise video for enterprise collaboration and communication is increased. The pandemic has also disrupted corporate performance and employee morale around the globe. The adoption of enterprise video solutions and services helped employees to stay connected with the organization.
Enterprise Video Market Size
The need to improve operational efficiency and employee productivity is expected to drive the enterprise video market size. The lack of strong communication tools dramatically decreases the efficiency of employees. Low quality of video streaming and disruption during video conferencing significantly restricts communication between workers, especially in the COVID-19 situation. As a result, several video solutions providers are developing advanced noise cancellation technologies.
Through on-demand video recordings, employees undergo training to develop new skills. The video helps pass on accurate information captured by trainers, executives, and colleagues that can be viewed globally. In addition, numerous companies have highlighted emphasized video channels for external operations, including sales, publicity, broadcasting of public events, and clients and partners' training. These factors are, in turn, expected to drive the on-demand video market size.
In addition, there has been a substantial increase in usage and easy access to video content as a result of the increasing penetration of smartphones and the availability of the internet, which has a positive effect on the adoption of video content for educational purposes. The high level of adoption of digital media across industry verticals has led to an increasing tendency of viewers towards different streaming solutions and services that have provided lucrative opportunities for market players.
In addition, there has been a substantial increase in usage and access to video content as a result of the increasing penetration of smartphonesand the availability of the internet. This, in turn, is fueling the growth of the Enterprise Video Market size. The high level of adoption of digital media across industry verticals has led to an increasing tendency of viewers towards different streaming solutions & services and has created lucrative opportunities for Enterprise Video Market players.
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Enterprise Video Market Share Analysis
North America is expected to hold the largest Enterprise Video market share during the forecast period. This dominance of North America is attributed to the presence of leading market players in the region. Furthermore, the increased demand for visual meetings and continuous access to high-quality internet has stimulated the growth of the U.S. Enterprise Video Market.
Asia Pacific is projected to grow to the highest CAGR during the forecast period as media consumption has increased dramatically, especially due to the change from conventional media to digital media. In addition, there has been an increasing demand for connected devices that can support digital media and high-speed Internet technology, allowing customers to access videos from anywhere. This is expected to drive the growth of the Enterprise Video Market size in the Asia-Pacific region.
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Enterprise Video Market by Type
- Enterprise Video Platform
- Enterprise Video Conferencing Endpoint
Enterprise Video Market by Application
- Media & Entertainment
Key Major Vendors
- Cisco Systems
- ThePlatform (Comcast Technology Solutions)
- IBM Cloud Video
- Sonic Foundry
- Agile Content
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