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Global Video as a Service Market By Deployment, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

·15-min read

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. Video as a service includes the delivery of point-to-point video conferencing offering through an outside provider over an Internet Protocol (IP) network.

New York, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Video as a Service Market By Deployment, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06177791/?utm_source=GNW
Moreover, a video conference sets up a live and visual connection among two or more entities locating at different places for establishing a better communication. Along with that, video conferencing also offers the transmission of static images, full-motion video images as well as text between two or more locations with high-quality video and audio between various locations.

The high growth potential of video as a service market is attracting various companies to the market that are offering solutions similar to the ones already available in the market. Due to this, the companies operating in this market are now increasing their focus on the development of the latest features and capabilities to improve the functions of their VaaS solutions. Owing to the various features provided by cloud architecture such as high flexibility, cost-efficiency, and better scalability, companies are increasingly shifting from on-premises video conferencing & collaboration solutions to cloud-based solutions. The increasing popularity of cloud-based solutions is estimated to surge the demand for VaaS solutions in the market.

COVID-19 Impact

The outbreak of the global COVID-19 pandemic has negatively impacted the operations of almost every organization. The imposition of various restrictions like the travel ban, lockdown, and mobility restrictions has compelled organizations to utilize video conferencing for building better communication among the employees working remotely. This has positively impacted the demand for video as a service solution across the globe.

These solutions provide better communication and collaboration among individuals and teams, hence increased the adoption of these solutions among the companies during the pandemic. The disruption caused in the business efficiency across different industrial verticals has contributed to the increasing adoption of VaaS solutions by enterprises. Additionally, the features of VaaS like better client engagement, training, collaboration, and marketing would continue to expand the demand for VaaS solutions in post the pandemic.

Market Growth Factors:

Reduction in the overall cost of ownership

The deployment process of various business cloud service platforms is complex and needs a huge cost of ownership. Previously, companies have to specifically make infrastructure teams for the management of their cloud infrastructure on their servers. However, VaaS allows companies to minimize investments in developing the infrastructure since it is maintained by the Managed Services Providers (MSPs). Providers of various cloud-based solutions have service platforms implemented on their own servers.

Increasing demand for cloud services due to the introduction of 5G

With the introduction of 5G technologies, the cloud computing industry will witness major advancements. In addition, 5G enhances the integration of these advanced technologies with low to zero latency, which makes it more streamlined for communications. Improved mobile broadband would provide an effortless, best-quality experience for cloud video services like recording, conferencing, and storage.

Market Restraining Factor:

Increasing cases of data & security breaches

As video content is shared across different platforms, the chances of data and security breaches are high, which makes companies more concerned about their data. Additionally, there are several companies that are also more concerned about copyright and Digital Rights Management (DRM) owing to possibilities of information leakages, misuse, and data breaches. This may impede the growth of the video as a service market over the forecast period.

Deployment Outlook

Based on Deployment, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. The implementation of a cloud video in a SaaS model helps various companies’ IT teams and the customers to manage their environment. There are certain cloud solutions vendors like Microsoft that provide cloud video-related innovations to serve value-added VaaS. Some other cloud deployment modes of video services involve the public and private cloud. The private cloud deployment enables companies to implement their cloud and on-premises solutions that could be utilized in integration with the public cloud in a public-private hybrid cloud architecture.

Application Outlook

Based on Application, the market is segmented into Corporate Communications, Training & Development, Marketing & Client Engagement and Others. The marketing & client engagement segment acquired a significant market share in 2020. The content creation & management segment is anticipated to register substantial market growth during the forecast period. VaaS solutions would witness a surge in its adoption for the training & development activities, marketing & client engagement and better collaboration.

Industry Vertical Outlook

Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & Consumer Goods, Government & Defense, Education, Media & Entertainment and Others. The IT & telecom segment is anticipated to procure substantial growth during the forecast period due to the swift improvements in the cloud-based collaboration and communication software sector. Team collaboration & communication software help enterprises’ teams operating from different locations to maintain projects, simplify business procedures, and improve productivity across enterprises. The government & public sector is among the key sectors to witness a massive adoption of VaaS during the forecast period.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region by obtaining the highest revenue share in 2020. It is owing to the presence of various cloud-based VaaS solution vendors. The adoption of several video conferencing and communication solutions is also high in this region, which is supporting the growth of the regional market. In addition, the increasing demand for constant access to visual meetings and high-quality internet would contribute to the regional market growth. Additionally, the presence of various key market companies and the increasing popularity of Bring Your Own Device trend have resulted in the high adoption of webcams & headphones, which is estimated to bolster the growth of the market in this region.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Google, Inc., and Microsoft Corporation are the forerunners in the Video as a Service Market. Companies such as Zoom Video Communications, Inc., Avaya Holdings Corporation, Plantronics, Inc. are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.

Recent Strategies Deployed in Video as a Service Market

Partnerships, Collaborations, and Agreements:

Aug-2021: Avaya came into a partnership with Microsoft, an American multinational technology corporation. The partnership aimed to develop a robust set of joint cloud communications solutions to shape the future of customer and employee experience.

Jul-2021: Zoom Video Communications collaborated with Tata Teleservices, an Indian broadband and telecommunications service provider. This collaboration aimed to provide an intuitive, secure, and scalable communications solution to individuals and enterprises. In addition, the collaboration would expand the reach of Zoom to enterprises in around 60 cities where Tata Teleservices has its presence.

Jun-2021: Poly came into a partnership with CLIPr, a Video Analysis, and Management (VAM) platform. In this partnership, Poly became an investor, strategic partner, and customer of CLIPr, wherein Poly would use the platform internally for its recorded video assets like global sales meetings.

May-2021: Verizon Business entered into a partnership with RingCentral, an American publicly traded provider of cloud-based communications and collaboration solutions for businesses. The partnership aimed to combine cloud-based enterprise communication solutions with integrated team messaging, video meetings, and a cloud phone system to enterprise businesses, laying the foundation for an enriched workplace experience and providing workers the ability to work and collaborate from anywhere.

Feb-2021: Cisco Webex teamed up with Masergy, the software-defined network and cloud platform for the digital enterprise. This collaboration aimed to improve Masergy Unified Communications as a Service (UCaaS) solution by integrating hosted UC calling platform of Masergy and Cisco Webex into a single application experience, which would enable customers to add Masergy’s Managed SD-WAN Secure connectivity services.

Jan-2021: Microsoft extended its partnership with SAP SE, a German multinational software corporation. This expanded partnership aimed to integrate Microsoft Teams with SAP’s intelligent portfolio of solutions, which would streamline users’ journeys to the cloud.

Dec-2020: Zoom formed a multi-year partnership with Amazon Web Services (AWS). Under this partnership, Zoom made AWS the enterprise video communications firm’s preferred cloud provider. Together, the companies would swiftly scale their service on the world’s leading cloud and serve reliable services and continuous innovation for its increased base of corporate and individual customers.

Oct-2020: Zoom joined hands with BT, a British multinational telecommunications holding company. This collaboration aimed to provide cloud-based video conferencing solutions as a managed service to BT users. In addition, this partnership made BT the first telecommunications major to offer managed Zoom solutions.

Sep-2020: Poly formed a partnership with StarLeaf, a global video conferencing and collaboration software company. Under this partnership, Poly would expand the advanced video collaboration features to StarLeaf meetings customers regardless of their working location.

Aug-2020: Poly entered into a partnership with RingCentral, an American publicly traded provider of cloud-based communications and collaboration solutions. This partnership aimed to consolidate any workspace requirements into a reduced number of devices along with enabling a new wave of rooms intelligence, analytics, and manageability.

Jun-2020: Amazon Web Services partnered with Slack Technologies, an American international software company. This partnership aimed to assist distributed development teams interact and become more efficient & agile in the management of their AWS resources from inside Slack. In addition, Slack would shift its Slack Calls capability for all voice and video calling to Amazon Chime, AWS’s communications service, which helps customers to meet, chat and place business calls.

May-2020: Microsoft came into a partnership with Sony Semiconductor Solutions, the global leader in image sensors. This partnership aimed to make AI-powered smart cameras & video analytics solutions more available for users. Together, the companies would incorporate Microsoft Azure’s AI capabilities on Sony’s intelligent vision sensor IMX500 that extracts useful data out of images in smart cameras and other such devices.

Feb-2020: Avaya came into a partnership with RingCentral, an American publicly traded provider of cloud-based communications and collaboration solutions for businesses. Under this partnership, the companies launched Avaya Cloud Office by RingCentral. Avaya Cloud Office helps customers to realize how easy it is to communicate utilizing a unified solution, which provides team messaging, calling, video conferencing, file sharing, and collaboration.

Acquisitions and Mergers:

Sep-2021: Microsoft took over Clipchamp, a start-up with software that consumers and corporate workers can use to edit videos. This acquisition aimed to enable Microsoft to improve Clipchamp’s video editing technology with Windows and combine the product offerings accessible via Microsoft 365.

Aug-2021: Microsoft completed the acquisition of Peer5, the world’s largest peer-to-peer (p2p) content delivery network. This acquisition aimed to improve the company’s enterprise video-streaming capabilities.

Aug-2021: Adobe signed an agreement to acquire Frame.io, a leading cloud-based video collaboration platform. This acquisition aimed to integrate Adobe’s strength in video creation & production with Frame.io’s cloud-native platform.

Jul-2021: YouTube entered into an agreement to acquire simsim, a video-based social commerce start-up. This acquisition aimed to assist viewers in discovering and buy products from local businesses.

Jun-2021: AWS took over Wickr, an innovative company. This acquisition aimed to develop the industry’s most secure, end-to-end encrypted, communication technology. Through Wickr, users and partners of AWS would get benefits from improved security features that are not available with conventional communications services across voice calling, messaging, video calling, file sharing, and collaboration.

Dec-2020: RingCentral took over DeepAffects, a leading conversational intelligence pioneer. This acquisition aimed to evaluate business conversations and generate meaningful insights along with supporting RingCentral’s swift innovation to develop smarter video meetings.

Product Launches and Product Expansions:

Sep-2021: Zoom introduced a video contact center product called Video Engagement Center. This product would enhance troubleshooting, build trust and automate daily tasks.

Sep-2021: Poly introduced the addition of the Poly Studio X70 and Poly Studio E70 to its portfolio of video conferencing solutions. The Poly Studio portfolio is developed to upgrade the video collaboration experience and produce meeting equality by bringing pro-grade audio & video to big workspaces.

Jun-2021: Zoom Video Communications unveiled Zoom Phone Appliances, a new category of hardware. Zoom Phone Appliances integrate Zoom technology with hardware from Poly and Yealink to offer video & audio capabilities and touch display, in a single desk phone solution for phone calls, HD video meetings, and interactive whiteboarding.

Jun-2021: Avaya together with RingCentral launched its latest capabilities for the Avaya Cloud Office by RingCentral Unified Communications as a Service (UCaaS) solution. This solution includes many Avaya device-specific improvements offering simple migration, additional video, and global expansion features helping customers to connect across any device and work environment.

May-2021: Zoom released a paid platform Zoom Events. This platform enables customers to host large-scale virtual events and monetize small and large events such as sales summits and user conferences focused on recreating the in-person experience.

Apr-2021: RingCentral launched a host of new features for its RingCentral Video product. The latest functionality involves video virtual backgrounds, presenter overlay, breakout rooms, and picture-in-picture mode.

Mar-2021: Avaya released new devices developed to substantially enhance workstream collaboration. This launch would involve a redeveloped Avaya Vantage K155 with Amazon Alexa built-in, along with a new Avaya IP Conference Phone B129, and Avaya Huddle Camera HC010.

Mar-2021: Google launched a new tool called Threadit to increase the efficiency of remote working. Threadit helps customers to send small recorded videos to team members for communication on the progress of work and other matters.

Feb-2021: RingCentral released new innovations in RingCentral Embeddable for RingCentral Video and Call Supervision, Monitoring, and Streaming API. These enhancements are developed to assist developers to bring enhanced communications capabilities to their business apps.

Feb-2021: Poly launched the Poly Studio P Series, the industry’s first professional-grade personal video conferencing equipment. Such personal video conferencing devices provide the confidence, freedom, and professional edge to view and sound the best wherever duty calls.

Dec-2020: Cisco announced the redesigning of its Webex video meeting software. Through this redevelopment, the company targeted a larger share of the booming online collaboration market, by adding the latest features like background noise cancellation and a transcription service to the software.

Dec-2020: RingCentral launched a new product in its product portfolio, RingCentral Glip. This portfolio is a free, unlimited, easy-to-use solution that offers high quality and high-availability video and audio conferencing, effortlessly integrated with team messaging, contact, file sharing, task, and calendar management leading to Smart Video Meetings experience.

Nov-2020: Microsoft introduced an all-day video calling option to the Microsoft Teams. This new feature help Microsoft Teams customers to utilize the calls free for 24 hours that supports up to 300 participants.

Nov-2020: Avaya introduced new capabilities to the Avaya Spaces, the all-in-one video collaboration platform for the digital workplace. These new capabilities include an industry-best 61-participant concert view.

Sep-2020: Zoho Corporation launched Zoho Workplace, a single software platform. This platform brings together productivity, collaboration, and communications tools and combines them into other business procedures. Zoho Workplace offers a single platform with multi-faceted communications such as messaging, email, audio, and video conferencing; common team and collaboration paradigms developed into each of the products; a cloud office portfolio with shared file storage; and AI, search, and other services, which range right across the whole portfolio.

Geographical Expansions:

Apr-2021: RingCentral, together with Atos unveiled Unify Video by RingCentral in Europe. Unify Video is developed to improve online meetings and help people to work smarter and communicate & collaborate from anywhere.

Apr-2021: Amazon Interactive Video Service expanded its geographical reach by entering the Indian market with its first edge locations in Mumbai and Chennai with more points of presence in more cities. These new edge locations would allow streamers and viewers based in India to enjoy a 5-10 second latency live video experience.

Scope of the Study

Market Segments covered in the Report:

By Deployment

• Public Cloud

• Private Cloud

• Hybrid Cloud

By Application

• Corporate Communications

• Training & Development

• Marketing & Client Engagement

• Others

By Industry Vertical

• BFSI

• IT & Telecom

• Healthcare

• Retail & Consumer Goods

• Government & Defense

• Education

• Media & Entertainment

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• 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.

• Zoho Corporation Pvt. Ltd.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06177791/?utm_source=GNW

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