The video-as-a-service (vaas) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Video-As-A-Service (VaaS) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The video-as-a-service (vaas) market size has grown exponentially in recent years. It will grow from $4.57 billion in 2023 to $5.53 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to increased use of mobile devices, security and compliance requirements, rise in remote work, globalization of businesses, cost savings and scalability, improved internet connectivity.
The video-as-a-service (vaas) market size is expected to see exponential growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to hybrid work models, vertical-specific solutions, increased focus on user experience, green initiatives and sustainability, customization and api development. Major trends in the forecast period include integration with unified communications , cloud-based video services, focus on security and compliance, ai-enhanced video capabilities, virtual events and webinars, real-time analytics and insights, continuous software updates and feature enhancements.
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Scope Of Video-As-A-Service (VaaS) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Video-As-A-Service (VaaS) Market Overview
Market Drivers –
The increase in number of internet users worldwide is expected to propel the video-as-a-service (VaaS) market. Internet users are those who actively participate in online communities or on the Internet. The Internet is a vast network of computer networks that provides access to information resources over a variety of private, public, commercial, academic, and governmental networks. Video-as-a-service (VaaS) helps internet users with live streaming, home security, video on demand, and other tools that improve professional and personal interactions. For instance, in November 2022, the International Telecommunication Union, a Switzerland-based United Nations agency overseeing technology and communication, reported that approximately 5.3 billion people, constituting 66% of the global population, utilize the internet. This reflects a 6.1% increase compared to 2021. Therefore, the increasing number of internet users around the world is driving the growth of the video-as-a-service (VaaS) market.
Market Trends –
Major companies operating in the market are focused on research and development for technological advancements, such as AI-powered hybrid video conferencing solutions, that could provide better solutions and strengthen their position in the market. An AI-powered hybrid video conferencing solution is a technology that incorporates artificial intelligence (AI) to enhance and optimize virtual meetings in a hybrid work environment. For instance, in February 2023, Qualcomm Technologies Inc., a US-based technology company, released an AI-powered video conferencing solution, the Qualcomm QCS8250 Video Collaboration Reference Design. This technology enhances the future of work by delivering superior audio and video performance, creating more engaging and immersive hybrid video conferencing experiences. The Qualcomm AI Suite for Video Collaboration and Video Conferencing is integral to this solution, offering premium features such as dynamic group and speaker framing, along with noise suppression. This all-in-one solution provides a top-tier video collaboration experience tailored for enterprise conferencing applications, including compatibility with platforms such as Microsoft Teams and Zoom Rooms.
The video-as-a-service (vaas) market covered in this report is segmented –
1) By Type: Managed Services, Broadcasting Video Communication, Video Conferencing, Video Content Management, Real-Time Video Monitoring, Professional Services, Consulting, System Integration, Support And Maintenance
2) By Deployment Model: Private Cloud, Public Cloud, Hybrid Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
4) By Applications: Corporate Communications, Training And Development, Marketing And Client Engagement
5) By Industrial Verticals: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) & Telecom, Healthcare And Life Sciences, Education, Media And Entertainment, Government And Public Sector, Retail And Consumer Goods, Other Industrial Vertical
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Regional Insights –
North America was the largest region in the video-as-a-service (VaaS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video-as-a-service (vaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the video-as-a-service (vaas) market report are Amazon Web Services Inc., Avaya Holdings Corp, BlueJeans Network Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Zoom Video Communications Inc., Microsoft Corporation, Google LLC, LogMeIn Inc., Lifesize Inc., Adobe Inc., Arkadin SAS, AT&T Inc., BroadSoft Inc., BT Group plc, Fuze Inc., InterCall, Kaltura Inc., Level 3 Communications LLC, Orange SA, Polycom Inc., Premiere Global Services Inc., RingCentral Inc., StarLeaf Ltd., Tata Communications Ltd., Vidyo Inc., Vodafone Group plc, West Corporation, ZTE Corporation, GoToMeeting by LogMeIn Inc.
1. Executive Summary
2. Video-As-A-Service (VaaS) Market Report Structure
3. Video-As-A-Service (VaaS) Market Trends And Strategies
4. Video-As-A-Service (VaaS) Market – Macro Economic Scenario
5. Video-As-A-Service (VaaS) Market Size And Growth
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27. Video-As-A-Service (VaaS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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