Video-as-a-Service (VaaS) Market to Grow by a CAGR of ~13% during 2022 – 2031; Remote Working Culture to Promote the Market Growth
Video-as-a-Service (VaaS) Market Projected to Grow by a CAGR of ~13% during 2022 – 2031
Research Nester published a report titled “Video-as-a-Service (VaaS) Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global video-as-a-service (VaaS) market in terms of market segmentation by platform, device type, deployment mode, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global video-as-a-service (VaaS) market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of end-user industry into defense, BFSI, healthcare, IT & telecom, media & entertainment, and others, out of which, the media & entertainment segment is estimated to gain notable share over the forecast period. This can be attributed to the increasing demand for video content in the media industry, along with penetration of live telecast of shows, games, and others.
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The global video-as-a-service (VaaS) market is estimated to grow on the back of increasing remote working which requires optimal connectivity amongst the employees through video conferencing services. Moreover, the growing adoption of video calls as a mode of communication amongst friends, along with rising demand for video content on social media sites, are anticipated to boost the market growth. Furthermore, the wide acceptance of video surveillance is also projected to boost the market growth.
On the basis of geographical analysis, the global video-as-a-service (VaaS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain noteworthy market share throughout the forecast period on the back of increasing prevalence of remote working culture amongst the employees. For instance, over 70% of the employees in the United States were working from home by the end of 2020. Moreover, the increasing adoption of advanced technology in the region is estimated to boost the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Adoption of Video Conferencing Services to Boost the Market Growth
Video conferencing is a vital part of the remote working culture, as employees have shifted to online video conferences to communicate, share ideas, and increase productivity. Owing to the growing prominence of work from home, the demand for video conferencing services is also bound to increase, which is anticipated to boost the market growth.
However, high cost of video content creation, and growing inter-market competition are expected to operate as key restraint to the growth of video-as-a-service (VaaS) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the video-as-a-service (VaaS) market which includes company profiling of Adobe Inc., Huawei Technologies Co., Ltd., Blue Jeans Network Inc., Avaya Inc., Zoom Video Communications, Inc., LogMeIn, Inc., Plantronics, Inc., Amazon Web Services, Inc., and Ring Central, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the video-as-a-service (VaaS) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Curious about this latest version of report? Obtain Report Details @ https://www.researchnester.com/reports/video-as-a-service-vaas-market/3877
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