Global Video-as-a-Service (VaaS) Market Highlights over 2022 – 2031
The global video-as-a-service (VaaS) market is estimated to grow at a CAGR of ~13% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing demand for video conferencing services, backed by growing remote work culture. As work from home culture is gaining prominence, there is a critical need for video conferencing and collaboration skills amongst the employees. In fact, it has been observed that over 33% or one-third of the employees were working remotely across the globe, in 2021. The growing number of employees working remotely, is estimated to primarily drive the demand for video-as-a-service market. In addition to this, VaaS services are also required to improve communication, engagement, and boost productivity for the digital workforce, which is further anticipated to boost the market growth. Along with this, demand for video surveillance systems, is another major factor projected to propel the demand for the global VaaS market. Furthermore, the increasing investment for advancement of video conferencing services, such as, higher quality for video and audio, sharing text along with video, and full-motion video images, along with emergence of new video streaming platform, are estimated to fuel the market growth.
The market is segmented by deployment mode into public cloud, private cloud, and hybrid cloud, out of which, the hybrid cloud segment is anticipated to hold the largest share in the global video-as-a-service (VaaS) market over the forecast period as it is a combination of on-premise infrastructure, public, and private cloud computing services. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Video-as-a-Service (VaaS) Market Regional Synopsis
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 Asia Pacific region is estimated to witness highest growth over the forecast period on the back of presence of major market players delivering VaaS services in developing countries, such as, China, India, Japan, and South Korea. Moreover, adoption of advanced technologies in the APAC region, along with rising work from home culture in highly populated countries, are anticipated to boost the regional market growth.
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.
The global video-as-a-service (VaaS) market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global video-as-a-service (VaaS) market includes the following segments:
By Platform
- Application Management
- Device Management
- Network Management
- Others
By Device Type
- Mobility Devices
- Enterprise Computing
By Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
By End-User Industry
- Defense
- BFSI
- Healthcare
- IT & Telecom
- Media & Entertainment
- Others
Growth Drivers
- Increasing Demand for Video Conferencing Services
- Growing Need for Video Surveillance
Challenges
- High Cost of Video Content Creation
- Growing Inter-Market Competition
Top Featured Companies Dominating the Market
- Cisco Systems, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Huawei Technologies Co., Ltd.
- Adobe Inc.
- Blue Jeans Network Inc. (Verizon)
- Avaya Inc.
- Zoom Video Communications, Inc.
- LogMeIn, Inc.
- Plantronics, Inc.
- Amazon Web Services, Inc.
- Ring Central, Inc.
