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(Hosting-NewsWire.com, June 08, 2018 ) The global enterprise video market is projected to grow from an estimated USD 16.34 Billion in 2017 to USD 40.84 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.1% from 2017 to 2022. The major drivers for the upsurge in demand in the market include the growing demand for video streaming and increasing internet penetration as well as exponentially increasing adoption of cloud technology across businesses.
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The enterprise video market has been segmented on the basis of type into video conferencing, video content management, and webcasting. The webcasting segment is expected to grow at the highest CAGR during the forecast period. Based on deployment mode, the market has been classified into cloud, hybrid, and on-premises. The cloud deployment segment is expected to hold the largest market share from 2017 to 2022. Based on application, the market has been segmented into knowledge sharing & collaboration, corporate communications, training & development, and marketing & client engagement. The marketing & client engagement application segment is expected to be the fastest-growing segment during the forecast period. Based on vertical, the market has been segmented into media & entertainment, IT & telecommunication, public sector & education, healthcare, retail & consumer goods, manufacturing, BFSI, transportation & logistics, and others. The media & entertainment industry segment is expected to hold the largest share in the enterprise video market from 2017 to 2022.
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As per regional analysis, North America is expected to hold the largest market share during the forecast period due to the early adoption of enterprise video solutions by a majority of the verticals in this region. The market for enterprise video in the Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The increasing adoption of new technologies by SMEs and increasing penetration of cloud technology and mobile devices are some of the major drivers contributing to the growth of the enterprise video market in the Asia Pacific region. The telecom, manufacturing, and educational sectors in this region are demanding various video enterprise solutions for better functioning and outputs. Due to a diversified geographic area and high customer base, the region is expected to exhibit strong growth in the enterprise video market.
A few of the restraining factors that affect the growth of the market include network connectivity & technical difficulties as well as concerns over the security of video content. Key players in the enterprise video market include Adobe Systems Incorporated (US), Brightcove Inc. (US), Avaya, Inc. (US), Vidyo, Inc. (US), VBrick Systems, Inc. (US), MediaPlatform, Inc. (US), Polycom, Inc. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Microsoft Corporation (US), Kaltura (US) and Ooyala, Inc. (US). These companies are focusing on developing innovative enterprise video solutions in collaboration with technological partners. High demand for the video as a tool to enhance communications and collaborations across enterprises has spurred the growth of the market in various countries across North America, Europe, and the Asia Pacific.
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