The Asia Pacific Video as a Service Market would witness market growth of 10.1% CAGR during the forecast period (2021-2027).
Video as a service is a communication model through which customers can establish communication with their employees and partners via video calls over the Internet by using the infrastructure of the vendors. By using this model, companies can connect two or more people who are located at different locations by transmitting static images, high-quality audio, full-motion video content, and text from one person to another. VaaS are cloud-based services, which can implement video conferencing platforms without the requirement of high-end infrastructure at the consumer end. Moreover, VaaS offers a host of benefits like low investment costs, reduced dependency over the in-house technical team, availability of constant technical support from VaaS vendors to tackle challenges faced during the usage of services, highly scalable to fulfill the increasing requirement for video collaboration. This would augment the demand for VaaS in the market.
The number of data privacy and security breaches is high in this region, which would create lucrative opportunities for the market players. Increasing investment in cloud services and solutions along with the high demand for real-time and remote access video services would surge the growth of the regional video as a service market in the forecast period. By adopting VaaS solutions, companies can strengthen their communication model over different platforms.
Due to such features, organizations are increasingly adopting VaaS to build a strong communication system that is very much required, particularly in the pandemic situation. The increasing adoption of various latest technologies and cloud-based solutions by the enterprises operating in the developing nations would accelerate the growth of the regional VaaS market. Moreover, the demand for video conferencing solutions and other VaaS solutions has surged in this region due to the pandemic, which would continue in the coming years.
The China market dominated the Asia Pacific Training & Development Video as a Service Market by Country 2020, thereby, achieving a market value of $188.4 million by 2027. The Japan market is showcasing a CAGR of 9.2% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 10.5% during (2021 - 2027).
Based on Deployment, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Application, the market is segmented into Corporate Communications, Training & Development, Marketing & Client Engagement and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & Consumer Goods, Government & Defense, Education, Media & Entertainment and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Video as a Service Market is Projected to reach USD 7.1 billion by 2027, at a CAGR of 8.4%
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.
By Deployment
By Application
By Industry Vertical
By Country
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