The Europe Video as a Service Market would witness market growth of 7.6% CAGR during the forecast period (2021-2027).
The demand for VaaS solutions has increased across the globe because they help in improving engagement, increasing productivity, and connecting teams working at remote locations. Additionally, high demand for real-time and remote access video solutions & services and growth of the high-speed communication infrastructure among the companies are among the key factors surging the growth of the VaaS market over the forecast period. Although, the high cost of acquisition and implementation of VaaS solutions and data security & privacy challenges would hinder the growth of the video as a service market.
With the rising acceptance of video communication among the companies, video as a service market would continue to provide high-quality solutions while managing legacy connectivity. In addition, companies working in the market are swiftly shifting toward a digital mode of business operations, which is compelling the market players to integrate technologies like deep learning, AI, and machine learning in their product offering, thereby boosting the demand & growth of these solutions in the market.
The increasing investment of the companies in the adoption of various cloud-based technologies and solutions is estimated to augment the growth of the regional VaaS market. Further, the increasing usage of video surveillance among the educational institutions, high adoption of thermal cameras, and expanding wireless IP surveillance are among the key aspects contributing to the growth of the regional market over the forecast period.
Moreover, the introduction of various new technologies and solutions by the regional market players is projected to fuel regional market growth. Manually tracking and detecting malicious activities is not feasible for surveillance professionals, however, increasing cases of safety & security breaches made it compulsory for companies to keep a track of video data generated from various video sources, which is estimated to fuel regional VaaS market growth over the forecast period.
The Germany market dominated the Europe Video as a Service Private Cloud Market by Country 2020, thereby, achieving a market value of $155.7 million by 2027. The UK market is exhibiting a CAGR of 7.5% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 9.1% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Video as a Service Market Size will Hit $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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