The Latin America, Middle East and Africa Video as a Service Market would witness market growth of 11.9% CAGR during the forecast period (2021-2027).
There is an increasing demand for well-developed and high-quality video service among the customers and companies as advanced video equipment is becoming more affordable. In addition, the high demand for real-time video service for incident management would further enable authorities to better respond to disastrous and emergency situations like thefts, fire incidents, security breaches, natural calamities, road accidents, and among others.
Furthermore, rising demand for remote access video service would augment the growth of the market because it helps companies to effectively generate high-quality & high-volume of live and on-demand video content with quick turnarounds. The media & entertainment sector has shifted to remote workflows due to the pandemic and thus, enterprises are majorly demanding for real-time video service to conduct their production process easily while working remotely. Such aspects are supporting the growth of the video-as-a-service (VaaS) market over the forecast period.
The rising internet penetration and an increasing number of smartphone users are estimated to bolster the growth of the regional VaaS market. In addition, VaaS solutions are enabling companies to build strong communication among their teams that are locating at different locations. This would contribute to the growing demand for VaaS solutions in this region. The increasing popularity of bring your own device (BYOD) trend among SMEs is anticipated to open new growth prospects for the key market players.
Moreover, several features of VaaS solutions like reduced cost of ownership are motivating more companies to adopt these solutions, thereby boosting the growth of the regional VaaS market. The untapped potential of this regional market is motivating more companies to enter this regional market and expand their business to gain a more competitive edge. This would contribute to the accelerating growth of the regional VaaS market.
The Corporate Communications market dominated the South Africa Video as a Service Market by Application 2020, thereby, achieving a market value of $29.8 million by 2027. The Training & Development market is estimated to grow at a CAGR of 12.4% during (2021 - 2027). The Marketing & Client Engagement market is expected to witness a CAGR of 13.4% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Video as a Service Market is Predict to reach $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
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