According to a new report Global Enterprise Video Market, published by KBV research, The Global Enterprise Video Market size is expected to reach $28.5 billion by 2026, rising at a market growth of 9.7% CAGR during the forecast period.
Video conferencing dominated the market of enterprise video and represented significant revenue share globally in 2019. This can be credited to the rapidly expanding demand for video communication because of globalization of organizations, geographically scattered business tasks and management of remote workforce. The segment video content management is foreseen to grow at the highest CAGR over the forecast period as these solutions empower companies to productively manage video and other multi-media content.
The segment of cloud is foreseen to expand at the significant CAGR of over 10% over the forecast period as cloud deployment gives customers the adaptability through pay-as-you-go instruments for video creation, distribution, and the management. The on-premises enterprise video implementation is an ideal fit for big organizations, where security and compliance are vital components, especially among sectors, for example, BFSI, healthcare, and pharmaceuticals, among others.
The segment of BFSI dominated the market and accounted significant revenue share globally in 2019. The increasing demand among the advertising and sales groups for video-based marketing and sales of improved branch communications and banking services, for example, loans, credit cards, and wealth management is strikingly adding to the development of this segment. The segment of healthcare and life sciences is foreseen to expand at the prominent CAGR over the forecast period by virtue of expanding requirement for immediate clinical help to patients situated in distant areas.
The market is dominated by North America in 2019. This can be ascribed to the presence of top market players, for example, Adobe, Inc.; Cisco Systems, Inc.; IBM; and Microsoft Corporation and they have set up a solid distribution network in the region. Asia Pacific is projected to extend at the significant CAGR over the forecast period as the media utilization has developed immensely, particularly because of the shift from customary media to digital media. Besides, there has been an increasing demand for connected devices that can support digital media and fast speed internet innovations, which can permit users to access videos from anyplace, which is fundamentally boosting the development of the regional market.
Structural Insights: https://www.kbvresearch.com/enterprise-video-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Adobe, Inc., Avaya Holdings Corporation, Brightcove, Inc., IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Amazon.com, Inc., Plantronics, Inc. (Polycom, Inc.), Kaltura, Inc., and VBrick Systems, Inc.
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