NEW YORK, July 19, 2024 /PRNewswire/ — The global video as a service market size is estimated to grow by USD 5.33 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.34% during the forecast period. Increased adoption of VaaS in virtual education is driving market growth, with a trend towards emergence of immersive technologies in VaaS. However, concerns associated with security and privacy of vaas platforms poses a challenge. Key market players include Acronis International GmbH, Advanced Control Corp., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Cloudastructure Inc., Commvault Systems Inc., Dell Technologies Inc., Honeywell International Inc., Insight Enterprises Inc., International Business Machines Corp., Microsoft Corp., NetApp Inc., Quantum Corp., RiversideFM Inc., Robert Bosch GmbH, Signature Video Group, Thinkmojo, Vidico, and YUM YUM DIGITAL.
Technavio has announced its latest market research report titled Global Video as a Service Market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
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Video As A Service Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.34% |
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Market growth 2024-2028 |
USD 5.33 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
15.94 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 41% |
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Key countries |
US, China, Japan, UK, and Germany |
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Key companies profiled |
Acronis International GmbH, Advanced Control Corp., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Cloudastructure Inc., Commvault Systems Inc., Dell Technologies Inc., Honeywell International Inc., Insight Enterprises Inc., International Business Machines Corp., Microsoft Corp., NetApp Inc., Quantum Corp., RiversideFM Inc., Robert Bosch GmbH, Signature Video Group, Thinkmojo, Vidico, and YUM YUM DIGITAL |
Market Driver
Immersive technologies, including AR and VR, are revolutionizing the Video as a Service (VaaS) market by enhancing collaboration and communication experiences. VR-based VaaS solutions enable participants to conduct meetings and collaborations in virtual spaces, where they can create avatars, navigate virtual environments, and interact with content in a more dynamic way than traditional video conferencing. Spatial audio and AR overlays further enrich these experiences, creating a more natural and realistic communication environment. VR is particularly valuable in industries requiring hands-on training and simulations, such as healthcare, manufacturing, and education. Immersive VaaS platforms also support virtual conferences and events, allowing users to network and engage in interactive activities. VR-based training sessions and simulations offer a more immersive learning experience. Cross-platform immersion is another key advantage, as users can access AR and VR interactions across various devices, including smartphones, tablets, VR headsets, and AR glasses. The integration of immersive technologies into VaaS is expected to significantly contribute to the growth of the global Video as a Service market.
Video-as-a-Service (VaaS) is a trending business solution that delivers on-demand videos and real-time video services. Executive messaging, video conferencing, and streaming & management are key components. Cloud deployment options include public, private, and hybrid models. AI and machine learning technologies enhance VaaS, providing features like facial recognition, live transcripts, and noise reduction. Security is crucial, with AI monitoring for false alarms from incidents like fire, accidents, or thefts. Cloud vendors offer high-quality live and on-demand video content. 5G technology and mobile broadband improve access. AI-based VaaS also includes deep learning for better video analysis. ML helps improve video quality and reduce false alarms. Cloud computing and recording with storage complete the package.
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Market Challenges
Video as a Service (VaaS) platforms have gained significant popularity in today’s digital world, enabling organizations and individuals to conduct virtual meetings and collaborate remotely. However, concerns regarding security and privacy are critical in the adoption and growth of the VaaS market. Unauthorized access to video meetings can lead to the exposure of sensitive information, making end-to-end encryption and secure transmission of video data essential. VaaS platforms handle personal and organizational data, leading to concerns about data collection, storage, and processing. Clear and transparent data retention policies are crucial to prevent unauthorized data retention. Robust user authentication mechanisms and access controls are vital to prevent unauthorized individuals from gaining access to video meetings. VaaS platforms offer the capability to record meetings for future reference, requiring secure access controls and encryption to prevent unauthorized disclosure of recorded content. Default settings and configurations should be secure to prevent unnecessary risks. Users play a crucial role in maintaining the security and privacy of VaaS platforms. Lack of user awareness and training can lead to security lapses. Screen-sharing features, while valuable for collaboration, can pose risks if not properly controlled, leading to unintentional sharing of sensitive information or unauthorized screen access. These concerns may impede the growth of the global VaaS market during the forecast period.
Video-as-a-Service (VaaS) is a growing market that offers businesses on-demand videos and executive messaging through public, private, or hybrid cloud solutions. Challenges include ensuring high-quality video service, especially for real-time video conferencing, and managing video streaming and storage. AI and machine learning technologies, including deep learning and facial recognition, enhance security by monitoring for incidents like fire, road accidents, thefts, and security breaches. However, false alarms can be a concern. Cloud vendors provide video conferencing services, and 5G technology and mobile broadband improve access. AI-based VaaS can transcribe live videos into text for easy access. Noise and low-quality videos are common issues to address.
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Segment Overview
This video as a service market report extensively covers market segmentation by
Deployment
1.1 Public cloud
1.2 Private cloud
1.3 Hybrid cloud
End-user
2.1 Large enterprises
2.2 SMEs
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Public cloud- Public cloud Video as a Service (VaaS) eliminates the need for organizations to invest heavily in on-premises infrastructure, hardware, and maintenance. This subscription-based model allows businesses to pay for the services they use, resulting in potential cost savings compared to traditional video conferencing solutions. Cloud-based video services offer scalability, enabling businesses to easily scale up or down based on the number of users and level of usage. This flexibility is particularly beneficial for organizations with distributed teams, remote workers, or international offices, fostering collaboration regardless of location. Cloud service providers handle infrastructure maintenance, updates, and upgrades, freeing up IT teams to focus on strategic initiatives. Implementation is faster than on-premises solutions, enabling rapid rollout of video collaboration tools. Integration with other cloud-based services and applications streamlines workflows. Regular updates from cloud service providers ensure access to the latest capabilities without manual intervention. Public cloud VaaS operates on a pay-as-you-go or subscription model, aligning expenses with actual usage and making it a cost-effective solution for businesses of all sizes. The benefits of cost efficiency, scalability, faster deployment, and feature enhancements will fuel the growth of public cloud VaaS and the global video as a service market.
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Learn and explore more about Technavio’s in-depth research reports
The global OTT market continues to surge with increasing demand for streaming services, driven by widespread internet access and mobile adoption. OTT platforms offer diverse content choices, from movies to live sports, revolutionizing entertainment consumption worldwide. Video-as-a-Service (VaaS) is transforming communication and collaboration across industries. Offering scalable video solutions, VaaS enhances remote work capabilities and customer engagement, fostering seamless interaction and operational efficiency. The global post-production market is evolving with advancements in digital editing technologies. From films to commercials, post-production services play a crucial role in enhancing visual appeal and storytelling, meeting the demands of diverse media landscapes.
Research Analysis
Video as a Service (VaaS) is a cloud-based solution that delivers high-quality, real-time video services to businesses and individuals. VaaS utilizes cloud computing, video conferencing, and mobile broadband to enable remote access to video content. The integration of 5G technology and AI/ML enhances the user experience by providing faster transmission speeds and advanced features like facial recognition and object detection. VaaS offers video streaming & management solutions for various industries, including emergency services, transportation, and security. AI and deep learning algorithms analyze video feeds in real-time to detect anomalies, such as fire incidents or road accidents, ensuring prompt response and mitigating potential risks. VaaS is revolutionizing the way we consume and manage video content, offering flexible, scalable, and cost-effective solutions for businesses and individuals alike.
Market Research Overview
Video as a Service (VaaS) is a cloud-based solution that enables businesses and individuals to access, manage, and deliver high-quality video content in real-time or on-demand. Powered by cloud computing, 5G technology, and mobile broadband, VaaS offers various features such as conferencing, recording, storage, facial recognition, live transcripts, and ML (Machine Learning) for improved video quality. VaaS caters to various industries, including executive messaging, public, private, and hybrid cloud solutions. It provides real-time video services for monitoring critical incidents like fire, accidents, and thefts, while also offering AI and deep learning-based services to minimize false alarms. VaaS is revolutionizing the way we communicate, collaborate, and consume video content.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Deployment
Public Cloud
Private Cloud
Hybrid Cloud
End-user
Large Enterprises
SMEs
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio