Corporate Video Market Size – $ 14.75 Billion in 2019, Market Growth – 6.8% CAGR, Market Trends – Increased Adoption of Video as a Communication Tool
NEW YORK, NY, UNITED STATES, November 4, 2021 /EINPresswire.com/ – Increased demand for minimized operational expenses, increased internet penetration, high demand for video streaming and increased adoption rate of video as a communication tool are driving the market.
The Global Corporate video market is expected to reach $ 24.63 billion by 2027, according to a new report from Reports and Data. The corporate video market is expected to witness significant growth during the forecast period. Some of the major factors contributing to the growth of the market are the increased demand for video streaming, the continued expansion of the number of internet users, and the advancement of cloud technology. Besides these factors, one of the major factors contributing to the development of the corporate video market is the globalization of various industries. The increased focus on globalization among different companies has resulted in an increasing demand to improve their internal and external communication process and to stay well connected with their employees located in different locations. The growing need to improve the business communication process has resulted in the increasing demand and incorporation of corporate video into the business communication system which is propelling the growth of the market.
Apart from the factors specified above, various initiatives by major market players are also driving the growth of the corporate video market. For example, in 2016 IBM, a key player in the market, introduced a software solution for businesses – Ustream eCDN that helps deliver enhanced video streaming services. Such advancements made by the major market players are playing a central role in the expansion of the corporate video market.
Regarding the region, Europe has the second largest market share in the corporate video market. Europe’s significant presence in the corporate video market is attributed to advancements in networking technologies and increased use of cloud-based applications in this region.
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The main participants are Kaltura, IBM, Microsoft, Cisco, Adobe, Brightcove, Avaya, Panopto, Mediaplatform, Inc. and VBrick Systems.
Other key findings from the report suggest
• The corporate video market held a market share of 14.75 billion USD in 2019, growing at 6.8% during the forecast period.
• Factors such as the expansion of the media and entertainment industry and the education sector are positively impacting the growth of the market.
• In the context of Type, the video conferencing segment dominates the market which generated the highest revenue of 5.32 billion USD in 2018 with a growth rate of 7.1% during the period of forecast. The factors contributing to the revenue generated from this segment are the globalization of business and the associated increase in demand for streamlining the communication process between employees located in different geographic locations.
• Regarding the type of deployment, the on-premise segment leads the market, occupying a larger market share of 75.0% with a growth rate of 6.4% during the forecast period. The market share held by the segment is attributed to the strong preference of different companies to integrate corporate video solutions into their communication system and organize team meetings and trainings which will be held on site with its help.
• While discussing the type of deployment, it is noted here that the Cloud segment is expected to experience a higher growth rate of 7.8% during the forecast period which is expected to occupy 27.0% of the market by 2026. The growth rate of this segment is attributed to the increasing emphasis on globalization among different companies and the associated increase in the demand for communication with employees located in different geographic locations.
• When it comes to applications, the business communications segment can be regarded as the market leader which holds the largest market share of 31.0% in 2018, with a CAGR of 7.2% over the past year. the forecast period. The market dominance of the corporate communications segment is a consequence of the increased need for companies to improve their communication system as well as the efficiency of corporate communication to strengthen internal and external communication of companies and establish effective communication with employees, stakeholders and partners.
• As for the region, Asia-Pacific is expected to experience the highest growth rate of 8.1% during the forecast period. The Asia-Pacific market growth rate is a result of increasing number of IT companies, increased IT penetration, and increased government spending on Internet infrastructure.
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/enterprise-video-market
For the purpose of this report, reports and data have segmented the global corporate video market on the basis of type, type of deployment, offerings, organization size, end-users, application and region:
Type Outlook (Revenue, Billions USD; 2020-2027)
Video content management
Outlook Deployment Type (Revenue, USD Billion; 2020-2027)
On the site
Outlook Type Offers (Revenue, Billions USD; 2020-2027)
Organization Size Type Outlook (Revenue, USD Billion; 2020-2027)
Small and medium enterprises
End Users Type Outlook (Revenue, Billions USD; 2020-2027)
Banks, financial services and insurance [BFSI]
Health and Life Sciences
Information technology (IT) and telecommunications
Media and entertainment
Outlook Application Type (Revenue, USD Billion; 2020-2027)
Customer engagement and marketing
Training and development
Collaboration and knowledge sharing
Regional outlook (revenue, billion USD; 2020-2027)
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The market report includes the main points from the table of contents:
• Overview of the corporate video market
• Global economic impact on industry
• Competition in the world market by manufacturers
• World production, income (value) by region
• Global supply (production), consumption, export, import by regions
• World production, revenue (value), price trend by type
• Global Market Analysis by Application
• Analysis of manufacturing costs
• Industrial chain, sourcing strategy and downstream buyers
• Analysis of the marketing strategy, distributors / traders
• Analysis of market effect factors
• Corporate video market forecast
To conclude, all aspects of the Corporate Video Market are quantitatively and qualitatively assessed to study the Global and Regional Market in a comparative manner. This market research presents critical information and factual data about the market, providing an overall statistical study of this market on the basis of market drivers, its limitations and future prospects.
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