PUBLISHER: The Business Research Company | PRODUCT CODE: 1518308
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518308
Enterprise video refers to the utilization of video technology within businesses and organizations for various purposes including communication, training, marketing, and collaboration. Its primary objective is to enhance both internal and external communication channels, streamline processes, and boost engagement and productivity within the enterprise environment.
The main solutions encompassed in enterprise video include video conferencing, video content management, and webcasting. Video conferencing solutions facilitate real-time visual communication among individuals and groups, enabling remote meetings and collaborative sessions. These solutions can be deployed in both cloud-based and on-premises modes and often include services such as integration, deployment, managed services, and professional services. They find applications across a wide range of industries including information and technology (IT) and telecom, banking, financial services, and insurance (BFSI), healthcare and life sciences, media and entertainment, education, retail and consumer goods, among others, for purposes such as corporate communications, training and development, marketing, and client engagement.
The enterprise video market research report is one of a series of new reports from The Business Research Company that provides enterprise video market statistics, including enterprise video industry global market size, regional shares, competitors with a enterprise video market share, detailed enterprise video market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise video industry. This enterprise video market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The enterprise video market size has grown rapidly in recent years. It will grow from $19.72 billion in 2023 to $22.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to several factors including increased internet penetration, a shift towards remote work practices, the expansion of video streaming services, rising demand for on-demand video content, improvements in user experience, cost reductions in video production, corporate training and communication needs, as well as the expansion of e-learning platforms.
The enterprise video market size is expected to see rapid growth in the next few years. It will grow to $34.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to several factors including the expansion of 5G networks, increased adoption of hybrid work models, growing demand for high-quality video content, the rise of virtual and augmented reality technologies, enhanced cybersecurity measures, and the expansion of cloud-based video solutions. Major trends expected in this period include the increased utilization of AI and machine learning, rising demand for ultra-high-definition video, integration of virtual and augmented reality into video experiences, a focus on enhanced video security measures, the proliferation of cloud-based video platforms, and a greater emphasis on personalized content delivery.
The enterprise video market is poised for growth, driven by the increasing demand for remote work and collaboration. Remote work and collaboration involve individuals or teams working together from different locations using digital tools and technologies. This trend is fueled by technological advancements, evolving work preferences, and the necessity for flexibility, particularly highlighted by global events such as the COVID-19 pandemic. Enterprise video facilitates remote work and collaboration by enabling effective communication, virtual meetings, and shared access to knowledge resources among geographically distributed teams, thereby boosting productivity and cohesion. For example, a study published by AT&T in February 2022 projects a significant increase in the adoption of hybrid work models, with the percentage of companies embracing this approach expected to rise from 42% in 2021 to 81% in 2024. Hence, the growing demand for remote work and collaboration is propelling the enterprise video market.
Key players in the enterprise video market are concentrating on integrating technology and analytics, such as AI video analytics, to extract valuable insights from video data for various purposes including security, operations, marketing, and decision-making. AI video analytics enhances video content optimization, improves security measures, and provides actionable insights through sophisticated data analysis and machine learning algorithms. For instance, in May 2023, Claro Enterprise Solutions, a US-based telecommunications company, launched AI video analytics offering benefits such as heightened security, operational efficiency, customer experience enhancement, and cost savings through automated video analysis and insights generation. AI video analytics revolutionizes surveillance and security systems by employing artificial intelligence algorithms for real-time threat detection, behavior analysis, and improved decision-making capabilities.
In April 2023, Praxedo, a France-based software development company, acquired ViiBE Communication for an undisclosed sum. This acquisition is aimed at enhancing remote support capabilities, improving customer service, and streamlining field operations through integrated video assistance solutions. ViiBE Communication, based in France, specializes in providing enterprise-grade visual support solutions.
Major companies operating in the enterprise video market are Google LLC, Microsoft Corporation, Verizon Communications Inc., Huawei Technologies Co. Ltd., Amazon Web Services (AWS), Hewlett-Packard (HP), International Business Machines Corporation (IBM), Cisco Systems Inc., Adobe Systems Incorporated, Computer Sciences Corporation (CSC), Zoom Video Communications Inc., Citrix Systems Inc., Avaya Inc., Polycom Inc., Alcatel-Lucent SA, GoTo Technologies USA Inc., Brightcove Inc., Kaltura Inc., Lifesize Inc., BlueJeans Network Inc., JW Player, Vidyo Inc., Vbrick Systems Inc., Kollective Technology Inc., Panopto Inc., Qumu Corporation, Wistia Inc., BigMarker, Mediasite by Sonic Foundry
North America was the largest region in the enterprise video market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise video market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the enterprise video market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The enterprise video market consists of revenues earned by entities by providing services such as corporate training videos, video production services, e-learning video platforms, webinar hosting, and virtual event management. The market value includes the value of related goods sold by the service provider or included within the service offering. The enterprise video market also includes sales of live streaming platforms, video analytics tools, webinar solutions, video production equipment, video editing software, and video collaboration tools. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Enterprise Video Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on enterprise video market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for enterprise video ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The enterprise video market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.