Enterprise Video Market worth $31.4 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO  , Nov. 10, 2022 /PRNewswire/ -- The Global Enterprise Video Market size is projected to grow from USD 19.8 billion in 2022 to USD 31.4 billion by 2027, at a CAGR of 9.7% during the forecast period, according to a new report by MarketsandMarkets™. 

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By application, Marketing & Client Engagement segment to have the highest growth rate during the forecast period

Organizations worldwide are adopting enterprise video solutions to empower their client engagement, brand awareness, and marketing activities. With the help of Enterprise Video Marketing platforms, organizations can easily engage audiences, communicate more efficiently, and expand their reach. enterprise video solutions help enhance customer engagement by enabling rating, commenting, and sharing videos on social media. These solutions assist in measuring the impact of each video and optimizing content and distribution strategies with the help of built-in analytics. They also help enterprises launch video customer engagement programs. The effective use of enterprise video solutions has helped organizations transform marketing from a cost center to a revenue function.

By deployment, cloud segment to grow at the highest CAGR during the forecast period

Cloud or hosted enterprise video solutions are provided as SaaS by service providers. The advantage of cloud deployment of these solutions is the reduced physical infrastructure requirement, which results in low maintenance costs for organizations. Cloud-based enterprise video solutions are an excellent option for one-time events and occasional content services. With advancements in cloud-based technologies, the use of enterprise video solutions as SaaS is emerging as one of the best practices for companies looking to deploy cost-effective functionalities. Cloud-based enterprise video solutions also offer real-time data visibility to employees, enabling organizations to communicate with different departments before, during, and after each meeting.

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Asia Pacific to have the highest growth rate during the forecast period

The rapid increase in the adoption of enterprise video solutions in Asia Pacific has made it highly lucrative and one of the fastest-growing markets globally. The region is expected to become a highly potential market for enterprise video solutions and services due to the growing need for robust collaborations and enhanced decision-making within and across organizations.

Several technological service providers in this region are partnering with solution providers to enhance and provide customized offerings per local client's business requirements. For instance, In June 2018, Panopto launched Video Cloud on Singapore-based AWS data center to strengthen its presence in ASIA PACIFIC region.

Market Players

The major players in the Enterprise Video Market are IBM (US), Microsoft (US), Google (US), Avaya (US), AWS (US), Cisco (US), Poly (US), Adobe (US), Zoom Video Communications (US), LogMeIn (US), RingCentral (US), MediaPlatform (US), INXPO (US), Kollective Technology (US), Haivision (Canada), BlueJeans (US), Kaltura (US), Lifesize (US), On24 (US), Enghouse Systems (Canada), Brightcove (US), VIDIZMO (US), Panopto (US), Vbrick (US), Qumu (US), Dalet Digital Media Systems (US), and Sonic Foundry (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the Enterprise Video Market.

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