The global enterprise streaming media market was valued at USD 21.80 Trillion in 2022 and is projected to reach USD 92.36 Trillion by 2031, expanding at a CAGR of 17.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to the geographical expansion of businesses, increasing demand for video streaming, and rising internet penetration.
Market Trends, Drivers, Restraints, and Opportunities
Most companies use enterprise streaming solutions to improve collaboration and interaction between geographically dispersed teams.
Many enterprises are looking for enterprise streaming media solutions that integrates with their existing systems to increase operational efficiencies.
Increasing adoption of enterprise streaming media among enterprises as well as governments across the globe, owing to its cost-effective delivery mechanism and seamless customization according to the business needs, is expected to drive the market.
Geographical expansion of businesses and increasing demand for video streaming are expected to drive the market during the forecast period.
Organizations are adopting enterprise streaming media solutions to provide an easy and interactive experience for their workforce, with high-quality content delivery.
Increasing preference towards integrating videos and animations into enterprise content delivery mediums, as well as unified communications and collaborations (UC&C) portfolios, is expected to fuel the market.
The advancement of high-speed network technology resulted in the creation of innovative video platforms for unified communication system implementation.
Immersive telepresence and video conferencing are two technologies that have recently gained traction and are used by several organizations.
Companies are focused on reducing communication costs in the current competitive business climate, which creates significant growth opportunities for market participants.
These solutions enable companies to deliver highly interactive and customized audio and video content in a compressed form over the internet.
Deployment of 4G and 5G wireless data networks and high-speed internet networking leads to the growth and implementation of innovative business streaming technologies and services.
Companies are using social media channels like YouTube and Ustream to increase their market visibility and launch & promote their goods and services.
Scope of Enterprise Streaming Media Market Report
The report on the global enterprise streaming media market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Enterprise Streaming Media Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Solutions (Webcasting, Web Conferencing, Conferencing, and Content Management), Services (Managed Service, Support & Maintenance Service, and Professional Service), Deployments (Cloud and On-Premise), Applications (Corporate Communications, Marketing, Team Collaboration & Knowledge Transfer, Training & Development, and Others), End-uses (BFSI, Retail, Healthcare, Media & Entertainment, Manufacturing, IT & Telecom, Government, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SME)), and Regions.
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Spirent Communications PLC, Apple Inc., Polycom, Inc., Avaya Inc., SAP AG, Adobe Systems Inc., Microsoft Corporation, AVI-SPL Inc., Cisco Systems, and Haivision Systems Inc.
Enterprise Streaming Media Market Segment Insights
The web conferencing segment held a major market share of the total revenue in 2017
Based on solutions, the global enterprise streaming media market is segregated as webcasting, web conferencing, conferencing, and content management. The web conferencing segment is expected to expand at a rapid pace during the forecast period. Growth of the segment is attributed to increasing demand for immersive conferences and online training seminars around the world.
The video conferencing segment is projected to expand at a high CAGR during the forecast period. The growth of the segment is attributed to large-scale deployment of high-end audio/video devices by organizations to improve communication efficiency and provide participants with an immersive experience.
Businesses are introducing innovative enterprise streaming media solutions to improve connectivity and collaboration practices. Increasing demand for HD video communication and rising adoption of cloud-based video conferencing propels the market.
The managed service segment is expected to expand at a rapid pace during the forecast period
On the basis of services, the global enterprise streaming media market is classified as managed service, support & maintenance service, and professional service. The professional service segment held a major market share of the total revenue in 2017. The growth of the managed service segment is attributed to increasing preference for cloud-based deployment of business solutions.
Growing popularity of streaming media solutions is expected to increase the demand for services. Streaming media is used to exchange information that was previously exchanged through presentations, text documents, and e-mails.
Majority of businesses are focused on implementing industry strategies to enhance internal communication and collaboration across divisions. Furthermore, advanced content delivery network (CDN) technology is needed for uninterrupted content transmission and high-quality broadcast. Demand for professional services such as technical consulting, digital technology research, and project management is expected to rise during the forecast period.
The cloud segment is estimated to expand at a high CAGR during the forecast period
In terms of deployment, the global enterprise streaming media market is bifurcated into cloud and on-premise. The growth of the cloud segment is attributed to increased operational flexibility and low capital expenditure.
Users use a variety of devices, including tablets, smartphones, desktop computers, and advanced media distribution infrastructure to access cloud-based enterprise streaming media solutions. Cloud-based content delivery networks (CDNs) are used to store and serve on-demand content.
CDNs are combined with host application acceleration technology and web performance optimization to increase the speed of content delivery. Several businesses set up CDNs in different locations to provide high-quality and timely media streaming services. This trend led to a growing adoption of cloud-based enterprise streaming media solutions to communicate and provide instructions.
The corporate communication segment is projected to expand at a rapid pace during the forecast period
On the basis of applications, the global enterprise streaming media market is fragmented as corporate communications, marketing, team collaboration & knowledge transfer, training & development, and others. The growth of the corporate communication segment is attributed to global organizational expansion and increasing labor mobility.
Some organizations implemented strategies to offer personalized and marketing-focused content on their websites to registered visitors. This ability differentiates web-based advertising from traditional TV advertising by allowing businesses to adopt a highly focused marketing approach.
Companies with on-demand multimedia marketing materials have access to information about consumers who have viewed the content. This capability is considered to play an important role in broadcasting marketing content via streaming media.
The BFSI segment is anticipated to expand at a robust CAGR during the forecast period
Based on end-uses, the global enterprise streaming media market is segregated as BFSI, retail, healthcare, media & entertainment, manufacturing, IT & telecom, government, and others. Banks and other financial institutions are upgrading their traditional branches by installing digital communication solutions that can provide customer support without the involvement of onsite employees.
Integration of enterprise streaming solutions allows BFSI organizations to improve operational management and enhance accountability. Additionally, it improves communication among branches and delivers video advertising of banking products and services. These factors are estimated to drive the market. Webcasting is used by educational institutions and government departments to offer e-learning courses to multiple listeners worldwide.
The large enterprise segment held a major market share of the total revenue in 2017
On the basis of enterprise size, the global enterprise streaming media market is bifurcated into large enterprises and small & medium enterprises (SME). The SME segment is projected to expand at a high CAGR during the forecast period, owing to implementation of low-cost & cloud-based streaming media solutions.
Unlike large enterprises, most SMEs are unable to initiate and maintain traditional, expensive advertising and marketing campaigns. Availability of low-cost, cloud-based media platforms allows them to implement a low-cost, segment-specific marketing strategy. These factors are expected to drive the demand for web conferencing, video conferencing, and web casting, primarily in in the areas of advertisement, marketing, promotion, and corporate communication during the forecast period.
The market in North America held a major market share of the total revenue in 2017
In terms of regions, the global enterprise streaming media market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Growth of the market in North America is attributed to enhanced internet and communication networks, large number of internet users, and presence of tech-savvy population in the region. Majority of organizations in the area are early adopters of advanced technology and are eager to create and implement cutting-edge solutions to boost their operational performance.
Large number of IT companies in Asia Pacific developed off-shore service distribution centers. Growth of the market in the region is attributed to improvement of urban & digital infrastructure, availability of skilled workers, and reduction in operational costs.
Many multinational companies (MNCs) opened research and development centers, sales offices, and manufacturing units in emerging economies such as India and China to fulfill the rising demand for consumer electronics and automobiles, Business operations increased the demand for team collaboration and connectivity tools to strengthen relationships with internal stakeholders and clients.
The global enterprise streaming media market has been segmented on the basis of
- Web Conferencing
- Content Management
- Managed Service
- Support & Maintenance Service
- Professional Service
- Corporate Communications
- Team Collaboration & Knowledge Transfer
- Training & Development
- Media & Entertainment
- IT & Telecom
- Large Enterprises
- Small & Medium Enterprises (SME)
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players in the global enterprise streaming media market include Spirent Communications PLC, Apple Inc., Polycom, Inc., Avaya Inc., SAP AG, Adobe Systems Inc., Microsoft Corporation, AVI-SPL Inc., Cisco Systems, and Haivision Systems Inc. Companies are focused on designing solutions for high-bandwidth video distribution and high-content to support advertising and e-learning.
The Windows Operating System (OS) Enterprise version was launched by Microsoft Corporation to include solutions such as Azure Media Services, a High-Definition (HD) video streaming, and encoding service. Microsoft introduced Microsoft Stream, an intelligent video service, which is included in the Office 365 suite.