Enterprise Video Market Outlook 2031
The global enterprise video market size was valued at USD 18.57 Billion in 2022 and is expected to reach USD 49.07 Billion by 2031, expanding at a CAGR of 11.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising need among organizations to minimize the expenditure occurred in connecting the staff worldwide.
Enterprise video is a vital element of a firm’s content marketing strategy. Improvements in the content delivery network have aided quick delivery of multimedia content and offered organizations with high-quality video streams. In businesses, employees take out time for learning something new along with completing daily tasks, thus increasing the demand for on-demand videos for learning.
On-demand videos help employees to browse the information recorded by executives and trainers, who can log in globally. Moreover, several organizations use enterprise video platforms for activities such as sales, broadcasting public events, training of customers, and marketing.
Additionally, rising demand for video content on technology platforms and features such as customer relationship management, enterprise learning management systems, content management system, and marketing automation system are estimated to expand the market.
Enterprise Video Market Trends, Drivers, Restraints, and Opportunities
- Increasing advancements in technology such as use of Artificial Intelligence (AI) and blockchain technology in videos to enhance content quality is driving the market.
- Rising demand for face-recognition technology in video calls to detect faces rapidly and display them on the receivers screen has improved the quality of these systems. This in turn, boosts the market demand.
- Progress of 4G and 5G technology that uses Voice over Internet Protocol (VoIP) is offering profitable opportunities for companies in developed countries, such as the UK, Germany, and the US, which has fueled the market in the region.
- Rising trend of work from home has increased the demand for various features like content management and video conferencing.
- Security issues such as privacy and data leakages associated with enterprise videos are hindering the market growth.
Scope of Enterprise Video Market Report
The report on the global enterprise video market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Enterprise Video Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployments (Cloud Based and On-premise), Solutions (Video Conferencing, Webcasting, and Video Content Management), Services (Integration and Deployment, Professional Service, and Managed Service), Applications (Corporate Communication, Marketing & Client Engagement, and Training & Development), End-users (IT & telecom, BFSI, Healthcare, Education, Media & Entertainment), and Regions
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Avaya Inc., Adobe, Inc., Cisco Systems, Inc., Brightcove Inc., IBM, Microsoft Corporation, Kaltura, VBrick Systems, Polycom, Inc., and Vidyo.
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Enterprise Video Market Segment Insights
Deployment Segment Analysis
Based on deployment, the global enterprise video market is bifurcated into cloud-based and on-premise. The cloud segment allows users, pay-as-you-go tools for video creation, management, and distribution. Rising demand for cloud solutions through small and medium enterprises (SMEs) in developing countries such as India, Egypt, and Brazil has boosted the segment.
Cloud-based platforms provide convenience to end-users by allowing easy access to enterprise video through laptops and mobiles. The on-premise enterprise video platforms are perfect for large organizations, where security is vital, mainly in sectors such as healthcare, pharmaceuticals, and BFSI.
Solution Segment Analysis
On the basis of solutions, the global enterprise video market is segregated as video conferencing, webcasting, and video content management. The video conferencing segment is expected to grow at a rapid pace during the forecast period.
The segment growth can be attributed to rising demand for video communication, owing to globalization of business, remote workforce management, and geographically scattered business operations. Increasing usage of cloud-based solutions and integration of virtual reality in video conferencing have fueled the market.
The video management segment is estimated to expand at a robust CAGR during the forecast period, owing to features such as efficient management of videos and other multimedia content. Acceptance of cloud-based platforms in several industries is anticipated to boost the segment. Various organizations, which provide video content management software, are merging with each other for development of content management solutions.
Service Segment Analysis
In terms of services, the global enterprise video market is fragmented as integration and deployment, professional service, and managed service. The professional service segment is estimated to expand at a robust CAGR during the forecast period. Endless need for skilled and talented experts, who can help manage enterprises and organizations to integrate and troubleshoot, is a major factor responsible for segment growth.
These services help improve management and increase efficiency by improved planning, integrated knowledge management, and collaborations. Major advantages of professional services include increased utilization of resources, minimized administrative expenses, and increased profitability.
The managed services segment is expected to expand at a substantial CAGR during the forecast period, attributed to factors such as cost-effective management of IT infrastructures by subscription-based pricing model and remote monitoring. Additionally, enterprise video solutions are gaining importance in BFSI sector, as banks are facing data security problems.
Applications Segment Analysis
Based on applications, the global enterprise video market is segregated as corporate communication, marketing & client engagement, and training & development. The corporate communication segment is expected to witness significant growth during the forecast period.
The growth of the segment is attributed to increasing use of these solutions in sales kick-off, executive briefings, and board meetings. Companies in the market, including Huawei Technologies Co. Ltd, and Microsoft Corporation are focusing on development of these systems, particularly for corporate companies.
The segment growth is driven by companies in Telecom and IT sectors such as SE, IBM, and SAP. The marketing and client engagement segment is estimated to expand at a significant rate during the forecast period, as several merchants plan to attract clients by offering personalized updates on products, offers, and discounts through video-based advertising.
Various gaming organizations are concentrating on marketing games through videos on social media platforms, which is projected to fuel the segment growth.
End-users Segment Analysis
On the basis of end-users, the global enterprise video market is classified as IT & telecom, BFSI, healthcare, education, and media & entertainment. The BFSI segment led the market and held more than 20% of the market share in 2019. Rising demand for video-based marketing in the marketing and sales department has improved branch communication and banking services, including credit cards, wealth management, and loans.
Moreover, these factors enable companies in the BFSI sector to improve branch communication through video, audio, and digital content. The healthcare segment is expected to expand at a substantial CAGR during the forecast period, owing to rising need for urgent medical assistance to patients in remote areas.
Increasing focus of healthcare organizations on medical training to its employees using enterprise videos is driving the segment growth. Various software companies are merging with enterprise video service providers to upgrade enterprise video software in the healthcare sector.
Regional Outlook
In terms of regions, the global enterprise video market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand at a robust CAGR during the forecast period. Market growth is attributed to presence of key market players such as Cisco Systems, Inc., Adobe, Inc., Microsoft Corporation, and IBM in the region.
Segments
The global enterprise video market has been segmented on the basis of
Deployments
Solutions
- Video conferencing
- Webcasting
- Video content management
Services
- Integration and deployment
- Professional service
- Managed service
Applications
- Corporate communication
- Marketing & client engagement
- Training & development
End-Users
- IT & telecom
- BFSI
- Healthcare
- Education
- Media & entertainment
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Avaya Inc.
- Adobe, Inc.
- Cisco Systems, Inc.
- Brightcove Inc.
- IBM,Microsoft Corporation
- Kaltura
- VBrick Systems
- Polycom, Inc.
- Vidyo.
Competitive Landscape
Key players in the global enterprise video market include Avaya Inc., Adobe, Inc., Cisco Systems, Inc., Brightcove Inc., IBM, Microsoft Corporation, Kaltura, VBrick Systems, Polycom, Inc., and Vidyo. Major strategies adopted by key market players are partnership, acquisition, and mergers.
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