Enterprise Video Market

Global Enterprise Video Market Size & Growth Analysis (2023-2028)

The global enterprise video market is determined to develop from $ 14.5 billion in 2022 to $ 21.8 billion by 2028, at an annual growth rate (CAGR) of over 8% during the calculated period of 2023 to 2028.

The enterprise video platform is a communications and entertainment hub for stakeholders, suppliers, employees, partners and the external public. Corporate or enterprise video contributes to effective communication for organizations. The commercial video is aimed at a limited number of people, unlike social media platforms like YouTube. Corporate video has a wide range of applications in corporate communications and for training and development purposes.

These video solutions act as a bridge between internal and external stakeholders, improves overall customer engagement, and ensures professional growth. Corporate video has also become a very critical component of a company's content marketing strategy, both for internal and external operations.

The online volumes through streaming have skyrocketed in the recent years and the number of active users has incline in the last five years. Enterprise video conferencing continues to be the most popular and impactful segment of this market, as it enables companies to consistently, efficiently and quickly transmit, activate messages, train employees and assistants, and facilitate collaboration.

Recent Developments:

• June 2019: LogMeIn Inc. confirmed its partnership with Dolby Laboratories to improve their existing version of GoTo Room video conferencing software that can offer virtual conference rooms with both Dolby hardware and LogMeIn GoToMeeting software.
• March 2019: InPlayer shook hands with Kaltura Video Technology as a prominent partner to offer a deeper integration with the Kaltura platform.
• February 2019: Kaltura introduced a new video technology that enables customers to expand their video experiences by leveraging partner products and technologies that are integrated into the Kaltura platform.

Market Growth and Trends:

Video solutions like conferencing have made healthcare support easy, and these solutions are available both on-site and in the cloud, and therefore cost-effective, making them reasonable for healthcare organizations and for patients.

The main factor driving market growth is the general upward trend and increasing spending on IT healthcare towards telemedicine services. This is supported by the greater efforts of national governments to improve their health infrastructure. Forbes estimated that approximately 65% of interactions with health centers occurred through telemedicine services in 2018. However, factors such as slow Internet connections and financial difficulties are hindering market growth. Also, the complexities involved in the operation of this video conferencing equipment, low knowledge of the technology, and public acceptance are other factors acting as market challenges.

Impact of Covid-19 on the Global Enterprise Video Market:

COVID-19 is an unprecedented public health emergency that affects all industries. While some have stronger defenses, others will find it difficult to return to a constantly redefined and redesigned normalcy. Consumer demand patterns will change. Global supply chains will be redirected. Governments will make even bigger interventions. And companies will have to constantly adapt to new uncertain market conditions.

Market Drivers and Restraints:

The global enterprise video market is experiencing strong demand for more efficient solutions due to the growing popularity of video on demand services for internal communications. Leading companies like Microsoft and IBM are focused on providing superior and efficient professional video solutions to their customers. Growing organizations and increased demand for on-demand solutions are expected to stimulate this market. However, the high cost of implementation and the need for technical assistance are the main factors that can hinder the growth of this market.

The main driver behind the adoption of enterprise video content management solutions is the inclusion of data encryption and data privacy. The enterprise videos also meet the security standards for recording management, enabling businesses to implement them without any concern. In addition, this enterprise video content management solution allows users to access their important data remotely from their mobile and tablet applications.

ENTERPRISE VIDEO MARKET REPORT COVERAGE:

Enterprise Video Market segmentation:

Enterprise Video Market By Delivery Method:

Depending on the delivery method, the global corporate video market can be broadly segmented in video streaming, Internet streaming, web conferencing and videoconferencing.

Enterprise Video Market By End User:

Based on end-users, the global corporate video market can be segmented into banking, financial and insurance (BFSI), university and government, healthcare, consumer and retail, media and entertainment, manufacturing, telecommunications and IT, and transportation and logistics.

Enterprise Video Market By Application:

Based on the application, the global corporate video market can be divided into corporate communication, knowledge sharing and management, learning and development, etc.

Enterprise Video Market By Component:

 the global market is divided into hardware and software. Based on hardware, the market can be segmented into video streaming devices, video distribution, video recording and storage devices, and video management and control. By software, the market can be segmented into video collaboration software, video security software, video resource management, video encoding and decoding software, video content management and video analysis software.

Regional Analysis:
North America and Europe were two of the main markets in the global enterprise video business in the review period. Market dominance in these regions is attributed to the widespread adoption of video communication among the leading companies in this region. Asia-Pacific is expected to experience significant market penetration over the next five years, due to the growth of the communications services industry in developing countries such as India and China. As for the country, the United States and Canada are two of the largest corporate video markets in North America. Germany, the United Kingdom, France and Spain are the main regional markets in Europe. India, China, Japan and Australia are the drivers of the corporate video market in the Asia-Pacific market.

Key market players:

The global enterprise video market is consolidated with 50% of the market share occupied by the six companies. Cisco Systems, Inc. and Polycom were the largest players in the enterprise video market.

Some of the competitors in the worldwide market are Verizon Communications Inc., Polycom, Microsoft Corporation., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., Hewlett-Packard (HP), Computer Sciences Corporation (CSC), Cisco Systems, Inc., Avaya Inc. and Alcatel-Lucent SA.