Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Video as a Service is the cloud service that is gaining momentum in the modern world. With a lot of online web service providers shifting their products to video based services, for enhancing their business. Video as service (VaaS) is the delivery of multiparty or point-to-point video conferencing capabilities over an IP network by managed service.The online video conferencing service must provide the infrastructure needed for linked communication. The host also maintains the communication channel between all endpoints or parties involved. The transition from traditional web conferencing to advance cloud based conferencing services demand for video services increased. Many organization turn to VaaS to enable employee collaboration and customer-facing service without having to worry about the conference participants underlying network and technologies. VaaS is an effective tool to enable employees to work from anywhere as it provide workplace flexibility also it provide effective collaboration as video conferencing is an excellent way to bring team members together to share idea and work together on project and for international teams, physical distance can translate to less cooperation and trust. But online video conferencing provides a collaborative experience that otherwise would be impossible. Enterprises use a shared infrastructure provided by the VaaS company, so they do not have to invest huge amounts of money to set up their own infrastructure.
The demand for real-time and remote video servies and rapid growth in the number of internet user around the world are driving factor for video as a service market. As cloud service infrastructure are complicated to install and need huge amount of money. Many organization are hiring infrastructure teams to build and manage their infrastructure on their own servers. VaaS allows organizations to reduce investments for building such infrastructure. VaaS enabling digital workforce is a driving factor of the market. As software creates a more collaborative meeting culture in the organization, it’s a foundation for enabling today’s digital workforce. Video meeting help teams maintain human connections, irrespective of physical location, which speedsup decision making and improves the ability to collaborate gobally. Increasing investment on video services is likely to accelerate the market growth in near future.
The outbreak of covid-19 impacted on various sectors. Various countries follow strict lockdowns, and mobility restrictions to avoid the spread of virus. The pandemic distrupted business efficiency and employee productivity acres the globe. Hence, the adoption of VaaS services increased in this pandemic. The VaaS market has been witnessing a positive impact as the use of video conferencing for collaboration and communication has increased by enterprises. Adoption of VaaS services for collaboration, client engagement and marketing will continue grow VaaS market. Healthcare and life science, government and public sector, media and entertainment, retail and consumer goods sectors are using video service to improve and manage their work.
The report analyses the video as a service market segmental based on, application, vertical, deployment mode and region.
The market finds application into corporate communication, training and development, marketing, client engagement. The marketing and client engagement application of the VaaS market is growing at faster rate. Video marketing is using videos to promote and market their product or service, increase engagement on digital and social channels, educate consumers and customer. With the help of video conferencing for marketing purposes, organizations can easily engage audiences, communicate with them more efficiently and expand their reach. One of the most practical application of video in a corporate environment is as a traning tool in employee learning and development. Whether for on-boarding new employees or preparing existing employees for new role, video is a perfect fit when fast-paced learning is required.
This service is used by various verticals such as banking financial service and insurance, healthcare and life science, media and entertainment, government and public sector, retail and consumer goods and other verticals. VaaS enables banking, financial service and insurance enterprises to transform branches into sales and service channels without employing additional on-field staff. The health and life sciences vertical deals with diverse clinical, administrative and financial content on daily basis. VaaS collaborations enable healthcare providers in telemedicine and patient care, medical education and healthcare administration applications to offer enhanced patient care by providing them with improved communication options. These VaaS system facilitate enhanced internal communication, knowledge sharing and investor relations.
By deployment mode, the market is segmented into public cloud, private cloud and hybrid cloud. The public cloud deployment mode focuses on deploying workloads and data on the public cloud as it provide ease to software developing companies with no management overheads and associated costs. Due to cost flexibility and scalability the adoption of public cloud is growing at faster rate. In public sector services are owned by third party provider and maintenance is bared by service provider. In private cloud higher security and this is dedicated to single organization. Only the organization itself can use the private cloud. Private cloud have better flexibility expensive than public cloud and maintenance need to bared by organization itself. Combine public cloud with private cloud to allow two platform interact seamlessly. Private cloud is used in banking and financial institutions, large enterprises and government organizations.
Geographically, the video as a service market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America is one of the fastest growing regions in VaaS services owing to more investment in technology in this region. Countries in North America have advanced communication infrastructure that help VaaS solution providers offer quality services to their clients. The major growth driver for this region include large-scale investments in the implementation of VaaS solution due to the growth of video conferencing applications and the need for better video quality. The demand for digitization is driven by various initiative carries out by different governments and large enterprises in this region.
Some of the major player operating in the market include, Microsoft (US), Zoom (US), Cisco (US), Adobe (US), Avaya (US), Google (US), AWS (US), Poly (US), LogMeIn (US), and RingCentral (US)., ), Zoho Corporation (India), PGi (US), Wickr (US), Pexip (Norway), Starleaf (UK), BlueJeans Network (US), Enghouse Systems (Canada), Qumu (US), Sonic Foundry (US), ON24 (US), Lifesize (US), Kaltura (US), Kollective (US), VIDIZMO (US), and VBrick (US).
The report analyses the video as a service market segmental based on, application, vertical, deployment mode and region. The market finds application into corporate communication, training and development, marketing, client engagement. This service is used by various verticals such as banking financial service and insurance, healthcare and life science, media and entertainment, government and public sector, retail and consumer goods and other verticals. By deployment mode, the market is segmented into public cloud, private cloud and hybrid cloud. The public cloud deployment mode focuses on deploying workloads and data on the public cloud as it provide ease to software developing companies with no management overheads and associated costs. Geographically, the video as a service market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa.
Some of the major player operating in the market include, Microsoft (US), Zoom (US), Cisco (US), Adobe (US), Avaya (US), Google (US), AWS (US), Poly (US), LogMeIn (US), and RingCentral (US)., ), Zoho Corporation (India), PGi (US), Wickr (US), Pexip (Norway), Starleaf (UK), BlueJeans Network (US), Enghouse Systems (Canada), Qumu (US), Sonic Foundry (US), ON24 (US), Lifesize (US), Kaltura (US), Kollective (US), VIDIZMO (US), and VBrick (US).
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