The video as a service market is expected to grow from US$ 4.02 billion in 2022 and is expected to reach US$ 15.47 billion by 2030; it is estimated to record a CAGR of 18.3% from 2022 to 2030.
The healthcare sector increasingly uses video conferencing services to manage their day-to-day operations. Doctors and patients use cloud-based video software for various purposes, including online consultations, telemedicine for remote healthcare consultations, and research activities in life sciences. Expansion of the healthcare industry increases the adoption of solution among consumers and driving the global video as a service market. According to Veritis Group Inc. data, in December 2022, 85% of the healthcare sector started using the cloud for their core operations. The cloud software and solution provide significant benefits to the user, including advancing healthcare to fit novel digital health settings, scheduling video meetings between doctors and patients, online consultation, and other patient-centric services. The video as a service helps doctors and patients save costs by reducing traveling time, preventing delays in medical advice, and avoiding waiting in a queue. The service also supports healthcare professionals to monitor patients remotely, which is crucial for patients during accidents in remote areas and those who live away from healthcare facilities.
Video as a service allows healthcare professionals to access hospital systems to analyze laboratory results and medical records during a video conference. Rising adoption of video as a service in the growing healthcare industry for real-time visual communication fuels the video as a service market.
Global video as service market size is segmented by deployment mode into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is projected to grow during the forecast period. Hybrid cloud enables organizations to keep sensitive data on-premises while utilizing the scalability and resources of the public cloud for specific workloads. This allows the organization to handle varying workloads efficiently. Therefore, by integrating the features of hybrid cloud and Video as a Service, organizations can create a robust and scalable video infrastructure that meets their specific needs, providing a balance between flexibility, security, and cost-effectiveness.
The rising adoption of advanced technologies such as cloud computing, AI, and data analytics drives the adoption rate of video as a service in APAC. Several technology startups in APAC are focusing on implementing AI in business to improve operational efficiency. These companies are primarily impacted by AI technology in the areas of product development/design, research and development, sales and marketing, and customer engagement. The integration of AI in video as a service helps in managing team meetings, client and customer collaborations, and work in business operations. In addition, APAC is experiencing strong growth in the number of IT & telecom, healthcare, and BFSI projects, catalyzing the video as a service market growth in the region.
Cisco Systems Inc, Zoom Video Communications Inc, Microsoft Corp, Amazon Web Services Inc, Avaya Holdings Corp, Google LLC, Adobe Inc, RingCentral Inc, Dekom AG, and BlueJeans are among the key video as a service market players profiled in this market study. Several other essential video as a service market players were analyzed for a holistic view of the market and its ecosystem.
The overall video as a service market size has been derived using both primary and secondary sources. To begin the video as a service market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the video as a service market. The process also serves the purpose of obtaining an overview and market forecast of the video as a service market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the video as a service market.
Reasons to Buy
The healthcare sector increasingly uses video conferencing services to manage their day-to-day operations. Doctors and patients use cloud-based video software for various purposes, including online consultations, telemedicine for remote healthcare consultations, and research activities in life sciences. Expansion of the healthcare industry increases the adoption of solution among consumers and driving the global video as a service market. According to Veritis Group Inc. data, in December 2022, 85% of the healthcare sector started using the cloud for their core operations. The cloud software and solution provide significant benefits to the user, including advancing healthcare to fit novel digital health settings, scheduling video meetings between doctors and patients, online consultation, and other patient-centric services. The video as a service helps doctors and patients save costs by reducing traveling time, preventing delays in medical advice, and avoiding waiting in a queue. The service also supports healthcare professionals to monitor patients remotely, which is crucial for patients during accidents in remote areas and those who live away from healthcare facilities.
Video as a service allows healthcare professionals to access hospital systems to analyze laboratory results and medical records during a video conference. Rising adoption of video as a service in the growing healthcare industry for real-time visual communication fuels the video as a service market.
Global video as service market size is segmented by deployment mode into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is projected to grow during the forecast period. Hybrid cloud enables organizations to keep sensitive data on-premises while utilizing the scalability and resources of the public cloud for specific workloads. This allows the organization to handle varying workloads efficiently. Therefore, by integrating the features of hybrid cloud and Video as a Service, organizations can create a robust and scalable video infrastructure that meets their specific needs, providing a balance between flexibility, security, and cost-effectiveness.
The rising adoption of advanced technologies such as cloud computing, AI, and data analytics drives the adoption rate of video as a service in APAC. Several technology startups in APAC are focusing on implementing AI in business to improve operational efficiency. These companies are primarily impacted by AI technology in the areas of product development/design, research and development, sales and marketing, and customer engagement. The integration of AI in video as a service helps in managing team meetings, client and customer collaborations, and work in business operations. In addition, APAC is experiencing strong growth in the number of IT & telecom, healthcare, and BFSI projects, catalyzing the video as a service market growth in the region.
Cisco Systems Inc, Zoom Video Communications Inc, Microsoft Corp, Amazon Web Services Inc, Avaya Holdings Corp, Google LLC, Adobe Inc, RingCentral Inc, Dekom AG, and BlueJeans are among the key video as a service market players profiled in this market study. Several other essential video as a service market players were analyzed for a holistic view of the market and its ecosystem.
The overall video as a service market size has been derived using both primary and secondary sources. To begin the video as a service market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the video as a service market. The process also serves the purpose of obtaining an overview and market forecast of the video as a service market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the video as a service market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global video as a service market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the global video as a service market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Video as a Service Market Landscape
5. Video as a Service Market - Key Industry Dynamics
6. Video as a Service Market - Global Market Analysis
7. Video as a Service Market Analysis - Deployment Mode
8. Video as a Service Market Analysis - Industry Vertical
9. Video as a Service Market - Geographical Analysis
10. Video as a Service Market - Impact of COVID-19 Pandemic
11. Competitive Landscape
14. Appendix
List of Tables
List of Figures
Companies Mentioned
- Cisco Systems, Inc.
- Zoom Video Communications, Inc.
- Microsoft Corp
- Amazon Web Services Inc.
- BlueJeans by Verizon
- Avaya Holdings Corp
- Google LLC.
- RingCentral Inc.
- Adobe Inc.
- DEKOM AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 154 |
| Published | November 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 4.02 Billion |
| Forecasted Market Value by 2030 | 15.47 Billion |
| Compound Annual Growth Rate | 18.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
