Enjoy complimentary customisation on priority with our Enterprise License!
The Video-as-a-Service (VaaS) Market size is forecast to increase by USD 5.33 billion at a CAGR of 16.34% between 2023 and 2028. The market is experiencing growth driven by increased adoption in virtual education, amplified by the COVID-19 pandemic. Educational institutions utilize VaaS for virtual classrooms, lectures, and interactive learning, leveraging immersive technologies like AR and VR. Participants engage with 3D models and spatial annotations, fostering dynamic collaboration. VR-based VaaS solutions enable meetings in virtual spaces, enhancing user experience. However, challenges such as a lack of strong communication tools persist. Market growth is influenced by factors like AI and ML integration, storage, and recording capabilities. VaaS's role in market forecasting and growth underscores its significance in modern education and business cloud service platforms.
For More Highlights About this VaaS Market Analysis Report, Download Free Sample in a Minute
The public cloud segment is estimated to witness significant growth during the forecast period. Public cloud segment of VaaS eliminates the need for organizations to invest heavily in on-premises infrastructure, hardware, and maintenance.In addition, it operates on a subscription-based model, allowing businesses to pay for the services they use, which can result in cost savings compared with traditional video conferencing solutions. Furthermore, cloud-based video services provide scalability to meet the changing needs of an organization.
Get a glance at the market contribution of various segments Download the VaaS Market Analysis Report PDF Sample
The public cloud segment was the largest segment and valued at USD 1.33 billion in 2018. Moreover, businesses can easily scale up or down based on the number of users and the level of usage, allowing for flexibility as the company grows or experiences fluctuations in demand. In addition, public cloud VaaS enables users to access video-conferencing and collaboration tools from virtually anywhere with an Internet connection. Furthermore, this is particularly beneficial for organizations with distributed teams, remote workers, or international offices, fostering collaboration regardless of geographical location. Hence, such factors are fuelling this segment which in turn drives the market and forecasting during the forecast period.
The growing adoption of VaaS across large enterprise segment will increase the market growth. Large enterprise segment with teams spread across various locations use VaaS for remote meetings and collaboration. In addition, video conferencing allows team members to connect face-to-face regardless of their physical location, fostering better communication and collaboration. Moreover, for organizations with international offices and teams, VaaS enables seamless collaboration across borders. In addition, video conferencing facilitates real-time communication, reducing the challenges associated with time zone differences and allowing global teams to work together effectively. Hence, such factors are fuelling this segment which in turn drives the market during the forecast period.
For more insights on the VaaS Market share of various regions Download PDF Sample now!
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing shift toward remote and hybrid work models has accelerated the adoption of video conferencing and collaboration tools which is fuelling the growth of the market in the region. In addition, VaaS providers play a crucial role in supporting communication and collaboration among remote teams, increasing the demand for VaaS solutions. Moreover, the demand for seamless video conferencing experiences has driven the growth of VaaS platforms in North American enterprises. Furthermore, the advancement of cloud-based technologies has facilitated the deployment of VaaS solutions. Hence, such factors are driving the market growth in North America during the forecast period.
The surge in Mobile broadband usage has catalyzed the adoption of VaaS (Video as a Service) in various sectors, particularly in virtual education, further propelled by AI (Artificial Intelligence) and ML (Machine Learning) technologies. Live and On-demand videos are seamlessly delivered through Software as a Service (SaaS) platforms over Internet Protocol (IP) networks, offering enhanced learning experiences. Artificial Intelligence (AI) and Machine Learning (ML) algorithms optimize Video Streaming & Management, ensuring efficient resource allocation and personalized content recommendations. Deep learning techniques improve video analysis for better insights.
Market research and growth in the VaaS sector heavily rely on AI-driven analytics, forecasting market trends and optimizing service offerings. However, addressing security and privacy concerns is pivotal for sustained market growth. Robust encryption mechanisms and stringent access controls are imperative to safeguard sensitive video data, fostering trust among users and stakeholders alike.
One of the key factors driving the market growth is the increased adoption of these in virtual education. There has been a surge in the adoption of VaaS fuelled by the shift toward online learning and remote education, accelerated by factors such as the COVID-19 pandemic. In addition, educational institutions leverage video-communication for virtual classrooms, lectures, and interactive learning experiences.
Moreover, VaaS facilitates the creation of virtual classrooms where educators can conduct live video-sessions, engage with students in real-time, and deliver lectures. In addition, this mode of virtual teaching enhances accessibility and flexibility for both educators and students. Furthermore, video-communication allows for interactive learning experiences, including virtual discussions, collaborative projects, and question-and-answer sessions. Hence, such factors are positively impacting the video-as-a-service market. Therefore, it is expected to drive market growth during the forecast period.
A key factor shaping the video as a service market growth is the emergence of immersive technologies in VaaS. AR and VR technologies improve collaboration by offering a more immersive and interactive environment. In addition, participants in virtual meetings can engage with 3D models, spatial annotations, and virtual objects, fostering a more dynamic collaboration experience. Furthermore, VR-based VaaS solutions allow users to conduct meetings and collaborations in virtual spaces.
Moreover, participants can create avatars, navigate virtual environments, and interact with content in a way that goes beyond traditional video conferencing. In addition, immersive VaaS solutions leverage spatial audio to create a sense of presence and directionality of sound, enhancing the feeling of being in a shared space. Furthermore, this contributes to a more natural and realistic communication experience. VR-based VaaS is being used for virtual training and simulation scenarios. Hence, such factors are positively impacting the video-as-a-service market. Therefore, it is expected to drive market growth during the forecast period.
Concerns associated with the security and privacy of VaaS platforms are one of the key challenges hindering video-as-a-service market growth. There are several concerns about unauthorized access to video meetings and the potential for data breaches are critical. In addition, unauthorized individuals gaining access to confidential meetings can lead to the exposure of sensitive information. Therefore, ensuring end-to-end encryption and secure transmission of video-data is essential.
Moreover, security vulnerabilities in transmission protocols or weak encryption mechanisms can expose communications to interception and unauthorized monitoring. In addition, VaaS platforms often handle personal and organizational data. Furthermore, there are several concerns arise regarding how user data are collected, stored, and processed. Hence, such factors are negatively impacting the video-as-a-service market. Therefore, it is expected to hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acronis International GmbH: The company offers video as a service, such as acronis cyber cloud product demo.
Alphabet Inc: The company offers video as a service such as Cloud Video-Intelligence API by its subsidiary Google LLC.
Amazon.com Inc: The company offers video as a service, such as interactive video-service under AWS.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The VaaS Market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Video Surveillance as a Service (VSaaS) Market: Video Surveillance as a Service (VSaaS) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Germany, Japan, UK - Size and Forecast
Online Video Platform Market: Online Video Platform Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Germany, UK, China, India - Size and Forecast
Digital Video Content Market: Digital Video Content Market by Deployment, Application, and Geography - Forecast and Analysis
The market is experiencing rapid expansion, driven by the increasing demand for cloud video services and video conferencing services. Businesses are leveraging cloud computing and 5G technology to access high-quality video service and real-time video service from managed services providers (MSPs) and cloud vendors. This shift towards VaaS is propelled by the need for seamless collaboration, enhanced by features such as facial recognition, live transcripts, and AI-based VaaS incorporating machine learning for improved performance. Moreover, the rise in remote access video services caters to diverse needs, from executive messaging to webcasting and live streaming.
However, challenges persist, including noise during video, low-quality video, and security breaches, necessitating robust solutions such as AI and ML-powered video content analysis to mitigate risks like fire incidents, road accidents, and thefts while minimizing false alarms. As market trends indicate a growing preference for on-demand video content and collaboration in video editing, the market growth analysis forecasts a promising future for VaaS, driven by innovations in high-quality live and on-demand video services. The market is growing rapidly, driven by the increasing use of live videos over Internet Protocol (IP) network, providing users with remote access video service capabilities to monitor various activities.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
155 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 16.34% |
|
Market growth 2024-2028 |
USD 5.33 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
15.94 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 41% |
|
Key countries |
US, China, Japan, UK, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Video-as-a-Service (VaaS) Market Industry Report |
|
Key companies profiled |
Acronis International GmbH, Advanced Control Corp., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Cloudastructure Inc., Commvault Systems Inc., Dell Technologies Inc., Honeywell International Inc., Insight Enterprises Inc., International Business Machines Corp., Microsoft Corp., NetApp Inc., Quantum Corp., RiversideFM Inc., Robert Bosch GmbH, Signature Video Group, Thinkmojo, Vidico, and YUM YUM DIGITAL |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period, VaaS Market Growth Analysis |
|
Customization purview |
If our VaaS Market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Video-as-a-Service (VaaS) Market Forecast PDF Sample
We can help! Our analysts can customize this Market growth and forecasting report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
