Video as a Service Market Overview
Video as a Service Market Share is expected to register a robust CAGR of 6.30% & will reach a market value of USD 2 billion by 2030.
Video as a Service (VaaS) is a hosted service that provides video conferencing and other video-related services to businesses and individuals over the internet. With VaaS, customers can use the provider’s cloud-based infrastructure to make video calls, host webinars, and live stream events without having to maintain their own hardware or software. VaaS often includes features such as screen sharing, file sharing, and collaboration tools, and the service can be accessed from a variety of devices, including desktop computers, laptops, tablets, and smartphones. Some popular VaaS providers include Zoom, Cisco Webex, and Microsoft Teams. VaaS has become increasingly popular in recent years, as more businesses and organizations have moved to remote work and virtual communication.
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The Global Video as a Service Market is segmented by deployment model, enterprise size, application, and industry vertical.
Training & Development
Marketing & Client Engagement
By Cloud Deployment
It & Telecommunications
Media & Entertainment
The Global Video as a Service Market is divided into the following regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
In 2020, North America dominated the worldwide Video as a Service Market. The United States is the region’s main market due to the rising acceptance of Video as a Service by enterprises for real-time collaboration and communication.
The Asia-Pacific region’s market is estimated to grow the fastest throughout the projected time frame. This can be attributed to increased efforts by the governments of China, Japan, Singapore, Australia, and India to promote digital services to customers and meet consumer expectations by leveraging the cloud Video as a Service platform.
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Zoom Video Communications Inc. (US)
Cisco Systems Inc. (US)
Avaya Inc. (US)
Amazon Web Services Inc. (US)
Plantronics Inc. (US)
LogMeIn Inc. (US)
RingCentral Inc. (US)
Zoho Corporation Pvt. Ltd. (India)
Premiere Global Services Inc. (US)
Wickr Inc. (US)
Pexip AS (Norway)
Major industry competitors are constantly enhancing their product offerings to keep a competitive edge and suit evolving customer demand. As a result, they are fusing advanced technologies like AI, deep learning, and machine learning with Video as a Service (VaaS).
In September 2020, Zoom Video Communications collaborated with Lumen to enable Lumen to use Zoom as part of their Unified Communications and Collaboration Suite.
In May 2020, Sony Semiconductor Solutions and Microsoft collaborated to broaden customer access to AI-powered smart cameras and video analytics tools.