Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Video-as-a-Service (VaaS) Global Market 2023" report has been added to ResearchAndMarkets.com's offering.
The Thriving Video-as-a-Service (VaaS) Market: Unveiling Growth Trajectories and Key Trends
The global video-as-a-service (VaaS) market is poised for remarkable growth, with projections indicating a rise from $3.77 billion in 2022 to $4.55 billion in 2023, at an impressive Compound Annual Growth Rate (CAGR) of 20.65%. This growth trajectory is set to continue, as the market is anticipated to reach $10.23 billion in 2027, with a CAGR of 22.46%.
The VaaS market holds immense potential driven by factors like increasing internet user numbers and technological advancements. In this landscape, it becomes crucial to understand the market's dynamics, its relationship with the broader economy and society, and the forces shaping its evolution. This report delves into these aspects, providing insights into market characteristics, growth, segmentation, regional breakdowns, competitive landscape, trends, and strategies.
Market Dynamics: The Driving Forces
1. Internet User Expansion: A pivotal driver is the surge in internet users worldwide. As more individuals actively engage in online communities and activities, the internet's vast network of resources becomes a hub for communication, information, and entertainment. VaaS enhances user experiences by offering live streaming, video on demand, and home security tools. Notably, during the COVID-19 pandemic, global internet users surged from 4.1 billion in 2019 to 4.9 billion in 2021, as reported by the International Telecommunication Union (ITU), a specialized UN agency.
2. Technological Advancements: A significant trend in the VaaS market is technological advancement. Key market players are intensively investing in research and development to innovate, with a focus on enhancing security and user experience. One such innovation is end-to-end encryption (E2EE), a robust communication technique that safeguards data during transmission. For instance, Zoom Video Communications introduced E2EE in video conferencing to bolster security.
Strategic Acquisitions: Market players are actively expanding through acquisitions to augment their capabilities. Microsoft's acquisition of Clipchamp exemplifies this trend, as the company aims to enhance its offerings by integrating Clipchamp's video creation and editing suite, leveraging its ease of use and computing power.
Market Insights by Region
1. North America: Leading the VaaS market, North America exhibits robust growth due to the region's technological prowess and early adoption of innovative solutions.
2. Asia-Pacific: The Asia-Pacific region is set to emerge as the fastest-growing region. The expansion of internet infrastructure and adoption of digital solutions in this dynamic region contribute to its accelerating VaaS market.
Market Context and Outlook
The VaaS market is intricately linked to the broader economy, societal shifts, and technological progress. The market's rapid expansion is fueled by the increasing integration of technology into various facets of life, impacting sectors like communication, entertainment, education, and business operations. As VaaS adoption proliferates, it has the potential to reshape industries, redefine consumer experiences, and contribute to economic growth.
Future Shaping Forces
The future of the VaaS market will be shaped by multiple factors:
1. Evolving Internet Landscape: As internet penetration deepens and connectivity improves, the VaaS market's growth will be propelled by greater access to online services and enhanced user experiences.
2. Technological Innovations: Ongoing technological advancements, particularly in areas like AI, encryption, and real-time communication, will continue to redefine VaaS offerings, making them more secure, interactive, and efficient.
3. User Preferences: The changing preferences of users, who increasingly demand personalized and interactive content, will drive the development of innovative VaaS solutions catering to these needs.
4. Regulatory Landscape: Regulations around data security and privacy will play a crucial role in shaping the VaaS market. Compliance with stringent data protection laws will be a key factor in market players' strategies.
In conclusion, the VaaS market's rapid expansion is a result of increasing internet use, technological innovations, and strategic industry moves. As the market continues to grow, it will intersect with the broader economy, technological evolution, and changing user behaviors, redefining how we communicate, interact, and consume content.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $4.55 Billion |
| Forecasted Market Value (USD) by 2027 | $10.23 Billion |
| Compound Annual Growth Rate | 22.5% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Video-as-a-Service (VaaS) Market Characteristics
3. Video-as-a-Service (VaaS) Market Trends and Strategies
4. Video-as-a-Service (VaaS) Market - Macro Economic Scenario
4.1. COVID-19 Impact On Video-as-a-Service (VaaS) Market
4.2. Ukraine-Russia War Impact On Video-as-a-Service (VaaS) Market
4.3. Impact Of High Inflation On Video-as-a-Service (VaaS) Market
5. Video-as-a-Service (VaaS) Market Size and Growth
5.1. Global Video-as-a-Service (VaaS) Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Video-as-a-Service (VaaS) Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Video-as-a-Service (VaaS) Market Segmentation
6.1. Global Video-as-a-Service (VaaS) Market, Segmentation by Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Managed Services
- Broadcasting Video Communication
- Video Conferencing
- Video Content Management
- Real-Time Video Monitoring
- Professional Services
- Consulting
- System Integration
- Support and Maintenance
6.2. Global Video-as-a-Service (VaaS) Market, Segmentation by Deployment Model, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Private Cloud
- Public Cloud
- Hybrid Cloud
6.3. Global Video-as-a-Service (VaaS) Market, Segmentation by Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Large Enterprises
- Small and Medium Enterprises
6.4. Global Video-as-a-Service (VaaS) Market, Segmentation by Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Corporate Communications
- Training and Development
- Marketing and Client Engagement
6.5. Global Video-as-a-Service (VaaS) Market, Segmentation by Industrial Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Banking, Financial Services and Insurance (BFSI)
- Information Technology (IT) and Telecom
- Healthcare and Life Sciences
- Education
- Media and Entertainment
- Government and Public Sector
- Retail and Consumer Goods
- Other Industrial Vertical
7. Video-as-a-Service (VaaS) Market Regional and Country Analysis
7.1. Global Video-as-a-Service (VaaS) Market, Split by Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Video-as-a-Service (VaaS) Market, Split by Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
A selection of companies mentioned in this report includes:
- Amazon Web Services Inc.
- Avaya Holdings Corp.
- BlueJeans
- Cisco Systems Inc.
- Huawei Technologies Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/omdbrq
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