Video PaaS Market Is Expected To Witness CAGR Of 7.6% During The Forecasted Period (2019-2027) - Coherent Market Insights - PowerPoint PPT Presentation

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Video PaaS Market Is Expected To Witness CAGR Of 7.6% During The Forecasted Period (2019-2027) - Coherent Market Insights

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Title: Video PaaS Market Is Expected To Witness CAGR Of 7.6% During The Forecasted Period (2019-2027) - Coherent Market Insights


1
Coherent market insightsMarket Research and
Business Consulting Services
https//www.coherentmarketinsights.com/market-insi
ght/video-paas-market-3591
2
Market Overview
  • Video platform-as-a-service (PaaS) is a
    cloud-based solution that facilitates developers
    to include real-time video communication features
    without needing to build backend infrastructure
    and interfaces. Video PaaS offers all types of
    services and tools required to embed real-time
    communication capabilities into web-based
    applications. Moreover, it can develop real-time
    communications applications, business processes
    or mobile apps. To accelerate time-to-market for
    communications-rich services and applications,
    systems integrators (SIs) independent software
    vendors (ISVs), and service providers can
    leverage a PaaS. It can also be used by IT
    organizations for customer-facing applications or
    to communications- enable business processes that
    are cost-effectively and quick to access.

3
  • The Global Video PaaS Market, by Deployment Type
    (Public Cloud, and Private Cloud), by Application
    (Video Conferencing, Video Collaboration,
    Broadcasting Video Communication, Real Time Video
    Monitoring, Video Content Management, and Others
    (enterprise and developer-based services)), by
    End-use(Social, Media Entertainment, Education,
    Healthcare, and Banking Finance) and by
    Geography (North America, Europe, Asia Pacific,
    Latin America, and Middle East Africa) - Global
    Forecast to 2027, was valued at US 3,09,130
    million in 2019, witnessing a CAGR of 43 during
    the forecast period (2019-2027), as highlighted
    in a report published by Coherent Market Insights.

4
Market Dynamics- Drivers
  • Increasing globalization of business
    organizations is expected to drive growth of the
    global video PaaS market during the forecast
    period
  • Technological advancements in communication have
    enabled companies to perform virtual meetings
    through video conferencing, video collaboration,
    and real-time video communication with
    employees/clients located all over the world.
    Network cloud platform technologies provide space
    for business organizations to come together and
    share business opportunities globally. The
    capability to transfer and connect information
    regardless of location is what makes
    collaboration easier and more effective.
    Therefore, increasing globalization of business
    organization is increasing the adaptation rate of
    Video PaaS across all big and small business
    organizations in the world. Thus, these factors
    are expected to drive the global video PaaS
    market growth during the forecast period.

5
  • Growing demand for video conferencing services,
    especially in media, education, and healthcare
    industries is expected to propel the global video
    PaaS market during the forecast period
  • Growing requirement for enterprise mobility
    combined with increasing number of mobile users
    have led to many businesses to adopt cloud-based
    video conferencing services. This high adoption
    is majorly observed in various sectors including
    healthcare, education, government, and media,
    which is expected to support the market growth
    over the forecast period. Video conferencing
    allows data sharing that is not performed in live
    meetings. Moreover, other side recordings of
    video conferences offers critical records for
    regulatory and security requirements. These
    factors are expected to boost the global video
    PaaS market during the forecast period. According
    to Coherent Market Insights analysis, the U.S.
    holds dominant position in the cloud-based video
    conferencing services while the Asia Pacific
    region is expected to be the fastest growing
    market.

6
  • North America region dominated the global Video
    PaaS market in 2019, accounting for 86.3 share
    in terms of value, followed by Asia Pacific, and
    Latin America respectively

7
Market Dynamics- Restraints
  • Risk associated with data security is expected to
    restrain growth of the global video PaaS market
    over the forecast period
  • Increasing cyber-attacks and privacy issues are
    some of the major challenges for the global video
    PaaS market. Increasing information security is
    one of the major concerns for companies,
    especially while implementing secure video
    communications in corporate network, wherein B2B
    communication via IP requires safe infrastructure
    of firewall. Moreover, risk of data loss,
    information leakage, hacking issues, and more are
    expected to hinder the market growth over the
    forecast period.

8
  • Increasing issues regarding quality are expected
    to hinder the global video PaaS market growth
    over the forecast period
  • High-quality video conferencing is primary
    priority for business organizations, as there are
    many issues regarding quality of video. Consumer
    expectations, especially in business
    applications, are not being fulfilled by the
    current standards of video quality. Furthermore,
    rising familiarity with high-definition and 4K
    resolution video continue to increase concerns
    over quality of video conferencing. Providing
    poor quality video conferencing service can
    affect consumer experience, which in turn, will
    compel participants to find an alternate
    solution. Hence, these factors are expected to
    hamper the global video PaaS market growth in the
    near future.

9
Market Opportunities
  • Increasing penetration of high-speed internet is
    expected to present major business opportunities
    for market players
  • According to Coherent Market Insights analysis,
    around 40 of global population are access to an
    internet connection. Video communication is one
    of the highlighting features of internet access
    and hence there is an increasing demand for video
    PaaS by enterprises as well as developers.
    Therefore, increasing penetration of internet is
    expected to offer major growth opportunities
    during the forecast period.

10
  • Growing adoption of private cloud is expected to
    provide excellent growth opportunities in the
    near future
  • One of the major advantages of private cloud is
    it offers enhance security and control over the
    date. There is always a risk of hacking and data
    leak when it is stored onto public cloud. Thus,
    private cloud has become a preferable option for
    small as well as large enterprises in video
    commination applications. According to Coherent
    Market Insights analysis, in terms of security,
    private cloud accounts for 60 share as compared
    to public cloud and is the most preferred
    deployment type for video PaaS. Such factors are
    expected to pose excellent growth opportunities
    for major market players over the forecast
    period.

11
Growing adoption of private cloud is expected to
provide excellent growth opportunities in the
near future
12
  • Global Video PaaS market, by end-use segment,
    education sub-segment was accounted for 41.7
    market share in 2019 and is expected to grow at a
    CAGR of 50.2 between 2019 and 2027.

13
Market Trends
  • Increasing Popularity of 3D video conferencing is
    major trend in the global market
  • Advancements in technology has offered 3D video
    conferencing software systems that offer a wide
    range of opportunities for individuals, business,
    and corporate entities who need virtual meeting
    capabilities to communicate across distances.
    Special cameras such as TrueConf 3D allows live
    stereo imaging and simultaneous transmission of
    three-dimension media across networks.
    Furthermore, 3D video conferencing facilitate
    users to collaborate and exchange dialogues with
    colleagues and clients in a setting that offers
    enhanced video conference experience. According
    to Coherent Market Insights analysis, Europe and
    North America hold dominant position in the
    global 3D video conferencing market and account
    for 80 of the total market share.

14
  • Availability to develop customized application is
    another major trend in the market
  • PaaS is a category of cloud computing services
    that provides an application development platform
    with a development tool hosted in the cloud and
    accessed through a web browser. The cloud
    resources are managed and deployed by cloud
    service providers whereas end users have can use
    the service on pay-per-use basis. Moreover,
    developers can build new web application without
    installing any tools at their end and deploy
    applications without any specialized system
    administration skills.

15
Competitive Section
  • Key players operating in the global video PaaS
    market are Vidyo, Sightcall, Sinch, GENBAND,
    Twilio, Inc., TokBox, Agro.io, and Xura.

16
Key Developments
  • Key players in the market are focused on mergers
    and acquisitions, in order to gain competitive
    edge in the market. For instance, in August 2018,
    Vonage, a U.S.-based cloud communications
    provider, acquired TokBox for US 35 million in
    cash.
  • Key companies in the market are involved in
    product launches, in order to enhance their
    product portfolio. For instance, in March 2016,
    io introduced Agora Video. It is a cloud offering
    that provides premium multi-party video
    conferencing globally between WebRTC-compliant
    Web browsers and mobile devices.

17
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • https//www.coherentmarketinsights.com/market-insi
    ght/video-paas-market-3591

18
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

19
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