Video as a Service (VaaS) Market Increasing at A Phenomenal Pace to Reach more than USD 7.4 Billion by 2028

Major companies in Video as a Service (VaaS) market are Cisco Systems, Inc., Adobe Systems, Huawei Technologies Co., Limited, Polycom, Inc., Interoute Communications Limited, Zoom Video Communications, Microsoft, AWS, Google and RingCentral amongst others. These players are set to bolster the development of global Video as a Service (VaaS) market.

According to analysts at Zion Market Research, the global) market accounted for more than USD 3.9 Billion in 2020 and is expected to reach more than USD 7.4 Billion by 2028, growing at a CAGR of 8.6% from 2021 to 2028.

Digitalization And Introduction of 5G Technology To Spur Growth

“Increased investments in cloud-based video services, lower ownership costs, a substantial move toward digitalization; the rise of the trend of bring-your-own-device to work, introduction of 5G technology as well as an increase in number of employees working from home because of the COVID-19 pandemic will garner the growth for Video as a Service (VaaS market in the years ahead,” says the author of this study. Cloud services that are used by businesses are complicated require a higher ownership cost and at the same time, they are complicated to install. As VaaS services are taken care of by the managed service providers it enables organizations and businesses to reduce their investments in building the infrastructure needed to host these services. Businesses and organizations have to pay only for the resources they require to use the video conferencing services as the vendors providing cloud services have their service platforms deployed on their own servers. Thus organizations can save money on infrastructure, support costs, and licensing.

5G technology will act as one of the major growth factor for the VaaS market. It will bring in major improvements to the cloud computing with its low to characteristics like zero latency that will enable smoother communications via conferencing and recording. Introduction of newer technologies using artificial intelligence and machine learning will spur the adoption of video conferencing over 5G.

Global-Video-as-a-Service (VaaS)-Market

With the presence of a large pool of participants, the Video as a Service (VaaS) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Cisco Systems, Inc., Adobe Systems, Huawei Technologies Co., Limited, Polycom, Inc., Interoute Communications Limited, Zoom Video Communications, Microsoft, AWS, Google and RingCentral, among others are some of the key providers of Video as a Service (VaaS) across the world. The VaaS market is fragmented, as major players worldwide are working towards innovating their services to deliver cost-beneficial offers to customers, creating fierce competition among market competitors.

Increased Investment in Construction Sector to Support Asia Pacific Growth

Regionally, Asia Pacific has been one of leading the worldwide Video as a Service (VaaS) market and is anticipated to continue to grow in the years to come, states the Video as a Service (VaaS) market study. This surge is due the initiatives undertaken by the government to promote the digital infrastructure. Several service providers in Asia Pacific region are now collaborating with solution providers to improve and adapt services based on local clients' business needs. In APAC's emerging countries, there is a vast untapped opportunity for VaaS providers. The major contributors to the APAC VaaS market are Japan, China, Japan, Australia and New Zealand. In addition, presence of significant number of regional solution providers who offer a variety of services at competitive prices in this region is propelling market growth.

Browse the full “Video-As-A-Service (VaaS) Market By Platform Type (Application Management, Network Management And Device Management), Cloud Deployment Type (Public, Private, And Hybrid), By End Use Industry (BFSI, Manufacturing, IT And Telecom, Mobile And Entertainment, Government And Defense, Healthcare, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/video-as-a-service-market

The Video as a Service (VaaS) market is segmented as follows:

By Platform Type

• Application Management
• Network Management
• Device Management

By Cloud Deployment Type

• Public
• Private
• Hybrid

By End Use Industry

• BFSI
• Manufacturing
• IT and Telecom
• Mobile and Entertainment
• Government and Defense
• Healthcare
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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