The video as a service market is expected to grow from US$ 4.02 billion in 2022 to US$ 15.47 billion by 2030; it is estimated to record a CAGR of 18.3% from 2022 to 2030.
Analyst Perspective:
Growing demand for video-based communications among consumers, a shift from full-time on-site work to a remote or hybrid working model, rising use of video conferencing services in the healthcare industry, increasing investments in video conferencing solutions, and growing adoption of cloud technology drive the video as a service market growth. However, growing data privacy and security concerns due to the lack of cybersecurity measures hinder the growth of video as a service market. The population in developed and developing countries increasingly adopt and implement advanced technologies in various systems. Demand for a technologically advanced video as a service is growing to enhance work efficiency and reduce infrastructure costs of business operations, which supports growth of the video as a service market. Moreover, the rising demand for advanced technologies, including 5G, artificial intelligence (AI), augmented reality, virtual reality, and data analytics, is expected to create opportunities for the global video as a service market during the forecast period. Further, a few benefits of video as a service software such as real-time visibility, simplified business operations, and engaging customer communication propel the global video as a service market growth.
Market Overview:
Video as a service (VaaS), also known as “video conferencing-as-a-service (VCaaS),” is a hosted service that allows customers to use a provider’s infrastructure for making video calls. Video call communication takes place between two individuals or more than two people and devices (multipoint) in different locations (point-to-point). The service is typically hosted in the cloud, which eliminates the need for downloading an application to use the service. VaaS allows end-use orgnizations to focus on their core functions by reducing the time and effort required to build and maintain their video conferencing infrastructure. This cloud-based service offers significant benefits to the users, including scalability, access to technical support, lower investment costs, and reduced need for in-house specialists, which increases the adoption among industries. Also, cost-saving benefits associated with VaaS services boost the video as a service market growth.
Market Driver:
Growing Demand for Video-Based Communications Among Consumers Drives Video as a Service Market Growth
Video conferencing and communication services have grown consistently in recent years. Increasing globalization of companies and growing need for cost-effective and scalable communication solutions among consumers drive demand for video as a service software. WebinarCare data of September 2023 shows that more than 76% of individuals use video calls to work remotely. This allows employees to deliver productivity in their work by maintaining a better work-life balance. Growing use of video calls raise the demand for video as a service among consumers. Video as a service has many features such as screen sharing, calendar scheduling, file sharing, cross-platform messaging, password protection, meeting recordings, waiting rooms, meeting reminders, and contact channels. These features support users to handle and manage daily business activities by increasing overall operational productivity and maintaining data privacy, which is fueling the demand for video as a service solution.
According to Quixy, the demand for virtual meetings grew from 48% to 77% between 2022 and 2022, which increases the demand for video as a service among consumers to streamline the collaboration between employees. This service supports individuals to increase their focus on projects or tasks assigned by their superiors. Video as a service also helps the user to effectively work and conduct a brief discussion over a video call. Rise in virtual meeting activities increases the demand for video as a service among consumers to maintain a smooth flow in their daily activities.
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Video as a Service Market: Strategic Insights
Market Size Value in US$ 4.02 billion in 2022 Market Size Value by US$ 15.47 billion by 2030 Growth rate CAGR of 18.3% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Video as a Service Market: Strategic Insights
| Market Size Value in | US$ 4.02 billion in 2022 |
| Market Size Value by | US$ 15.47 billion by 2030 |
| Growth rate | CAGR of 18.3% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The video as a service market is segmented on the basis of deployment mode and industry vertical. Based on deployment mode, the video as a service market is segmented into public cloud, private cloud, and hybrid cloud. In terms of industry vertical, the video as a service market is categorized into IT & telecom, healthcare & life sciences, retail & e-commerce, BFSI, education, media & entertainment, government & public sector, and others. By region, the video as a service market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
Based on deployment mode, the video as a service market is segmented into public cloud, private cloud, and hybrid cloud. The public cloud segment held a larger video as a service market share in 2022 and is anticipated to grow during the forecast period. Cloud platforms offer extensive storage capabilities for video content and powerful processing units for video encoding, decoding, and analysis. Public cloud services have a global presence, with data centers distributed worldwide. This enables the efficient delivery of video content to users across different geographic locations. Public cloud providers integrate with CDNs to optimize the delivery of video content. This is crucial for reducing latency and ensuring a smooth streaming experience. The integration of public cloud services with VaaS enhances the agility, scalability, and accessibility of video applications. It allows businesses to focus on building innovative video solutions without the need to manage complex infrastructure components, promoting a more efficient and cost-effective approach to video-related services.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
North America held the largest video as a service market share in 2022. The North America video as a service market is segmented into the US, Canada, and Mexico. The region contributes a noteworthy share to the global video as a service market owing to high adoption and investments in cloud technology and growing number of industries in the region. Video as a service allows organizations to conduct remote video meetings by fostering collaboration among partners and team members from different locations. The video as a service market in North America is anticipated to expand in the future owing to the presence of a large number of well-established players such as Cisco Systems, Inc.; Zoom Video Communications, Inc.; Microsoft; Google; Adobe; and others. The market players continuously develop and expand their service portfolio to attract new customers. In October 2023, Zoom Video Communications, Inc. partnered with Swoogo to modernize hybrid events by bringing larger and more engaged audiences. Through this partnership, both companies are integrating their technology into a virtual platform that focuses on engagement and high-quality production and scale. The integration can support customers to use Zoom Events or Swoogo for sharing video data between platforms and is expected to be commercially available in early 2024. Market players operating in the region are raising awareness about the benefits provided by video as a service to SMEs, which fuels the video as a service market growth in the region. Moreover, the growing adoption of video conferencing and other cloud-based communication services drives the video as a service market in North America. In addition, the demand for high-quality internet and continuous access to visual meetings among organizations contributes to regional growth of video as a service market.
The presence of major players, such as Cisco Systems, Inc., Zoom Video Communications, Inc., Microsoft, Google, and Adobe, is driving the video as a service market in the US. These players are engaged in developing new innovative technologies to support enterprises for better engagement and interactions during video conferences. For instance, in September 2023, Zoom Video Communications, Inc. launched Zoom AI Companion across the Zoom platform. Zoom AI Companion is a new generative AI assistant that stores the overall content of the meeting and allows users to ask specific questions related to the meeting content. It also empowers users by helping them to be more productive, improve their skills, connect and collaborate with teammates, and provide additional language support, which increases its demand among consumers. Thus, driving the video as a service market in the region.
Key Player Analysis:
Cisco Systems Inc, Zoom Video Communications Inc, Microsoft Corp, Amazon Web Services Inc, Avaya Holdings Corp, Google LLC, Adobe Inc, RingCentral Inc, Dekom AG, and BlueJeans are among the key video as a service market players profiled in the report.
Recent Developments:
The video as a service market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
- In June 2023, Sony Electronics Inc. announced that Zoom Video Communications Inc. will be coming to BRAVIA TVs, compatible with BRAVIA CAM1. This partnership will allow users to easily connect with family, friends, and colleagues through video calls and meetings from the comfort of their living room. Sony's BRAVIA is the first TV brand to support the Zoom for TV app on Google Play Store.
- In April 2023, Adobe introduced industry-first innovations Premiere Pro to its family of video applications, Premiere Pro involves AI-powered text-based video editing and automated color tone-mapping capabilities with GPU acceleration and dozens of workflow enhancements that makes it fastest version of Premiere Pro ever released. The company also celebrating 30 years of After Effects, the world’s most popular motion design software for video professionals, consistent color support, adding a context-sensitive Properties Panel for enhanced user productivity, and performance optimizations.
- In August 2022, RingCentral, Inc. announced the availability of AI-powered video capabilities, along with extended browser support for RingCentral MVP and RingCentral Video customers.
- In July 2022, Cisco introduced a new Webex Wholesale Route-to-Market (RTM) to fulfill the growing needs of small and medium service provider partners. The new Webex Wholesale Route-to-Market (RTM) model includes a self-service platform and single commercial agreement with each partner to deliver managed services for Webex, as well as the scalability, agility, and flexibility to create their own co-branded offers.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment Mode, and Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global video as a service market was estimated to be US$ 4.02 billion in 2022 and is expected to grow at a CAGR of 18.3% during the forecast period 2022 - 2030.
Growing demand for video-based communications among consumers, increasing adoption of remote working model, and rising use of video conferencing services in healthcare industry are the major factors that propel the global video as a service market.
Growing video marketing and selling trends is impacting the video as a service market, which is anticipated to play a significant role in the global video as a service market in the coming years.
The key players holding majority shares in the global video as a service market are Zoom Video Communications Inc, Cisco Systems Inc, Microsoft Corp, Adobe Inc, And Google LLC.
The global video as a service market is expected to reach US$ 15.47 billion by 2030.
The incremental growth expected to be recorded for the global video as a service market during the forecast period is US$ 11.44 billion.
The List of Companies – Video as a Service Market
- Cisco Systems, Inc.
- Zoom Video Communications, Inc.
- Microsoft Corp
- Amazon Web Services Inc.
- BlueJeans by Verizon
- Avaya Holdings Corp
- Google LLC.
- RingCentral Inc.
- Adobe Inc.
- DEKOM AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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