The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Market Overview

The enterprise video market has witnessed significant growth, increasing from $19.72 billion in 2023 to a projected $22.02 billion in 2024. This growth represents a compound annual growth rate (CAGR) of 11.6%. Key factors driving this expansion include:

• Increased Internet Penetration: Wider access to high-speed internet facilitates video streaming and communication.
• Shift to Remote Work: The transition to remote and hybrid work models boosts demand for enterprise video solutions.
• Growth in Video Streaming Services: Rising popularity of on-demand video content enhances market growth.
• Enhanced User Experience: Improved video quality and user interfaces contribute to market expansion.
• Cost Reduction in Video Production: Advances in technology lower production costs.
• Corporate Training and Communication Needs: Growing demand for effective training and internal communication.
• Expansion of E-Learning Platforms: Increased use of video for educational purposes.

Projected Market Expansion

The enterprise video market is set to continue its rapid growth, with projections indicating a rise to $34.34 billion by 2028, at a CAGR of 11.8%. This anticipated growth is attributed to:

• 5G Network Expansion: Enhanced network capabilities enable better video quality and lower latency.
• Increased Adoption of Hybrid Work Models: Continued reliance on hybrid work setups drives demand for robust video solutions.
• Demand for High-Quality Video Content: Growing expectations for superior video experiences.
• Growth in Virtual and Augmented Reality: Integration of VR and AR technologies with video solutions.
• Enhanced Cybersecurity Measures: Improved security protocols protect video data.
• Expansion of Cloud-Based Video Solutions: Adoption of cloud services for scalable and flexible video solutions.

View More On The Enterprise Video Market Report 2024 –
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Major Trends in the Forecast Period:

• Increased Use of AI and Machine Learning: Advanced analytics and automation for video content and security.
• Rising Demand for Ultra-High-Definition Video: Higher resolution video content becoming more prevalent.
• Integration of Virtual and Augmented Reality: Enhanced immersive experiences through VR and AR.
• Focus on Enhanced Video Security: Greater emphasis on protecting video content from unauthorized access.
• Proliferation of Cloud-Based Video Platforms: Growth of scalable, on-demand video services.
• Greater Emphasis on Personalized Content: Tailoring video content to individual preferences and needs.

Remote Work and Collaboration Driving Market Growth

The surge in remote work and collaboration is a major driver of the enterprise video market. Remote work enables individuals and teams to work together from different locations using digital tools. The key benefits of enterprise video for remote work include:

• Effective Communication: Facilitates virtual meetings and discussions.
• Shared Access to Knowledge: Enhances collaboration and resource sharing.
• Fostering Productivity: Bridges gaps between geographically distributed teams.

According to a February 2022 study by AT&T, the percentage of companies adopting a hybrid work model is projected to increase from 42% in 2021 to 81% in 2024, underscoring the growing reliance on enterprise video solutions for remote work.

AI Video Analytics Advancements

AI video analytics is transforming the enterprise video market by enhancing data analysis and providing valuable insights. Key advantages of AI video analytics include:

• Enhanced Security: Real-time threat detection and behavior analysis.
• Operational Efficiency: Automated video analysis reduces manual effort and increases accuracy.
• Customer Experience Optimization: Improved engagement through personalized video content.
• Cost Savings: Reduces the need for extensive human resources in video analysis.

For example, Claro Enterprises Solutions launched AI video analytics in May 2023, offering advanced features for enhanced security and operational efficiency.

Recent Market Developments

Praxedo Acquires ViiBE: In April 2023, Praxedo acquired ViiBE Communication to enhance its video assistance solutions. This acquisition aims to improve remote support capabilities, customer service, and field operations.

Market Segmentation

The enterprise video market is segmented as follows:

1. By Solution:
   • Video Conferencing
   • Video Content Management
   • Webcasting
2. By Services:
   • Integration and Deployment
   • Managed Service
   • Professional Service
3. By Deployment:
   • Cloud
   • On-premises
4. By Application:
   • Corporate Communications
   • Training and Development
   • Marketing and Client Engagement
5. By End-User:
   • Information and Technology (IT) and Telecom
   • Banking, Financial Services, and Insurance (BFSI)
   • Healthcare and Life Sciences
   • Media and Entertainment
   • Education
   • Retail and Consumer Goods
   • Other End-Users

Regional Insights: North America was the largest market for enterprise video solutions in 2023. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period.

Conclusion

The enterprise video market is poised for significant growth driven by technological advancements and changing work environments. As businesses increasingly adopt remote and hybrid work models, the demand for robust, high-quality video solutions will continue to rise, shaping the future of enterprise communication and collaboration.

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The Enterprise Video Global Market Report 2024  provides comprehensive insights on the enterprise video market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the enterprise video market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Volumetric Video Global Market Report 2024

Video-As-A-Service (VaaS) Global Market Report 2024

Video Streaming Software Global Market Report 2024

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