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Analyzing the Growth Rate of the Enterprise Video Market: What’s the Expected CAGR for the Next Decade?

The size of the enterprise video market has experienced rapid expansion in previous years. There is an anticipated growth from $22.02 billion in 2024 to $24.64 billion in 2025, with a compound annual growth rate (CAGR) of 11.9%. The substantial growth in the past can be credited to factors like improved internet accessibility, the transition towards remote working, the surge in video streaming services, increased need for on-demand video content, an enhanced user experience, decreased costs of video production, requirements for corporate training and communication, and the sprawl of e-learning platforms.

In the forthcoming years, the enterprise video market size is predicted to witness speedy expansion, reaching a value of $38.31 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.7%. Factors driving this growth during the projection period include the expansion of the 5G network, a surge in hybrid work model adoption, the need for superior video content, advancements in virtual and augmented reality, improved cybersecurity measures, and the development of cloud-based video systems. The period of forecast will be characterised by heightened application of AI and machine learning, surging demand for ultra-high-definition video, amalgamation of virtual and augmented reality, concentrated efforts towards fortified video safety, widespread adoption of cloud-based video technologies, and more focus on tailored content.

How Are the key drivers expanding the growth of the Enterprise Video Market?

The growth of the enterprise video market is being driven by the escalating demand for remote work and collaboration. These terms relate to the concept of individuals or groups cooperatively working from disparate locations with the help of digital technologies and tools. Shifts in work patterns, technological innovations, and the necessity for flexibility due to worldwide occurrences such as the COVID-19 pandemic are contributing to the rise of remote work and collaboration. Enterprise video plays a crucial role in this scenario, assisting to diminish the divide among geographically scattered teams by facilitating effective dialogues, virtual gathering, and common access to knowledge resources, hence improving efficiency and unity among off-site workers. For example, a study conducted by AT&T, an American telecommunication company in February 2022 revealed that the adoption rate of a hybrid work framework where employees balance both remote and office work is anticipated to grow from 42% in 2021 to 81% in 2024. This bolstering requirement for remote work and collaboration is spurring the expansion of the enterprise video market.

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What Are the Leading Organizations Impacting the Enterprise Video Market’s Growth?

Major companies operating in the enterprise video market are:

• JPMorgan Chase & Co._x000D_

• Bank of America Corporation_x000D_

• Wells Fargo_x000D_

• GE Capital_x000D_

• Crest Capital_x000D_

What Are the Most Prominent Trends Driving Change in the Enterprise Video Market?

Leading enterprises in the video market are concentrating on technology and analytics integration, including AI video analytics, to distill important insights from video data for security, operations, marketing, and decision-making processes. AI video analytics implemented in enterprise video, refines video content, boosts security, and offers actionable information through sophisticated data analysis and machine learning algorithms. For example, Claro Enterprises Solutions, a US-based telecom company, unveiled AI video analytics in May 2023. The benefits of AI video analytics comprise improved security, operational efficiency, customer experience enhancement, and cost reductions through automated video analysis and insights. Innovations in AI video analytics are transforming surveillance and security systems by utilizing artificial intelligence algorithms to examine video data, thereby enabling real-time threat detection, behavior analysis, and bettering decision-making abilities.

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What Are the Core Segments of the Enterprise Video Market, and How Do They Contribute to Growth?

The enterprise video market covered in this report is segmented –

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

Subsegments:

1) By Video Conferencing: On-Premise Video Conferencing, Cloud-Based Video Conferencing, Video Conferencing Hardware, Video Conferencing Software

2) By Video Content Management: Video Storage Solutions, Video Cataloging And Indexing, Video Distribution Platforms, Video Analytics Solutions

3) By Webcasting: Live Webcasting Solutions, On-Demand Webcasting, Webcasting Platforms For Events, Corporate Webcasting Solutions

What Regions Are Leading the Charge in the Enterprise Video Market?

North America was the largest region in the enterprise video market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise video market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

How Is the Enterprise Video Market Categorized and Defined in the Industry?

Enterprise video refers to the use of video technology within businesses and organizations for communication, training, marketing, and collaboration purposes. Its primary aim is to enhance internal and external communication, streamline processes, and drive engagement and productivity within the enterprise setting.

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