Enterprise Video Market Size, Trends, Opportunities and Demand by 2023
Enterprise video technology also incorporates collaborative techniques in an organization’s functioning. These factors are increasing the adoption of this technology, thus providing opportunity for growth. Based on delivery mode, the global enterprise video market can be broadly segmented as video streaming, webcasting, web conferencing and video conferencing.
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Based on end-users the global enterprise video market can be segmented as banking, financial services and insurance (BFSI), academia and government, healthcare, consumer goods and retail, media and entertainment, manufacturing, telecom and IT; and transportation and logistics. On the basis of application, the global enterprise video market can be bifurcated as corporate communication, knowledge sharing and management, learning and development and others.
North America and Europe were the two of the major enterprise video market. The market dominance of developed regions is attributed to wide adoption of video communication among the blue chip companies in this region. Asia-Pacific is expected to witness significant market penetration during the next five years, attributed to growing communication services industry in the developing countries such as India and China. Country wise, the U.S. and Canada are two of the largest enterprise video market in North America. Germany, the U.K., France and Spain are the major regional market In Europe. India, China, Japan and Australia are driving the enterprise video market in Asia-Pacific market.
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The enterprise video market is consolidated. About 50% of the market share is being occupied by the top six companies; Cisco Systems, Inc., and Polycom were the largest player in the enterprise video market. Some of the competitors in the enterprise video market are Verizon Communications Inc., Polycom, Microsoft Corporation., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., Hewlett-Packard (HP), Computer Sciences Corporation (CSC), Cisco Systems, Inc., Avaya Inc. and Alcatel-Lucent S.A. .
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