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Enterprise Video Market: Forecasts and Analysis (2013 - 2018)
With the amelioration of enterprise video technologies across the globe, enterprises are embracing decentralization of industrial environments. Enterprise video solutions bring seamless mobility among the workforce, due to which satellite offices, home-based offices, and remote workforce culture are coming into place. Enterprise video helps in connecting remote locations and decreases complexity in communications among enterprises.
Technologies such as high efficiency video codec, alter-HD, web real-time communication, search, indexing, captioning, transcoding and aggregation are enriching the video content delivery among enterprises. Technologies guiding enterprise video market are still in nascent phase, but it is expected to grow at a rapid rate in the coming years. Web video conferencing offers virtual meeting where employees can interact sitting far away from each other. Seamless mobility and remote workforce is helping enterprises to drive competitive advantage and increase profitability. With the advent of new technologies, companies are able to communicate through advance platform involving the use of high definition content, smart cloud and social data analytics, immersive telepresence and unified communication.
As the cloud adoption proliferates, enterprise video market is also gaining traction. Cloud adoption helps in creating a virtualized environment for video conferencing by hosting business-critical applications. Cloud adoption in enterprise video market enables mass uses of video communication and video platforms among enterprises and reduces operational costs.
The adoption of cloud also favors Bring Your Own Device (BYOD) culture, due to increased use of mobile devices in enterprises. As use of mobile devices in enterprises is becoming ubiquitous, employees are communicating from different locations, leading to widespread use of mobile devices. It has become easier for any company’s sales team to prosper their needs for communication, anywhere and anytime.
Small and Medium Businesses (SMB) across regions are emerging at a rapid pace, mostly in developing economies such as APAC and MEA. This has lead to increase in opportunities for enterprise video market among these companies. Small and Medium Businesses are adopting video conferencing solutions for meeting their communication needs and establishing an effective mobile workforce. It is estimated that Asia Pacific region would emerge out to be the largest SME region in the coming years.
Software would constitute a major share of total Enterprise Video Market in the coming years. This is basically due to the increased adoption of cloud and virtualization technologies in the market. Companies are hosting their critical applications and hardware in cloud, as it increases scalability and reduces operational costs.
MarketsandMarkets estimates, that enterprises will invest in enterprise video solutions in a much encouraging rate than before. Sectors such as academia and government, media and entertainment, healthcare and financial services have shown positive outlook in terms of corporate compliance and regulations, thereby promoting enterprise video market forward. These developments together are not only serving to bring easier and faster repurposing and distribution of video content, but also developing the overall market as a whole.
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