IBM (US) and Microsoft (US) are leading players in Enterprise Video Market
The enterprise video market size is projected to grow from USD 19.8 billion in 2022 to USD 31.4 billion by 2027, at a CAGR of 9.7% during the forecast period. The adoption rate of enterprise video is increasing due to increasing smartphone adoption across the world. The increasing number of mobile subscribers represents the rising potential for enterprise video solutions. The number of mobile subscribers around the world is expected to grow significantly in the upcoming years. As the number of smartphone users grows, several people can rely on their smartphones to connect with their peers remotely.
Various globally established players such as IBM (US), Google (US), Microsoft (US), Avaya (US), and AWS (US) are dominating the enterprise video market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the nterprise video market.
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IBM offers IBM enterprise video Streaming, a cloud-based, secure live, and on-demand video solution. It helps to enhance video-based communications across digital events, virtual meetings, training programs, etc., that help accelerate virtual engagement from any device and location. In June 2021, IBM announced a partnership with the University of Georgia to go virtual after facing hard times during the COVID-19 pandemic. The partnership helped the Department of Theatre of Films Studies at the University of Georgia to deliver live streaming performances to their viewers.
Another important player in the enterprise video market is Microsoft, one of the world’s leading manufacturers of play materials. Microsoft has started providing technology-driven solutions as well in recent times. With such a wide portfolio and offerings, Microsoft caters to the business need of customers in more than 190 countries around the globe. In July 2022, Microsoft teamed up with Netflix to build a cost effective, advertising-supported streaming plan that will accelerate customer subscription rates and open a new channel to increase revenue. In November 2021, Microsoft teamed up with Meta to benefit joint customers by integrating Meta’s Workplace with Microsoft Teams.
Related Reports:
Enterprise Video Market by Offering, Application (Corporate Communications, Training & Development, and Marketing & Client Engagement), Deployment mode, Organization Size, Delivery Technique, Vertical, and Region - Global Forecast to 2027
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