MarketsandMarkets forecasts the global video as a service market size to grow from USD 3.8 billion in 2020 to USD 6.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. VaaS solutions are designed to enable seamless video communication experiences throughout an organization (i.e. internal and external stakeholders) for various applications. VaaS solutions are cloud-based video conferencing services used for employee training and development, learning and knowledge sharing, marketing, and client engagement by enabling interactions among the organization members and customers. These video conferencing solutions increase the efficiency of corporate communication through high-quality video conferencing and enabling real-time collaborations thereby, increasing the need for video conferencing solutions.
The key and emerging market players in the VaaS market include Microsoft (US), Zoom Video Communications (US), Cisco (US), Adobe (US), Avaya (US), Google (US), AWS (US), Poly (US), LogMeIn (US), RingCentral (US), Zoho Corporation (India), PGi (US), Wickr (US), Pexip (Norway), Starleaf (UK), BlueJeans Network (US), Enghouse Systems (Canada), Qumu (US), Sonic Foundry (US), ON24 (US), Lifesize (US), Kaltura (US), Kollective (US), VIDIZMO (US), and VBrick (US). These players have adopted various strategies to grow in the global VaaS market.
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Microsoft is a leading vendor in the VaaS market. The company offers a large product portfolio, which includes OS, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft designs, manufactures, and sells devices, such as PCs, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. The company also offers cloud-based services, support services, and consulting services to its customers. Additionally, Microsoft delivers relevant online advertising to a global audience.
Zoom Video Communications is a communication solutions provider, offering their cloud platform for video, phone, content sharing, and chat runs across mobile devices, desktops, telephones, and room systems. The company develops a people-centric cloud service that transforms the real-time collaboration experience and improves the quality and effectiveness of communications. Industries served by Zoom Video communications include education finance, government and healthcare. The company’s Meetings and Chat solutions provides HD video, audio, collaboration and chat capabilities, Rooms and Workspaces solution provides video solution for conference rooms, and Video Webinars solutions provide capabilities to conduct full-featured, easy-to-use, and engaging webinars.
Video as a Service Market by Application (Corporate Communication, Training and Development, and Marketing and Client Engagement), Cloud Deployment Mode, Vertical (Healthcare and Life Sciences and BFSI), and Region - Global forecast to 2026
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