Enterprise Video Market

[327 Pages Report] The Enterprise video market size is expected to grow from USD 23.8 billion in 2024 to USD 35.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period. The impact of the recession (before, during, and after the recession) on the market is covered throughout the report. Some of the key driving factors of the market include increased demand for remote collaboration tools, growing preference for video content in corporate communication, the rise of hybrid work environments, and advancements in video streaming technology, among others.

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Recession Impact on the Global Enterprise Video Market

A recession can significantly impact the Enterprise video market across organizations, industry verticals, and regions. Businesses may delay investments in advanced technologies as they prioritize cost-cutting over innovation. Startups in the field may struggle to secure funding as investors become more risk-averse. The impact of a recession on the digital media enterprise video market could be mitigated to some extent by the growth of online advertising. However, the industry/market might encounter hurdles due to reduced consumer spending and intensified competition for advertising revenue. Declining consumer expenditure during economic downturns could dampen the demand for entertainment offerings such as recreational tickets and cable TV subscriptions, reducing the earnings of video solutions and service firms engaged in their production and distribution.

Enterprise video Market Dynamics

Driver: Expansion of the digital workplace ecosystem across various devices and platforms

The expansion of the digital workplace ecosystem is a significant driving force in the enterprise video market. Businesses increasingly recognize the importance of integrating video solutions into their digital workflows to enhance employee communication, collaboration, and knowledge sharing. As organizations embrace remote work and flexible work arrangements, there is a growing demand for integrated video solutions that facilitate seamless content creation, management, and distribution across diverse devices and platforms across enterprises, irrespective of size. This trend underscores the need for robust and scalable video platforms that can accommodate the evolving needs of modern workplaces, driving innovation and growth in the enterprise video market. The expansion of the digital workplace ecosystem refers to the growing scope and integration of digital technologies within modern workplaces. This expansion involves businesses adopting various digital tools and solutions to enhance productivity, collaboration, and employee communication. Specifically, companies are increasingly seeking integrated solutions for content creation, management, and distribution. This means they are looking for comprehensive platforms or software that can handle all aspects of creating, organizing, and sharing content seamlessly across different devices (such as computers, tablets, and smartphones) and platforms (such as web browsers, mobile apps, and cloud storage services) (diversified). The goal is to streamline workflows, improve efficiency, and facilitate collaboration in the digital workplace environment.

Restraints: Lack of compatibility across a wide range of devices

The compatibility of video solutions across different devices and platforms is crucial for ensuring widespread accessibility and usability. However, the lack of compatibility with all devices and platforms poses a significant limitation for enterprise video solutions. Users may encounter difficulties accessing or viewing video content if the solution is incompatible with their preferred devices or operating systems. This limitation hampers the seamless integration of video into various workflows and communication channels within organizations, restricting its effectiveness as a communication and collaboration tool. Furthermore, limited compatibility may also hinder the adoption of video solutions among employees or stakeholders who rely on specific devices or platforms, thereby impeding the overall uptake and utilization of enterprise video solutions in diverse organizational settings.

Opportunities: AI and Analytics integration plays a pivotal role for more startups to monetize their enterprise video offerings by embedding integration into their offerings

Integrating AI and advanced analytics presents a significant opportunity in the Enterprise Video market by enhancing the capabilities of video solutions in several key areas. AI-powered features such as facial recognition, sentiment analysis, and natural language processing (NLP) enable organizations to extract valuable insights from video content, such as viewer engagement, sentiment trends, and content effectiveness. Additionally, AI-driven video analytics can automate tasks such as content tagging, indexing, and searching, making it easier for users to discover and navigate video content. Furthermore, predictive analytics can anticipate viewer preferences and behavior, enabling organizations to personalize video content and improve audience engagement. Overall, integrating AI and analytics in Enterprise Video solutions empowers organizations to leverage video data more effectively, optimize content delivery, and enhance user experiences, driving innovation and differentiation in the market.

Challenges: Lack of sufficient bandwidth for High-quality video streaming

The demand for high-quality video streaming in the enterprise video market poses a challenge due to its intensive bandwidth requirements. This strain on network resources can result in performance issues such as buffering, latency, and degraded video quality. Organizations may struggle to maintain a smooth and reliable video streaming experience, especially during peak usage. Additionally, the need for robust network infrastructure to support high-bandwidth video transmission adds to the cost and complexity of implementing enterprise video solutions. As a result, the bandwidth constraints and associated network performance issues serve as a restricting factor against the widespread adoption of enterprise video solutions, particularly for organizations with limited network capabilities.

Based on the offering, Solutions will hold a larger market share in the Enterprise video market during the forecast period.

Enterprise video solutions help increase the remote workforce's overall productivity and reduce the costs associated with traveling and engagement. Thus, enterprise video solutions are crucial in reducing the overall Operational Expenditure (OPEX) and Capital Expenditure (CAPEX). Effective enterprise collaboration offers a seamless video experience for various application areas, such as marketing, client engagement, knowledge sharing, team collaboration, and employee training. The advanced enterprise video solutions also comply with regulations, such as HIPPA and GDPR, making adopting these solutions easier for highly regulated industries. Major enterprise video solution vendors are gradually adopting technologies, such as DRM, NLP, AR/VR, 5G, and AI/ML, to offer an advanced suite of solutions to cater to the business needs of the customers; this factor is expected to provide growth opportunities to the enterprise video solutions in the upcoming years. Vendors are offering cloud and on-premises solutions to meet customers' business needs.

Based on solutions, the Webcasting segment will record the highest CAGR in the Enterprise video market during the forecast period.

Webcasting solutions are integral to the global enterprise video market, enabling organizations to broadcast live or on-demand video content to a large online audience. These solutions facilitate virtual events, corporate communications, training sessions, and product launches. For instance, a multinational corporation might use a webcasting solution to stream its annual shareholder meeting to stakeholders worldwide in real time, ensuring broad accessibility and engagement. With features like interactive Q&A sessions and analytics tracking, webcasting solutions offer a versatile platform for enterprises to connect with their audiences effectively, irrespective of geographical barriers.

North America is predicted to hold the largest Enterprise video market share during the forecast period.

Enterprises are increasing their budgets to accommodate Enterprise video, thus supporting the growth of the Enterprise video market in North America. The US and Canada are the key North American enterprise video market countries. As a major economy, the US holds a significant market share due to the country's technological advancements, the inclination toward innovation, and the adoption of new technologies. Organizations have invested substantially in advanced technologies to gain a competitive advantage and increase business productivity. The Enterprise video market is expected to grow steadily as enterprises adopt cloud-based solutions and services at various levels to sustain themselves and achieve improved business functioning. Some of the top vendors in the market include IBM, Microsoft, Zoom, Google, and AWS, among others.

Key market players

The Enterprise video market is dominated both by established companies as well as startups such as IBM (US), Zoom (US), Google (US), Microsoft (US), Avaya (US), AWS (US), Cisco (US), GoTo (US), Adobe (US). These vendors have a large customer base, a strong geographic footprint, and organized distribution channels. They incorporate organic and inorganic growth strategies, including product launches, deals, and business expansions, boosting revenue generation.

The study includes an in-depth competitive analysis of these critical enterprise video market players with their company profiles, recent developments, and key market strategies.

Scope of Report

This research report categorizes the Open Banking solutions market to forecast revenue and analyze trends in each of the following submarkets:

Based on Offering:

• Solutions
  • Video conferencing
  • Video content management
  • Webcasting
• Services
  • Professional services
  • Managed services

Based on Application:

• Corporate Communications
• Training & Development
• Marketing & Client Engagement

Based on Deployment model:

• On-premises
• Cloud

Based on Organization Size:

• SMEs
• Large Enterprises

Based on Verticals:

• BFSI
• Telecommunications
• Media & Entertainment
• Retail & Consumer Goods
• Healthcare & Life Sciences
• Education
• IT & ITeS
• Other Verticals

Based on Region:

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
• Middle East & Africa
  • Gulf Cooperation Council (GCC)
  • South Africa
  • Rest of the Middle East & Africa
• Latin Americ
  • Brazil
  • Mexico
  • Rest of Latin America     

Recent Developments

• In February 2024, IBM partnered with Wipro, where it announced the launch of the Wipro Enterprise AI-ready Platform. This service will allow clients to create enterprise-level, fully integrated, customized AI environments.
• In January 2024, Zoom launched the Zoom application for Apple Vision Pro, which seamlessly integrates video conferencing with users' physical surroundings, blurring the boundaries between in-person and virtual meetings. Through the expansive canvas offered by Apple Vision Pro, distributed teams can experience a heightened sense of connection and inclusivity during meetings. Zoom on Apple Vision Pro creates an immersive experience (spatial experience) to scale.
• In September 2023, Microsoft Advertising launched a new video ad offering called Video and Connected TV (CTV) ads (advertising strategy). CTV feature expands ad-serving possibilities simultaneously while leveraging audience intelligence, targeting high-value customers, and increasing the conversion rate. CTV ads are served across Microsoft's sites, publisher partners, and on connected TV in the US, namely (CTV) Microsoft Start, MSN, CNN, Hulu, the Washington Post, and the Wall Street Journal, among others.
• In January 2023, IBM Watson Media launched its brand-new IBM live-streaming video mobile application. The mobile app for video streaming enables simultaneous live streaming of multiple videos. Specifically designed for businesses, it includes AI-powered closed captioning. Administrators have the flexibility to edit these captions for better context and comprehension.
• In July 2022, Google partnered strategically with Miro, a visual collaboration tool provider. Miro will use Google Workspace to integrate its collaboration tools with the Google Meet video conferencing platform. The partnership will enable customers to share and access new and existing Miro boards during a video meeting over Google Meet.

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