Enterprise Video Market: Global Analysis with Focus on Development Strategy, Opportunity Assessment, Key Findings | Impact of COVID-19
Market Analysis
The enterprise video market size will touch USD 31 billion at a 13% CAGR between 2016- 2022, as per the Market Research Future (MRFR) analysis. Enterprise video platform is akin to content management systems having proprietary content, chiefly videos for internal combustion of enterprise members. This is basically a communication hub for the general public, stakeholders, partners, vendors, and employees. Owing to its alluring features and benefits it has wide applications in corporate learning, training and development, and others.
Various factors are propelling the global enterprise video market growth. As per the MRFR report, such factors include growing adoption of cloud technology, demand for video as a device to improve association and communication across enterprises, rising internet penetration, burgeoning demand for video streaming, growing need for organizations to reduce operational expenses, and used as an effective tool by marketers. The COVID-19 pandemic had a positive impact on the market for the growing trend of remote working as well as collaborative approach that has led to the demand for content management and video conferencing.
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Regional Analysis
By region, the global enterprise video market covers the market opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, North America will spearhead the market over the forecast period. The presence of key players and growing adoption in Canada and the US are adding to the global enterprise video market growth in the region.
In Europe, the global enterprise video market is predicted to hold the second-largest share over the forecast period. The booming BFSI and healthcare sector is adding to the global enterprise video market growth in the region.
In the APAC region, the global enterprise video market is predicted to have healthy growth over the forecast period. The growing communication service industry in the developing countries such as Australia, Japan, China, and India, rapid adoption of enterprise video solutions, need for robust collaborations, enhanced decision-making across and within organizations, partnerships, presence of several regional solution providers, growing popularity of e-learning and distance education modules, and growing adoption by SMEs and large enterprises are adding market growth.
In the Rest of the World, the global enterprise video market is predicted to have sound growth over the forecast period.
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