Video as a Service (VaaS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The video as a service (VaaS) market registered a CAGR of 33.79% over the forecast period 2021-2026. As mobile working increases, employees are developing remote working skills that use Video Conferencing and Collaboration tools, to drive productivity and help achieve a better work/life balance. The collision of the BYOD and collaboration trends is paving the way for professional Mobile Video Conferencing solutions enabling employees to collaborate with colleagues on-the-go, on whatever device they choose.

• Increasing investment on cloud-based video services is driving the market. Cloud-based ingestion systems can help automate the process of creating, organizing, and keeping track of the source video files. Also CDNs (Content Delivery Networks) that handle streaming media delivery are in fact cloud-based networks of proxy servers and data centers. CDNs are geographically optimized to provide high availability and high performance, which increases the demand in the market.
• Enabling digital workforce is driving the market. Video conferencing software not only creates a more collaborative meeting culture in the organization, it’s a foundation for enabling today’s digital workforce. Video meetings help teams maintain human connections, irrespective of physical location, which speeds up decision making and improves the ability to collaborate globally.
• High cost of video content creation and validity is restraining the market due to high end camera with professional lighting kit.

Scope of the Report

The video as a service market is a fully managed visual communication solution complete with high capacity low latency connectivity. Majorly, managed services in small and medium business include video conferencing and video communication, which are used mostly in organizations to run day-to-day business models. 

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Key Market Trends

Network Management Platform to Drive the Market Demand

• As the number of advanced applications continues to expand, importance of managing and monitoring the network increases. The video business is growing faster and Network Function Cloudification (NFC) enables carriers to shift their content distribution networks (CDNs), session border controllers (SBCs), storage, computing, and other functions into the cloud, where one can flexibly scale up network elements and processing to handle the sudden spikes of video services.
• Network provider provides video system health monitoring services to some of the largest retail, banking and transportation organizations in the world. Cloud-based Insight platform gives convenient online access to video network health information, network visibility, asset control,  and SLA (service level agreement) performance management.
• Virtual reality, augmented reality, and holograms will become increasingly common, and they will demand even faster networks, with ultra-low latency. Huawei is innovating services and network solutions, which will help carriers build video networks that are cost-effective, high-bandwidth, and highly scalable, because Huawei want to embrace the video era together with telecom carriers.
• With Cisco Virtualized Video Processing one can coordinate virtual video functions such as encoding, transcoding, recording, packaging, encapsulation, and delivery. Service providers and media companies can easily scale video processing workflows to support the video services required for multiservice and multiscreen TV.

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