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Enterprise Video Market Dominance of Developed Regions is Attributed to Wide Adoption of Video Communication
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Based on delivery mode, the global enterprise video market can be broadly segmented as video streaming, webcasting, web conferencing, and video conferencing. Based on end-users the global enterprise video market can be segmented as banking, financial services and insurance (BFSI), academia and government, healthcare, consumer goods and retail, media and entertainment, manufacturing, telecom and IT; and transportation and logistics. On the basis of application, the global enterprise video market can be bifurcated as corporate communication, knowledge sharing and management, learning and development, and others. Based on hardware, the global enterprise video market can be segmented as video casting devices, video distribution, video recording and storage devices, and video management and control. On the basis of software, the market can be segmented as video collaboration software, video security software, video asset management, video encoding and decoding software, video content management, and video analytics software.
Corporate communication was the largest application segment of enterprise video in 2014. Video messaging is gaining popularity among the various enterprise levels since it offers more amiable feel than that of a block of text in an email. Webcasts allow workers to join events and seminar irrespective of their location. Moreover, workers training can also be given more efficiently with video streaming. It facilitates time and cost saving for the enterprise. From supplier prospective, the increasing use of cloud based services is opening new growth opportunities for the enterprise video market. Cloud and hybrid based solutions is expected to grasp considerable market, particularly from on-premises enterprise video solutions during the forecast period.
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North America and Europe were the two of the major enterprise video market in 2014. The market dominance of developed regions is attributed to wide adoption of video communication among the blue chip companies in this region. Asia-Pacific is expected to witness significant market penetration during the next five years, attributed to growing communication services industry in the developing countries such as India and China. Country wise, the U.S. and Canada are two of the largest enterprise video market in North America. Germany, the U.K., France and Spain are the major regional market In Europe. India, China, Japan, and Australia are driving the enterprise video market in Asia-Pacific market.
The enterprise video market is consolidated. About 50% of the market share is being occupied by the top six companies; Cisco Systems, Inc., and Polycom were the largest player in the enterprise video market in 2014. Some of the competitors in the enterprise video market are Verizon Communications Inc., Polycom, Microsoft Corporation., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., Hewlett-Packard (HP), Computer Sciences Corporation (CSC), Cisco Systems, Inc., Avaya Inc., and Alcatel-Lucent S.A.
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