Video Paas Market - Evolving Industry Trends and key Insights by 2024

A video conference is a face-to-face visual connection between two or multiple group of people residing in separate locations, for the purpose of communication. Video conferencing offers transmission of static images, text, full-motion video images, and high-quality audio between two locations. The global video communication Platform as a Service (PaaS) market is projected to register a CAGR of 39.2% in terms of value during the forecast period.

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Key market dynamics

Factors such as increasing demand for video conferencing services in media, business, education, and healthcare; growing enterprise adoption of video communication facilities; and an increasing penetration of the internet across the globe is likely to positively impact the growth of the global video communication Platform as a Service (PaaS) market over the forecast period. Growth of cloud integration is further fueling the revenue growth of the global video communication Platform as a Service (PaaS) market. However, rising concerns regarding data security, increasing quality issues, and lack of a proper business case for real-time communications is likely to restrict growth of the global video communication Platform as a Service (PaaS) market over the forecast period.

Several trends are likely to govern the global video communication Platform as a Service (PaaS) market in the next eight years. Rising popularity of 3D video conferencing, increasing focus on mobile video conferencing, growing adoption of browser-based video conferencing using WebRTC, and an adoption of the private cloud by service providers are some of the trends expected to impact the global video communication Platform as a Service (PaaS) market during the forecast period.

Segment analysis

The global video communication Platform as a Service (PaaS) market is segmented on the basis of Deployment Type (Public Cloud, Private Cloud); Application (Video Conference & Collaboration, Broadcasting Video Communication, Real Time Video Communication, Video Content Management, Others); and End Use (Social, Media & Entertainment, Education, Healthcare, Banking & Finance). By deployment type, the Private Cloud segment is estimated to account for a significantly high value share of 57.4% by 2016 end. The Public Cloud segment is expected to account for 30.9% value share in the global video communication Platform as a Service (PaaS) market by 2024. By application, the Broadcasting Video Communication segment revenue is projected to register Y-o-Y growth rates ranging from 21.7% to 41.5% over 2016–2024. This segment is expected to expand at a comparatively high CAGR of 41.4% over the forecast period. The Video Content Management segment is expected to expand at a significant CAGR over the forecast period. By end use, revenue from the Education segment is expected to register a relatively high CAGR during the forecast period. This segment is estimated to account for a significantly high value share of 37.5% by 2016 end. The Social and Healthcare segments are projected to register significant CAGRs over the forecast period.

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Regional analysis

The global video communication Platform as a Service (PaaS) market is segmented into the five main regions of North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America is estimated to be the largest market in the global video communication Platform as a Service (PaaS) market by 2016 end in terms of volume. In terms of value, the market in North America is estimated to account for a significantly high market share of 85.4% by 2016 end and is expected to expand at a CAGR of 39.1% over the forecast period. The APAC and Europe markets are projected to expand at CAGRs of 38.8% and 40.3% respectively over the forecast period.

Key market players

GENBAND, Vidyo Inc., SightCall, Twilio, Inc., TokBox, Xura, Sinch, and Agora.io are the main companies operating in the global video communication Platform as a Service (PaaS) market.

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