Video networking networks as a service is a cloud-based distribution platform that enables real-time communication capabilities, such as voice, video, and feedback, to be accessed by providing application user interfaces to enterprise users. It can supplement business applications with features such as call-up and multifactor authentication.
Factors such as increasing demand for video conferencing services in media, business, education, and healthcare, increasing penetration of the internet and growing enterprise adoption of video communication facilities across the globe are projected to augment the demand for video communication platform as a service (PaaS) industry in the coming future. The growth of cloud integration is also likely to fuel the overall industry growth. Hence, the market size for the global video communication platform as a service (PaaS) is projected to reach USD 20.4 billion by 2028 with a CAGR of 31.3%. Video PaaS provides online, two-way, high-performance video using the first web-endpoint-centric tech solution to the API. This helps web developers work in their language, prototyping in hours, and making development run smoother.
As a result of the increasing demand for this service in the industry, media, education, and health care, expanded usage of video communication facilities in industries and growing penetration of the worldwide Internet usage, the demand for global video communication network as services (PaaS) market is substantially gaining. Moreover, the rise in cloud integration is further boosting the revenue growth of the global market. Besides, the growth of digital video communications (PaaS) industry is driven by higher spending on cloud-based data infrastructure and lower ownership costs.
However, the growing problems regarding data protection and rising quality issues hamper the growth of the global video communication network as the services industry. Furthermore, the growth of the video communication platform as a service market is fueled by various factors such as the growing demand for video conference services in BFSI, media and entertainment, education, retail and healthcare, and increasing Internet penetrations worldwide. Additionally, the increase in AI and video processing technologies will also provide substantial opportunities for video communication as a service (PaaS) industry. Nonetheless, the growing customer concerns concerning data protection, growing quality problems, and a lack of acceptable real-time business cases will hinder the growth of the global video communication platform (PaaS) market over the next couple of years.
The global market for video communication as a service (PaaS) platform includes type and application segments. The category is further divided into private voice calling, video calling, live audio sharing, storage, live video streaming, and recording. In 2019, the Video Calling earned the largest share of revenue in the global video networking platform as a service (PaaS) market. This is primarily attributed to a high data protection requirement and rising competition for real-time communication capability. The portion of the public cloud is projected to expand at a substantial rate of growth from 2020 to 2028.
The global market for video communication as a service (PaaS) platform has intense competition among well developed and new emerging players. Through investing in alliances, mergers, and acquisitions and expanding their markets, these industry leaders seek to achieve a strategic edge over the other participants.
Geographically, the global video communication platform as a service (PaaS) market is categorized into North America, Europe, South America, Asia Pacific, and the Middle East & Africa. North America is considered a mature market in the video communication platform as a service (PaaS) application, owing to the presence of technologically advanced IT infrastructure in the region. Also, Europe and the Asia Pacific are expected to see steady growth for the video networking platform as a service (PaaS) in their respective markets over the projected timespan.
The major players of the global video communication platform as a service (PaaS) market are Cisco System Inc., Avaya Inc., Applied Global Technologies LLC, Interoute Communication Limited, VBrick Systems Inc., Polycom Inc., Adobe Systems, and AVI-SPL Inc., Huawei Technologies Co Ltd., and more. The video communication platform as a service (PaaS) market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Video Communication Platform as a Service (PaaS) Market
Type Overview, 2019-2028 (USD Billion)
- Voice Calling
- Video Calling
- Live Audio Streaming
- Live Video Streaming
Application Overview, 2019-2028 (USD Billion)
- Field Services
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America