Video Collaboration as a Service (VCaaS) Market:
Executive Summary
Video Collaboration as a Service (VCaaS) did not have a lot of options or players a few years ago. But as the world is increasingly taking a digital road, the need for these services have boomed up significantly. Also, new market dynamics have entered the picture and are redefining this industry.
Video conferencing solutions are needed to assist organizations in achieving their objectives and goals. Discussion of strategies, training, and other communication is done through video conferences to improve and boost the overall business results.
Web-based technologies are being integrated into the IT sector, which, simply put, is the process of communication between employees and customers. And this market has a lot of potential in the foreseeable future.
Significant investments are being made to give rise to innovative products, taking into consideration the rising demand of the consumers. This is being done to bring down the manufacturing cost and to increase research & development by leading Video Collaboration as a Service (VCaaS) providers.
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The fundamentals of working cultures are changing because of the increased utilization of automation and globalization worldwide. Companies are seeking next-gen collaboration tools to fit the dynamic communication requirements in the market.
Video-based social apps, digital classrooms, virtual banking, smart factories, digital talent acquisition, and e-healthcare are the sectors which have the highest demand for these video services as their primary user-selling-point depends on it.
Video communications are on the road to becoming the primary mode of communication in the corporate sector. The increased consumption of mobile devices and people’s demand for video consumption in all its forms is rising, and the traditional modes of networking and communicating are no longer viable. This industry might replace the traditional way of carrying out business or personal interactions.
The population is looking out for a hassle-free video collaboration or conferencing system that enables people to connect with just a click of a button. New products are being launched every day to transform the VCaaS Market. The potential success factor of this industry is very high, and consumers want more collaboration vendors and service providers worldwide.
Segmentation
The Size, Growth, Forecast of Video Collaboration as a Service (VCaaS) Market has been thoroughly analysed in this report. The study is segmented according to the Technology Type (Cloud Conferencing, On-Premise Conferencing), Usage Type ( Meetings, Webinars, Trainings), and Competitive Landscape (Market Share Analysis).
This study includes the Global, Regional, and Country analysis of this industry, according to the segments mentioned above. Strategic recommendations, market dynamics, and company analysis are provided as well.
Regional Analysis
The regions that have been studied in this report are – North America, Europe, Asia- Pacific, the Middle East, & Africa. The challenges, trends and drivers of Video Collaboration as Service (VCaaS) is also inspected. Various developing countries have an increasing demand for growth in this sector as they rely on such services to communicate with consumers and competitors worldwide.
Industry News
The global CAGR of this industry has increased significantly from 2015 – 2019. And market predictions indicate that within the next four to five years, this industry will witness dramatic growth. The users of Video Collaboration as a Service (VCaas) is increasing every day, along with the rise in remote employment and digital job opportunities.
Currently, the most prominent names in the market are – Zoom Video Communications, Inc, Cisco WebEx, LogMein, Inc, BlueJeans Network, and Intercall.
Continuous…
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