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The global video PaaS market is expected to grow at a CAGR of 24.8% between 2023 to 2032 to reach US$ 47.21 billion by 2032.

SANTA ROSA, CALIFORNIA, UNITED STATES, May 11, 2023/EINPresswire.com/ -- The Global Video PaaS Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global video PaaS market size was estimated to be US$ 5.15 Billion in 2022 and is expected to reach US$ 47.21 Billion by 2032 at a CAGR of 24.8%. Video PaaS (Platform-as-a-Service) is a cloud-based platform that provides a range of services and tools for managing, processing, and delivering video content. Video PaaS solutions offer businesses and organizations a cost-effective and scalable way to manage their video content, without the need for expensive hardware or software.

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Video PaaS solutions typically offer a range of features, including video transcoding and processing, content management, content delivery, and analytics. These features can be used to manage video content for a variety of purposes, such as live streaming, video conferencing, e-learning, and marketing.
One of the main advantages of Video PaaS solutions is that they are highly flexible and can be easily customized to meet the specific needs of a business or organization. Video PaaS solutions are also designed to be highly scalable, allowing businesses to easily scale up or down their video content based on demand.

Growth driving factors of Global Video PaaS Market

Following are some of the major factors driving the market –

Growing demand for online video content:

The demand for online video content has been growing rapidly, as more people prefer to watch videos online rather than traditional TV. This trend has been further accelerated by the COVID-19 pandemic, which has led to increased remote work and virtual events. As a result, there is a growing demand for video PaaS solutions that can help businesses and organizations create, manage, and distribute high-quality video content. For example, the use of video conferencing platforms like Zoom and Microsoft Teams has increased significantly, leading to a surge in demand for video PaaS solutions that can support these platforms.

Increasing adoption of cloud-based services:

Cloud-based services have become increasingly popular in recent years, as they offer several benefits over traditional on-premise solutions, including scalability, flexibility, and cost-effectiveness. The video PaaS market has also seen a shift towards cloud-based solutions, as businesses and organizations look for more efficient and cost-effective ways to manage their video content. For example, companies like Brightcove and Kaltura offer cloud-based video PaaS solutions that can be easily scaled up or down based on the customer's needs.

Rising adoption of video analytics:

Video analytics is an emerging trend in the video PaaS market, as businesses and organizations look to gain insights into their video content and better understand their audience. Video analytics can help companies track metrics like engagement, retention, and conversion rates, and use this information to optimize their video content. For example, Ooyala offers a video analytics platform that helps customers track viewer behavior and engagement across different devices and platforms.

Increasing use of AI and machine learning:

AI and machine learning are being increasingly used in the video PaaS market to improve video quality, personalize content, and automate processes. For example, Vidyard uses machine learning to analyze viewer behavior and optimize video content for engagement and conversion. Similarly, IBM Watson Media uses AI to automatically caption and translate video content in real-time, making it more accessible to a global audience.

Growing demand for video-based e-learning solutions:

The e-learning industry has seen significant growth in recent years, and video-based e-learning solutions are becoming increasingly popular. Video-based e-learning solutions offer several advantages over traditional classroom-based learning, including flexibility, accessibility, and engagement. As a result, there is a growing demand for video PaaS solutions that can help businesses and organizations create and distribute high-quality e-learning content. For example, Panopto offers a video platform that is specifically designed for e-learning, allowing educators to create and deliver engaging video-based lessons.

The leading market segments of Global Video PaaS Market

Based on vertical, the media and entertainment segment is currently the largest vertical in the Video PaaS market. This segment includes media and entertainment companies, such as movie studios, broadcasters, and streaming services, that use Video PaaS solutions to manage and distribute video content. The growth of this segment is being driven by the increasing demand for online video content, as consumers shift away from traditional TV and movie watching.

Key trends in the media and entertainment segment include:

• The growth of streaming services: Streaming services like Netflix, Amazon Prime Video, and Disney+ have disrupted the traditional entertainment industry, leading to a surge in demand for Video PaaS solutions that can support their streaming offerings.

• The rise of user-generated content: User-generated content has become increasingly popular on social media platforms like YouTube and TikTok, leading to the growth of Video PaaS solutions that can support the creation and distribution of user-generated content.

• The need for personalized content: With the rise of streaming services and user-generated content, there is a growing need for Video PaaS solutions that can deliver personalized content recommendations to users based on their viewing history and preferences.

• The importance of video analytics: As the volume of video content continues to grow, there is a growing need for Video PaaS solutions that can provide insights into user behavior, preferences, and engagement with video content.

Based on application, the Video Conferencing segment is currently the largest application in the Video PaaS market. Video conferencing refers to the use of video technology for virtual meetings and collaboration, allowing people to communicate in real-time through video and audio. The growth of this segment is being driven by the increasing adoption of remote work and the need for virtual communication tools.

Key trends in the Video Conferencing segment include:

• Hybrid Work Models: With the emergence of hybrid work models, where employees split their time between the office and remote work, there is an increasing demand for Video Conferencing solutions that can support both in-person and virtual meetings.

• Integration with other communication tools: Video Conferencing solutions are increasingly being integrated with other communication tools like email, chat, and calendar to provide a seamless and integrated communication experience.

• Cloud-based Video Conferencing: Cloud-based Video Conferencing solutions are gaining popularity due to their scalability, flexibility, and cost-effectiveness. These solutions enable businesses to scale their video conferencing capabilities based on their needs, without the need for significant upfront investments.

• Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are being integrated into Video Conferencing solutions to provide advanced features like speech-to-text transcription, real-time language translation, and virtual backgrounds.

Geographically, North America is currently the largest segment in the global Video PaaS market. This can be attributed to the presence of major Video PaaS vendors in the region, along with a high adoption of Video PaaS solutions in various industries such as media and entertainment, healthcare, and education. Additionally, North America has a highly developed IT infrastructure, which supports the adoption and growth of Video PaaS solutions.

The Asia-Pacific region is the fastest-growing segment in the Video PaaS market. This is due to the increasing adoption of video-based communication and collaboration tools in various industries, such as healthcare, education, and retail, along with the growing demand for live streaming and video-on-demand services. Additionally, the region has a large and growing population of internet users, which presents a significant opportunity for Video PaaS vendors to expand their customer base.

Europe is another significant segment in the Video PaaS market, with a high adoption of Video PaaS solutions in various industries, such as media and entertainment and healthcare. Additionally, the region has a strong focus on innovation and technology, which supports the growth of the Video PaaS market.

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The key players of the Global Video PaaS Market are:

Brightcove (USA), Kaltura (USA), Limelight Networks (USA), LivePerson (USA), Ooyala (USA), Panopto (USA), Qumu Corporation (USA), Vidyo (USA), Wowza Media Systems (USA), Ziggeo (USA), and Others.

Market Segmentation

Based on Deployment Model

• On-premise
• Cloud-based

Based on Applications

• Video Conferencing
• Live Streaming
• Video on Demand
• Video Analytics
• Others

Based on Vertical

• Healthcare
• Education
• Media and Entertainment
• Retail
• Banking and Financial Services
• Other End-users

Based on Region

• North America
> United States
> Canada
> Rest of North America

• Europe
> Germany
> United Kingdom
> Italy
> France
> Spain
> Rest of Europe

• Asia Pacific
> Japan
> India
> China
> Australia
> South Korea
> Rest of Asia Pacific

• Middle East & Africa
> UAE
> Saudi Arabia
> South Africa
> Rest of the Middle East & Africa

• South America
> Brazil
> Rest of South America

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