VAAS Market

VaaS market Share was valued at USD 3926 million in 2020 and is expected to register a CAGR of 8.4% during the forecast period.

Introduction of the VaaS Market Report

Video as a Service (VaaS) is the transfer of multiparty or point-to-point video conferencing capabilities. The video stream is transported over an IP network by a managed service provider. The online video conferencing service must accommodate the infrastructure needed for linked communication. The proprietor also maintains the communication channel between all endpoints or parties associated.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Video as a Service market include rising demand for real-time and remote access video services, approval of cloud-based services by enterprises, extending number of internet users around, and lower total expense of ownership. Business cloud service platforms are complex to install and require a higher cost of ownership. Earlier, organizations had to designate infrastructure teams for managing their cloud infrastructure on their personal servers. It empowers organizations to decline investments in building the infrastructure as it is handled by managed Services Providers (MSPs). Cloud vendors have their service platforms extended on their own servers. Firms get their data onto their platforms and have to pay only for the support they require to use the video conferencing services. By using shared VaaS infrastructure, companies can reduce the Total Cost of Ownership (TCO) and can save money on infrastructure, commissioning, and support costs. This software not only creates a more collaborative meeting culture in the company but promotes quick decision-making and improves the ability to collaborate globally.

Owing to the outbreak of novel Coronavirus, various countries follow stringent lockdowns, shutdowns, and mobility stipulations to avoid the spread of the virus. The VaaS market has been observing a positive influence as the use of video conferencing for collaboration and connection has increased by more than 100%.

Restraint in the VaaS Market

However, the security and privacy of the video content shared across various forums is a major restraining factor for the growth of VaaS market size. Furthermore, businesses are also concerned about copyright and Digital Rights Management (DRM) due to the possibilities of perversion, information leakages, and data breaches. In 2019, the healthcare, finance, manufacturing, information, and public sectors observed the highest number of data violation incidents.

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Application – Segment Analysis

Based on the Application, the Marketing and Client Engagement segment is expected to grow at a higher CAGR during the forecast period. With the help of video conferencing for retailing purposes, companies can easily captivate audiences, communicate with them more efficiently, and expand their scope. It helps in strengthening customer engagement by empowering more communication with the clients, thus allowing them to have a better relationship with the company.

Vertical – Segment Analysis

Based on the Vertical, the BFSI segment is expected to grow at a higher CAGR during the forecast period. VaaS solutions allow Banking, Financial Services and Insurance (BFSI) enterprises to modify branches into sales and service channels without hiring additional onsite staff. These solutions facilitate magnified internal communication, knowledge sharing, and investor relations. Live or on-demand videos enable these companies to work out activities regarding executive messaging and policies, investor relations, external communication, and collaborations among their geographically scattered teams.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is projected to dominate the market during the forecast period. The expanding use of video surveillance in educational institutions, increased choice of thermal cameras and a rise in wireless IP surveillance are the factors which are majorly accountable for the growth of the market. Moreover, White-glove concierge services which is a high touch full-service video conferencing, is driving the market in Asia-Pacific, especially in China and Australia. These services usually provide endpoint management, run test calls, parallel technical issue resolution with endpoint corporations or service agents, and open trouble tickets with the company’s network team. For instance, Huawei in China provides end to end support and guidance for high video experience, and as for data traffic control, traditional QoS method cannot solve the problem of data congestion when the need for the same type of video soars. So, networks control individual users and their data flows in order to efficiently manage traffic and assure that the users who are connected have a better video experience. China’s three largest video operators, all of which are blended into larger tech giants, are by far the biggest players in the Asia-Pacific market, along with YouTube and Facebook, which increases the growth of the video as a service market share.

Top Market Players

Various notable players operating in the market include Microsoft, Zoom Video Communications, Inc, Cisco, Adobe, Avaya Inc., Google, Amazon Web Services, Inc., Plantronics, Inc., LogMeIn, Inc., RingCentral, Inc., among others. 

Key Developments:

• • In 2020, Zoom Video Communications, Inc partnered with Lumen to enable Lumen to offer Zoom as part of its Unified Communications and Collaboration Suite. This will improve the user activity and will render enhanced customer reach for Zoom.
  • In 2020, Avaya Inc. and VExpress, an Australian ICT distributor, contracted a Master Agent agreement to enable channel associates to speed-up the operational restoration efforts of Australia’s midmarket businesses and SMEs with the help of cloud communications and collaboration solutions from Avaya.
  • In 2019, Cisco procured Voicea, a meeting and voice specialist, for Webex ‘game-changer’. With Voicea’s technology, Cisco would intensify its Webex portfolio of products with a robust transcription service to expand collaboration in meetings and calls. Voicea’s technology would be a game-changer for Cisco Webex consumers to encounter more prolific and actionable meetings.

Segments covered in the Report:

The global VaaS market has been segmented on the basis of Application, Cloud Deployment Mode, Vertical, and regions. Based on Application, the market is segmented into Corporate communications, Training and development, and Marketing and client engagement. Based on Cloud Deployment Mode, the market is segmented into Public cloud, Private cloud and Hybrid cloud. Based on Vertical, the market is segmented into BFSI, It and ITeS, Healthcare and life sciences, Education, Media and entertainment, Government and Public sector, Retail and consumer goods and Other. 

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Key questions answered in this research report:

• • At what pace is global VaaS market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in VaaS market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global VaaS market?
  • Which Application generated maximum revenues in 2019 and identify the most promising Application during the forecast period?
  • What are the various Cloud Deployment Mode areas of global VaaS market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global VaaS Market by Application

• • Corporate communications
  • Training and development
  • Marketing and client engagement

Global VaaS Market by Cloud Deployment Mode

• • Public cloud
  • Private cloud
  • Hybrid cloud

Global VaaS Market by Vertical

• • BFSI
  • It and ITeS
  • Healthcare and life sciences
  • Education
  • Media and entertainment
  • Government and Public sector
  • Retail and consumer goods
  • Other

Global VaaS Market by Region

• • North America VaaS Market (Option 1: As a part of the free 25% customization)
    • North America VaaS Market by Application
    • North America VaaS Market by Cloud Deployment Mode
    • North America VaaS Market by Vertical
    • US VaaS Market All-Up
    • Canada VaaS Market All-Up
  • Europe VaaS Market (Option 2: As a part of the free 25% customization)
    • Europe VaaS Market by Application
    • Europe VaaS Market by Cloud Deployment Mode
    • Europe VaaS Market by Vertical
    • UK VaaS Market All-Up
    • Germany VaaS Market All-Up
    • France VaaS Market All-Up
    • Spain VaaS Market All-Up
    • Rest of Europe VaaS Market All-Up
  • Asia-Pacific VaaS Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific VaaS Market by Application
    • Asia-Pacific VaaS Market by Cloud Deployment Mode
    • Asia-Pacific VaaS Market by Vertical
    • China VaaS Market All-Up
    • India VaaS Market All-Up
    • Japan VaaS Market All-Up
    • Rest of APAC VaaS Market All-Up
  • RoW VaaS Market (Option 4: As a part of the free 25% customization)
    • RoW VaaS Market by Application
    • RoW VaaS Market by Cloud Deployment Mode
    • RoW VaaS Market by Vertical
    • Brazil VaaS Market All-Up
    • South Africa VaaS Market All-Up
    • Saudi Arabia VaaS Market All-Up
    • UAE VaaS Market All-Up
    • Rest of world (remaining countries of the LAMEA region) VaaS Market All-Up

Major Players Operating in the VaaS (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft
  • Zoom Video Communications, Inc
  • Cisco
  • Adobe
  • Avaya Inc.
  • Google
  • Amazon Web Services, Inc.
  • Plantronics, Inc.
  • LogMeIn, Inc.
  • RingCentral, Inc.