The enterprise video market has been forecast to increase at a compound annual growth rate (CAGR) of 26% over the next five years, increasing from a value of approximately $11.2 billion at the beginning of 2013, to a total of $35.6 billion by 2018.
The increasing adoption of cloud technologies and BYOD culture are the key driving forces within the enterprise video market. As a result, the enterprise video industry is expected to grow rapidly in the coming years.
The globalisation of companies has amplified the need for effective communication system across all regions and verticals.
Enterprises have been witnessing a growing need for video interfaces in communication purposes, due to its ability to improve productivity and outreach.
The latest advancements in video technologies are high efficiency video codec, alter-HD, web real-time communication, search, indexing, captioning, transcoding and aggregation.
These technologies are enriching the video delivery among enterprises. Though these technologies are still in nascent phase, but it is expected to grow at a rapid rate in the coming years.
With the advent of new technologies, there has been advent of advanced video platforms. These new platforms involve the use of high definition content, smart cloud and social data analytics, immersive telepresence and unified communication systems.
There is an inclination for various hardware, software and services vendors to provide solutions, involving ingestion, annotation, cataloguing, storage, retrieval and distribution of video content in market.
Key players currently leading the way in the enterprise video market include Cisco Systems, Avaya, Polycom, Kontiki and AVI-SPL, Inc.
For more information on the enterprise video market, see the latest research: Enterprise Video Market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.