New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enterprise Streaming Media Global Market Report 2023" - https://www.reportlinker.com/p06466425/?utm_source=GNW
, Amazon.com Inc., Tencent Holdings Ltd., Kaltura, Vidyard, Polycom, Cloudfare Inc., and Cincopa.
The global enterprise streaming media market is expected to grow from $29.43 billion in 2022 to $34.90 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The enterprise streaming media market is expected to reach $68.27 billion in 2027 at a CAGR of 18.3%.
The enterprise streaming media market includes of revenues earned by entities by providing media services such as live webcasting, media management, media delivery, media analytics, and security and privacy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Enterprise streaming media refers to the process of supplying video or music content of an organization in compressed form over the internet and playing immediately on a user’s device, rather than being saved on the device’s hard disc or solid-state drive. It is used to provide versatile and scalable enterprise media distribution solutions.
North America was the dominate region in the enterprise streaming media market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of solutions for enterprise streaming media are video conferencing, video content management, webcasting, and web conferencing.Video conferencing refers to the live, visual connection between two or more remote parties over the internet that simulates a face-to-face meeting.
The various services include professional service, managed service, support, and maintenance that are deployed through on-premises and cloud deployment.These are used in different applications such as team collaboration and knowledge transfer, corporate communication, training and development, marketing, and others.
These are used in various sectors such as banking, financial services & insurance (BFSI), healthcare, manufacturing, government, it and telecom, media and entertainment, retail, and others.
The Increasing use of video conferencing solutions is expected to propel the growth of the enterprise streaming media market going forward.Video conferencing is a live video-based meeting between two or more people in different locations that allows multiple people to meet and collaborate face to face long distance by transmitting audio, video, text, and presentations in real-time through the internet.
Enterprise streaming media is used in video conferencing to manage video content and video communications for a larger business or organization, which enables them to reach out to potential and existing clients outside of the business or organization.For instance, in January 2023, according to Microsoft Corporation, a US-based technology corporation, During the pandemic, Microsoft Teams (a proprietary business communication platform developed by Microsoft) users increased dramatically, from 20 million in November 2019 to 44 million in March 2020 and 75 million by April.
Further, Microsoft Teams has 270 million active users in 2020, making it by far the most widely utilized business communication tool, outpacing Slack’s 18 million users . Therefore, the increasing use of video conferencing is driving the growth of the enterprise streaming media market.
Product innovation is a key trend gaining popularity in the enterprise streaming media market.Major companies operating in the enterprise streaming media market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in February 2023, Brightcove Inc, a US-based software company that produces an online video platform, introduced Brightcove Communications Studio, a video streaming solution developed to assist HR and communications professionals in developing stronger relationships and engaging with internal stakeholders.Brightcove Communications Studio is a branded and seamless solution for reaching and engaging stakeholders both internally and externally.
Communications Studio delivers a consumer-centric streaming experience for stakeholders to overcome common internal communications concerns, from onboarding workers to disseminating company-wide updates and training.
In August 2021, Microsoft Corporation, a US-based technology corporation acquired Peer5 Inc. for an undisclosed amount. Through this acquisition, Microsoft Corporation aims to improve its capabilities in teams to deliver secure, high-quality, large-scale live video streaming with optimum network performance to provide high-quality video streaming and broadcasting for its clients. Furthermore, the Peer5 solution will enable Microsoft to deliver a first-party service to customers to assist them to speed the buying process and customer support, thereby boosting their enterprise IT management experience. Peer5 is a US-based company that provides enterprise video streaming services.
The countries covered in the Enterprise Streaming Media market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The enterprise streaming media market research report is one of a series of new reports that provides enterprise streaming media market statistics, including enterprise streaming media industry global market size, regional shares, competitors with an enterprise streaming media market share, detailed enterprise streaming media market segments, market trends, and opportunities, and any further data you may need to thrive in the enterprise streaming media industry. This enterprise streaming media market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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