Enterprise Video Market Worth $33.72 Billion By 2027

The global enterprise video market size is expected to reach USD 33.72 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The growing demand from organizations to enhance collaboration between internal and external stakeholders, and maximize customer engagement has resulted in increased adoption of solutions such as video conferencing and webcasting, drive the market growth. The rise in the number of online video viewers is anticipated to provide lucrative opportunities to the market players, as marketers are focusing on the promotion of brands through videos. In 2016, there were about 700 million video viewers, which has risen to 2.6 billion in 2019. The marketers promote brands of their clients through demos, events, explainers, and customer testimonials/case studies, among others. Moreover, proliferation of 4G-enabled mobile devices and rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.

GUI (Graphical User Interface) concept.

The synergy of enterprise video and digital signage has enabled companies to improve brand awareness, product awareness, and customer engagement that is anticipated to drive the growth of the market. The use through signage and kiosks at branch locations is helping banks create differentiation of business strategies and increase customer value, while increasing the promotion and uptake of its products and services such as credit cards and loans, among others. Furthermore, various venture capital firms are providing funding to various start-ups involved in the development of these solutions such as Vbrick, Pexip ASA, and Grabyo, among others, which is impacting the market growth positively. For instance, in June 2018, Morgan Stanley Expansion Capital provided funding worth USD 20 million to Vbrick, a developer and provider of enterprise video software for the corporate sector.

Various companies, such as Microsoft Corporation; IBM; and Cisco Systems, Inc. are emphasizing the development of live streaming applications, which is anticipated to boost the market growth. For instance, in October 2019, IBM launched its IBM Video Streaming platform that allows users to broadcast multiple live-streamed contents. The app offers organizations to take full control over the content including transcription, ingestion, storage, and metadata content management. Governments in response to the outbreak of the COVID-19 pandemic are focusing on providing funds to law enforcement agencies in adopting these solutions for remotely carrying out their operations. For instance, in April 2020 the Ohio Supreme Court announced a funding worth USD 4 million to high courts for purchasing video conferencing systems.

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Further key findings from the study suggest:

  • The incumbents in the gaming industries such as Rovio Entertainment Corporation; Activision Publishing, Inc.; and Electronic Arts Inc.; are increasingly focusing on the adoption of social media and content sharing platforms for targeting potential customers. This is expected to enhance the growth of the video content management segment
  • The reduction in costs provided by managed service providers is anticipated to boost the growth of the managed services segment. These services reduce the recurring in-house costs by 30 to 40%
  • Owing to the growing emphasis of cloud computing companies such as Amazon Web Services, Inc. and Microsoft Corporation on establishing robust security and compliance standards, the cloud segment is anticipated to grow significantly
  • The marketing and client engagement segment is anticipated to register the highest CAGR on account of the increasing demand for influencers from various advertising and marketing firms
  • In July 2019, Amazon Web Services, Inc. included Dynamic Adaptive Streaming over HTTP capability in its Amazon Kinesis Video Streams that will enable developers to playback their ingested streams using HTTP-based media streaming protocol. Such initiatives are expected to drive the growth of the adaptive streaming delivery technique segment
  • The SME segment is anticipated to expand at the highest CAGR over the forecast period on account of increasing adoption of freemium-based solutions such as Zoom Video Communications, Inc.
  • Various government agencies including the U.S. Department of Health and Healthcare U.K., among others are focusing on holding webcasts such as NYS Health Research Science Board Business Meeting & Public Hearing held in May 2020. It is expected to drive the growth of the healthcare segment

Millimeter Wave Sensors & Modules Market Worth $671.0 Million By 2027

The global millimeter wave sensors and modules market size is estimated to reach USD 671.0 million by 2027, expanding at a CAGR of 37.7% from 2020 to 2027, according to the new report by Grand View Research, Inc. The MMW (millimeter wave) sensors and modules are beneficial in extreme weather and low visibility conditions, such as fog, smoke, thunderstorm. These devices perform relatively better than infrared-based or microwave-based sensor technologies.

The MM wave sensors and modules are extensively used in applications across various sectors, such as military and defense, telecommunication, automotive, security, and healthcare. Increasing demand arriving from all these industrial and commercial sectors is further expected to catapult the market at a considerable pace. The usage of wireless and mobile networking equipment has risen drastically in the last few years. Increasing number of internet-driven applications and solutions is resulting in an augmented need for large amount of data transfer among various devices in the mobile connectivity ecosystem. This is expected to develop high-speed data transfer devices, wherein millimeter-wave modules and sensors are extensively used.

Major application areas of these devices include telecommunication, military and defense, security services, and medical and healthcare. Recent developments and continuous research and progress in the telecom industry are likely to lead to the evolution of the 5G technology.

Millimeter wave sensors and modules are anticipated to play a vital role in the development of fifth-generation technology owing to the need for higher bandwidth. The 5G technology is predicted to emerge in the coming years and the market is likely to witness its significant adoption. Eventually, demand for MMW sensors and modules is expected to boost, thus propelling the overall market growth, particularly across the telecom industry.

Increased government funding and initiatives, coupled with R&D activities carried out by the public and private sectors, are driving the market. E-band frequencies have extensive applications in the telecommunication sector and the segment is anticipated to generate the largest revenue over the forecast period on account of its growing applications in the sector. Therefore, the overall market is poised to witness significant growth over the forecast period.

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Further key findings from the study suggest:

  • North America accounted for the largest market share in 2019 owing to the early adoption of the MMW technology
  • Based on frequency band, the E-band segment is anticipated to witness the fastest growth over the forecast period owing to its extensive adoption in telecom applications
  • Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing urbanization and competitive rivalry amongst the telecom service providers for offering superior quality internet and other related services to expand customer base.

Webcam Market Size Worth $11.60 Billion By 2027

The global webcams market size is expected to reach USD 11.60 billion by 2027, expanding at a CAGR of 8.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. Webcams can be connected to laptops and desktops for real-time recording at any given location. Growing need for security and surveillance systems to capture intruders, trespassers, and miscreants in commercial as well as residential premises is expected to drive the product demand over the forecast period.

These devices are widely being deployed in the corporate sector for video conferencing and telecommuting for more accessible communication with counterparts at distant locations. Hence, key market participants are emphasizing on new model launches and technological advancements to cater to the demand for devices with higher recording, streaming, microphone, and zoom quality.

For instance, in December 2019, Logitech launched a 4K Ultra HD webcam for Mac Pro with Right Light 3 technology, enabling automatic adjustment of lightening conditions for better video quality. Moreover, emergence of advanced video cameras with the capability of connecting the entire conference of people to a single user is propelling market growth.

Furthermore, multiple attributes of webcam technology have extended its scope in the healthcare sector to assist the patients suffering from chronic diseases and emergency situations. These devices are highly being utilized for the telehealth consulting services as they provide simplified connectivity between patients and healthcare professionals through video conferencing on mobile devices or laptops.

Owing to the COVID-19 pandemic, governments of the profoundly affected countries have already announced national lockdowns and are mandating the public to maintain social distancing. Webcams are being used for communication and live virtual events due to in-home isolation worldwide for minimizing the social and economic impact of the outbreak. For instance, leaders of the G20 countries held a video conference summit for a discussion on preventive measures to be undertaken to reduce the impact of the current global pandemic.

Furthermore, governments are using Unmanned Aerial Vehicles (UAVs) for surveillance purposes as mobility restrictions are tightening worldwide owing to the COVID-19 pandemic. For instance, the State Police of Western Australia announced the deployment of drones for remotely monitoring recreational sites to ensure if people are following social distancing guidelines. In the light of the current scenario, market demand is expected to boost over the forecast period.

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Further key findings from the report suggest:

  • By technology, analog webcams accounted for over 60.0% share of the total revenue in 2019
  • Based on distribution channel, e-commerce is expected to expand at the highest CAGR of 11.9% in terms of revenue from 2020 to 2027
  • In 2019, North America accounted for the largest revenue share of over 35.0%
  • Asia Pacific is expected to witness a significant increase in the product demand during the forecast period.

MPLS IP VPN Services Market Is Expected To Reach USD 46.26 Billion by 2020

The Global MPLS IP VPN Services Market is expected to reach USD 46.26 billion by 2020, according to a new study by Grand View Research, Inc. Despite considerably maturing over the last five years, the market is poised for high growth on account of appreciable growth potential exhibited by managed MPLS IP VPN services. Enterprises have increasingly started incorporating MPLS IP VPN services for leveraging benefits such as cost minimization and performance maximization. The market is expected to stay buoyant as a direct consequence of declining ATM/frame relay implementation.

Convergence of video, voice, and data on a single platform from different sources and the ability to provide scalable bandwidth is expected to encourage MPLS IP VPN services adoption. As MPLS supports multipoint full-mesh connectivity, organizations adopting cloud computing to address growing concerns pertaining to network security and IT costs can easily manage multiple locations in their network.

Stringent regulations pertaining to the use of VPN for personal applications, especially in the Middle East countries and China are expected to pose a challenge to the MPLS IP VPN services market growth over the forecast period.

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 Further key findings from the study suggest:

  • IT departments of institutions such as banks and government offices wishing to maintain control over their networking and routing related decision in order to address security issues have started preferring layer 2 VPN (L2VPN) services. IT departments of enterprises which opt for outsourcing their networking and routing decisions usually prefer layer 3 VPNs (L3VPNs). Multi-branch organizations have increasingly adopted hybrid L2VPN L3VPN services based on specific requirements at individual locations.
  • As MPLS offers a high Quality of Service (QoS) which is the primary requirement for VoIP, video conferencing is expected to emerge as a key application area over the forecast period. Substantial bandwidth offered by MPLS IP VPN services between the user’s equipment and the service provider’s network helps suffice VoIP’s requirements. Audio conferencing is projected to be a fast growing and profitable application sector.
  • North America and Asia Pacific constituted key regional MPLS IP VPN services markets in 2013 on account of the presence of prominent market players satiating the needs of an increasing consumer base. Influx of international carriers in the North American market to serve their existing MNC clients has favorably impacted the regional MPLS IP VPN services market growth.
  • Competitive solutions particularly tailored for MNCs having relatively smaller international presence are offered by prominent international MPLS IP VPN services operators such as AT&T, BT Global Services, Verizon, and Orange Business Services. After penetrating major regional markets, service providers focus on investing funds towards building backbone networks for supporting MPLS. The success of emerging MPLS IP VPN services market players hinges on establishing technical support partnerships and Network-To-Network Interface (NNI) relationships with an emphasis on customer service and flexible service offerings.

Mobile VoIP Market Size To Reach $145.76 Billion By 2024

The global mobile VoIP market is expected to reach USD 145.76 billion by 2024, according to a new report by Grand View Research, Inc. The transition to packet-switched networks from circuit switch networks is propelling the growth of the mobile VoIP market. 

The deployment of 4G/LTE is one of the key drivers boosting industry growth. The increase in the capability of wireless bandwidth services and growing investment by telecom operators in the deployment of a high-speed network is expected to enhance the usage of these services over the forecast period. Moreover, mobile VoIP service eliminates the need for voice plans, text add-ons, and achieves flexibility in making unlimited, inexpensive, or free calls. 

The competition in the mobile VoIP market is intense as several new service providers are focusing on increasing their market presence by offering low-cost services enabling the use of internet-based communication. Mobile VoIP is highly dependent on the reliable high-speed network. However, limited network speed results in interrupted and disruptive communication, which is expected to challenge industry growth over the forecast period.

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Further key findings from the study suggest:

  • The video conferencing segment is estimated to grow at a CAGR of over 20% from 2016 to 2024. The need for scalable communication methods and growing globalization is driving the demand for video conferencing market. The increasing trend of Bring your Own Device (BYOD) is also contributing to the demand for video conferencing in the corporate sector.
  • The Android OS is estimated to be the dominating segment and is expected to account for over USD 90 billion by 2024. The free availability of this OS is attracting creators for developing low-cost smartphones. Moreover, Android is an open platform, which is enabling application developers to modify the OS as per their needs thereby, boosting the demand for Android-based devices.
  • The European mobile VoIP industry is anticipated to remain the largest over the forecast period. The region is expected to witness significant growth owing to the increasing smartphone users using instant messaging services such as Facebook and WhatsApp. The number of monthly active Facebook users in the region increased from 233 million in September 2015 to 240 million in December 2015.
  • Asia Pacific is expected to be the fastest-growing region, rising at a CAGR of over 23% from 2016 to 2024. Increase in business activity, small and medium enterprises, and rise in start-ups are driving the growth in Asia Pacific market.
  • Key players in the mobile VoIP market include Microsoft Corporation, Facebook Inc., and Vonage Holdings Corporation. The competition in providing VoIP offerings is intense, which is enabling the service providers to offer differentiated products and services.