At 18.8% CAGR, Europe Video as a Service Market is Projected to be Worth US$ 4,529.47 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe video as a service market was valued at US$ 1,141.44 million in 2022 and is expected to reach US$ 4,529.47 million by 2030, registering a CAGR of 18.8% from 2022 to 2030. Technological advancements to revolutionize video as a service market and growing video marketing and selling trends are among the critical factor attributed to the Europe video as a service market expansion.

Technological giants across the world are highly engaged in developing and integrating new innovative technologies such as artificial intelligence and augmented reality, which fuels the adoption of advanced technologies in various industries such as healthcare, BFSI, IT & telecom, government, education, manufacturing, and other industries. AI technology is positioned at the core of the next-generation software technologies in the video as a service market. It predicts and delivers the information, enabling an efficient, fast, and personalized experience with customers and boosting employers' profitability. AI also helps users customize videos, live video conferencing anytime and anywhere, record video for future usage, and detect specified events for users. AI-based video as a service supports employers in their marketing activities by targeting the right customers at the right time. SpotCam Co., Ltd.; vCloud.ai; Comcast Cable Communications Management, LLC; and other developers focus on developing and implementing AI technology with cloud-based videos to streamline interactions between customers and service providers. The AI-based video as a service allows providers to serve customers at their convenience, thereby increasing customer satisfaction. In January 2022, Comcast Cable Communications Management, LLC launched a VideoAI service for content providers, operators, and advertisers. The VideoAI is a software-as-a-service (SaaS) that helps companies understand and analyze video (live and on-demand), audio, and closed captions for creating actionable metadata around content assets. VideoAI can also generate and manage new content, streamlining business operations and improving advertising efficiency. Thus, the integration of AI to revolutionize the dealer management business is likely to fuel the video as a service market growth in the coming years. Advancements in technology, coupled with the popularity of augmented reality and virtual reality, fuel the demand for video as a service among consumers. Thus, the advent of new innovative technologies is expected to create numerous opportunities for vendors to provide efficient and advanced video as a service to users in the coming years.

On the contrary, growing data privacy and security concerns hurdles the growth of Europe video as a service market.

Based on deployment mode, the Europe video as a service market is categorized into public cloud, private cloud, and hybrid cloud. The public cloud segment held 63.7% market share in 2022, amassing US$ 727.15 million. It is projected to garner US$ 2,847.73 million by 2030 to expand at 18.6% CAGR during 2022-2030.

In terms of industry vertical, the Europe video as a service market is categorized into IT & telecom, healthcare & life sciences, retail & e-commerce, BFSI, education, media & entertainment, government & public sector, and others. The IT & telecom segment held 22.0% share of Europe video as a service market in 2022, amassing US$ 251.05 million. It is projected to garner US$ 1,043.31 million by 2030 to expand at 19.5% CAGR during 2022-2030.

Based on country, the Europe video as a service market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 26.9% share of Europe video as a service market in 2022. It was assessed at US$ 307.50 million in 2022 and is likely to hit US$ 1,325.21 million by 2030, exhibiting a CAGR of 20.0% during 2022-2030.

Key players operating in the Europe video as a service market are Cisco Systems Inc, Zoom Video Communications Inc, Microsoft Corp, Amazon Web Services Inc, Avaya Holdings Corp, Google LLC, Adobe Inc, RingCentral Inc, Dekom AG, and BlueJeans, among others.

• In April 2023, Microsoft Corp. and Epic that announced they are expanding their long-standing strategic collaboration to develop and integrate generative AI into healthcare by combining the scale and power of Azure OpenAI Service1 with Epic's industry-leading electronic health record (EHR) software. The collaboration expanded the long-standing partnership, which includes enabling organizations to run Epic environments on the Microsoft Azure cloud platform.
  
  
• In July 2020, an Amazon.com company announced the general availability of Amazon Interactive Video Service (Amazon IVS), a new fully managed service that makes it easy to set up live, interactive video streams for a web or mobile application in just a few minutes.
  
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