At 17.6% CAGR, North America Video as a Service Market is Projected to be Worth US$ 5,187.43 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America video as a service market was valued at US$ 1,422.48 million in 2022 and is expected to reach US$ 5,187.43 million by 2030, registering a CAGR of 17.6% from 2022 to 2030. Growing video marketing & selling trends and increasing adoption of remote working model are among the critical factor attributed to the North America Video as a Service market expansion.

The adoption of video as a service solution helps marketers and sellers attract customers across the world. According to a NogenTech, in May 2023, ~91% of marketers use video content for advertising their products or services. The video marketing and selling techniques support marketers/sellers in creating awareness among their customers about the latest features, benefits, and quality of products. Marketers can also save these videos for future usage or delivery as per their customer's demand. Similarly, the technique also helps the audience to understand the product more clearly before making an investment, which increases the demand and adoption of video as a service among users. Video as a service offers the marketer or seller the benefit of using shared infrastructure provided by the VaaS company, which reduces the additional cost of infrastructure, service maintenance, and software updates. Players operating in the video as a service market invest in video conferencing-related tools to strengthen their presence and attract customers in the North America market. These players adopt 5G technology to offer high-quality cloud-based video services, improve low to zero latency, and enhance communication between marketers/sellers and consumers. Additionally, the growing demand for video conferencing tools across sellers is anticipated to boost the North America video as a service market growth during the forecast period.

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

Based on deployment mode, the North America video as a service market is categorized into public cloud, private cloud, and hybrid cloud. The public cloud segment held 66.2% market share in 2022, amassing US$ 942.16 million. It is projected to garner US$ 3,405.71 million by 2030 to expand at 17.4% CAGR during 2022-2030.

In terms of industry vertical, the North America 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 24.7% share of North America Video as a Service market in 2022, amassing US$ 351.10 million. It is projected to garner US$ 1,305.95 million by 2030 to expand at 17.8% CAGR during 2022-2030.

Based on country, the North America video as a service market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.1% share of North America Video as a Service market in 2022. It was assessed at US$ 1,195.73 million in 2022 and is likely to hit US$ 4,426.62 million by 2030, exhibiting a CAGR of 17.8% during 2022-2030.

Key players operating in the North America 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 November 2022, Cisco and Microsoft Corp. announced at Microsoft's annual Ignite conference a new partnership that will provide customers with more choice. In the first half of 2023, Cisco and Microsoft will soon offer the ability to run Microsoft Teams natively on Cisco Room and Desk devices Certified for Microsoft Teams, with the option of Teams as the default experience.
  
  
• In June 2023, Sony Electronics Inc. announced that Zoom Video Communications Inc. will be coming to BRAVIA TVs, compatible with BRAVIA CAM1. This partnership will allow users to easily connect with friends, family, and colleagues for video calls and meetings from the comfort of their living room. Sony's BRAVIA is the first TV brand to support the Zoom for TV app on Google Play Store.
  
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