At 15.1% CAGR, South & Central America Video as a Service Market is Projected to be Worth US$ 619.09 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America video as a service market was valued at US$ 200.51 million in 2022 and is expected to reach US$ 619.09 million by 2030, registering a CAGR of 15.1% from 2022 to 2030. Growing video marketing & selling trends and increasing adoption of remote working model are among the critical factor attributed to the South & Central 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 South & Central 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 South & Central America market video as a service market growth during the forecast period.

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

Based on deployment mode, the South & Central America video as a service market is categorized into public cloud, private cloud, and hybrid cloud. The public cloud segment held 72.3% market share in 2022, amassing US$ 144.97 million. It is projected to garner US$ 460.49 million by 2030 to expand at 15.5% CAGR during 2022-2030.

In terms of industry vertical, the South & Central 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 25.9% share of South & Central America video as a service market in 2022, amassing US$ 51.94 million. It is projected to garner US$ 161.66 million by 2030 to expand at 15.2% CAGR during 2022-2030.

Based on country, the South & Central America video as a service market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 65.0% share of South & Central America video as a service market in 2022. It was assessed at US$ 130.31 million in 2022 and is likely to hit US$ 419.23 million by 2030, exhibiting a CAGR of 15.7% during 2022-2030.

Key players operating in the South & Central America video as a service market are Cisco Systems Inc, Microsoft Corp, Amazon Web Services Inc, Avaya Holdings Corp, Google LLC, Adobe Inc, RingCentral Inc, and BlueJeans, among others.

• In July 2022, Cisco launched a new Webex Wholesale Route-to-Market (RTM) for Service Provider partners to address the evolving needs of SMBs. The new sales model includes a single commercial agreement with each partner and a self-service platform for Service Providers to deliver managed services for Webex, as well as the agility, scalability and flexibility to create their own co-branded offers.
  
  
• 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.
  
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