A fresh commerce and business study by
Transparency Market Research (TMR) has observed that as small and medium
enterprises (SMEs) mushroom across the world, the vendors who are ahead
of the curve in the global enterprise video content management market
will continue to find vast new opportunities, especially when they are
willing to expand into the emerging economies in Asia Pacific. For
instance, about a year ago, Panopto partnered with Ramp to provide
businesses and universities an optimized mode of streaming video to
large and geographically distributed audiences.
Around the same time, Qumu collaborated
its video content solutions with V-Cube’s conferencing system solutions
to cater to targeted audiences in Japan and rest of the Asia Pacific.
The report identifies IBM Corporation, Microsoft Corp., Adobe Systems,
Inc., Qumu, Inc., Kaltura Inc., Panopto Inc., Brightcove, Inc.,
MediaPlatform Inc., Sonic Foundry, Inc., and VBrick Systems Inc. as some
of the prominent companies currently operating in the global enterprise
video content management market.
As per the estimations of the TMR report,
the demand for enterprise video content management, across the globe,
will increment at an impressive CAGR of 10.5% during the forecast period
of 2017 to 2022. By the end of the forecast period, 2022, the revenue
in this market is projected to be worth US$13,309.0 mn, which is
substantially up from its evaluated valuation of merely US$8,070.4 mn in
2017.
In the near future, most of prominent
companies are expected to adopt the latest technology pertaining to
communication and lure newer customers. The report has also noted that
security of confidential information is turning into a glaring issue and
several market players will aim to fix this in order to consolidate
their positions, primarily by focusing on hybrid and on-premises
architectures to secure video data on-premises.
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Based on component type, the global
enterprise video content management market currently gains maximum
demand for software platform, a segment that generated a revenue of
US$5,811.3 mn alone in 2017, which was nearly 72% of the overall demand.
This particular segment is expected to sustain its strong demand until
2022 too, when it is estimated to be worth US$9,286.6 mn, serving 69.8%
of the demand as opposed to other segment of support services.
Geographically, the TMR report rates North America as most lucrative
region. The North America enterprise video content management market is
projected to be worth US$4,293.6 mn by 2022, expanding at a CAGR of 9.6%
during the forecast period of 2017 to 2022.
Rising adoption of cloud technology,
growing awareness regarding the benefits of video as a tool that can
enhance communication and collaboration across enterprise on the real
time, growing penetration of high-speed internet, and increasing demand
for video streaming are some of the key factors augmenting the demand in
the global enterprise video content management market. Almost all SaaS
and hybrid vendors are offering stronger security as cloud-based
platforms gain adoption. These solutions aids enterprises to improve
their efficiency by enabling secure information communications, capture
and manage video content, and document processing. Features such as
webcam, audio recordings, creation of screen, and media publication
helps the corporate organizations to access their important data from
remote locations on their smartphones and tablets.
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