According to a new industry research information published by Credence Research “Enterprise Video(Video Conferencing, Web Conferencing, Webcast & Webinars, Video Streaming) industry – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global enterprise video industry is estimated to expand with a CAGR of 11.2% from 2016 to 2023.

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Industry Insights:

Enterprise video solutions are different audio/video communication techniques designed for collaboration that enable one-way and two-way communication. In the past several years, enterprise video solutions have witnessed exponential growth among the corporate enterprises as well as personal use. Due to rising competition amidst the businesses worldwide, the organizations seek reliable and scalable communication solutions so as to accelerate decision making and other processes. As a result, different video solutions such as video conferencing, webcasting, web conferencing and video streaming have evolved over the period of time.

The enterprise video solutions industry is highly driven by the rising adoption of advanced video solutions by the corporate enterprises across different sectors. Business organizations have worldwide locations making it difficult for the individuals to coordinate and communicate among themselves. Enterprise video solutions such as video conferencing enables two-way communication among the people irrespective of their location. This largely helps in saving overheads and time required for travelling. Another major factor propelling the industry growth is the rise in adoption of internet services and communication technology. In various developed countries, internet infrastructure is highly developed enabling effective and reliable collaboration.

Video solutions are available both; on-premise set-up as well as cloud-based. With the rising shift towards BYOD (bring your own device) concept, business enterprises are increasingly turning towards cloud-based video solutions. This helps the enterprise communicate with their employees irrespective of their location. As a result, the industry is witnessing a paradigm shift towards cloud-based solutions due to their low costs as compared to the on-premise deployment.

Competitive Insights:

The global enterprise video industry is highly competitive in nature with industry players focusing on establishing presence across different modes of communication. The enterprise video industry is highly technology driven making the overall industry competitive in nature. Companies focus on providing cloud-based solutions with better scalability in order to maintain their competitive edge in the industry. Major companies dominating the industry include Alcatel–Lucent, Cisco Systems, Inc., IBM Corporation, Avaya, Inc., Huawei Technologies Co., Ltd., Polycom, Inc. and Verizon Communications, Inc. among others.

Due to rising advancement in the video formats and communication technologies, consumers now demand high-definition video collaboration with better scalability. Simultaneously, due to presence of significant number of players in the industry competitive pricing too becomes a concern for the industry players. Thus, most of these players focus on offering viable, scalable and cost-effective solutions in order to sustain in the industry.

Key Trends:

Shift towards cloud-based enterprise video solutions
Providing application specific video solutions for enterprises
Introduction of high quality enterprise video solutions comprising HD video service
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