The increasing popularity of distance education modules has led to the expansion of the enterprise video market to meet the diversified educational requirements across the globe, according to market research publisher MicroMarket Monitor.
The Asia-Pacific enterprise video market is expected to reach $13.6 billion by 2019 from $4.4 billion in 2014, at a CAGR of 29.8% from 2014 to 2019. The growth has in turn resulted in stiff competition in the market; hence, some of the submarkets of this sector, such as the corporate communication channel, experienced high growth in 2014 in the region.
Growth in the enterprise video market is attributed to the increasing influx of students in the region who come from across the globe seeking cost effective, quality education.
Technological advancements in enterprise video technologies — including high efficiency video codec, alter-HD, Web real-time communication and other emerging technologies — are enriching the overall video delivery experience.
The enhanced efficiency of these systems has led to increased adoption in the region, thus fueling the growth of the market, according to MicroMarket Monitor.
The industry verticals that are projected to contribute to the growth of the enterprise video market in Asia-Pacific include media and entertainment, telecommunication and IT, academia and government. The academia and government segments of the market are expected to maintain high growth during the forecast period.
Also, enterprise video is helping enterprises to establish seamless mobility among workforce and promote the Bring Your Own Device (BYOD) culture. The major reason for the growth of the market is the increasing demand of video conferencing and streaming services among various enterprises.
Presently, these enterprises are dealing with greater device complexity, more application, and rise in the number of empowered workforce that expects to work on a device of their choice. This need of mobility and flexibility is expected to aid the growth of the enterprise video market in Asia-Pacific.
The Asia-Pacific enterprise video market report examines the growth potential, market sizes, and revenue forecasts across different platforms, solutions and services.