The global video
communication platform as a service (PaaS) market demonstrates a
highly fragmented business landscape, states Persistence Market
Research (PMR) in a new research report. Several companies, namely,
Vidyo, GENBAND, Sightcall, Sinch, Agro.io, Tokbox, Twilio Inc., and
Xura, have emerged as the leading vendors of video communication
platform as a service across the world.
These participants are focusing
aggressively on the technological advancement of their products and
services to meet the demand of their consumers. Over the next few
years, they are expected to shift their focus towards partnerships
and mergers and acquisitions in order to expand their consumer base.
According to PMR’s estimations, the global market for video
communication platform as a service was worth US$97.67 bn in 2016,
reports the research study.
The global market for video communication
platform as a service (PaaS) is gaining remarkably from the
increasing demand for this service in the business, media, education,
and the healthcare sectors, rising uptake of video communication
facilities in enterprises, and the augmenting penetration of the
Internet, worldwide. The increase in the cloud integration is also
propelling the revenue of the global market further. However, the
increasing concerns among consumers pertaining to data security,
rising quality issues, and the dearth of appropriate business cases
for real-time communications may restrict the growth of the global
market for video communication Platform as a Service (PaaS) over the
next few years.
Various prominent trends are expected to
administer the worldwide market for video communication Platform as a
Service (PaaS) in the years to come. The augmenting popularity of 3D
video conferencing, rising focus on mobile video conferencing,
increasing uptake of browser-based video conferencing via WebRTC, and
the surge in private cloud network by service providers are some of
the key trends that are expected to influence the global market for
video communication Platform as a Service (PaaS) during the period of
the forecast, states the research study.
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In terms of geography, the global market
for video communication Platform as a Service (PaaS) registers its
presence into Asia Pacific, North America, Europe, Latin America, and
the Middle East and Africa. With a share of more than 85% in the
overall market, North America emerged as the leading geographical
segment of this market in 2016. The regional market is anticipated to
retain its top spot throughout the forecast period, thanks to the
presence of a technologically advanced IT infrastructure.
Amongst other regional markets, Europe
and Asia Pacific are likely to report a steady surge in their
respective markets for video communication Platform as a Service
(PaaS) over the forthcoming years. Europe is expected to benefit from
the presence of a large pool of players while Asia Pacific will
thrive on the ample untapped potential it offers, notes the research
report.
The review is based on a report by
Persistence Market Research, titled “Global Market Study on Video
Communication Platform as a Service (PaaS): Private Cloud Segment to
Account for 57.4% Value Share by 2016 End.”
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