Video PaaS Market
By the end of 2033, the video PaaS market is expected to generate sales of US$ 58,718.70 million, with a valuation of US$ 4,876.5 million as of 2022. By 2023, the market is anticipated to reach US$ 6,042.0 million. From 2023 to 2033, the video PaaS market is expected to grow at a CAGR of 25.5%.
In order to create video-based applications, such as video chat tools, live streaming platforms, video hosting websites, and more, video platform as a service (PaaS) software offers APIs. A video conference is a face-to-face visual link established for conversation between two or more persons who reside in different places.
Video communication platform as a service (PaaS) is a cloud-based delivery model that enables users to add real-time communication functions such as voice, video, and messaging to business applications by deploying application-programming interfaces.
The risk of data security is a factor that is expected to restrain the growth of the global video PaaS market over the forecast period, as rising quality concerns, and Increasing quality concerns are expected to hamper the global video PaaS market's growth over the forecast period. Because there are numerous issues with video quality, high-quality video conferencing is a top priority for business organizations.
The market in North America held the largest market share of 27.60% in 2022 and Europe region held a 21.6% value share in the global market during 2022.
Why is Video PaaS Market Popular in PaaS Market?
“Growing demand for video conferencing services is Primarily Attributed to Rising Demand for The Video PaaS Market”
Growing application virtualization requirements, combined with an increasing number of mobile users, have prompted many businesses to adopt cloud-based video conferencing services. This growing adoption can be found in a variety of industries, including healthcare, education, government, and media, and is expected to support market growth over the forecast period.
- In May 2022, Laminar, a platform as a service (PaaS) for video streaming infrastructure, has raised $5 million in venture capital from Leo Capital, Artha India Ventures, Garuda Ventures, Cloud Capital VC, and Sampson Acquisitions, Inc.
In Aug 2022, Qumu Video Engagement Platform Launches on Google Cloud Marketplace Qumu's Transformation into the Software-as-a-Service (SaaS) Enterprise, Broadens and Streamlines Market Access to the Capabilities of the Qumu Video Engagement Platform
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