A Detailed Analysis of the North America Enterprise Video Market on the Basis of Video Conferencing, Video Content Management & Webcasting Tool
Scaling Up with the Cloud- FMI Investigates in its Study How Cloud-based Enterprise Video Solutions Are Revolutionizing Businesses across North America!
North America Enterprise Video Market Outlook (2023 to 2033)
In 2023, North America enterprise video market size stood at a valuation of US$ 15,647.2 million. From 2023 to 2033, the market is expected to surge at 11.0% CAGR. It is estimated to top a valuation of around US$ 44,299.9 million by 2033.
The market for enterprise videos in North America is defined as the industry for video-based products and services. These are used by enterprises to facilitate communication, collaboration, and training.
It includes products such as video conferencing, streaming media, video walls, and digital signage. It also includes services such as video production, video hosting, and video analytics.
Several enterprise video solution providers are implementing cloud computing technologies for their offerings and solutions. A cloud-based enterprise video solution provides end users with a unified communication platform.
It also includes video content management, cloud storage, and recording. Cloud offering allows clients to scale up and down their requirements as per their needs.
It further enables users to be charged based upon how they choose to use the platform. North America enterprise video industry holds about 21.5% of the global enterprise video market, says Future Market Insights (FMI).
The pandemic has accelerated the trend toward remote work since it started back in 2020. Several businesses across North America are looking for ways to keep their teams connected and engaged. Enterprise video platforms provide a way for teams to collaborate, communicate, and stay productive, regardless of their location.
Video is a highly engaging medium, and businesses are finding that it can help them better connect with their customers and employees. By incorporating video into their marketing and communication strategies, businesses can increase engagement and drive more conversions.
Enterprise video platforms are also becoming more affordable, making them accessible to enterprises of all sizes. As the cost of video production and distribution continues to decrease, more companies are incorporating video into their marketing and communication strategies.
Availability of high-speed internet has played a significant role in pushing enterprise video sales in North America. With more people having access to fast and reliable internet connections, it has become easier for businesses to adopt video communication and collaboration tools.
Attributes
Key Insights
North America Enterprise Video Market Estimated Size (2023F)
US$ 15,647.2 million
Projected Market Valuation (2033E)
US$ 44,299.9 million
Value-based CAGR (2023 to 2033)
11.0%
Collective Value Share: Top 5 Vendors
35%
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2018 to 2022 North America Enterprise Video Market Outlook Compared to Demand Forecast for 2023 to 2033
North America enterprise video industry is expected to propel at a CAGR of 11.0% from 2023 to 2033. It witnessed an average CAGR of 7.0% in the historical period from 2018 to 2022.
The regional market is expected to elevate in the forecast period due to increasing demand for enterprise video solutions from various organizations. These are needed to improve their productivity, communication, collaboration, and training.
Growing trend for remote working and increasing adoption of cloud-based video solutions are also expected to fuel the market. Rising number of video conferencing applications and surging trend for bring your own device (BYOD) at workplaces are a few other factors propelling sales. Increasing demand for video streaming services is further expected to drive the market.
Easy availability of cloud-based enterprise video solutions has made it easier for firms to adopt and use video communication & collaboration tools. Cloud-based solutions provide them with greater flexibility and scalability. These also allow them to easily scale their usage as needed and access video tools from anywhere.
Top North America Enterprise Video Market Trends Listed by Future Market Insights (FMI)
North America enterprise video industry is being driven by increasing demand for high-quality video content.
Need for improved efficiency & collaboration and growing focus on employee training & development are expected to push the market.
Growing demand for cloud-based video solutions and increasing adoption of mobile devices are a few other factors contributing to market expansion.
Urgent need for improved data security and privacy is set to propel the market.
Emergence of new technologies such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) is likely to create new opportunities in the market.
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Country-wise Insights
Why is the United States Exhibiting High Enterprise Video Sales?
Early Adoption of Technology in the United States to Spur Demand for Enterprise Video Solutions
The United States is projected to dominate the North America enterprise video market in the evaluation period. It is attributed to the country’s rising population, high rate of technology adoption, and strong economy.
The United States also has a strong infrastructure for digital media and various companies offering enterprise video services. It has helped to create a competitive and innovative market for enterprise video services in the country, leading to higher market shares. The United States is projected to generate a share of 79.4% in 2023 in North America market.
Would Canada be a Prominent Hub for Enterprise Video Service Providers?
Rising Working Population in Canada to Augment Sales of Enterprise Video Platforms
The government of Canada reported that in 2022, there was a significant influx of immigrants into the country. They also predicted that the immigrant population will expand by 30% in 2036, based on current levels of immigration.
Immigration is responsible for about 75% of Canada's population growth. The 2022 survey revealed that immigrants made up 41% of engineers, 33% of business owners, and 36% of physicians. Rising population in Canada is expected to fuel the workforce in numerous industries operating in the country.
Growth in workforce, as well as enterprises would act as a good opportunity for expansion in the market for enterprise videos in Canada. Companies in the country have been increasingly focusing on employee engagement and retention. It has further driven growth, and the country is set to exhibit a CAGR of 15.1% in the next ten years.
Category-wise Insights
Which is the Highly Preferred Type of Solution in North America?
High Demand for Video Conferencing to Bolster Need for Enterprise Video Services
Video-conferencing is one of the most popular and widely used enterprise video solutions in North America. Growth is owing to its cost-effectiveness, scalability, and ease of use. Video-conferencing allows for quick and easy communication between remote teams.
Its ability to connect multiple people from different locations makes it ideal for businesses that need to collaborate across various locations. Video-conferencing provides a more personal and engaging experience than traditional phone calls or emails, which can help to improve team collaboration and productivity.
It makes video-conferencing an attractive option for businesses in North America, which is why it has such a significant market share. The segment is estimated to hold a market share of 66.8% in 2023.
Which is the Leading Deployment Segment across North America?
Companies to Look for Cloud-based Enterprise Video Streaming Solutions
Cloud-based deployment segment is likely to generate a considerable North America enterprise video industry share by 2033. It offers a number of benefits to businesses. Cloud-based deployments provide businesses with scalability, cost savings, and flexibility.
Cloud-based deployments also allow businesses to quickly and easily scale their video solutions as needed, reducing the need for costly hardware investments. These provide them with the ability to have their video solutions hosted in the cloud. These further allow businesses to take advantage of the latest features and technologies without having to worry about managing their own infrastructure.
Cloud-based deployments offer businesses the flexibility to access their video solutions from anywhere, at any time. These allow them to better meet the needs of their customers. The cloud-based deployment segment held a market share of 42.7% in 2022.
Which Category of Enterprise would be Most Interested in Utilizing Enterprise Video Services?
Medium-sized Enterprises to Quickly Adopt Enterprise Video Management Tools
Medium-sized enterprises are expected to surge in the North America enterprise video market due to increasing demand for video-based communication tools. Video conferencing and webcasting solutions are becoming increasingly popular among these enterprises. They offer cost-effective communication solutions that can be used to collaborate with remote teams and customers.
Increasing adoption of cloud-based solutions is another factor that would drive demand. Easy availability of advanced video solutions tailored to the needs of medium-sized enterprises is also anticipated to augment growth of the segment. The segment is hence projected to showcase a CAGR of 14.1% during the assessment period.
Which is the Top-performing Application Segment in North America?
Digital Marketing Management Solutions to Find Extensive Usage for Running Campaigns
Digital marketing management segment is anticipated to exhibit high growth in the North America enterprise video market through 2033. It provides businesses with the ability to reach their target audiences more effectively and efficiently. Digital marketing management also delivers the ability to track, analyze, and optimize their campaigns in real-time, allowing them to maximize their return on investment.
Digital marketing management also allows them to take advantage of new technologies such as artificial intelligence and machine learning. Businesses can hence automate their processes, improve customer engagement, and increase conversions.
Digital marketing management further enables them to better understand their customers and create more personalized experiences. It can often result in high customer satisfaction. The segment is likely to witness a CAGR of 14.3% in the forecast period.
What is the Industry that Relies the Most on Enterprise Video Solutions?
Demand for Enterprise Video Webcasting Solutions to Expand among Service Providers
The services industry is predicted to remain at the forefront in the forecast period. It is capable of providing comprehensive solutions to organizations looking to implement video solutions. In 2022, it held a market share of about 30.4%.
The services industry offers a range of services such as consulting, implementation, integration, and training. These can help organizations maximize the value of their video investments.
The services industry can also provide expertise in areas such as video technology, content management, and streaming. It can help organizations to stay ahead of the curve when it comes to video technology. The industry can provide ongoing support and maintenance, which would help organizations ensure their video solutions remain up-to-date and secure.
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Competitive Landscape
Enterprise video service providers across North America are offering a complete suite of video services that includes live streaming, video-on-demand, video conferencing, and webinars. By providing a full range of services, they can cater to diverse needs of their clients.
With increasing need for secure and compliant video content, providers are prioritizing security and compliance features. A few of these include password protection, access controls, and encryption.
Emerging providers are offering advanced analytics and insights to help clients understand the performance of their video content. It includes data on engagement, retention, and conversion rates, as well as viewer demographics and geographic locations.
Few recent developments in the North America enterprise video market include:
In August 2021, Microsoft Corporation announced the launch of its new Microsoft Streams video platform. It provides businesses with a secure and reliable way to store, manage, and share videos.
In June 2021, Adobe Systems Incorporated launched its new Adobe Video solution. It features advanced analytics and collaboration tools to help organizations create and manage videos quickly and easily.
Scope of the Report
Attribute
Details
Estimated Market Size (2023)
US$ 15,647.2 million
Projected Market Valuation (2033)
US$ 44,299.9 million
Value-based CAGR (2023 to 2033)
11.0%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
Value (US$ million)
Key Countries Covered
United States and Canada
Key Segments Covered
Solution, Deployment, Enterprise Size, Application, Industry, and Country
