According to recent research carried by research firm MarketsandMarkets, the enterprise video market will see an annual growth rate of 25.9% between 2013 and 2018.
The report, Enterprise Video Market – Global Advancements, Market Forecasts and Analysis (2013-2018), provides analysis for the overall enterprise video technology market, breaking it down into sectors such as hardware, software, regions and more.
Currently, the market is worth $11.21 billion and it’s thought that this will rise to $35.57 billion in 2018. Whilst some of the latest technologies are still emerging, it’s thought these will see a rapid rise in popularity in the 5 years up to 2018.
These newer video technologies include: high efficiency video codec, web real-time communications, search, indexing and captioning. These, the report says, "are enriching the video delivery among enterprises”.
Video is quickly becoming important to enterprises, thanks to the productivity and collaborative opportunities that it offers. Remote workers can connect to the office and talk face-to-face with employers and other members of their team and video collaboration does away with the need for constant and expensive business trips.
According to MarketsandMarkets : "The growing demand for on-demand video services, advancements in technology and use of collaborative techniques in video content delivery are driving the market for enterprise video.”
Whilst video calling has been around for some time now, recently there has been a growth in business grade systems entering the market that offer the latest technology. These are more secure and give more options for video conferencing within the enterprise and when calling overseas.
"It is increasingly being seen as the ideal form of communication in many situations," David Boyll, Oracle Marketing's director of digital media told Streamingmedia.com . "The ease of production, distribution and access means that enterprise video is becoming a preferred option for training, internal communications, and sales enablement."
"[G]rowth is being driven by several factors, including the rising usage of videoconferencing," he went on to say. "Top sales execs are pushing for videoconferencing to increase their own sales success, and to keep in touch with other employees and potential clients."
The growing enterprise market is a reflection on the huge growth that video has seen overall in recent years. Faster internet speeds, the growth of consumer VoiP applications, such as Skype, and more streaming services being offered has meant that consumers are also using more online video all the time.