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Health Crisis Pushes Enterprise Video Communications Revenues To Nearly $19 Billion

The millions of employees working and networking from home during the COVID-19 pandemic have proven that video is a powerful tool for marketing, collaboration, training and many other use cases for businesses across multiple industries. Evolving video delivery technologies, coupled with smart content-management solutions, continue to provide benefits to enterprise video deployments. And according to a new report from global tech market advisory firm ABI Research, enterprise video market is forecast to generate $18.7 billion in 2020.

Low-latency video streaming solutions allow live streaming of corporate events to both internal and external viewers. “Artificial Intelligent (AI) and Machine Learning (ML) technologies enable enterprise video applications to be more efficient,” Khin Sandi Lynn, Industry Analyst at ABI Research, explained. “Facial and object recognition, scene detection, and speech-to-text capabilities are making video indexing and search functions easier, faster and more accurate. AI-assisted content screening allows enterprises to make sure the videos are in line with regulations. Such features are driving more enterprise video deployments across different industries.”

Enterprise video deployments are increasingly implemented on the cloud, shortening the deployment time, and reducing costs since cloud-based solutions do not need a substantial CAPEX on hardware and software.

Augmented Reality (AR) and Virtual Reality (VR) video applications are emerging solutions for corporate training and retail and marketing purposes. AR/VR technologies offer immersive and realistic experiences that are impactful in healthcare or industrial manufacturing training programs. In addition, AR/VR technologies enable powerful marketing tools for promoting products and services in automotive, retail, tourism and many other verticals. The availability of high-capacity, low-latency networks will create more opportunities for cloud-based AR/VR video applications in the enterprise segment.

The novel coronavirus (COVID-19) outbreak has contributed significantly to the rise in enterprise video deployment in 2020. Technology advancements and benefits offered by enterprise video solutions will continue to drive the market in the years to come.

“As the market continues to grow, video solution providers need to support efficient features for video searching tracking, video metrics and meaningful analytics,” Lynn concluded. “The capability to integrate analytical solutions into marketing automation and customer relationship management systems will also be beneficial to businesses and organizations.”

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