Report Overview

Saudi Arabia Video as a Service Market is flourishing owing to the rising popularity of video-as-a-service (VaaS) and increased enterprise adoption of high-speed connectivity along with the growing enterprise acceptance of 3D video conferencing to provide enterprise-class functionality while maintaining legacy connectivity.

Saudi Arabia Video as a Service Market - Industry Trends & Forecast Report 2028

Saudi Arabia Video as a Service Market is predicted to grow at a CAGR of 9.4% during the forecast period (2022-2028). The Saudi Arabian video as a service market is expanding as more businesses accept 3D video conferencing as a way to maintain legacy connectivity and provide enterprise-class functionality. One of the factors fueling the growth of the video as a service market is the rising usage of browser-based video conferencing using Web real-time communication (WebRTC) and the growing focus on mobile video conferencing. Cloud video services offer a seamless, top-notch experience with the country's 5G service expansion. Moreover, the market for video as a service in Saudi Arabia is expanding as a result of the growing number of cloud suppliers with their service platforms that allow businesses to cut the Total Cost of Ownership (TCO) and save money on infrastructure, licensing, etc.

Video as a Service - Overview

A video conference is a real-time, visible connection made for conversation between two or more persons who live in different places. Video conferencing, at its most basic, allows for the transfer of text and still pictures between two locations. When fully developed, it allows for the transmission of high-quality audio and full-motion video between numerous locations. Organizations can quickly implement video conferencing with little infrastructure expenditure thanks to cloud-based video services. Many businesses use VaaS to facilitate staff collaboration and customer-facing services without having to worry about the underlying networks and technology of the conference participants.

Saudi Arabia Video as a Service Market Forecast and Trends

Growth Drivers

Lower Overall Ownership Costs

Business cloud service platforms are difficult to set up and have a higher total cost of ownership. Previously, businesses had to appoint infrastructure teams to manage their cloud infrastructure on their servers. VaaS enables enterprises to reduce infrastructure investments by outsourcing infrastructure management to managed service providers (MSPs). Cloud providers host their service platforms on their servers. Organizations upload their data to their platforms and pay just for the resources needed to use video conferencing services. Organizations can lower their Total Cost of Ownership (TCO) and save money on infrastructure, licensing, and support by utilizing shared video as a service architecture.

Rise of 5G Accelerates the Uptake of Cloud Services

The cloud computing industry is projected to see significant advancements during the forecast period owing to 5G technology. This is so that most technological advancements may function more effectively when they are cloud-dependent. With its low to zero latency, 5G enhances that integration, resulting in more seamless communications. A smooth, high-quality experience for cloud video services including conferencing, recording, and storage is provided through enhanced mobile broadband. A lower cost per bit makes mobile data packages more reasonable and unlimited, better suited to intensive media usage. Furthermore, the use of video conferencing via 5G is expected to be accelerated by newer technologies like facial recognition and live transcripts using AI and ML. The market for video as a service has a lot of room to grow as 5G technology develops since it has so much transformative potential.

Demand for Real-time and Distant Video Services is Increasing

Customers and businesses continue to seek well-produced and high-quality video services as modern video technology becomes cheaper. Furthermore, there is a growing demand for real-time video service for incident management, which improves response quality in emergency and disaster circumstances such as natural disasters, fire incidents, road accidents, thefts, security breaches, and others. Furthermore, rising demand for remote access video services promotes market expansion by allowing for the efficient production of high-volume, high-quality live and on-demand video content with quick turnarounds. Following the COVID-19 epidemic, the change to remote workflows has caused considerable hurdles, particularly in the media and entertainment business, and organizations are increasingly demanding real-time video service.

Restraints

Concerns about Data Security and Privacy

Businesses may have serious worries about the security and privacy of the video footage shared across a variety of channels. Additionally, because of the potential for abuse, information leaks, and data breaches, corporations are increasingly concerned about copyright and Digital Rights Management (DRM). The biggest number of data breach events were reported in the public, manufacturing, healthcare, finance, and information industries in 2019. Before implementing these solutions, businesses need to restructure their methods for utilizing video conferencing services to address these issues. Video conferencing systems may experience a slow rate of adoption in the absence of policies and procedures for the proper management of video content. Vendors must also provide enterprise-grade video communication systems with built-in security measures that are interoperable and simple to use.

Impact of COVID-19 on Saudi Arabia Video as a Service Market

Due to the COVID-19 outbreak, numerous governments have implemented stringent lockdowns, shutdowns, and mobility restrictions to prevent the virus from spreading. The market for video as a service has seen a beneficial influence as the use of video conferencing for cooperation and communication has expanded by more than 100%. The pandemic has also hampered company efficiency and employee productivity across the country. As a result, the use of VaaS solutions and services has accelerated dramatically in the pandemic, positively impacting the market growth. In post-pandemic settings, it is projected that the usage of VaaS solutions for collaboration, training, client interaction, and marketing would increase.

Saudi Arabia Video as a Service Market - By Application

Based on the application, the Saudi Arabia Video as a Service Market is segmented into Corporate Communication, Training and Development, Marketing and Client Engagement. Among these, marketing and client engagement account for the largest share in the Saudi Arabia Video as a Service Market. Organizations may easily engage audiences, communicate with them more efficiently, and increase their reach with the use of video conferencing for marketing objectives. VaaS solutions improve customer engagement by allowing for more communication with clients, allowing them to have a more positive relationship with the organization. All these factors propel the growth of the Saudi Arabia Video as a Service Market during a forecast period (2022-2028).

Saudi Arabia Video as a Service Market - By Organizational Size

Based on organizational size, the Saudi Arabia Video as a Service Market is segmented into Small & Medium-Sized Enterprises and Large Enterprises. The large enterprises segment now has the biggest market share and is likely to continue to do so during the forecast period (2022-2028). Saudi Arabia Video-as-a-Service (VaaS) market is being driven by increased demand for real-time and remote access video services, increased adoption of video conferencing solutions by large enterprises to support various operations, and advancements in high-speed communication infrastructure. This influences the large enterprises segment to dominate the market share in the upcoming years.

Saudi Arabia Video as a Service Market - By End-User

Based on end-user, the Saudi Arabia Video as a Service Market is segmented into BFSI, IT & Telecom, Healthcare, Education, Media and Entertainment, Government, Consumer Retail, and Others. Among these, the healthcare segment holds the largest market share. VaaS allows hospitals to remotely monitor patients, which is critical for those who reside far from healthcare facilities or after accidents in rural places. Aside from the benefit of real-time visual communication, VaaS allows staff members to access hospital systems during a video conference to view patient records and laboratory results.

Competitive Landscape

The leading market players in the Saudi Arabia Video as a Service Market are Adobe Inc, Cisco Saudi Arabia Limited, Apple Inc, NTT DATA Saudi Arabia, Microsoft Gulf FZ LLC, Zoom Video Communications, Google Inc, and other prominent players.

The Saudi Arabia Video as a Service Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Scope of the Report

By Application

• • Corporate Communication
  • Training And Development
  • Marketing and Client Engagement

By Cloud Deployment Mode

• • Public
  • Private
  • Hybrid

By Organizational Size

• • Small & Medium-Sized Enterprises
  • Large Enterprises

By End-User

• BSFI
• IT & Telecom
• Healthcare
• Education
• Media And Entertainment
• Government
• Consumer Retail
• Others