The VaaS market is growing rapidly because of the transition from traditional web conferencing to advance cloud-based conferencing services. The market is expected to witness exponential growth in the next 5 years as till now only about 10% of the total meeting rooms across the globe are equipped with VaaS.
The global (VaaS) market to grow from USD 390.3 million in 2016 to USD 1,587.4 million by 2021, at a CAGR of 32.4%.
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The VaaS market is segmented into two major services, managed services and professional services.
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Increasing adoption of cloud services by SMEs and government agencies and increase in the BYOD trend are the major factors driving the growth of the VaaS market.
The market involves a large number of vendors such as Cisco Systems (U.S.), Interoute Communication Limited (U.K.), Polycom, Inc. (U.S.), Adobe Systems (U.S.), Huawei Technologies (China), Avaya, Inc. (U.S.), Vidyo (U.S.), BlueJeans Network (U.S.), Applied Global Technologies (U.S.) and AVI-SPL (U.S.) providing tailored video services. Furthermore, the report also includes in-depth competitive analysis of the key players in the VaaS market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
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North America is expected to generate the highest revenue during the forecast period, followed by Europe, whereas APAC region is expected to witness the highest growth rate. The growth rate in APAC is expected to be the highest due to the increased spending by companies and government agencies in cloud services and the opportunities provided by emerging economies like India and China for the VaaS service providers.
The study validates the market size of segments and sub-segments through secondary research and in-depth primary interviews. Various industry leaders in Tier 1, Tier 2, and Tier 3 companies were contacted for primary interviews.
The in-depth interviews were conducted with CEOs, marketing directors, other innovation & technology directors, and executives from various key organizations operating in the satellite marketplace.
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