The Growing Trend of 3D Video Conferencing in Video PaaS Market By CIOTechOutlook Team

The Growing Trend of 3D Video Conferencing in Video PaaS Market

CIOTechOutlook Team | Monday, 22 January 2024, 06:17 IST

The video PaaS market is driven by the growth of 3D video conferencing, the strong adoption of browser-based video conferencing with the help of WebRTC, and the growing interest in mobile video conferencing. In addition, the growing adoption of private cloud by many organizations and service providers is driving the market growth.

The market research and competitive intelligence provider, the global Video PaaS Market is estimated at US$ 5,612.5 million in 2024 and is projected to expand at a remarkable 29.7% CAGR through 2034. The market is estimated to attain a valuation of US$ 75,557.3 million by 2034, as per Fact.MR

The rise of video PaaS applications, especially in the education and healthcare sector after the outbreak of the coronavirus, has led to the deep penetration of video PaaS market players. Market players also collaborate with other companies working in the field of digital transformation and digital technologies to improve their product offering..

“Key players are finding significant opportunities in developed and developing countries alike. Increasing applications of video PaaS is also a contributing factor that is propelling the adoption of video PaaS by end users." says a Fact.MR analyst.

The market players are entering new and high growth markets to increase profits. Players are also introducing new features such as AI video streaming, augmented reality, virtual backgrounds and real-time rendering to enhance the user experience and meet the needs of the private sector.