Global Video-As-A-Service (VaaS) market research 2024, Forecast To 2033

The video-as-a-service (VaaS) market size has experienced exponential growth in recent years, surging from$4.57 billion in 2023 to$5.53 billion in 2024, with a compound annual growth rate (CAGR) of 20.9%. This growth in the historic period is attributed to increased use of mobile devices, security and compliance requirements, the rise in remote work, globalization of businesses, cost savings, and scalability, alongside improved internet connectivity. Looking ahead, the market is poised for further exponential growth, reaching$11.95 billion in 2028, with a CAGR of 21.2%. Factors driving this growth include hybrid work models, vertical-specific solutions, enhanced user experience focus, green initiatives and sustainability, as well as customization and API development. Major trends in the forecast period include integration with unified communications, cloud-based video services, heightened security and compliance focus, AI-enhanced video capabilities, virtual events and webinars, real-time analytics and insights, and continuous software updates and feature enhancements.