The video as a service (VaaS) market is projected to expand from US$ 4.02 billion in 2022 to US$ 15.47 billion by 2030, reflecting a compound annual growth rate (CAGR) of 18.3% during this period.

In the healthcare industry, video conferencing solutions are increasingly being utilized to streamline daily operations. Medical professionals and patients are leveraging cloud-based video platforms for a variety of applications, such as virtual consultations, telemedicine for remote healthcare services, and research initiatives in life sciences. The growth of the healthcare sector is driving the adoption of these solutions among users, thereby propelling the global VaaS market forward. Data from Veritis Group Inc. indicates that by December 2022, 85% of healthcare organizations had begun utilizing cloud technology for their essential operations. The advantages of cloud software and solutions are substantial, enabling healthcare to adapt to modern digital health environments, facilitating video meetings between healthcare providers and patients, and offering various patient-centric services. VaaS not only helps in reducing travel expenses but also minimizes delays in receiving medical advice and eliminates long waiting times. Furthermore, this service allows healthcare professionals to monitor patients remotely, which is vital for individuals in emergencies or those residing far from medical facilities.

VaaS empowers healthcare providers to access hospital systems, enabling them to review laboratory results and medical records during video consultations. The increasing use of VaaS for real-time visual communication within the expanding healthcare sector is a significant factor driving the growth of the VaaS market.

The global VaaS market is categorized by deployment mode into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is anticipated to experience notable growth throughout the forecast period. This model allows organizations to retain sensitive data on-site while leveraging the scalability and resources of the public cloud for specific tasks, thus enabling efficient management of varying workloads. By combining the capabilities of hybrid cloud with VaaS, organizations can establish a robust and scalable video infrastructure tailored to their unique requirements, achieving a balance between flexibility, security, and cost efficiency.

The increasing adoption of cutting-edge technologies such as cloud computing, artificial intelligence (AI), and data analytics is significantly boosting the uptake of VaaS in the Asia-Pacific (APAC) region. Numerous technology startups in APAC are concentrating on integrating AI into their operations to enhance efficiency. These companies are particularly influenced by AI in areas such as product development, research and development, marketing, and customer engagement. The incorporation of AI into VaaS facilitates the management of team meetings, client collaborations, and overall business operations. Additionally, APAC is witnessing substantial growth in IT and telecom, healthcare, and banking, financial services, and insurance (BFSI) projects, further accelerating the expansion of the VaaS market in the region.

Key players in the VaaS market include Cisco Systems Inc., Zoom Video Communications Inc., Microsoft Corp., Amazon Web Services Inc., Avaya Holdings Corp., Google LLC, Adobe Inc., RingCentral Inc., Dekom AG, and BlueJeans. A comprehensive analysis of these and other significant market participants provides a well-rounded perspective on the VaaS market and its ecosystem.

The overall size of the VaaS market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the VaaS market. This approach also aimed to provide an overview and forecast of market growth across all segments. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this research included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the VaaS market.