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(IT-NEWSWIRE.COM, July 09, 2024 ) According to a research report "Visual Cloud Market Size, Share, Growth Analysis, by Offering (Solutions (Enterprise Video, AR/VR Solutions, Video Processing), Services), Deployment Mode, Service Models (IaaS, PaaS, SaaS), Vertical and Region - Global Industry Forecast to 2029" published by MarketsandMarkets, the global visual cloud market will grow from USD 126.0 billion in 2024 to USD 237.2 billion by 2029 at a compounded annual growth rate (CAGR) of 13.5% during the forecast period.
The emergence of visual clouds such as CDN, video streaming, and other interactive media application solutions is shifting the vendors’ landscape. Today’s environment experiences an increasing need for high-quality, low-latency video services because of remote working, online classes, and entertainment. AWS, Google Cloud, and Microsoft Azure are the leading platform providers with scalable cloud infrastructure to facilitate efficient content delivery and real-time processing. Specific suppliers, including NVIDIA, offer powerful GPU features for rendering and AI-based graphics outputs. These technologies allow efficient and flexible organization of visual data, which is crucial for various purposes, including gaming and telemedicine.
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Further, the future of visual cloud solutions promises further integration of AI and machine learning, enhancing video analytics, personalization, and augmented reality (AR) experiences. Edge computing will play a crucial role in reducing latency and bandwidth usage by processing data closer to the source. 5G networks will significantly boost visual cloud capabilities, supporting ultra-high-definition content and interactive services. Vendors must innovate continuously to address security, privacy, and infrastructure challenges while meeting the growing demands for immersive and responsive visual experiences.
The services segment is expected to capture the highest CAGR during the forecast period by offering segment.
The offering segment of the visual cloud market is segmented into solutions and services. The services segment accounted for the highest CAGR during the forecasted period. Services are necessary to install and implement cloud-based visual solutions for organizations. In the visual cloud industry context, the services are essential for their focus on optimizing corporate processes and enhancing business practices. Services are considered the basis for developing visual cloud solutions because they address customers' needs. Managers also advise clients on areas where their enterprise communication is deficient and what can be done. It is evident that through visual cloud services, organizations in various industries can improve their employees' communication. The market's growth for visual cloud solutions will also increase demand for services, especially for professional services.
Based on the solution, the AR/VR solutions segment is expected to hold the largest market share during the forecast period.
The visual cloud market, by solution, is segmented into AR/VR, enterprise video, video analytics, video processing, cloud gaming, and other solutions. It is expected that during the forecast period, the AR/VR solutions segment is expected to hold the largest market size and share in the visual cloud market. AR and VR solutions are immersive technologies that overlay digital information or create entirely virtual environments to enhance real-world experiences. In the visual cloud market, AR/VR solutions leverage cloud-based resources for rendering, processing, and delivering immersive content to users across various devices. Visual cloud platforms enable organizations to develop and deploy AR/VR applications that provide interactive training simulations, virtual tours, product visualization, and gaming experiences. By offloading, rendering, and processing to the cloud, AR/VR solutions offer scalability, flexibility, and accessibility, enabling users to access immersive experiences without needing expensive local hardware. These solutions drive innovation and engagement across industries such as education, healthcare, retail, and entertainment, transforming how users interact with digital content and enhancing the overall user experience.
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North America is projected to hold the largest market share during the forecast period.
By region, North America is projected to hold the most market share in the worldwide visual cloud market in 2024, and this pattern is anticipated to be valid throughout the forecast period. In North America, visual cloud solutions are critical in transforming various industries by leveraging advanced visual processing and analytics. These solutions are integral to enhancing security, optimizing operations, and improving user experiences across healthcare, retail, transportation, and entertainment sectors. For instance, visual cloud technologies facilitate remote diagnostics and telemedicine in healthcare by providing real-time video consultations and advanced imaging analytics. In retail, they enable personalized shopping experiences and efficient inventory management through video analytics and AR.
Additionally, visual cloud solutions in North America are driving the development of smart cities, with applications in traffic management, surveillance, and public safety. These solutions use real-time video data and analytics to efficiently monitor and manage urban infrastructure. The region’s robust 5G infrastructure and edge computing advancements further bolster visual cloud services' performance, ensuring low latency and high-speed data processing. This combination supports innovative applications such as autonomous vehicles and immersive media experiences, positioning North America as a leader in adopting and implementing visual cloud technologies. The synergy of these technologies accelerates digital transformation, fostering economic growth and enhancing the quality of life for residents.
Visual Cloud Companies:
Some of the significant visual cloud vendors include Microsoft (US), Google (US), IBM (US), AWS (US), Oracle (US), Zoom (US), Alibaba Cloud (China), Avaya (US), Cisco (US), and Poly (US).
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