Global Enterprise Video Market Expected to Exceed $33 billion by 2027

PALM BEACH, Fla., Feb. 24, 2021 /PRNewswire/ -- The renewed focus of organizations on improving the internal and external communication processes with clients and customers is driving the growth of enterprise video solutions market and reports project that the market will continue to grow at a significant rate over the next several years. Growth in the number of smartphone users and increase in the use of mobile apps has played a significant role in the adoption of enterprise video solutions. Organizations are using enterprise video solutions for applications such as video conferencing and live streaming, which help workforce engage and interact with each other in real-time. They also aid in connecting geographically dispersed employees. A report by MarketsAndMarkets projected that the enterprise video market is expected to grow from USD 16.4 billion in 2020 to USD 25.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. The major factors driving the enterprise video market include the growing demand for video streaming and the need for connecting remote workforce, an increasing number of internet users, rising smartphone adoption, and increasing operational efficiency among organizations.    Active companies in the markets this week include Verb Technology Company, Inc. (NASDAQ: VERB), Zoom Video Communications, Inc.(NASDAQ: ZM), Cisco Systems, Inc. (NASDAQ: CSCO), Salesforce (NYSE: CRM), Shopify Inc. (NYSE: SHOP) (TSX: SHOP).

The MarketsAndMarkets report found that cloud deployment mode is expected to grow at the highest CAGR rate during the forecast period, saying: "Cloud or hosted enterprise video solutions are provided as SaaS by service providers. These solutions convert fixed costs of services to variable costs as customers pay according to the services used by them. They can also start or stop any service at any time. Thus, the use of cloud-based enterprise video solutions provides flexibility to organizations to adjust to the dynamic business environment. Scalability and cost-effectiveness are the major advantages of adopting cloud-based enterprise video solutions. With advancements in cloud-based technologies, the use of enterprise video solutions as SaaS is emerging as the best practice for companies looking for cost-effective functionalities."

Verb Technology Company, Inc. (NASDAQ: VERB) BREAKING NEWS:  VERB to Offer Its Livestream eCommerce App Free to All Small Businesses in the U.S. Affected by the Pandemic - Verb Technology Company, Inc., a rapidly emerging market leader in business-focused interactive video sales and marketing tools, including livestream ecommerce, CRM, and content management applications, today announced that it is offering its LIVE STREAM ECOMMERCE technology to small businesses all over the country for free to help navigate the challenges the pandemic has created. Through their verbTEAMS app, users can create their own QVC and Home Shopping Network-style live broadcasts showcasing and promoting their products or services with one big difference - viewers can actually click right in the livestream video broadcast and purchase in real-time. It also has an on-screen real-time interactive chat feature that produces a true social experience allowing viewers to ask questions of the host as well as chat with one another during the live broadcast. It's as close as you can get to an actual in-store buying experience, and in many ways better, more engaging and more fun. Think Zoom and Shopify combined with your favorite live chat feature.

The verbTEAMS app with verbLIVE, its interactive livestream feature, is particularly effective for Shopify users as well as eBay and Etsy sellers. For Salesforce users, the app also has a special one-click Salesforce app synchronization. In an effort to help small businesses recover, and in many cases survive the effects of the pandemic, VERB is offering its app for free for 30 days to all small businesses in the U.S. The free offer is effective immediately and interested users can sign up here.

Available in mobile and desktop versions, the VERB app is easy-to-use and allows businesses and entrepreneurs to engage directly with customers during livestream sessions through clickable in-video icons to buy, receive additional product information, set up appointments, and other customizable interactive features, while offering real-time viewer interaction analytics to drive sales conversion rates in a friction-free sales setting.

In addition to the free use of verbTEAMS, VERB is offering free biweekly training and business seminars to help businesses with onboarding, understanding and using the app's powerful and innovative features, managing content and contacts, leveraging content analytics as well as viewer engagement analytics, and featuring entrepreneur showcases and success stories, among other supportive initiatives. To register for these events, please click here.

"We expect livestream direct selling, already a massively successful and lucrative new channel in Asia, to grow in popularity in the U.S. as the paradigm shift continues and as businesses adapt to rapidly changing shopping trends and consumer behavior. We believe that we are best-positioned to help small businesses and entrepreneurs in this remote work environment by equipping them with the tools and support that can take customer engagement to new levels of sales productivity at a time when our Country's small businesses need it most," said Nick Hoggan, VERB Chief Revenue Officer.  Read the first entire release and more news for VERB at:  https://www.financialnewsmedia.com/news-verb/     

Additional recent developments include:

Zoom Video Communications, Inc. (NASDAQ: ZM) recently announced the general availability of Zoom Rooms innovations that will help organizations safely re-enter the office and sustain an 'everywhere workforce'. The traditional workplace has evolved and adapted with employees and organizations embracing more places as workspaces. Whether it's in an office, co-located space, remote location, or at home, Zoom's platform enables organizations to put employee health and safety at the center of their strategy.

In an effort to ensure the safety of every employee and customer, organizations are faced with the need to address their employee's top three concerns about working in the workplace. Generally summarized as: others coming to work sick, an overcrowded workplace, and proper ventilation (Envoy.com).

Salesforce (NYSE: CRM), the global leader in CRM, today announced that Ferguson, the largest U.S. distributor of plumbing supplies and a major distributor of HVAC equipment, has selected Salesforce to power its digital transformation. Ferguson will leverage the Salesforce Customer 360 Platform to gain a single source of truth and complete view of its commercial and residential customers wherever they are engaging with the company—whether online, in the showroom or plumbing counter, or on the phone—to better track and manage their projects from anywhere.

Ferguson has been a trusted wholesale supplier of direct-to-consumer and direct-to-business commercial and residential plumbing and heating supplies for more than 65 years with strong, often decades-long, relationships with contractors and individual consumers. With the spike in essential construction and home renovations due to the COVID-19 pandemic, combined with the temporary closure of local showrooms, Ferguson needed to rapidly digitize many key aspects of its business.

AppDynamics, a part of Cisco Systems, Inc. (NASDAQ: CSCO), recently released Agents of Transformation 2021:The Rise of Full-Stack Observability, the latest edition of its global research study, exploring the impact of the rapid acceleration of digital transformation created in response to the COVID-19 pandemic and the repercussions for global technologists. The findings reveal a dramatic increase in IT complexity caused by the need for urgent innovation - and the resulting technology sprawl. The research also validates a pressing need for full-stack observability with added business context to help technologists manage the IT estate, cut through the data 'noise' and observe what matters most to their business.

Shopify Inc. (NYSE: SHOP) (TSX: SHOP), a leading global commerce company, recently announced strong financial results for the fourth quarter and full year ended December 31, 2020.  "The spirit of entrepreneurship was strong in 2020, as our merchants' resilience and ability to adapt helped many of them thrive in a difficult year," said Harley Finkelstein, Shopify's President. "Shopify is at the heart of our merchants' businesses with entrepreneurs around the world trusting us with their livelihoods. This year, we are doubling down on creating a frictionless path to successful entrepreneurship, as we continue to build a future-proof commerce solution to serve generations to come."

"Our fourth-quarter results capped off an outstanding 2020, thanks to the success of our merchants in a year that truly tested their mettle and triggered more entrepreneurs around the world to start their journey toward economic independence," said Amy Shapero, Shopify's CFO. "Shopify was prepared to ship the features that our merchants needed during the pandemic because we had invested for several years in a future that arrived early with the acceleration of online commerce. We're amplifying our efforts in 2021, as we focus on executing on a portfolio of initiatives that will fuel further growth for our merchants and for Shopify."

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