Leading Players Emphasizing on Adoption of Cloud-based Service to Bolster Global Enterprise Media Gateway Market
Media gateways are being used extensively for converting digital media streams into diverse telecommunications networks. Enterprise media gateways are considered as a vital component of the enterprise unified collaboration and communication systems. Some of the key applications of enterprise media gateway are media and entertainment, healthcare, banking and insurance, defense, government, telecom and IT, and hospitality. The rising focus of the prominent players on technological developments and innovations is expected to fuel the growth of the global enterprise media gateway market in the next few years.
According to a market intelligence study by Transparency Market Research, in 2013, the global enterprise media gateway market was worth US$1.89 bn and is expected to reach a value of US$2.37 bn by the end of 2020. The market is projected to register a 3.10% CAGR between 2014 and 2020.
What factors are likely to influence the growth of the global enterprise media gateway market?
The rising demand for cloud-based services and session initiation protocol (SIP) trunking and the rising deployment of IP communication applications are some of the primary factors expected to fuel the growth of the global enterprise media gateway market. In addition, technological advancements for enhancing network infrastructure in mobile services and the advent of cloud-based solutions for unified communications are estimated to encourage market growth in the next few years. The rising use of enterprise media gateways with enterprise session border controllers is likely to generate promising opportunities for the key players operating in the market.
Which geographical segments are expected to witness exponential growth in the coming years?
Among the key geographical segments, North America is expected to lead the global enterprise media gateway market. The high growth of this segment can be attributed to the presence of medium and large-sized enterprises in this region. As per the study, North America is projected to hold a share of 31.1% of the global market, further followed by Europe. The voice over internet protocol and the session initiation protocol are the key application segments that are contributing extensively towards the growth of the enterprise media gateway market in North America.
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What are the business strategies adopted by the players to sustain in the competitive environment of the market?
At present, the global enterprise media gateway market is fragmented and competitive in nature with a presence of a large number of players operating in it. The growing adoption of cloud-based services in this field has contributed extensively towards the development of the market. The prominent players are focusing on new product development and research and development activities in order to improve their market penetration and boost sales. In addition, the growing emphasis on untapped markets and the increasing number of mergers and acquisitions are estimated to generate substantial opportunities in the near future.