Video Communications Platform-as-a-Service Market to Explode as Companies Video-Enable TeleHealth, Video Banking, Field Services, Workforce Collaboration and Other Apps
HACKENSACK, N.J. , Aug 25, 2016 – Vidyo customers are leveraging embedded interactive video communications as a key competitive advantage. The company has seen rapid adoption of its VidyoWorksTM platform and has announced Vidyo.ioTM, a video platform-as-a-service offering (Video PaaS). Vidyo.io enables developers to quickly, easily and affordably use the company’s video chat APIs to embed enterprise-grade, real-time video communications at web scale into applications, business processes and IoT devices. The embedded video market is exploding as developers race to video-enable their apps. In a report* released earlier today IDC, a leading provider of global IT research and advice, estimates that the U.S. Video PaaS market will grow from $44 million in 2016, to $1.7 billion in 2020.
“Vidyo has been selected by market leaders in the largest growth areas in our Video PaaS market report, including the only embedded video in the leading electronic health records (EHR) systems, and is poised as a front runner to capitalize on the tremendous growth in this $1.7B market,” said Mark Winther, group vice president and consulting partner, Worldwide Telecommunications at IDC. “To broaden the market for its high-quality real-time video communications technology, Vidyo introduced a developer-friendly API cloud platform in early 2016. This makes Vidyo one of the first companies to enable comprehensive enterprise-grade multiparty video via an open API delivery system.”
“Our customers have seen first-hand the benefits of video-enabling their customer engagement, company collaboration, telemedicine, video banking and UCaaS,” said Eran Westman, CEO, Vidyo. “Video collaboration makes a meaningful difference in a company’s digital transformation and can increase patient satisfaction, customer loyalty and workforce collaboration, decrease time to delivery and directly impact a company’s bottom line. Vidyo.io empowers developers to quickly video-enable their applications with the same quality video technology used by some of the largest companies in the world.”
The IDC report includes that “Nearly every vendor today has APIs. These are positioned as the tools by which vendors’ products can be connected or integrated into third-party applications. But APIs are only a part of the story. The way to differentiate APIs is by the strength and richness of the platform surrounding APIs. This includes developer tools (sandbox, dashboards, and sample code), proof points (showcase of customer/partner use cases), platform quality (scalability and SLAs), support commitment (response times and escalations), and developer evangelism.”
Vidyo customers have used the company’s rich APIs and SDK to add face-to-face video communications across a broad range of applications including:
- TeleHealth – Vidyo’s embedded video conferencing platform powers the #1 healthcare app on the App store for the past two years, has video-enabled the largest EHR systems, and enables access to telemedicine to more than 50 million patients around the world. Vidyo’s platform is used in dozens of telemedicine use cases including telestroke, teleICU, diabetes, and healthcare access in rural communities.
- Video Banking – International banks of all sizes in Europe, Asia and Latin America have embraced face-to-face video banking for enhanced customer engagement to increase customer loyalty lost during the transition to online banking. Vidyo has been deployed with VIP/high net wealth individuals in private banking, mortgage, real estate, as well as bank-wide deployments to all customers for general banking needs.
- Field Services – A large multinational customer uses video-enabled smart glasses in a “See What I See” field services deployment to reduce cost and increase customer support. A large insurance company has embedded video into tablets for remote onsite adjustments and has shortened reimbursement periods, decreased cost and greatly increased customer satisfaction
Vidyo.io will be generally available this Fall. Developers can request an invitation now to participate in the Vidyo.io Beta.
*You can view the complete IDC Research Report, Video Communications Platform as a Service (IDC#US40958616, August 2016) on the growing Video PaaS market here.
*To read more about how Vidyo is enabling innovative applications today, read more on our blog from CEO, Eran Westman.