Albany, NY, March 2, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Enterprise Media Gateway Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", the global enterprise media gateway market was valued at US$ 1.89 billion in 2013 and is estimated to grow at a CAGR of 3.1% during the forecast period from 2014 to 2020. The growing adoption of enterprise media gateways in telecom and IT industries, and banking and insurance sector has emerged as the most significant growth driver for the enterprise media gateway market. In 2013, North America was the largest market for enterprise media gateways and accounted for the share of around 32% in terms of revenue. This was attributed to the significant demand for enterprise media gateways due to increased internet penetration and early adoption of technology.
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Medium-sized enterprise segment was the largest segment in terms of revenue in 2013 owing to the high number of industries in this segment resulting into large count of employees. In recent years, the market for small-sized enterprises is increasing rapidly as compared to medium and large-sized enterprises owing to the escalating number of startups across the world. Small-sized enterprise segment is expected to be the fastest growing segment for the enterprise media gateways over the forecast period from 2014 to 2020, growing at a CAGR of 3.7% during the period from 2014 - 2020. Readiness to adopt new technology is the major factor driving the adoption of advanced IP based telecommunication solutions among small-sized enterprises creating the demand for media gateways.
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Telecom and IT was the largest and fastest growing end-use industry segment for enterprise media gateway market during the forecast period from 2014 to 2020, growing at a CAGR of 4.1%, followed by government sector, and banking and insurance industry. Banking, financial services and institutions (BFSI) sector in Asia Pacific is developing rapidly in last few years. Growing adoption of enterprise media gateways for IP based solutions among small-sized and medium-sized enterprises is driving the market growth in telecom and IT industry. Moreover, the adoption of IP based communion solutions and VoIP services among banking and insurance sector, and telecom and IT industry is increasing in Asia Pacific region which is driving the enterprise media gateway market in Asia Pacific region.
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Some of the key players in the Global Enterprise Media Gateway Marketinclude AudioCodes Ltd., Avaya Inc., Cisco Systems Inc., GENBAND, Alcatel-Lucent SA, Grandstream Networks, Inc., ADTRAN, Inc., Siemens AG, Huawei Technologies Co. Ltd. and ZTE Corporation.
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The global enterprise media gateway market has been segmented as follows:
Enterprise Media Gateway Market, by Enterprise Type
- Small-sized Enterprises
- Medium-sized Enterprises
- Large-sized Enterprises
Enterprise Media Gateway Market, by End-use Industry
- Telecom and IT
- Media and Entertainment
- Banking and Insurance
- Others (Defense and Hospitality)
Enterprise Media Gateway Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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Source:Transparency Market Research