Category : ICT | Published at : June-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global video conferencing market is anticipated to grow at a CAGR of around 10.2% during the forecast period 2020 to 2027 and to reach around US$ 8.3 Bn by 2027.
Market Dynamics
Increasing demand communication platform that is reliable, efficient, and has two-way transmission of audio and video content from end use industries is resulting in increasing demand for video conferencing solution which is a major factor expected to drive the growth of global market. In addition, due to increasing pandemic effect across the globe, many industries approach towards adoption of work-from-home culture is another factor expected to increase demand for video conferencing solution supporting the growth of target market. In 2020, Google as a safety precaution to the pandemic declared that work-from-home policy to be extended till 2021. According to Apptopia, Inc. mobile application company Zoom application was downloaded 2.13 Mn times around the world on 23 March 2020.
Major player are focused on business expansion through strategic merger and acquisitions in order to increase the profit ratio is another factor expected to further support the growth of target market.
- In 2020, Verizon acquired BlueJeans Network a service provider of video conferencing platform. This acquisition is expected to help the company to expand the product portfolio and enhance the profit ratio.
In addition, players approach towards product development, coupled with introduction of innovative solution is expected to impact the growth of target market positively.
- In 2019, Avaya launched a cloud-based video conferencing and collaboration service. This is expected to increase the customer base and enhance the company profit.
- In 2020, Kaltura, A leading service provider of offers cutting-edge video collaboration launched Kaltura Meetings that offers reliable, scalable, and secure video conferencing solution. This is expected to increase the product portfolio and enhance the customer base.
- In 2019, Zoom a cloud video conferencing company launched a series of new products and features with an aim to expand its ecosystem on both the hardware and software fronts.
However, factors such as rising concern related to data theft and high cost and complexity of solutions are expected to hamper the growth of global video conferencing market. In addition, high volatility in competitive landscape is another factor expected to challenge the growth of target market.
Rapid advancements in application with advanced features along with enhanced safety is major factor expected to create new opportunities for players operating in the target market over the forecast period.
Video Conferencing Market Segment Analysis, 2019
The global video conferencing market is segmented into component, deployment, enterprise size, and end use. The application segment is further bifurcated into corporate, education, healthcare, government & defense, BFSI, media & entertainment, and others. Among end use the software segment is expected to account for significant revenue share in the global market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to rising demand from various end use industries. In addition, availability of advanced infrastructure in order to facilitate the adoption of advanced communication solutions is another factor expected to further support the growth of target market in this region.
Asia Pacific is expected to witness faster growth in the near future owing to industries approach towards adoption of work-from-home culture. In addition, strategic business development activities by major players in order to increase the business presence is another factor expected to further support the growth of target market in this region.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Video Conferencing Market |
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Analysis Period |
2016 – 2027 |
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Base Year |
2019 |
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Forecast Data |
2020 – 2027 |
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Market Stratification |
Component, Deployment, Enterprise Size, End Use and Geography |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Video Conferencing Market (Component: Hardware, Software, and Services; Deployment Mode: On-Premises and Cloud; Enterprise Size: Large Enterprise and Small & Midsize Enterprises; End Use: Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global video conferencing market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global video conferencing market segment by component, deployment, enterprise size, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global video conferencing market size and segment markets by component, deployment, enterprise size, end use and geography along with the information on companies operating in the market. The video conferencing market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Huawei Technologies Co., Ltd., Logitech International S.A., Adobe Inc., Array Telepresence Inc., Avaya Inc., Cisco Systems, Inc., Microsoft Corporation, Plantronics, Inc., Vidyo Inc., Zoom Video Communications, Inc., and West Corporation.
Market Segmentation
Market By Component
Hardware
- Camera
- Microphone & Headphone
- Others
Software
Services
- Professional Service
- Managed Service
Market By Deployment Mode
- On-premise
- Cloud
Market By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
Market By End Use
- Corporate
- Education
- Healthcare
- Government & Defense
- BFSI
- Media & Entertainment
- Others
Market By Region
North America
- US
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest if Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Meddle East & Africa
Frequently Asked Questions
Increasing demand communication platform that is reliable, efficient, and has two-way transmission of audio and video content from end use industries is resulting in increasing demand for video conferencing solution which is a major factor expected to drive the growth of global market.
By end use the software segment is expected to account for significant revenue share in the global market.
The global video conferencing market in 2027 is expected to be worth above US$ 8.3 Bn.
The CAGR of the global video conferencing market from 2020-2027 is above 10.2%.
Some of the players considered in the report scope are Microsoft Corporation; Plantronics, Inc.; Vidyo Inc.; and West Corporation.
The market in North America is expected to account for significant revenue share owing to rising demand from various end use industries.
Asia Pacific is expected to witness faster growth in the near future owing to industries approach towards adoption of work-from-home culture.
