Global Video Conferencing MarketAugust 27, 2021 ⚊ 7 Min read ⚊ Views 212 ⚊ BUSINESS
The Global Video Conferencing Market size is expected to reach US$ XX Bn. by 2026 from US$ XX Bn. in 2019, at a CAGR of 10.7% during the forecast period.
The global Video Conferencing market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Video Conferencing report also provides trends by market segments, technology, and investment with a competitive landscape.
Overview of Video Conferencing:
Video conferencing is a live, visual link over the internet that simulates a face-to-face conference between two or more remote individuals. Video conferencing is useful because it connects people who are not normally being able to meet face to face.
Video conferencing services have numerous advantages in the workplace. They have the potential to boost employee productivity while also improving communication and interaction with coworkers, partners, and customers.
Global Video Conferencing Market Dynamics:
Over the projected period, factors such as company globalization, geographically dispersed operations, and the increased acceptance of remote working methods are likely to fuel market growth. The fast adoption of video conferencing solutions in the telemedicine and education sectors are expected to contribute significantly to the market’s growth.
Furthermore, lockdowns enacted around the world in response to the COVID-19 epidemic has resulted in a tremendous increase in demand for video conferencing and teleconferencing technologies as organizations and individuals seek to stay connected. On the other hand, as enterprises and individuals strive to stay connected, lockdowns enforced around the world in reaction to the COVID-19 epidemic has led to a massive surge in demand for video conferencing and teleconferencing solutions.
The market is likely to grow at a faster rate as people use video banking solutions as a result of the increased popularity of mobile and internet banking. Customers can save time and money by using video banking options. Furthermore, video banking enables end-users to communicate with faraway clients and coworkers in a simple, secure manner, enhancing operational efficiency. For example, National Westminster Bank (RBS-NatWest) created a new video banking channel for small and medium-sized businesses in July 2019. (SMEs). Using a mobile device, PC, or tablet, enterprises can set up secure video conferences with NatWest relationship managers and numerous participants.
Top 10 Video Conferencing Software in the Market:
• Microsoft Teams
• Cisco Webex Meetings
• BlueJeans Meetings
• Google Hangouts Meet
• Dialpad UberConference
Global Video Conferencing Market Segmentation:
Global Video Conferencing Market
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Based on the enterprise size, the global video conferencing market has been segmented into large enterprises and small & medium enterprises. In 2019, the large enterprise’s segment accounted for almost XX% of total revenue. Large businesses are the primary users of video conferencing services since they want reliable and secure solutions. Large corporations place a premium on corporate network performance while maintaining close integration with newer technologies like SD-WAN.
Benefits Offered in Enterprises:
1. Make the Digital Workforce a Reality:
Video conferencing software is not only a basis for enabling today’s digital workforce, but it also fosters a more collaborative meeting culture in an enterprise. Video meetings allow teams to maintain human connections regardless of their physical location, which helps to speed up decision-making and boost worldwide collaboration.
2. Increase the Reliability of Communication:
Video conferencing allows teams to connect quickly and securely. As video becomes more of a business-essential function, it’s crucial to prioritize enterprise-class service and support reliability in performance optimization.
3. Increase the Value of the Product and Reduce Redundancy:
Enterprises are replacing their old audio or web conferencing providers with full video conferencing systems that include audio conferencing, screen sharing, chat, meeting recording, and event live streaming.
For end-users of the solution, the total cost of ownership (TCO) of maintenance and licensing for many vendors just adds extra expenditures and complexity.
Global Video Conferencing Market 1
Global Video Conferencing Market Regional Insights:
Global Video Conferencing Market 2
In 2019, North America dominated the video conferencing industry, with a revenue share of more than 38.12%. In terms of video conferencing solutions adoption, the regional market is mature. Upgrades to existing equipment and subscriptions to cloud-based services, on the other hand, present a growth opportunity in the region. By inventing and supplying reliable technology products to clients, hardware providers play a crucial role in supporting the video conferencing market’s growth. On the other side, software developers are always focused on improving existing software with novel features, which is attracting a major percentage of end-users.
Regional growth is likely to be aided by increased demand for continuous access to high-quality internet and visual meetings. The existence of many prominent companies, together with the rising popularity of Bring Your Own Device (BYOD) solutions, which has resulted in the widespread use of webcams and headphones are projected to propel market growth even further. In addition, with the innovations in cloud technology, the video conferencing market companies in this area are seeing a surge in demand for their cloud-enabled solutions.
Video-conferencing Surge in Healthcare Sector:
The healthcare sector in the region is quickly developing, mainly to the fact that healthcare institutions treat a large number of patients from various areas. Furthermore, both patients and doctors strongly advocate for the usage of online consultations. Hospitals and healthcare facilities are setting up virtual consultation rooms with audiovisual technology in an attempt to treat patients who are located remotely.
Healthcare institutions also use video conferencing capabilities to host several webinars and seminars. As a result, the modernization of healthcare practices is also helping to drive market growth in this region.
The objective of the report is to present a comprehensive analysis of the Global Video Conferencing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Video Conferencing Market dynamics, structure by analyzing the market segments and project the global Video Conferencing market size. Clear representation of competitive analysis of key players By Component, price, financial position, product portfolio, growth strategies, and regional presence in the Global Video Conferencing Market make the report investor’s guide.
Global Video Conferencing Market Scope: Inquire before buying
Global Video Conferencing Market 3
Global Video Conferencing Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Video Conferencing Market Key Players
• Cisco Systems, Inc.
• Verizon Communications Inc.
• Polycom Inc.
• Alphabet Inc.
• Adobe Systems
• Microsoft Corporation
• Vidyo Inc.
• Zoom Video Communication Inc.
• Logitech International S.A.
• Panasonic Corporation
• ZTE Corporation
• Fuze Inc.
• Huawei Technologies Co. Ltd.
• Avaya Inc.
• Facebook, Inc.
• Lifesize Inc.
• Enghouse Systems
• Sonic Foundry
• Kaltura About Maximize Market Research:
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