The GMI Research expects the video conferencing market to expand at a significant rate. From a regional perspective, the Asia-Pacific is expected to lead to market due to the increasing number of small and medium-sized start-up companies, rising penetration of high-speed internet connectivity, and the growing number of companies in several industries, such as entertainment and telecommunication.
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Video Conferencing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global video conferencing market size is projected to experience strong demand over the coming years due to the increasing number of seminars, conferences for routine meetings, international online workshops, negotiating business deals, international online workshops, and job interviews of candidates by business enterprises. Moreover, the strong demand for video conferencing from the healthcare sector for online consultation and the education industry for an academic conference, induction program, teacher’s training program, and webinar for online education is further augmenting the growth of the market.
The rapid technological advancements such as cloud-based Virtual reality, augmented reality, artificial intelligence (AI), and Internet of Things (IoT) help in enhancing the quality of video and better conferencing experience for users. This factor will bring various new opportunities for the market during the forecast period. Additionally, the high adoption of the work from the home trend by business companies is mainly owing to the emergence of the COVID-19 pandemic that is expected to propel the growth of the video conferencing market share in terms of revenue. On the other hand, the factors restraining the market growth include the high initial investments in the deployment, deployment, and maintenance of video conferencing solutions. Furthermore, the increasing concerns regarding the data privacy and security of information will hinder the growth of the market in the upcoming years.
Component Segment Drivers
Based on components, the solution segment is projected to dominate the market during the forecast period due to the strong demand for video collaboration solutions, such as Skype, Zoom, Google Hangouts, Microsoft Teams, Cisco WebEx. Furthermore, video conferencing solutions provide high productivity, reduce travel expenses, encourage collaboration, and save time, which will bolster the video conferencing market’s growth in the upcoming years.
Video Conferencing Market’s leading Manufacturers:
- Zoom Video Communications, Inc.
- AVer Information Inc.
- Cisco Systems Inc.
- Alphabet Inc.
- Microsoft Corporation
- Verizon Communications Inc.
- Adobe, Inc.
- Logitech International S.A.
- Panasonic Corporation
- ZTE Corporation
Video Conferencing Market Segmentation:
Segmentation by Component:
- Solution
- Services
Segmentation by Conference Type:
- Telepresence System
- Integrated System
- Desktop System
- Service-Based Video Conferencing
Segmentation by Deployment:
- Cloud
- On-Premises
Segmentation by Enterprise Size:
- SMEs
- Large Enterprises
Segmentation by Application:
- Small Rooms
- Huddle Rooms
- Middle Rooms
- Large Rooms
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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