The Global Video Conferencing Market Analysis, 2020 market research report depicts a deep-dive market analysis of statistics of Global Video Conferencing market which consists of region-wise market size, market forecast, CAGR market segmentation, market share of various Levels of components, deployment type, enterprise size, type, application, end use, etc.
Global Video Conferencing Market Report Coverage
|Study Period||Historical Period: 2015-2019
Base year: 2019
Forecast Period: 2020-25
|Regions Covered||North America
Middle East Africa
|Unit Denominations||USD Million/Billion|
According to MarkNtel Advisors’ research report titled “Global Video Conferencing Market Analysis, 2020”, the Video Conferencing market across the globe is forecast to grow at the CAGR of 9.50% during 2020-25. Some of the key factors contributing to the growth of the Global Video Conferencing market are the rapid globalization and the growing need for workforce management from a remote location. Also, added benefits such as time and cost saving factor with regard to traveling and improved productivity are some of the key factors for the growth in the deployment of video conferencing solutions.
The COVID-19 pandemic impacted the global business environment and the organizations allow their employees to work from home for smooth business operations. So, there has been a surge in the demand of video conferencing solutions.. Therefore, the small-medium business organizations, as well as the employee interaction, would contribute to the demand for the video conferencing solutions for the flexibility and smooth business run which would contribute to the increasing market share in the forthcoming years 2020-25.
Furthermore, the surging demand for video conference solutions from various institutions, hospitals, and government & defense sectors for meetings, seminars, and classes are some of the key factors propelling the demand for video conferencing solutions.
Asia-Pacific to Soar with the Highest CAGR in Forthcoming Years
In 2019, North America acquired the major market share. The surging number of solution providers and emerging start-ups in countries such as the U.S and Canada are boosting the market growth. Furthermore, the surging adoption of video conferencing in education sector and the healthcare sector in the U.S is one of the key contributing factors. Also, the strategic alliances by the international players in the industry to expand geographical coverage in the region is boosting the sales of video conference solutions. For instance, Kinley and “Pexip AS” partnered in 2019 for the expansion of video conferencing business solutions in North America and EMEA. However, APAC is expected to witness a robust growth in the forecast period of 2020-25 owing to the increasing adoption of video conferencing by the small-medium enterprises in the developing countries.
Corporates to Capture Major Market Share
In 2019, the corporates segment acquired the major market share and the same trend is expected in the forthcoming years as well. The increasing need for reducing operations costs and effective communication from the remote locations are contributing to the increasing market share of corporates. However, the emphasis of players such as Huawei Technologies and Microsoft Corporation in the industry to provide video conferencing solutions especially for the corporates are adding pace to the market share growth. Furthermore, the healthcare sector is adopting video conferencing solutions due to the need for immediate medical assistance from a remote location coupled with the adoption of telemedicine services in countries such as the U.S, China, France, etc. are helping the market share to increase.
The hardware segment dominated the market in 2019, owing to the offering of technologically advanced hardware such as AI and facial recognition in cameras, microphones with better audio quality by the players in the industry. However, the need for consulting on deployment, maintenance, and repair, etc. are generating the need for services in the Video Conferencing market.
The large enterprises segment captured the major market share in 2019. The early adoption of any technology to remain upgraded and technologically advanced across industries makes the large enterprises the market dominator. The large enterprises require seamless cloud adoption due to the geographically scattered tendency of their business so, it is expected that in the forthcoming years the cloud deployment would dominate this segment. Furthermore, the telepresence type gathered the major market share in 2019 owing to the benefit such as the ability to support the business enablement, improved productivity, etc. However, the desktop segment is expected to exhibit significant growth in the near future due to cost-effectiveness and ease of use as stated in the MarkNtel Advisors’ research report “Global Video Conferencing Market Analysis, 2020”.
According to MarkNtel Advisors, the availability of numerous local and foreign players in regions makes the global industry highly competitive. The key players with a considerable share in the industry are Adobe Inc., Array Telepresence Inc., Avaya Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Logitech International SA, Microsoft Corporation, Polycom Inc., Vidyo Inc., West Corporation, etc.
The players are launching new products and doing strategic alliances to gain a competitive advantage in the industry.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Video Conferencing Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Video Conferencing Market during 2020-25?
A. The Global Video Conferencing Market is expected to growth at a CAGR 9.50 % during 2020-25.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating Global Video Conferencing market?
A. Adobe Inc., Array Telepresence Inc., Avaya Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Logitech International SA, Microsoft Corporation, Polycom Inc., Vidyo Inc., West Corporation, Zoom, etc., are the leading players in the Global Video Conferencing market.
Q. Which component type would emerge as an opportunity area for players in Global Video Conferencing Market?
A. Hardware segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which End-Use segment would emerge as an opportunity area for players in Global Video Conferencing Market?
A. Corporates grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Video Conferencing Market.