Statistics Analysis: At 19.8% CAGR, Video Conferencing Market Share to Hit USD 32.70 Billion By 2028
Overview
According to the latest research study, the report predicts the global size & share of Video Conferencing Market to reach around USD 32.70 Billion by 2028 from USD 7.75 Billion in 2020. The global Video Conferencing Market is anticipated to register a significant CAGR of 19.8% by 2028.
Video conferencing is an online technology that permits users from different locations to engage in face-to-face meetings without moving to an isolated area together. Uses for video conferencing include assembling meetings that are routine, arranging business deals, and interviewing job seekers. There are innumerable ways to use video conferencing technologies like job training conferences, company meetings, and talking to board members. The quality and stability of video conferences may alter with reliability and speed of the connection of data. Video conferencing can be conducted in several ways, like tablets, smartphones, and desktop computers.
More than audio conferencing, video conferencing is more engaging. Contenders in audio conferencing keep an eye on multitasking as they feel detached from other contestants in the meeting. With video, there is a compulsion to sustain eye contact that is virtual interpreting levels of engagement that are superior. When each convention representative is visible, there is an inclination to utilize communication skills that have been experienced in conversations that are face to face.
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· Covid-19 pandemic outbreak impact analysis included
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· 175+ pages research report
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· Includes renovated regional scrutinizing with the graphical representation of share, size, and trends.
· The report offers top market players their sales volume, business strategy, and revenue analysis
Key Offerings:
· Market size and forecast by revenue (2021—2028)
· Market dynamics – Prime trends, restraints, growth drivers, and opportunities of investment
· Market segmentation – A detailed analysis by source, product, distribution channel, and region
· Competitive landscape – vendors that are crucial and topmost
Important Questions Being Answered by The Market Report
· How much is the global video conferencing market desirable?
· What is the value of the global video conferencing market?
· Which is the leading element segment in global video conferencing in the market?
· Who are the top players?
· Which region is anticipated to hold the highest market share?
Top Market Players
· Amazon Web Services Inc.
· AURA Presence
· Avaya Inc.
· Barco NV
· BlueJeans Network Inc
· Cisco Systems Inc.
· Fuze Inc.
· Haivision Inc.
· HighFive Inc.
· Huawei Technologies Co. Ltd.
· Kaltura Inc.
· Kollective Technology Inc.
· Lifesize Inc.
· Logitech International S.A.
· LogMeIn Inc.
· Microsoft Corporation
· Pexip
· AS
· Plantronics Inc.
· Qumu Corporation
· Sonic Foundry Inc.
· StarLeaf Inc.
· Vidyo Inc.
· Zoom Video Communications Inc
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Video Conferencing Market: Growth Leading Factors
As an alternative to additional classrooms, several universities, schools, and colleges have started moving to distance learning. Presently with the influence of the pandemic, more educational academies cooperate with video communication providers to enhance learning that is remote. Therefore, in the current situation, educational institutions need to install sturdy software to dispatch a learning experience that is efficient. Additionally, several students may need software tools they need like Adobe, Microsoft Office, and other devices. These clarifications guarantee that students gain classes that are online from their own devices. It also permits the teachers to share screens, files, and documents while teaching.
The cloud deployment prototype involves providers like Infrastructure as a Service (IaaS) and Software as a Service (SaaS), with more end-users as government agencies, enterprises, and healthcare organizations. SaaS-dependent video solutions are positioned capitalizing on their clarity and deployment ease. Firms are considering the privacy policy and data security model of cloud service.
The upsurge of covid-19 has caused the dropping of international seminars, corporate events, product launches, trade shows, and investor presentations. Due to these factors, corporate organizations are concentrating on executing video communication solutions like Team, Zoom, and others to host such events, which has affirmatively impacted the growth of the market.
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Video Conferencing Market: Key Segmentation
· Insight by component, deployment, application, end-use, and region
Dependent on the component, the solution segment is anticipated to grow. The development in the acquisition of room conferencing meetings in the course of lockdown has affirmatively influenced the demand for single and multi-codec ends points like cameras, phones, and mic. Based on the deployment model, the cloud segment has anticipated the account for the most significant share because of investment costs that are low and sustenance. Dependent on application, SMEs are forecast to better their customer relationship, the interaction between marketing and sales team, new product launches, and remote location. Therefore, SMEs are expected to see a growth that is strong. Based on end-use, the healthcare sector will dominate as medical aid required by the patient in a remote area is gaining momentum. There is a growth in the concentration of medical organizations offering training of video conferencing solutions amidst employees.
By region, North America is evaluated as having the most significant share in the global video conferencing market. This growth is because of the prevalence of IT companies embracing technology that is the latest and growing reliance on tools of video conferencing from SMEs. The Asia Pacific is also leading with a substantial share in the market because of increasing awareness regarding internet service usage growing number of start-ups appealing to the people with video conferencing platforms.
Browse the full “Video Conferencing Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, Service); By Deployment (On-Premise, Cloud); By Application (Consumer, Enterprise); By End-Use; By Region; Segment Forecast, 2021 - 2028” Report at https://www.polarismarketresearch.com/industry-analysis/video-conferencing-market
The market primarily depends on component, deployment, application, end-use, and region
Video Conferencing Market: By Component
- Hardware
- Software
- Service
Video Conferencing Market: By Deployment
- On-Premise
- Cloud
Video Conferencing Market: By Application
- Consumer
- Enterprise
Video Conferencing Market: By End-Use
- Corporate
- Education
- Healthcare
- Government & Defense
- BFSI
- Media & Entertainment
- Others
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