The global Video Conferencing market size is expected to be worth around US$ 8.57 billion by 2028, according to a new report by Vision Research Reports.
The global Video Conferencing market size was valued at US$ 3.86 billion in 2020 and is anticipated to grow at a CAGR of 9.8% during forecast period 2021 to 2028.
Growth Factors
Growing usage of these solutions in startups, educational institutes,and organizations, especially in the emerging countries of Asia Pacific, are expected to drive the market. Moreover, proliferation of 4G-enabled mobile devices and rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.
Recently, majority of the countries in Asia Pacific witnessed the development of robust digital communication infrastructure that created the need for deployment of these systems. Various telecom companies are providing funding to the manufactures for the development of these systems, which is expected to positively impact the market growth. For instance, in February 2018, NTT Limited provided funding worth USD 32 million to Highfive for the development of integrated hardware and software video conferencing solutions.
Growth of the telemedicine industry and increased penetration of online education in developed as well as emerging economies, such as U.K., U.S., Japan, India, and China, are anticipated to play a pivotal role in driving the demand for these systems over the forecast period. Additionally, it is anticipated that growing focus of electronic companies, such as Koninklijke Philips N.V. and Siemens, on establishing partnerships with market players will drive the video conferencing market. For instance, in March 2017, Koninklijke Philips N.V. and Vidyo Inc. collaborated to launch Philips IntelliSpace eCareManager telehealth platform, which allowed doctors to remotely monitor patients in the Intensive Care Unit (ICU).
Report Highlights
The hardware segment dominated the market in 2019 owing to the emergence of, which has enabled the rapid integration of hardware with each other and into cloud-based software solutions. This factor has enhanced the interoperability among devices of various companies. Furthermore, growing emphasis of camera manufacturers, such as AVer Information Inc., on the development of video conferencing cameras with features, such as facial recognition and artificial intelligence, is boding well for the segment. For instance, in June 2019, AVer Information Inc. launched their CAM540 - an advanced 4K video conferencing camera that features SmartFrame function, which detects faces to quickly fit the meeting participants on the receivers’ screen. Furthermore, in recent years, the microphones have witnessed a surge in demand on account of increasing usage of these systems in coaching activities for various sports, such as cricket, football, and badminton.
The large enterprises segment is driven by increasing adoption of video conferencing solutions among large enterprises to establish collaborations amongst employees located in various locations. In the recent years, various companies in the IT and telecom sector have established long-term agreements with service providers, such as Cisco Systems, Inc., and Logitech S.A., further fueling the segment growth. For instance, in June 2016, Tech Mahindra provided a contract to Cisco Systems, Inc. under which Cisco Systems, Inc. will manage the former company’s video conferencing system for a period of seven years.
The corporate segment dominated the market in 2019 as the video conferencing system acts as an effective communication tool and helps reduce travel and operational costs for small as well as large scale enterprises. Furthermore, usage of this technology has increased significantly in corporate companies for cost-effective, real-time, and long-distance communication and for augmenting the productivity of various teams based in multiple locations. Moreover, introduction of VoIP has allowed companies to make use of the underlying network infrastructure that consists of leased lines for the purpose of free communications. Furthermore, companies in the market such as Microsoft Corporation and Huawei Technologies Co., Ltd. are emphasizing on the development of these systems, especially for corporate companies. For instance, in March 2019, ezTalks launched ezTalks Meetings, a video collaboration tool that includes a whiteboard that allows participants to communicate through drawing. It also includes a screen sharing feature allowing managers to track the performance of their resources.
The cloud segment is anticipated to witness remarkable growth over the forecast period. Cloud-based solutions offer increased convenience to end-users by enabling easy access to the video conferencing platform through multiple channels, such as mobiles and laptops. Furthermore, service providers are emphasizing on the adoption of a software-as-a-service platform for the provision of video conferencing services that has attracted a large number of small- and medium-scale enterprises. Moreover, growing popularity and adoption of cloud-based solutions owing to the development of better encrypted and password-protected solutions is expected to enhance the growth of the segment. Additionally, the ease provided by cloud-based deployment for up-gradation of services while eliminating the need to upgrade the hardware is anticipated to boost the segment growth.
North America is leading the market owing to the presence of well-established businesses and high technology adoption in the region. As the U.S. and European markets are relatively mature in terms of the adoption of these systems, they are expected to witness demand either for upgradation or replacement of systems. Increased demand for visual meetings and continuous access to high-quality internet have spurred the growth of the market in U.S. North American companies are the early adopters of emerging technologies, and hence the region is expected to maintain is lead over the forecast period. Certain enterprises in the region provide innovative services, such as digital tours of venues. For instance, the Vancouver Biennale, a public art exhibition, offers artwork tours via mobile phones. Moreover, growing adoption of virtual private networks across business enterprises and educational universities is anticipated to propel the regional market growth.
Key Players
Adobe Inc.; Array Telepresence Inc.; Avaya Inc.; Cisco Systems, Inc.; Huawei Technologies Co., Ltd.; Logitech International S.A.; Microsoft Corporation; Plantronics, Inc.; Vidyo Inc.; and West Corporation
Market Segmentation
Component Outlook
Hardware
Camera
Microphone & Headphone
Others
Software
Services
Professional Service
Managed Service
Deployment Outlook
On-premise
Cloud
Enterprise Size Outlook
Large Enterprises
Small & Medium Enterprises (SMEs)
End-use Outlook
Corporate
Education
Healthcare
Government & Defense
BFSI
Media & Entertainment
Others
Regional Outlook
North America
The U.S.
Canada
Europe
The U.K.
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa (MEA)
The Video Conferencing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Video Conferencing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Video Conferencing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Video Conferencing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Video Conferencing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Video Conferencing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Video Conferencing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Video Conferencing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Video Conferencing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Video Conferencing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Video Conferencing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Video Conferencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Video Conferencing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Video Conferencing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Video Conferencing market. These factors have benefited the growth of the global market for Video Conferencing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Video Conferencing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Video Conferencing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers