NEW YORK, July 13, 2022 /PRNewswire/ — Data Bridge Market research has recently published the comprehensive business research on “Global Video Conferencing Market“ includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Video Conferencing market research report has been prepared with the systematic gathering and evaluation of market information which is presented in a form that explains various facts and figures to the business. The market data presented in the report helps to recognize different market opportunities present internationally. This business document provides exact information about market trends, industrial changes, and consumer behaviour etc. Adopting such market survey report is always beneficial for any company, whether it is a small scale or large scale, for marketing its products or services. Analytical study of the universal Video Conferencing market report aids in formulating growth strategies to augment sales and build brand image in the market.
The video conferencing market was valued at USD 28.87 billion in 2021 and is expected to reach USD 41.41 billion by 2029, registering a CAGR of 11.30% during the forecast period of 2022-2029. “Hardware” accounts for the largest application segment in the respective market owing to the rise of the Internet of Things. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Video Conferencing refers to a technology that assists users in conducting face-to-face meetings in various locations without the need to move to a single place together. The use of video conferencing includes negotiating business deals, negotiating business deals, and holding routine meetings.
Video conferencing is being highly deployed due to its various benefits, such as saves time, promotes collaboration, strengthens productivity and minimizes travel expenses. The technology enables the ability to encourage all those benefits and also does not require constant travel for face-to-face communication.
Major Market Competitors/Players
- Microsoft (US)
- Huawei Technologies Co., Ltd. (China)
- Cisco Systems, Inc. (US)
- Adobe. (US)
- Zoom Video Communications, Inc. (US)
- Google LLC (US)
- Avaya Inc. (US)
- LogMeIn, Inc. (US)
- Logitech. (US)
- Barco. (Belgium)
- StarLeaf. (UK)
- Pexip® AS (Norway)
- Amazon Web Services, Inc. (US)
- Blue Jeans Network Inc. (US)
- Enghouse Systems Limited (Canda)
- Qumu Corporation (US)
- Lifesize (US)
- Kaltura, Inc. (US)
- Kollective Technology, Inc. (US)
- Sonic Foundry (US)
- Fuze inc. (US)
- Microsoft partnered with SAP’s intelligent suite of Solution in January’2021. The partnership aims at building new integrations between Microsoft Teams and SAP Solution, such as SAP SuccessFactors, SAP Customer Experience and SAP S/4HANA.
- Zoom Video Communications joined with Lumen in September’2020. The partnership allows Lumen to offer Zoom as part of its Unified Communications and Collaboration Suite. The partnership improves user experience for the Unified Communications and Collaboration Suite and customer reach for Zoom.
Critical Insights Related to the Video Conferencing Included in the Report:
- Exclusive graphics and Illustrative Porter’s Five Forces analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Market Segmentation: Global Video Conferencing Market
- Multi point Control Unit
- Hard Codec
- Peripheral Devices
- Corporate Communications
- Training and Development
- Marketing and Client Engagement
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Geographical Breakdown and Analysis:
This relevant study includes a thorough reference of vivid geographical spectrum, highlighting crucial elements such as notable growth hotspots, vendor investments pertaining to advertising and promotion, product and service portfolio expansion, technological milestones and consequent customer reactions.
The report broadly segregates this market into specific regional pockets comprising North America, Europe, Asia-Pacific, South America & Middle East and Africa.
Further in the report, readers are offered high end market relevant details bordering sales performance and profit generation across specific geographical region.
Besides analyzing investment returns across each geographical pocket, the report also proceeds with unravelling minute details on customer behavior, purchase tendencies as well as swift transitions in choices, based on which frontline players may re-assess growth objectives for long-term stability.
Video Conferencing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Internet of Things
The rise in the penetration of Internet of Things across the globe acts as one of the major factors driving the growth of video conferencing market. The robust urbanization along with the increased command of high-speed data connectivity among consumers have a positive impact on the market.
The increase in preference for professional video conferencing depending on the bandwidth accelerate the market growth. High bandwidth is known to video quality. Most of the standard Video conferencing systems offer up to 2 Mbps, including IP bandwidth.
Use of Telepresence
The rise in the use of telepresence for bridging communication gap between users further influence the market growth. The technology is beneficial in the use of the latest HD audio and video technology, furnishings, interior design and media technology. The high availability of this telepresence offers safest, robust and reliable method of transport in the world.
Additionally, rapid digitization, surge in investments, increased consumer spending and change in lifestyle positively affect the video conferencing market.
On the other hand, use of Voice over Internet Protocol (VoIP) is expected to obstruct market growth. Also, rapid deployment of 5G offering innovations in telepresence with holographic conferencing capabilities and Ultra HD video calling will further expand the market.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Video Conferencing Market Landscape
Part 04: Global Video Conferencing Market Sizing
Part 05: Global Video Conferencing Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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