Global Video Conferencing Market by Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices, and Others(Display, Cables, Switches, Projector, & Sensors)], Software [On-premise, and Cloud], and Service [Professional, and Managed]), By Type (Room-Based, Telepresence, and Desktop), By End-user Industry (Corporate Enterprise, Education, Government, Healthcare, BFSI, Media & Entertainment and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa), Global Forecast to 2027

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SPER Market Research


Global Video Conferencing Market

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Global Video Conferencing Market by Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices, and Others(Display, Cables, Switches, Projector, & Sensors)], Software [On-premise, and Cloud], and Service [Professional, and Managed]), By Type (Room-Based, Telepresence, and Desktop), By End-user Industry (Corporate Enterprise, Education, Government, Healthcare, BFSI, Media & Entertainment and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa), Global Forecast to 2027
Published: April-2020 Report Code: IACT2003 Available Format: Pages: 1-124
Category : Information & Communications Technology
Global Video Conferencing Market: Overview
Video conferencing system means two or more individuals or groups in different places, through the transmission line and multimedia equipment, the sound, image and document data are transmitted in real-time and interactive communication, to achieve remote conference system equipment. The use of video conferencing is a bit like a telephone. In addition to seeing the people you are talking with and communicating with each other, people can also see the expressions and movements so that people in different places can communicate in the same conference room.
In the future, the use of video conferencing systems will further penetrate all walks of life. At present, the use ratio of financial, energy, communications, transportation, medical, education, and other key industry institutions has also continued to increase. Video conferencing, as the most advanced communication technology at present, can achieve high-definition remote conferences and offices with the help of the internet.


Global Video Conferencing Market: Insights
The global video conferencing market size was valued at USD 6,257.9 Million in 2019 and expected to generate USD 12,139.4 Million by 2027, registering at a CAGR of 8.20%, during the forecast period (2020-2027). It is primarily attributed to factors such as video conferencing conducting meetings using telecommunication technologies and involves a real-time, two-way transmission of audio and video content. It helps in faster decision-making and eliminates travel time and associated costs. It also helps to reduce operational and management costs, subsequently improving productivity. Additionally, the surge in demand for enterprises to reduce the cost of communication is the primary factor estimated to drive the global video conferencing market in the forecast span. Moreover, the swelling globalization, coupled with organizations shifting towards conference meetings to enable faster decisions and reduce traveling hassles, will augment the global video conferencing industry in the upcoming periods.
The International Telecommunication Union ITU has standardized video and audio communication and compatibility technologies. In these basic protocols, the encoding formats of voice, video, and digital signals, user control modes, and other requirements are also regulated. It can use in various aspects such as network video conferencing, collaborative office, online training, telemedicine, and distance education. It can widely use in government, military, enterprise, IT, telecommunications, power, education, medical, Securities, finance, manufacturing, and other fields
The surge in demand for video conferencing within organizations to enhance interaction and collaboration among geographically dispersed teams and gradually focusing on reducing communication cost, which led to the robust growth of the video conferencing industry in the next few years. Also, the growing adoption of cloud-based solutions and the emergence of 3D technology in video conferencing solutions will propel the demand for video conferencing in the next few years. Moreover, the upsurge in the adoption of video conferencing solutions by small and medium enterprises to managing the business in the global context are key factors projected to boost the video conferencing industry in the projected period.
Meetings are an essential part of achieving efficient management of enterprises and organizations. The video conference system has outstanding advantages, such as large capacity, strong mobility, and high security. It has fully used in various meetings, including daily meetings, high-level meetings, large-scale meetings, multinational meetings, mobile meetings, etc. The recent outbreak pandemic COVID-19 has caused an explosive growth of the video conferencing market, which has suddenly made the video conferencing industry a net red profession. Teleworking and video conferencing have become the forced first choice for most companies to resume work, and the development of cloud computing has spawned a revolution in video conferencing.
Additionally, the growing trend of the mobile workforce and Bring Your Device has led to widespread adoption of cloud-based video conferencing service within organizations will accelerate the growth of global video conferencing industry in the forecast period.
The SPER market research report of the Video Conferencing market includes all integrated approaches to the growth of the market, along with an accurate & elaborate analysis of the complete competitive situation of this market on a global level. Besides the current analytical & statistical account, the report cloaks the trends market drivers, challenges, potential opportunities, which affect the market. This market report discusses the present situation to predicted trends & aspects of the growth of the Video Conferencing market. Furthermore, it gives a dynamic overview & insights related to the market at both global as well as regional scales.

Global Video Conferencing Market: Components Insight
Based on the component, the global Video Conferencing Market bifurcated Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices, and Others (Display, Cables, Switches, Projector, & Sensors)], Software [On-premise, and Cloud], and Service [Professional, and Managed]. The Hardware segment will witness significant growth in the forecast period. It is primarily attributed to the huge adoption of the codecs among the enterprises and growing demand for peripheral devices, webcams, microphones, and other dedicated video conferencing devices.
The software segment will grow with a lucrative rate during the forecast period owing to the huge demand for cloud-based video conferencing solutions.

Global Video Conferencing Market: Type Insights
Based on the type, the global Video Conferencing Market bifurcated into Room-Based, Telepresence, and Desktop. The telepresence is likely to dominate the video conferencing market by 2027. It is owing to its benefits, such as helping enterprises to collaborate and communicate without the inconvenience and provides two-way real-time communication and enhance overall productivity.
The desktop segment will drive with a significant rate during the estimated period attributable to its ease-of-use and cost-effectiveness.

Global Video Conferencing Market: End-User Industry Insights
Based on the end-user industry, the global Video Conferencing market segregated into Corporate Enterprise, Education, Government, Healthcare, BFSI, Media & Entertainment, and Others. The Corporate Enterprise segment held the largest market share in 2019 and estimated to lead the market by 2027. It is due to the video conferencing helps in reducing travel and operational costs for small and large-scale enterprises and provide cost-effective, real-time, and long-distance communication.

Global Video Conferencing Market: Regional Insight
By geography, the global Video Conferencing market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s share in the video conferencing market by 2027. It is owing to the growing adoption of video conferencing solutions in various industry verticals, coupled with the presence of global players in the region.
The Asia Pacific likely to emerge as the fastest-growing region due to favorable government initiatives for modernizing ICT infrastructure and growing adoption of cloud-based video conferencing solutions.

The report presents a detailed assessment of the various factors influencing the market's trajectory into 2020 and 2027. It covers all the crucial information of the leading companies operating in the global Video Conferencing market. Besides highlighting the product offerings, the report also calculates revenue generated over the period and their position in the market.

REPORT HIGHLIGHTS
  • Overview of key market forces restraining and propelling market growth.
  • Provide demand, current & past status & also the forecasting up to 2027.
  • Provide complete overview including, component, end-user industry & forecast region.
  • Provide focused analysis of key service providers with their market share & also help to identify market competition landscape with SWOT analysis.
  • Historical, current, and projected market size in terms of value.
  • Analyse the global & regional potential market, advantages, risk & opportunity.
  • Identify significant factors and trends driving or inhibiting the market growth.
  • In-depth coverage of the complete market in terms of supplier, buyer, price, trend, growth & forecasting.
THE REPORT COVERS ANALYSIS OF VIDEO CONFERENCING MARKET, BY COMPONENT 
  • Hardware 
  • Software
  • Service 
THE REPORT COVERS ANALYSIS OF VIDEO CONFERENCING MARKET, BY TYPE
  • Room-Based
  • Telepresence
  • Desktop

THE REPORT COVERS ANALYSIS OF VIDEO CONFERENCING MARKET, BY END-USER INDUSTRY
  • Corporate Enterprise
  • Education
  • Government
  • Healthcare
  • BFSI
  • Media & Entertainment
  • Others
THE REPORT COVERS EXHAUSTIVE ANALYSIS ON
  • Market Segments
  • Market Dynamics
  • Brands in Market
  • Market Size
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved
  • Forecasting
  • Technology
THE REPORT INCLUDES REGIONAL ANALYSIS ON
  • North America (Canada, US, Mexico, & Rest of North America Available)
  • Asia-Pacific (China, India, South Korea, Japan & Rest of Asia Pacific Available)
  • Europe (Germany, Spain, France, United Kingdom & Rest of Europe Available)
  • Central & South America (Brazil, Argentina & Rest of South America Available)  
  • Middle East & Africa (GCC Countries, South Africa, & Rest of MEA available)
KEY PLAYERS OF VIDEO CONFERENCING MARKET
  • Adobe Systems Inc.
  • Avaya Inc.
  • BlueJeans Network
  • Cisco Corporation
  • Citrix Systems Inc.
  • Fuze Inc.
  • Google Inc.
  • Highfive
  • Huawei Technologies Co. Ltd.
  • KOLLECTIVE
  • Lifesize Inc.
  • LogMeIn Inc.
  • MediaPlatform
  • Microsoft Corporation
  • Pexip, Polycom Inc.
  • Premiere Global Services Inc.
  • ReadyTalk
  • uStudio Inc.
  • Other Prominent Players

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SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Global Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.



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