Oct-2020: Avaya teamed up with NVIDIA, an American multinational technology company. Key players operating in the industry include Google Inc., Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Systems Inc., LogMeIn Inc., Citrix Systems, Inc., Fuze Inc., Highfive, Microsoft Corporation, Premiere Global Services Inc., Huawei Technologies Co., Ltd., KOLLECTIVE, Lifesize Inc., MediaPlatform, Pexip, Polycom Inc., ReadyTalk, uStudio Inc., Zoom Video Communication Inc., Vbrick, and Vidyo Inc. There were about 5.5 million small businesses in the UK at the start of 2021 and SMEs held more than 99% of the business population (5.6 million businesses). What is the current size of video conferencing market? It develops virtual interactions more organic & engaging, complementing the global shift into a better hybrid model of work, learning and life. USA: +1-302-846-7766 In U.S. video conferencing market, the small room application segment accounted 40% market share in 2021. Real-time visual conferences among one or more users are referred to as video conferencing engagements. The growing demand for unified communication solutions has led the manufacturers towards the development of more advanced communication solutions. Huawei IdeaHub is a new productivity tool Huawei made to develop an all-scenario smart office in this Cloud era. We offer report based on sub segments as well. 244 Fifth Avenue, Suite 1407 New York, N.Y. 10001 United States (U.S), Global Video Conferencing Market size to reach USD 21.8 Billion by 2027, Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape, Component, Deployment Type, Application, Industry Vertical, Region, US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, The rising adoption of cloud-based solutions among companies, Increasing concerns regarding privacy and security. Based on Component, the market is segmented into Hardware, Solution and Services. Asia-Pacific region is estimated to record the fastest growth rate during the forecast period. expert team of researchers can create market Precedence Research. The global video conferencing market size is projected to register a CAGR of 12.6% during the forecast period, reaching 19.1 Billion by 2027 from an estimated USD 10.6 billion in 2022. It is designed for a flexible and hybrid workforce, the robust and intuitive RingCentral Rooms service would be built into the easy Poly Studio X all-in-one video bars. Moreover, the technologies have helped companies to incorporate advanced features to their existing video conferencing products & solutions and provide an enhanced meeting experience to the end-users. The Asia Pacific region is expected to grow at a rapid pace. The global video conferencing market size was estimated at USD 6.85 billion in 2021 and is projected to be worth around USD 18.56 billion in 2030, with a registered CAGR of 11.71% during the projected timeframe 2022 to 2030. Companies Mentioned Adobe Inc. AURA Presence, LLC. Small businesses adopting cloud-based collaboration solutions for cost-effectiveness will boost the cloud-based virtual collaboration market demand. It helps healthcare providers in patient care and telemedicine, healthcare administration applications, and medical education to deliver improved patient care by offering them enhanced communication options. Malaysia has a market share of 74% for Google Meet, followed by Taiwan with 61% and the Phillippines also at 61%. Base Year. This acquisition would help Adobe with more efficiency, collaboration and productivity benefits to marketing teams that are challenged with siloes work management solutions. This partnership focuses on enabling users to add Amazon Chime to their Comcast bill. The global Video Conferencing Endpoint market size is projected to reach multi million by 2028, in comparision to 2021, at unexpected CAGR during 2022-2028 (Ask for Sample Report). More? Asia Pacific video conferencing market size is expected to achieve 26% CAGR during the forecast timeframe, propelled by progressive government initiatives in the region. The report is assembled to comprise qualitative and quantitative elements of Video Conferencing industry including: market share, market size (value and volume 2017-2021, and forecast to 2030) that . Moreover, Asia Pacific is expected to observe a high CAGR in the global market in 2020. Video Conferencing Market Size And Forecast Video Conferencing Market size was valued at USD 4.83 Billion in 2021 and is projected to reach USD 11.02 Billion by 2030, growing at a CAGR of 9.6% from 2022 to 2030. Globally, governments from the different geographic regions have enforced stringent lockdowns and social distancing policies to control or mitigate the spread of novel coronavirus, which are now widely acknowledged as the most effective way to combat the pandemic. This growth is attributed to the growing demand for services regarding employee training, project consulting, and deployment of the latest solutions. Visual conferencing technology facilitates the transmission of video and audio information, allowing users to connect in real time. Nutrition & Animal Feed, HVAC This segment is witnessing an increasing adoption of these solutions due to the growing requirement for immediate medical assistance to patients who are located in remote locations. Global Enterprise Video Conferencing Market Size, Forecast, and Trend Highlights Over 2023 - 2035. Under this collaboration, Avaya integrates the powerful cloud AI solutions from NVIDIA to boost the impact & value of audible, visual & collaborative experiences via the Avaya Spaces app. In respect of deployment, the on-premise segment held the largest market in 2021, contributing for around 60% of total revenues. The global video conferencing market size was estimated around USD 4 billion in 2019 and projected to grow at the CAGR of 8.6% during the forecast period 2020-2027. The demand for video conferencing in the region is anticipated to increase over the forecast period, owing to the extensive usage of technologies, including cloud computing, IoT, and AI to effectively manage connected devices, coupled with the huge proliferation of 4G and 5G networks that present huge opportunities for the acceptance of the video conferencing. Due to competition for conference video endpoints, which are room-based equipment solutions deployed and installed in meeting spaces, the enterprise segment secured a sales portion of more than 86% in 2021. The market is projected to grow from USD 6.87 billion in 2022 to USD 14.58 billion by 2029, exhibiting a CAGR of 11.3% during the forecast period. (TrueList) . Nov-2020: Huawei unveiled its global video conferencing solution, Huawei Cloud Meeting in the Asia Pacific region. The technology is often considered convenient for business users in several countries as it saves expenses, time, and aggravations regarding business travel. Sustainable & Smart Technologies The rising demand for advanced video conferencing solutions is surging the growth of the market. & Transportation, Bulk In addition, more than 50 innovations introduced into three groups including effortless collaboration, intelligent customer experiences, and smart hybrid work experiences, everything based on the rock-solid safety and privacy synonymous with Cisco. All rights reserved, Historical Data: Growth Drivers The global video conferencing market size was estimated at USD 6.85 billion in 2021 and is predicted to touch around USD 18.56 billion by 2030 with a CAGR of 11.71% from 2022 to 2030. The availability of big significant corporations such as Cisco Systems, Inc., Microsoft Corporation, Zoom Video Communications, Inc. and many more, and even the rapid adoption of technological solutions, are boosting market for these video conferencing solutions in the United States and Canada. The desktop segment is estimated to observe nearly 27% gains during 2021-2027. This acquisition aimed to improve Cisco's Webex meetings, contact centre, calling, and other voice assets with a strong transcription service, which integrates AI and Automated Speech Recognition (ASR) to unleash the power of any collaboration, such as meetings and calls. The rising adoption of video conferencing solutions among various large enterprises to set up a communication channel among their employees resides in numerous locations is driving the large enterprises segment. Component (Hardware, Software, Services), Type, Application and Region, Growing demand for unified communication in the U.S. and Europe, Increasing trend of work from home and online learning globally, Demand for high-speed communication infrastructure in Asia Pacific, Increasing trend for cloud applications in Latin America, Rising need to reduce communication cost among organizations. The enhancement in desktop features, such as touch screen control, in-built stereo speakers, faster processing chipset & higher pixel density, has improved the users video conferencing experience. The Video Conferencing Market was valued at US$ 464.7 Mn in 2019 and is projected to reach US$ 1577.6 Mn by 2027; it is expected to grow at a CAGR of 16.9% from 2020 to 2027. Video conferencing solutions are being adopted by businesses all over the world to enhance their client interaction, brand awareness, and marketing initiatives. Avaya. The cloud segment is projected to garner significant growth during the forecast period. The new TWS earbuds can connect to both PCs and cellphones at the same time. Presentation, Research The report offers valuation and analysis of Video Conferencing market on a global as well as regional level. By component, the market segment is divided into hardware, solutions, and services. What are the Major Companies Operating in the Video Conferencing Market? The growing integration of technologies, such as Artificial Intelligence (AI), machine learning & the Internet of Things (IoT), in video conferencing products & solutions is propelling the industry growth. Report Scope of theVideo Conferencing Market. Dec-2020: Cisco expanded its portfolio of collaboration devices developed to empower the remote worker and allow a secure return to the office. Video Conferencing Market. The cloud segment is anticipated to register the largest market size during the forecast period. By vertical, healthcare and life sciences segment to register the highest CAGR during forecast periodThe healthcare and life sciences vertical deals with diverse clinical, administrative, and financial content daily.As a result, video conferencing solutions can be used to consolidate correct clinical information and channelized content insights.By verticals, the healthcare and life sciences segment is projected to register the highest CAGR during the forecast period.Asia Pacific market to register highest CAGR during forecast periodThe video conferencing market is projected to register the highest CAGR in the Asia Pacific region during the forecast period.The various initiatives taken by the government across this region is one of the major factor that drives the adoption of video conferencing solutions in Asia Pacific.The presence of players, such as IBM, Microsoft, Google, Adobe, and Cisco, with specialized offerings makes the video conferencing ecosystem in Asia Pacific highly competitive.Breakdown of PrimariesIn-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the video conferencing market. By Company: Tier I: 55%, Tier II: 20%, and Tier III: 25% By Designation: C-Level Executives: 38%, D-Level Executives: 35%, and Managers: 27% By Region: Asia Pacific: 35%, Europe: 15%, North America: 40%, Middle East & Africa: 10%The report includes the study of key players offering video conferencing.It profiles major vendors in the video conferencing market.The major players in this market include Microsoft (US), Zoom Video Communications (US), Cisco (US), Adobe (US), Huawei (China), Avaya, Inc. (US), AWS (US), Google, LLC (US), HP (US), GoTo (US), Enghouse Systems (Canada), Pexip (Norway), Qumu Corporation (US), Sonic Foundry Inc. (US), Lifesize, Inc. (US), Kaltura Inc. (US), BlueJeans Network (US), Kollective Technology, Inc. (US), StarLeaf Inc. (UK), Dialpad (US), Logitech (US), Barco (Belgium), Fuze Inc. (US), Haivision Inc. (Canada), and Premium Global Services Inc. (US).Research CoverageThis study covers the video conferencing market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as component, application, deployment mode, vertical, and region.It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Key Benefits of Buying the ReportThe report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall video conferencing market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.Read the full report: https://www.reportlinker.com/p06071890/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Kindly, let us know if you are interested), No cookie-cutter, only authentic analysis take the 1st step to become an Precedence Research client. This is clear since the income of the healthcare end-use industry is expected to expand rapidly throughout the projected timeframe. Know more about this report:request for sample pages. Market Size. The global Covid-19 pandemic has impacted every section of society, be it individual or businesses. Key Takeaways: The software segment is expected to witness highest growth at a CAGR of over 13.5% from 2022 to 2030. The global video conferencing market as a whole is expected to reach 9.95 billion in value by 2028 with a CAGR of 11.4% according to market prospects. Increased urbanisation, which is crucial for the usage of video conferencing, rising demand for e-learning are expected to propel video conferencing market. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. (IDC, 2019) Similarly, improvements in pre-installed video cameras in laptops or webcams, offering 4K or 1080p video shooting or capture, has augmented the market demand. Furthermore, continuous technical breakthroughs in the fields of augmented reality and the Internet of Things (IoT) also hastened the creation of sophisticated equipment, which is likely to boost category expansion even further. Jul-2020: Logitech teamed up with Shure, a global manufacturer of leading audio equipment. Customers that are using video banking alternatives could save time and money. The Video Conferencing Market is expected USD 41.41 billion by 2029. Inc. However, the increased preference for cloud technology is projected to impede segment development in the future years. > There are many companies that have increasingly implemented video conferencing solutions for connecting & better communicating with their employees and to carry out business operations more effectively and efficiently during the ongoing pandemic. This partnership aims to provide a premier video conferencing, scheduling, room control, and management experience for rooms of any size. The service segment is likely to propagate at an effective rate during the foreseen period, owing to the escalating integration of augmented reality and other key technologies and cloud-based video conferencing services, such as Adobe Connect, LoopUp, and so on, which is likely to enhance customer experience. Cameras and microphones/headphones are two subcategories of hardware segment. Demand for enterprise-based hardware has decreased as more firms embrace the remote working paradigm in 2020. Forecast Year . & Smart Technologies, Conferences & CHICAGO, Dec. 2, 2022 /PRNewswire/ -- The global Video Conferencing Market size is projected to register a CAGR of 12.6% during the forecast period, reaching USD 19.1 Billion by 2027 from an . Press release - Stratagem Market Insights - Video Conferencing Rentals Market Analysis by Size, Demand, Future Trends, Challenges, Growth Opportunities and Forecast by 2029 - published on openPR.com The above information has been provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. Europe: +44-742-759-8484 In the recent study conducted by Fairfield Market Research, the global video conferencing market was valued at US$6.9 Bn in 2018 and it is expected to reach US$21.1 Bn by 2026, registering a whopping CAGR of 16.6% between 2021 and 2026. These features include together mode, live reactions, video filters, touchless meeting experiences and many more. & Media, Energy, As a result, to which in January 2020, U.S.-based Lifesize, Inc. completed the partnership with Tech Data to offer video conferencing services in remote areas of New Zealand and South Korea more effectively, which is expected to bolster the market growth. There are some fields like online education and telemedicine that are strengthening their foot in emerging nations like India, the Philippines and Brazil, which are significantly propelling the demand for such solutions. Major drivers for the market include the growing internet penetration to pave way in the digital world. Tags: Video Conferencing Video Conferencing Industry Video Conferencing Market Video Conferencing Market size. Dec-2020: Adobe acquired Workfront, the leading work management platform for marketers. Sep-2020: Google partnered with Lenovo Group Ltd., a Chinese multinational technology company. The coronavirus pandemic has exponentially driven the market demand in 2020 owing to lockdowns imposed by the regional governments, resulting in travel restrictions and shut down of offices, educational institutes & other public meeting places. by year 2026 at a CAGR of 9.22% during the forecast period. The solutions allow users to download the application on multiple devices, such as smartphones, tablets & laptops, fueling the market revenue. The Zoom Video Communication Inc. accounted for around 15% of the video conferencing market share in 2020. Also, the rising demand for video based communication, virtual administrative management and cloud technology based collaboration tools are important drivers influencing market expansion in positive manner. The robust urbanization which is responsible for the use of video conferencing is driving factor growth. Further, this report also highlights smart strategy adopted by major players and also their market share. The global video conferencing market size is projected to grow to USD 22.5 billion by 2026. Over the projection timeframe, the cloud deployment sector is expected to increase at a considerable pace of roughly 14.5%. Looking for As a result, officers, customer executive staff, financial counsellors, and others in the banking and finance business are increasingly utilizing visual communication solutions. The Video Conferencing market size is estimated to grow from USD XX Billion in 2020 to USD XX Billion by 2027, growing at a CAGR of 15.55% during the forecast year from 2021 to 2027. The global video conferencing market share is expected to grow at a CAGR of 15.45% during the forecast period 2021-2030. . The services segment is anticipated to exhibit a substantial growth rate during the forecast period. Which Countries Data is Covered in the Video Conferencing Market? Earlier, Cisco aimed at integrating BabbleLabs to provide a top-class audio experience to Webex Meetings customers, at any place and however, they connect through the Webex application. The growing integration of technologies, such as Artificial Intelligence (AI), machine learning & the Internet of Things (IoT), in video conferencing products & solutions is propelling the industry growth. Sep-2020: Poly teamed up with StarLeaf, the global provider of meeting room solutions and video conferencing services for enterprises. These features and additional functionality to their key video communications solution assist customers to connect and collaborate effortlessly across the video at the time these trying times. The software segment is expected to witness highest growth at a CAGR of over 13.5% from 2022 to 2030. Due to increased globalization, corporations from many sectors aspire to run from several branches in different parts of the world in order to utilise the perks of local infrastructure, availability of knowledge, and cost savings in purchasing of materials. For example, Cisco Systems, Inc. announced Webex Devices in December 2020, along with Webexs hub camera to improve the distant work experience. Nov 22, 2022 - The global enterprise video conferencing market is estimated to garner a revenue of ~USD 20 Billion by the end of 2035 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 - 2035. . Thus these objects promote the adoption of multifunctional workplaces as well.The rise in popularity of online and net banking between clients is expected to fuel the expansion of video conferencing industry trends. This collaboration aims to assist companies to achieve a deeper understanding of user context over each touchpoint and break down data siloes among commerce, marketing, sales and service departments. 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