USD 11.5 billion
Video Conferencing Market Size, Share, Growth Analysis, By Component (Hardware, Software), By Enterprise Type, By Deployment Mode, By Application, By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG50C2012 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
118
|Figures:
77
Video Conferencing Market Insights
Global Video Conferencing Market size was valued at USD 11.5 billion in 2022 and is poised to grow from USD 12.7 billion in 2023 to USD 26.4 billion by 2031, growing at a CAGR of 9.6% during the forecast period (2024-2031).
The rising demand for advanced video conferencing solutions is surging the growth of the Video Conferencing market. The rapid adoption of video conferencing solutions in communications, in addition, to the real estate, leisure, and education sectors will play an important role in the growth of the Video Conferencing market. It is difficult for employees to communicate effectively without strong tools and efficiencies. A low-quality video or noise during the video can cause employees to spend more time dealing with misunderstanding Healthcare and life sciences are diverse clinical, daily content covering administrative and financial matters. As a result, of the need for channelized content insights and accurate clinical information Video conferencing can be used to consolidate information. Collaborations enable healthcare providers to use telemedicine in Healthcare administration, medical education, and patient care. Provide enhanced patient care with applications that provide patient data and a better way to communicate.
US Video Conferencing Market is poised to grow at a sustainable CAGR for the next forcast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
On-premises
Fastest Growth
Cloud
Growth Rate
9.6% CAGR
Global Video Conferencing Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Video Conferencing Market Segmental Analysis
Global Video Conferencing Market is segmented by component, Enterprise Type, Deployment Mode, application, end user and region. Based on component, the market is segmented into hardware, software, and service. Based on Enterprise type, the market is segmented into Small & Medium Enterprises and Large Enterprises. Based on Deployment Mode, the market is segmented into On Premises and Cloud. Based on application, the market is segmented into Corporate Communications, Training & Development, and Marketing & Client Engagement. Based on end user, the market is segmented into Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Video Conferencing Market Analysis by Deployment
The on-premise segment led the Video Conferencing market in 2021, accounting for more than 59% of revenue. This can be attributed to large enterprises' increasing embrace of on-premise deployment in response to growing concerns about data theft and effective management of information security systems. However, due to the growing prominence of cloud-based solutions, the category is likely to increase slowly throughout the forecast period. In reaction to this trend, businesses have started to shift to a cloud-based income generation model. For instance, Avaya, Inc. shifted its revenue generation approach from legacy on-premise to cloud.
Video Conferencing Market Analysis by Components
With a revenue share of more than 47% in 2021, the hardware segment dominated the Video Conferencing market. The increased development and acceptance of endpoints such as laptops, cellphones, and desktops equipped with high-resolution cameras, microphones, and speakers can be contributed to the expansion. As some firms embraced the work-from-home model in 2021, the demand for and investment in enterprise-based hardware has decreased. As a result of this trend, businesses are investing more in individual goods rather than enterprise gear.
Global Video Conferencing Market By Deployment , 2021(%)
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Video Conferencing Market Regional Insights
In 2021, North America dominated the video conferencing market, with a revenue share of more than 39%. In terms of video conferencing solution adoption, the regional Video Conferencing market is mature. However, there is room for expansion in the region by upgrading existing equipment and subscribing to cloud-based services. Increased demand for high-quality internet and visual meetings is expected to contribute to regional growth. The presence of several key players, combined with the growing popularity of Bring Your Device (BYOD) solutions, which has resulted in the widespread adoption of webcams and headphones, is expected to drive Video Conferencing market growth even further.
Global Video Conferencing Market By Geography, 2021 - 2028
- Largest
- Fastest
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Video Conferencing Market Dynamics
Video Conferencing Market Driver
- Implementation of Video Conferencing across Educational Institutions
Institutions, schools, universities, and K-12 have implemented conferencing solutions to replace traditional classrooms with distance learning. As a result of the pandemic, educational institutions are collaborating with video communication services to expand remote learning. As a result, educational institutions are implementing software to provide students with an efficient learning experience. Additionally, software such as Adobe, Microsoft Office, and others make it possible for users to access online classes from their personal smart devices. It also enables administrators to share displays, papers, and files with their students while teaching. Furthermore, such initiatives will propel the global video conferencing market growth.
Video Conferencing Market Restraint
- Rising Security Concerns
The security and privacy of the video content shared across various platforms can present major concerns for companies. Furthermore, organizations are concerned about copyright and Digital Rights Management (DRM) due to the risk of misappropriation, information leakage, and data breaches. In 2019, the healthcare, finance, manufacturing, information, and public sectors experienced the highest number of data breaches. To overcome such constraints, organizations must restructure their Video Conferencing strategy before using these solutions. In the lack of policies and procedures for the correct handling of video content, the adoption of Video Conferencing solutions may be slow. Furthermore, suppliers must provide interoperable and simple-to-use enterprise-grade video communication solutions with built-in security features.
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Video Conferencing Market Competitive Landscape
The COVID-19 pandemic has forced Video Conferencing market participants to reevaluate their company strategy and operations. Video Conferencing Market participants are substantially investing in cloud-based solutions to fulfill the requirement for distant employees to have a digital workplace. Furthermore, as a result of the increased demand, some organizations have begun to diversify their solutions. For instance, Zoom Video Communications, Inc., has joined the hardware industry in response to the significant increase in the number of remote employees worldwide. Zoom announced the introduction of its hardware products segment in July 2021. Zoom for Home - DTEN ME, an all-in-one personal collaboration device for remote workers, was the first gadget to be released in the category.
Video Conferencing Market Top Player's Company Profiles
- Zoom Video Communications (USA)
- Logitech (Switzerland)
- Poly (formerly Plantronics) (USA)
- BlueJeans by Verizon (USA)
- Pexip (Norway)
- Lifesize (USA)
- StarLeaf (UK)
- Avaya (USA)
- Vonage (USA)
- Jitsi (8x8) (USA)
- Yealink (China)
- Vidyo (Enghouse Systems) (Canada)
- TrueConf (Russia)
- GoTo (formerly LogMeIn) (USA)
- Aver Information (Taiwan)
- Kaltura (USA)
- Highfive (by Dialpad) (USA)
- BigBlueButton (Canada)
- Whereby (formerly appear.in) (Norway)
- EZTalks (China)
Video Conferencing Market Recent Developments
- In June 2022, Duo and Meet, two of Google's video calling tools, are being merged. Google Meet will replace the Duo app, resulting in a single, free video communications service throughout Google.
- In May 2022, SucSEED Indovation invests in the video conferencing platform Ving. Ving Hybrid was founded for a long-standing industry issue for users of Video Conferencing Rooms.
Video Conferencing Key Market Trends
- As a result of the worldwide spread of the COVID-19 (coronavirus), many companies are now relying on video conferencing to conduct routine company operations. The popular 'work from home policy in several companies has resulted in an unprecedented increase in video conferencing usage. As a result, ZOOM Cloud Meetings—a free HD meeting app—became popular among users until it was reported for various security flaws in the video conferencing market. As a result, India's Ministry of Electronics and Information Technology (MeitY) recently announced the 'Innovation Challenge for Development of a Video Conferencing (VC) Solution' as part of the Digital India Program. A faster rate of growth is predicted for Healthcare and Life Science vertical during the forecast period.
- Due to the cost savings and effectiveness, the growing startup culture is increasingly adopting cloud-based video conferencing solutions. Many businesses are hesitant to invest in traditional workplace setups and infrastructures, which is why video conferencing is becoming more popular among start-ups. A growing number of employees prefer to work remotely and conduct meetings via mobile devices. This trend has significantly reduced the costs associated with business travel while increasing company productivity levels.
Video Conferencing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, remote working is becoming more popular, as are geographically dispersed business operations and increased globalization. Moreover, rising demand for video conferencing solutions in the education and healthcare sectors is driving Video Conferencing market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.5 billion |
| Market size value in 2031 | USD 26.4 billion |
| Growth Rate | 9.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Video Conferencing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Video Conferencing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Video Conferencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Video Conferencing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Video Conferencing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Video Conferencing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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