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Video Conferencing Market

Video Conferencing Market Size, Share & Segmentation by component (Hardware, Software, Services), by Deployment (On-premise and Cloud), by Enterprise Size (Large Enterprises and Small and Medium Enterprises), by Application (Consumer and Enterprise), by End-use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/2058 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Video Conferencing Market size was valued at USD 8.89 Bn in 2021 and is expected to reach USD 33.12 Bn by 2028, and grow at a CAGR of 20.67% over the forecast period 2022-2028.

Video conferencing is a technology that allows individuals in various areas to hold face-to-face meetings without having to go to the same spot. Because it reduces time, money, and irritation connected with business travel, the technology is useful for business users in distant cities or nations. Video conferencing may be used for ordinary meetings, corporate negotiations, and candidate job interviews. Video conferencing boosts productivity saves time, reduces travel costs, and fosters cooperation. Video conferencing enables all of these benefits to be promoted without the need for continual travel for face-to-face contact.

Video Conferencing Market

Multinational corporations can build direct video connections between their sites to improve teamwork. Video conferencing is utilized as a training medium, with the teacher instructing a remote class from practically anywhere. Academic institutes also employ video conferencing to link traditional classroom settings with students who live a long distance away from the school. The function of Artificial Intelligence (AI), which will collaborate the conference room as a facilitator, is one of the development possibilities that will become a trendsetter in video conferencing. The experts in technology are developing machine learning systems that can transcribe audio, count attendance, and offer information on audience engagement.

MARKET DYNAMICS:

KEY DRIVERS:

  • Global workforce transformation.

  • Growing cloud-native businesses.

  • Internet penetration is forging the way forward in the digital age.

RESTRAINTS:

  • Privacy and security concerns.

  • Problems with network infrastructure.

OPPORTUNITY:

  • 5G is paving the door for video conferencing.

  • The video conferencing hardware industry is booming.

CHALLENGES:

  • Problems with internet bandwidth and technological glitches.

  • Getting into the non-agile market.

IMPACT OF COVID-19:

The impact of COVID-19 on the video conferencing market from a geographical viewpoint, encompassing North America, Europe, Asia-Pacific, and the Rest of the World. During this time, Asia-Pacific is playing a significant role in the growth of the video conferencing industry. The fast spread of the coronavirus has caused economic damage in China, Japan, South Korea, and India. The Chinese economy has been severely harmed by the coronavirus pandemic, and the country has been under lockdown for more than a month. Furthermore, with the devastating epidemic of COVID-19 throughout Europe. The government is putting together a platform for employees and students to help the country recover from this pandemic.

MARKET ESTIMATION:

The hardware category accounted for a sizable revenue share in 2021, which can be attributed to the increased usage of endpoints equipped with high-resolution cameras, speakers, and microphones. Cameras and microphones/headphones are two subcategories of hardware. Among them, the microphones/headphones category had a significant increase in 2021 as a result of rising product demand during the pandemic, which was fueled by the rapid adoption of video conferencing technologies for team communication. Furthermore, continuous technical breakthroughs in the fields of augmented reality and the Internet of Things (IoT) have hastened the creation of sophisticated headsets, which is likely to boost category expansion even further.

The on-premise category led the market in terms of deployment in 2021. This is mostly due to the increased acceptance of this deployment approach across large enterprises in response to growing data security concerns. Over the projected period, the cloud deployment sector is expected to increase significantly. Cloud technology improves accessibility by providing simple access to video conferencing services via many channels, such as mobile devices and laptop computers. Furthermore, the Software as a Service (SaaS) platform is becoming more popular.

The major businesses category had a revenue share in 2021 because these firms are primarily employing video conferencing solutions for cross-border business communications. As a result, the leading market participants are concentrating their efforts on producing services that may meet the demands of international corporations. The Small and Medium Enterprises (SMEs) market is expected to grow at a significant CAGR over the next several years as smaller organizations see the value of conferencing and cooperation, particularly in light of the COVID-19 epidemic.

The major businesses category had a revenue share in 2021 because these firms are primarily employing video conferencing solutions for cross-border business communications. As a result, the leading market participants are concentrating their efforts on producing services that may meet the demands of international corporations. The Small and Medium Enterprises (SMEs) market is expected to grow at a significant CAGR over the next several years as smaller organizations see the value of conferencing and cooperation, particularly in light of the COVID-19 epidemic.

In 2021, the corporate segment controlled the market by obtaining a revenue share. This is due to increased customer interest in cloud-based communication and collaboration products. The increased use of cloud-based systems for seamless data sharing, collaboration, and communication has been spurred by the rising number of geographically distributed teams. The government and defense sector will account for the growth in revenue in 2021 and is emerging as a promising segment as public sector companies adopt conferencing solutions to improve efficiency and productivity.

KEY SEGMENTS:

On The Basis of component

  • Hardware

  • Software

  • Services

On The Basis of Deployment

  • On-premise

  • Cloud

On The Basis of Enterprise Size

  • Large Enterprises

  • Small and Medium Enterprises

On The Basis of Application

  • Consumer

  • Enterprise

On The Basis of End-use

  • Corporate

  • Education

  • Healthcare

  • Government & Defense

  • BFSI

  • Media & Entertainment

  • Others

Video Conferencing Market

REGIONAL ANALYSIS:

North America has an excellent communication infrastructure, which enables video conferencing solution providers to give high-quality services to their clients. North America is likely to be one of the early adopters of 5G technology, which will improve the region's use of video conferencing solutions. Throughout the projection period, North America is predicted to be the world's largest market for video conferencing solutions. Because most significant firms are based in this region, it is also one of the early users of video conferencing. The United States and Canada are likely to be significant revenue producers in the North American video conferencing industry. Large-scale investments by enterprises in video conferencing solution outsourcing are the primary growth drivers of the North American video conferencing industry.

REGIONAL COVERAGE

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Adobe Systems Incorporated., Atlassian Corporation Plc., Cisco Systems, Inc., Fuze, Inc., Huawei Technologies Co., Ltd., Logitech International S.A., LogMeIn, Inc., Microsoft Corporation, Orange Business Services, Polycom, Inc.\

Video Conferencing Market Report Scope:
Report Attributes Details
 Market Size in 2021

 US$ 8.89 Bn

 Market Size by 2028

 US$ 33.12 Bn

 CAGR 

 CAGR of 20.67% From 2022 to 2028

 Base Year

 2021

 Forecast Period

 2022-2028

 Historical Data

 2017-2020

 Report Scope & Coverage

Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook

 Key Segments

• By component (Hardware, Software, Services)
• By Deployment (On-premise and Cloud)
• By Enterprise Size (Large Enterprises and Small and Medium Enterprises)
• By Application (Consumer and Enterprise)
• By End-use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others)

 Regional Analysis/Coverage

North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

 Company Profiles

Adobe Systems Incorporated., Atlassian Corporation Plc., Cisco Systems, Inc., Fuze, Inc., Huawei Technologies Co., Ltd., Logitech International S.A., LogMeIn, Inc., Microsoft Corporation, Orange Business Services, Polycom, Inc.

 Key Drivers

• Growing cloud-native businesses
• Internet penetration is forging the way forward in the digital age

 Market Challenges

• Problems with internet bandwidth and technological glitches
• Getting into the non-agile market

 


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Video Conferencing Market Segmentation, by component

8.1 Hardware

8.2 Software

8.3 Services

 

9. Video Conferencing Market Segmentation, by Deployment

9.1 On-premise

9.2 Cloud

 

10. Video Conferencing Market Segmentation, by Enterprise Size

10.1 Large Enterprises

10.2 Small and Medium Enterprises

 

11. Video Conferencing Market Segmentation, by Application

11.1 Consumer

11.2 Enterprise

 

12. Video Conferencing Market Segmentation, by End-use

12.1 Corporate

12.2 Education

12.3 Healthcare

12.4 Government & Defense

12.5 BFSI

12.6 Media & Entertainment

12.7 Others

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

 

14. Company Profiles

14.1 Adobe Systems Incorporated.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Atlassian Corporation Plc.

14.3 Cisco Systems, Inc.

14.4 Fuze, Inc.

14.5 Huawei Technologies Co., Ltd.

14.6 Logitech International S.A.

14.7 LogMeIn, Inc.

14.8 Microsoft Corporation

14.9 Orange Business Services

14.10 Polycom, Inc.

 

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

 

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of the good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

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Step 4: QA/QC Process

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