Report Id: SNS/ICT/1258 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Video conferencing system market was valued at USD 11.33 billion in 2022 and is predicted to increase at a CAGR of 19.3% from 2023 to 2030, to reach USD 46.50 billion.
Video conferencing solutions assist firms in improving communication, training and development, knowledge sharing, employee and customer engagement, and marketing goals, as well as improving team productivity in various locations and time zones throughout the world. Enterprises and SMEs are increasingly turning to cloud-based video conferencing solutions to gain flexibility and reliability in their internal business processes. In addition, in the next years, the integration of modern technologies will create a substantial potential for the video conferencing business.
COVID-19 ushered in a shift toward remote working for the whole workforce, opening the door for video conferencing solutions and technology.
Post-pandemic, applications like Microsoft Teams, an in-built Office 365 solution already in use by most organizations for end-to-end productivity with email and storage capabilities, saw tremendous growth.
5G networks give a 1 Gbps and 10ms better internet experience, as well as a platform for cloud and AI-based video applications.
A variety of data-intensive applications are emerging, including augmented reality (AR), virtual reality (VR), and video apps.
Employee productivity is severely hampered by a lack of effective communication tools.
Background noise or low-quality video might cause misconceptions and waste time for employees.
IMPACT OF COVID-19:
The COVID-19 epidemic has had an impact on many aspects of society, including individuals and corporations. During the COVID-19 epidemic, the telecom sector is playing a critical role in supporting governments' digital infrastructure all around the world. Every individual and government, including federal, state, central, municipal, and provincial governments, has been in continual contact with one another in society to supply and receive real-time information on COVID-19. Currently, healthcare, telecommunications, media and entertainment, utilities, and government institutes are working around the clock to stabilize the situation and provide essential services to everyone via video conferencing technologies.
The key players in the Video Conferencing Systems Market are Microsoft Corporation (Microsoft), Zoom Video Communications, Inc. (Zoom), Cisco Systems, Inc. (Cisco), Adobe Systems Incorporated (Adobe), Huawei Technologies Co. Ltd (Huawei), Avaya, Inc. (Avaya), Amazon Web Services, Inc. (AWS), Google, LLC (Google), Plantronics, Inc. (Poly), LogMeIn, Inc. (LogMeIn)
Video conferencing solution providers enable businesses to securely consolidate, manage, and transmit videos. The solution aids in the management of all operations, from the initial capture and ingest of video through the ultimate transmission to end-user devices. The primary features of a video conferencing solution are video capture, batch and programmatic uploading, automated transcoding, encryption, monetization, Application Programming Interfaces (APIs), video player, video collaboration, and broadcast monitoring. End consumers benefit from low latency video services, less downtime, and quicker transcoding speeds provided by these solutions.
Corporate branding, corporate and organisational individuality, corporate social responsibility, company image, strategic communications, internal/employee communications, client services, public affairs, issues management, media relations, and company/spokesperson profiling are all functions that video conferencing solutions can help with. Employee communication is easier with a corporate communications solution, regardless of their location. Executives may develop a more customised relationship with their workers through video conferencing solutions. These solutions provide employees with next-generation video sharing and collaboration capabilities. Some of the top vendors of video solutions for corporate communications are Vidizmo, Zoom, Avaya, Poly, and Microsoft.
KEY MARKET SEGMENTATION:
By Deployment Mode:
The modern communication infrastructure in North America enables video conferencing solution providers to give high-quality services to their clients. North America is likely to be one of the first to adopt 5G technology, which will help the region's adoption 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. In the North American video conferencing market, the United States and Canada are likely to be major revenue drivers. Large-scale investments by enterprises for outsourcing video conferencing solutions are a significant growth driver for the North American video conferencing industry. The region's education industry is a big fan of video conferencing and webcasting solutions. Interoperability concerns, complexity issues in video content and technology, and high prices of video conferencing equipment, on the other hand, are impeding market expansion in this area.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||USD 11.33 Bn|
|Market Size by 2030||USD 46.50 Bn|
|CAGR||CAGR of 19.3% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Component (Hardware and Software)
• by Deployment Mode (Cloud and On-premises)
• by Application (Corporate Communications, Training and Development, Marketing and Client Engagement)
• by Enterprise (Large Enterprises and Small and Medium Enterprises)
|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||Microsoft Corporation, Zoom Video Communications, Inc., Cisco Systems, Inc., Adobe Systems Incorporated, Huawei Technologies Co. Ltd, Avaya, Inc., Amazon Web Services, Inc., Google, LLC, Plantronics, Inc., LogMeIn, Inc.|
|Key Drivers||• Post-pandemic, applications like Microsoft Teams, an in-built Office 365 solution already in use by most organizations for end-to-end productivity with email and storage capabilities, saw tremendous growth.|
|Market Opportunities||• 5G networks give a 1 Gbps and 10ms better internet experience, as well as a platform for cloud and AI-based video applications.|
Frequently Asked Questions (FAQ) :
Ans: - The Video conferencing system market was valued at USD 9.5 billion in 2021.
Ans: - Employee productivity is severely hampered by a lack of effective communication tools and background noise or low-quality video might cause misconceptions and waste time for employees.
Ans: - North America is predicted to be the world's largest market for video conferencing solutions.
Ans: - The key players in the Video Conferencing Systems Market are Microsoft Corporation (Microsoft), Zoom Video Communications, Inc. (Zoom), Cisco Systems, Inc. (Cisco), Adobe Systems Incorporated (Adobe), Huawei Technologies Co. Ltd (Huawei), Avaya, Inc. (Avaya), Amazon Web Services, Inc. (AWS), Google, LLC (Google), Plantronics, Inc. (Poly), LogMeIn, Inc. (LogMeIn)
Ans: - The study includes a comprehensive analysis of Identity and Access Management Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Video Conferencing Systems Market Segmentation, By Component
9. Video Conferencing Systems Market by Deployment Mode
10. Video Conferencing Systems Market by Application
10.1 Corporate Communications
10.2 Training and Development
10.3 Marketing and Client Engagement
11. Video Conferencing Systems Market by Enterprise
11.1 Large Enterprises
11.2 Small and Medium Enterprises
12. Regional Analysis
12.2 North America
12.2.1 the USA
12.3.2 the UK
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Microsoft Corporation (Microsoft)
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Zoom Video Communications, Inc. (Zoom)
13.3 Cisco Systems, Inc. (Cisco))
13.4 Adobe Systems Incorporated (Adobe)
13.5 Huawei Technologies Co. Ltd (Huawei)
13.6 Avaya, Inc. (Avaya)
13.7 Amazon Web Services, Inc. (AWS)
13.8 Google, LLC (Google)
13.9 Plantronics, Inc. (Poly)
13.10 LogMeIn, Inc. (LogMeIn)
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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