The Video Conferencing Market size was valued at USD 7.65 billion in 2023 and is expected to grow to USD 20.66 billion by 2031 and grow at a CAGR of 13.22% over the forecast period of 2024-2031.
A Rising in innovation in the field of videoconferencing, coupled with a strong market growth in the adoption of videoconferencing solutions in the education and telemedicine sectors, which is now required to optimise the use of the collaboration platform and increase the effectiveness of meetings through the use of virtual assistants, is driving the growth of this market. The main drivers boosting the market growth are increasing cloud native businesses, as well as an increase in eLearning and a preference for distance learning.
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Key Drivers:
Increasing preference for remote and E-learning is driving the market growth
In order to use distance learning as opposed to traditional classroom teaching, business, educational institutions and K–12 institutions have introduced conference calling systems. More educational institutions are using video communication technologies to increase remote learning as a result of the epidemic. Therefore, software is being adopted in schools to improve the learning environment for students.
Growing use of Internet-Of-Things
Increasing number of Cloud Native Businesses
Restraints:
Network Infrastructure Problems
Despite the fact that most advanced countries have extensive communication infrastructure, a number of emerging and underdeveloped countries do not have sufficient telecommunications infrastructure so as to enable higher quality video transmissions. In these countries, people depend mainly on audiovisual communication to avoid inconveniences such as bad video and intermittent disconnection.
Privacy and security concerns
Problems with network infrastructure.
Opportunities:
Increasing use of telepresence for bridging communication gap
Market growth is further influenced by the increasing use of telepresence for bridging communication gaps between users. This technology will help to use the most recent high-definition audio and video technologies, furniture, interior design and media. The safest, most reliable way of transport in the world is to have this telepresence at your disposal. Rapid digitisation, a surge in investments, an increase in consumer spending and lifestyle change are positive impacts.
The hardware market for videoconferencing is booming
Challenges:
Finding a way to tap the nonagile market
Videoconferencing systems are less comfortable for some users than older methods of communication, such as audio conferencing. In a recent survey conducted by West Unified Communications, more than 230 fulltime employees in the United States reported that 23% of respondents were uncomfortable with videoconferencing and 75% said they preferred to use audio. The adoption of videoconferencing solutions and the expansion of employee use is a challenge for many businesses.
Internet bandwidth and technological glitches
Getting into the non-agile market
There seems to be a degree of complexity in the impact on the videoconferencing market of an ongoing economic downturn. The market for videoconferencing should continue to grow in spite of the wider challenges facing the economy.
A number of factors, such as increasing demand for Unified Communication, the transformation of the workforce around the world and a focus on digitalisation in organisations contribute to this growth. In view of the growing importance of conferencing and collaboration by these companies, it is projected that SMEs segment will have a considerable growth with an expected compound annual growth rate of approximately 15.0% over the next few years. Moreover, due to the high demand for conference video endpoints, the enterprise segment continues to be dominated by larger organisations and accounts for a significant share of revenues. On the regional level, North America has been dominant and is expected to continue its dominance. It is due to its advanced telecommunications infrastructure, the presence of large technology companies and a highly innovative culture.
Although specific details of this sector are not directly addressed in the information available, the crisis in Russia Ukraine has had a significant impact on various global markets, including the potential impact on the videoconferencing market. As the crisis has led to a sharp rise in Russian government supported cyber-attacks, countries close to Russia and Ukraine are increasing their defence spending with major implications for cyber security. As organisations and governments increasingly prioritise cybersecurity in their communication tools to respond to the threat environment, this climate of increased security concerns could indirectly affect the videoconferencing market by encouraging a higher demand for safe communications channels. Both Russia and Ukraine are effectively using UAVs for ISR and targeting operations. By October 2022, on any typical day, Ukrainian forces would fly a UAV over Russian position, and by late evening, generate close to 3,500 photos, which would then be analysed after downloading on a computer. In order to avoid waste of precious resources, a confirmatory recce will be carried out after target analysis and determination of the target, which could be a Russian command and control centre or a vehicle, etc.
The impact of the war, including a huge investment requirement to rebuild Ukraine and changes in Europe's energy dependency, could have far reaching effects on market dynamics, as well as technology sectors. As businesses adapt to the new realities of economics and security, changes in business operations and communications needs could be driven by changing energy supply patterns and increased emphasis on safety, which might affect demand for video conferencing services.
By Component
Hardware
Camera
Microphone/Headphone
Others
Software
Services
Professional Services
Managed Services
By Deployment
On-premise
Cloud
As far as deployment is concerned, the segment of on-premise accounted for around 59.1 % of total revenues by 2023 and dominated the market. In view of the increasing data security concerns, this is mainly due to an increase in adoption of such a deployment model across large organisations. However, growth in the segment is expected to slow down over the coming years as more and more people embrace cloud technologies.
By Enterprise
Large Enterprises
Small and Medium Enterprises
By Application
Consumer
Enterprise
In 2023 the enterprise segment accounted for over 85.1% of revenues thanks to a higher demand for videoconferencing endpoints which are roombase hardware solutions installed and fitted into meeting rooms. In view of the growing use of products as communication and collaboration tools among employees, growth prospects for enterprise-based videoconferencing solutions were projected to increase prior to the pandemic.
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By End-Use
Corporate
Education
Healthcare
Government & Defense
BFSI
Media & Entertainment
Others
The North American videoconferencing market accounted for approximately 39.2% of revenue in 2023, driven by a higher number of adoptions across the region. Market growth is expected to be driven by the growing demand for high quality internet and visual meeting services. Moreover, market growth is further driven by the strong presence of various major players in this region and a growing trend towards Bring Your Own Device solutions that lead to an increase in demand for webcams and headphones.
With the adoption of new working styles in regional enterprises, the Asia Pacific video conferencing market is expected to grow at a compound annual growth rate of more than 14.2% from 2031 onwards. Several companies have been forced to make use of Remote Work in response to the COVID-19 pandemic, which has subsequently encouraged development of quality internet infrastructure across the region. In addition, market growth will be further accelerated by the evolution of mobile broadband technologies like WiMAX and HSDPA networks in Japan and other countries.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Cisco Systems, Verizon Communications, Polycom Inc., Alphabet Inc., Adobe Systems, Microsoft Corporation, Vidyo Inc., Zoom Video Communication, Logitech International S.A., Panasonic Corporation, and Other Players.
Cisco and Microsoft entered into a partnership in October 2022 to bring Microsoft Teams to Cisco's meeting room equipment. It allows the default running of Microsoft Teams on Cisco rooms and desks to be selected by customers.
In May 2022, Zoom announced its acquisition of Solvvy; with a view to providing an enhanced customer service experience on the world's corporate level, and in order to take advantage of new opportunities for contact centres and assistance.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 7.65 Billion |
| Market Size by 2031 | USD 20.66 Billion |
| CAGR | CAGR 13.22% From 2023 to 2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Cisco Systems, Verizon Communications, Polycom Inc., Alphabet Inc., Adobe Systems, Microsoft Corporation, Vidyo Inc., Zoom Video Communication, Logitech International S.A., and Panasonic Corporation |
| Key Drivers | •Global workforce transformation •Expanding cloud-native businesses |
| Market Restraints | •Privacy and security concerns. •Problems with network infrastructure. |
Ans: - The Video Conferencing Market size was valued at USD 7.65 billion in 2023.
Ans: - Global workforce transformation and expanding cloud-native businesses.
Ans: - North America is expected to remain the world's largest market for video conferencing solutions over the forecast period.
Ans: - The primary growth tactics of Videoconferencing market participants include merger and acquisition, business expansion, and product launch
Ans: - The study includes a comprehensive analysis of Videoconferencing 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. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Video Conferencing Market Segmentation, By Component
9.1 Introduction
9.2 Trend Analysis
9.3 Hardware
9.3.1 Camera
9.3.2 Microphone/Headphone
9.3.3 Others
9.4 Software
9.5 Services
9.5.1 Professional Services
9.5.2 Managed
10. Video Conferencing Market Segmentation, By Deployment
10.1 Introduction
10.2 Trend Analysis
10.3 On-premise
10.4 Cloud
11. Active Pharmaceutical Ingredient Market Segmentation, By Enterprise
11.1 Introduction
11.2 Trend Analysis
11.3 Large Enterprises
11.4 Small and Medium Enterprises
12. Active Pharmaceutical Ingredient Market Segmentation, By Application
12.1 Introduction
12.2 Trend Analysis
12.3 Consumer
12.4 Enterprise
13. Active Pharmaceutical Ingredient Market Segmentation, By End-use
13.1 Introduction
13.2 Trend Analysis
13.3 Corporate
13.4 Education
13.5 Healthcare
13.6 Government & Defense
13.7 BFSI
13.8 Media & Entertainment
13.9 Others
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Eastern Europe
14.3.1.1 Poland
14.3.1.2 Romania
14.3.1.3 Hungary
14.3.1.4 Turkey
14.3.1.5 Rest of Eastern Europe
14.3.2 Western Europe
14.3.2.1 Germany
14.3.2.2 France
14.3.2.3 UK
14.3.2.4 Italy
14.3.2.5 Spain
14.3.2.6 Netherlands
14.3.2.7 Switzerland
14.3.2.8 Austria
14.3.2.9 Rest of Western Europe
14.4 Asia-Pacific
14.4.1 China
14.4.2 India
14.4.3 Japan
14.4.4 South Korea
14.4.5 Vietnam
14.4.6 Singapore
14.4.7 Australia
14.4.8 Rest of Asia Pacific
14.5 The Middle East & Africa
14.5.1 Middle East
14.5.1.1 UAE
14.5.1.2 Egypt
14.5.1.3 Saudi Arabia
14.5.1.4 Qatar
14.5.1.5 Rest of the Middle East
14.5.2 Africa
14.5.2.1 Nigeria
14.5.2.2 South Africa
14.5.2.3 Rest of Africa
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Colombia
14.6.4 Rest of Latin America
15. Company Profiles
15.1 Cisco Systems
15.1.1 Company Overview
15.1.2 Financial
15.1.3 Products/ Services Offered
15.1.4 SWOT Analysis
15.1.5 The SNS View
15.2 Verizon Communications
15.2.1 Company Overview
15.2.2 Financial
15.2.3 Products/ Services Offered
15.2.4 SWOT Analysis
15.2.5 The SNS View
15.3 Polycom Inc.
15.3.1 Company Overview
15.3.2 Financial
15.3.3 Products/ Services Offered
15.3.4 SWOT Analysis
15.3.5 The SNS View
15.4 Alphabet Inc.
15.4.1 Company Overview
15.4.2 Financial
15.4.3 Products/ Services Offered
15.4.4 SWOT Analysis
15.4.5 The SNS View
15.5 Adobe Systems
15.5.1 Company Overview
15.5.2 Financial
15.5.3 Products/ Services Offered
15.5.4 SWOT Analysis
15.5.5 The SNS View
15.6 Microsoft Corporation
15.6.1 Company Overview
15.6.2 Financial
15.6.3 Products/ Services Offered
15.6.4 SWOT Analysis
15.6.5 The SNS View
15.7 Vidyo Inc.
15.7.1 Company Overview
15.7.2 Financial
15.7.3 Products/ Services Offered
15.7.4 SWOT Analysis
15.7.5 The SNS View
15.8 Zoom Video Communication
15.8.1 Company Overview
15.8.2 Financial
15.8.3 Products/ Services Offered
15.8.4 SWOT Analysis
15.8.5 The SNS View
15.9 Logitech International S.A.
15.9.1 Company Overview
15.9.2 Financial
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.10 Panasonic Corporation
15.10.1 Company Overview
15.10.2 Financial
15.10.3 Products/ Services Offered
15.10.4 SWOT Analysis
15.10.5 The SNS View
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions
17. Use Case and Best Practices
18. Conclusion
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