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Videoconferencing Market

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

Report Id: SNS/ICT/2528 | July 2022 | Region: Global | 129 Pages

Report Scope & Overview:

The Videoconferencing Market size was valued at USD 5.98 Bn in 2021 and is expected to reach USD14.25 Bn by 2028, and grow at a CAGR of 13.21% 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. The technology is valuable for business users in faraway cities or countries since it saves time, money, and annoyance associated with business travel.  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. All of these advantages may be pushed through video conferencing without the requirement for constant travel for face-to-face engagement.

Videoconferencing 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. Due to the COVID 19 lockout, the role of video conferencing in Multi-National Companies (MNCs) has grown in popularity.

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 participation. Artificial intelligence will reduce most of the background noise in meetings. Machine learning algorithms would be able to determine which speaker should be active and ensure that their voice is completely heard by reducing background noise in conversations. Micro-LED screens have developed as a popular choice among worldwide workers.

MARKET DYNAMICS:

KEY DRIVERS:

  • Global workforce transformation

  • Expanding cloud-native businesses

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

RESTRAINTS:

  • Privacy and security concerns.

  • Problems with network infrastructure.

OPPORTUNITY:

  • The 5G network is paving the way for video conferencing solutions.

  • 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 COVID-19 epidemic has affected many parts of society, including individuals and businesses. During the COVID-19 outbreak, the telecom sector is playing an important role in supporting governments' digital infrastructure all around the world. Every individual and government in society, including the federal, state, central, municipal, and provincial governments, has been in constant touch with one another to give and receive real-time COVID-19 information. Healthcare, telecommunications, media and entertainment, utilities, and government organizations are currently using video conferencing technology to stabilize the situation and provide crucial services to everyone.

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. Demand for enterprise-based hardware has decreased as more firms embrace the remote working paradigm in 2020. Cameras and microphones/headphones are two subcategories of hardware. Among them, the microphones/headphones category had a significant increase in 2020 as a result of rising product demand during the pandemic, which was fueled by the rapid adoption of video conferencing solutions for team communication. Furthermore, continuous technical breakthroughs in the fields of augmented reality and the Internet of Things have hastened the creation of advanced-feature 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. However, the growing demand for cloud technology is expected to stymie category growth in the coming years. Over the projected period, the cloud deployment sector is expected to increase at a significant rate. Cloud technology improves accessibility by providing simple access to video conferencing services via many channels, such as mobile devices and laptop computers. Furthermore, the growing use of the Software as a Service (SaaS) platform, which has attracted a large number of small and medium-sized businesses, is driving category growth.

Due to increased demand for conference video endpoints, which are room-based hardware solutions deployed and configured in meeting rooms, the enterprise segment has gained the biggest market share in 2021. Given the rising product acceptance as a medium of communication and cooperation among employees, the growth prospects for enterprise-based video conferencing solutions were predicted to be stronger prior to the pandemic. However, the pandemic prompted an increase in the purchase of consumer-grade solutions, prompting industry participants to add increased features to their goods and services in order to attract a bigger client base.

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 is expected to account for growing revenue in 2021 and is developing as a potential market as public sector enterprises use conferencing solutions to improve efficiency and productivity. These services enable government entities to involve more individuals, which aids in speedier decision-making.

KEY MARKET SEGMENT:

On The Basis of Component 

  • Hardware

  • Software

  • Services

On The Basis of Deployment

  • On-premise

  • Cloud

On The Basis of Application

  • Consumer

  • Enterprise

On The Basis of End-use

  • Corporate

  • Education

  • Healthcare

  • Government & Defense

  • BFSI

  • Media & Entertainment

  • Others

Videoconferencing Market

REGIONAL ANALYSIS:

The modern communication infrastructure in North America enables video conferencing solution providers to give superior 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. North America is expected to remain the world's largest market for video conferencing solutions over the forecast period. Because most significant firms are based in this region, it is also one of the early users of video conferencing. Large-scale investments by enterprises in video conferencing solution outsourcing are the primary growth drivers of the North American video conferencing industry. The region's education industry is a big user of video conferencing and webcasting solutions.

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 Cisco Systems, Verizon Communications, Polycom Inc., Alphabet Inc., Adobe Systems, Microsoft Corporation, Vidyo Inc., Zoom Video Communication, Logitech International S.A., and Panasonic Corporation

 

Videoconferencing Market Report Scope
Report Attributes Details
Market Size in 2021 USD 5.98 Billion
Market Size by 2028 USD 14.25 Billion
CAGR CAGR 13.21% 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  
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, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, 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.


Frequently Asked Questions (FAQ) :

Ans: - The Videoconferencing Market size was valued at USD 5.98 Bn in 2021.

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. 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. Videoconferencing Market Segmentation, by Component 

8.1 Hardware

8.2 Software

8.3 Services

 

9. Videoconferencing Market Segmentation, by Deployment

9.1 On-premise

9.2 Cloud

 

10. Videoconferencing Market Segmentation, by Application

10.1 Consumer

10.2 Enterprise

 

11. Videoconferencing Market Segmentation, by End-use

11.1 Corporate

11.2 Education

11.3 Healthcare

11.4 Government & Defense

11.5 BFSI

11.6 Media & Entertainment

11.7 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profiles

13.1 Cisco Systems

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Verizon Communications

13.3 Polycom Inc.

13.4 Alphabet Inc.

13.5 Adobe Systems

13.6 Microsoft Corporation

13.7 Vidyo Inc.

13.8 Zoom Video Communication

13.9 Logitech International S.A.

13.10 Panasonic Corporation

 

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

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Secondary Research

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