Global Video Conferencing Market was valued at USD 4.02 billion in 2018, which is expected to reach USD 7.22 billion by 2027, at a CAGR 10.2 %.
Video conferencing is the process of conducting meetings by using telecommunication technologies, which involves a real time, two-way transmission of audio and video content. Faster decision making and eliminate travelling time, and associated cost are the main advantages of video conferencing. Also, video conferencing have various applications such as digital classroom- healthcare automated talent & acquisition, smart factories, and others.
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Increase in demand for video communication on account of globalization of businesses is the key driving factor for market which is expected to boost the global video conferencing market growth. As several fields like online education and telemedicine have become increasingly popular in emerging economies such as India, and Brazil will expected to demand for video conferencing risen significantly during this forecast period. Furthermore, increase in technological advancements such as facial recognition, to authenticate and detect the meeting participants is expected to propel the global video conferencing market growth. Moreover, rise in use of cloud based solutions and incorporation of virtual reality in video conferencing which is expected to accelerate the global video conferencing market growth.
However, security and privacy concern of information is act as restraining factor which is expected to hamper the global video conferencing market growth.
Market Segmentation
Global Video Conferencing Market is segmented into component such as Hardware, Software, and Services, by deployment type such as On-premise, and Cloud, by application such as Digital Classroom, e-Healthcare, Automated Talent Acquisition, Smart Factories, and Others. Further, Global Video Conferencing Market is segmented into enterprise size such as Large Enterprises, and Small & Medium Enterprises, and by end use such as Education, Healthcare, BFSI, Media & Entertainment, Government & Defense, and Corporate.
Also, Global Video Conferencing Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Avaya Inc., Huawei Technologies, ZTE Corporation, Panasonic Corporation, Microsoft Corporation, Logitech International S.A., Adobe Systems, Polycom.Inc., Blue Jeans Network, Inc, and Cisco Systems.
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Market Taxonomy
By Component
• Hardware
• Software
• Services
By Deployment
• On-Premise
• Cloud
By Application
• Digital Classroom
• e-Healthcare
• Automated Talent Acquisition
• Smart Factories
• Others
By Enterprise Size
• Large Enterprises
• Small & Medium size Enterprises
By End Use
• Education
• Healthcare
• BFSI
• Media & Entertainment
• Government & Defense
• Corporate
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middles East & Africa
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