Global Video Conferencing Market was valued at US$ 4.21 Bn. in 2020 and is expected to reach US$ 8.9 Bn. by 2027, at a CAGR of 11.3% during a forecast period.

Global Video Conferencing Market Overview:

 Global video conferencing market was valued at US$ 4.21 Bn. in 2020. Market growth is expected to be fueled by factors such as company globalization, geographically dispersed operations, and the growing acceptance of remote working practices. The market's growth is likely to be aided by the rapid usage of video conferencing solutions in the medical and education sectors. Furthermore, as enterprises and individuals strive to stay connected, lockdowns enforced around the world in reaction to the COVID-19 epidemic have led to a massive spike in demand for video conferencing and teleconferencing solutions. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

COVID-19 impact on video conferencing market:

The COVID-19 pandemic has had an impact on all 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 person and government in society has been in continual contact with one another to supply and receive real-time COVID-19 information, including the federal, state, central, local, and provincial governments. Currently, video conferencing technologies are being used by healthcare, telecommunications, media and entertainment, utilities, and government agencies to stabilize the situation and give critical services to everyone.

Global Video Conferencing Market Dynamics:

Transformed global workforce: COVID-19 has ushered in a shift toward remote working for the whole workforce, opening the door for video conferencing solutions and hardware. Following the pandemic, applications like Microsoft Teams, an in-built Office 365 application that is already in use by most businesses for end-to-end productivity with email and storage capabilities, saw tremendous growth. Due to its feasibility and convenience of use, the Zoom meeting solution is rapidly growing in popularity. Furthermore, hardware compatible with better video conferencing solutions are being rolled out by firms like Huawei, Cisco, and Poly. 5G paving the way for video conferencing: 5G networks give a 1 Gbps and 10ms better internet experience, as well as a foundation for cloud and AI-based video applications. Augmented reality (AR), virtual reality (VR), and video apps are among the data-intensive applications that are gaining acceptance in both personal and business-to-business (B2B) settings. High bandwidth, low power, ultra-low latency, and quick speed are all requirements for video conferencing, depending on the industry. To meet the growing demand for video conferencing, network capacity must be raised through the use of a new spectrum, which will lead to widespread adoption of the 5G core and the deployment of 5G technology for enhanced mobile broadband services. Issues of privacy and security: Enterprises may be concerned about the security and privacy of video content shared across several platforms. Furthermore, corporations are concerned about copyright and Digital Rights Management (DRM) because of the risk of misuse, data leakage, and data breaches. In 2019, the healthcare, finance, manufacturing, information, and public sectors experienced the most data breaches. To overcome these limitations, businesses must rethink their approaches to video conferencing before implementing these solutions. Video conferencing solutions may have a slow adoption rate if policies and processes for proper video content management are not in place. Vendors must also provide interoperable and simple-to-use enterprise-grade video communication solutions with built-in security measures.

Global Video Conferencing Market segment analysis:

 Based on component, the hardware segment held the largest share of 47% in 2020. Endpoints with high-resolution cameras, microphones, and speakers, such as laptops, cell phones, and desktops, are contributing to the expansion. The demand for and investments in enterprise-based hardware has decreased as a result of some firms implementing the work-from-home paradigm in 2020. Companies are also investing more in individual products rather than business hardware as a result of this trend. Cameras and microphones/headphones are sub-segments of the hardware segment. Due to the requirement for effective communication and the adoption of the work-from-home paradigm, the microphones/headphones category saw a surge in growth in 2020. The quick adoption of software-based communications and collaboration options like Zoom videoconferencing and Microsoft Teams during the epidemic has accelerated the headphones segment's growth. Recent breakthroughs in the fields of IoT and augmented reality have resulted in the creation of headgear with expanded functionality, such as improved device inter connectivity. Based on deployment, the on-premise segment held the largest share of 47% in 2020. This is due to large organizations' growing adoption of on-premise deployment in response to growing concerns about data theft and effective information security system maintenance. However, because cloud-based solutions are becoming increasingly popular, the segment is expected to grow slowly over the forecast period. As a result of this trend, businesses have begun to shift their income generation models to the cloud. Avaya, Inc., for example, shifted its income generation approach from on-premise to cloud. Over the next few years, the cloud segment is expected to grow at a rapid pace. End-users benefit from these solutions because they provide easy access to video conferencing services via different channels, such as laptops and mobile devices. In addition, service providers are stressing the use of a Software as a Service (SaaS) platform for video conferencing, which has attracted a huge number of small and medium-sized businesses. Furthermore, the segment's growth is likely to be fueled by the development of better encrypted and password-protected cloud solutions. Based on enterprise size, the large enterprises segment held the largest share of 77% in 2020. Large enterprises are the primary users of video conferencing services since they want dependable and secure solutions. Large corporations put a premium on corporate network performance while also integrating innovative technologies like SD-WAN. Service providers are focused on upgrading video conferencing solutions with increased features like business process integration and centralized provisioning and service management to cater to the needs of multi-regional and multinational companies. Over the next few years, the Small and Medium Enterprises (SMEs) segment is likely to present lucrative prospects for major participants. Due to the COVID-19 pandemic, SMEs are understanding the value of cooperation and conferencing. To obtain a competitive advantage, several important market competitors are implementing strategies for this category. Plantronics, Inc., for example, updated the QDX 6000, an SD video conferencing system appropriate for small and medium-sized meeting rooms, for the Asian market. Based on the application, the enterprise segment held the largest share of 84% in 2020. Conference video endpoints, which are fixed, deployed, and configured in meeting rooms and boardrooms are room-based hardware solutions. These are all-in-one systems that don't require any additional hardware or software because the codec communicates with other endpoints and transmits video signals and data. Prior to the COVID-19 outbreak, enterprise-based video conferencing solutions were expected to grow rapidly due to growing acceptance of enterprise conferencing as a means of communication and collaboration among employees.  Based on end-user, the corporate segment held the largest share of 28% in 2020. The explosive growth of the cloud-based communication and collaboration software business, which has opened up the market for new participants, can be linked to the company's rise. With the increasing number of remote or geographically scattered teams, cloud-based systems for seamless data sharing, collaboration, and communication have become more popular. Remote teams can use team communication and collaboration software to optimize corporate processes, manage projects of all kinds, and increase overall productivity. Another prospective industry, government, and defence, is projected to see significant usage in the future years. During the epidemic, public sector organizations are employing conferencing technologies to boost efficiency and production. These tools assist government agencies in engaging more individuals and making faster decisions. Furthermore, the increased need for video conferencing in the industry as a result of distributed governments is propelling the category forward. Global Video Conferencing Market Regional Insight:  In 2020, North America dominated the video conferencing industry, with a revenue share of more than 38.12%. In terms of video conferencing solutions adoption, the regional market is mature. Upgrades to existing equipment and subscriptions to cloud-based services, on the other hand, present a growth opportunity in the region. By inventing and supplying reliable technology products to clients, hardware providers play a crucial role in supporting the video conferencing market's growth. On the other side, software developers are always focused on improving existing software with novel features, which is attracting a major percentage of end-users. Regional growth is likely to be aided by increased demand for continuous access to high-quality internet and visual meetings. The existence of many prominent companies, together with the rising popularity of Bring Your Own Device (BYOD) solutions, which has resulted in the widespread use of webcams and headphones are projected to propel market growth even further. In addition, with the innovations in cloud technology, the video conferencing market companies in this area are seeing a surge in demand for their cloud-enabled solutions. The objective of the report is to present a comprehensive analysis of the global Video Conferencing market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Video Conferencing market dynamics, structure by analyzing the market segments and projects the global Video Conferencing market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Video Conferencing market make the report investor’s guide.

Global Video Conferencing Market Scope: Inquire before buying

Global Video Conferencing Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Video Conferencing Market Key Players

• Cisco Systems • Verizon Communications • Polycom Inc. • Alphabet Inc. • Adobe Systems • Microsoft Corporation • Vidyo Inc. • Zoom Video Communication • Logitech International S.A. • Panasonic Corporation • ZTE Corporation • Fuze Inc. • Huawei Technologies Co. • Avaya Inc. • Facebook, Inc. • Lifesize Inc. • StarLeaf • Google • AWS • LogMeIn • Enghouse Systems • Pexip • Sonic Foundry • Kaltura Frequently Asked Questions: 1. Which region has the largest share in Global Video Conferencing Market? Ans: North America region holds the highest share in 2020. 2. What is the growth rate of Global Video Conferencing Market? Ans: The Global Video Conferencing Market is growing at a CAGR of 11.3 % during forecasting period 2021-2027. 3. What segments are covered in Global Video Conferencing market? Ans: Global Video Conferencing Market is segmented into component, deployment, enterprise size, application, end-user and region. 4. Who are the key players in Global Video Conferencing market? Ans: The important key players in the Global Video Conferencing Market are – Cisco Systems, Verizon Communications, Polycom Inc., Alphabet Inc., Adobe Systems, Microsoft Corporation, Vidyo Inc., Zoom Video Communication, Logitech International S.A., Panasonic Corporation, ZTE Corporation, Fuze Inc., Huawei Technologies Co., Avaya Inc., Facebook, Inc., and Lifesize Inc. 5. What is the study period of this market? Ans: The Global Video Conferencing Market is studied from 2020 to 2027.