Global Video Conferencing Market, By Component (Hardware, Solution, Services), Hardware (Multi point Control Unit, Hard Codec, Peripheral Devices), Deployment Mode (On-Premises, Cloud), Application (Corporate Communications, Training and Development, Marketing and Client Engagement) – Industry Trends and Forecast to 2029.
Global Video Conferencing Market Analysis and Size
Video conferencing is being highly deployed due to its various benefits, such as saves time, promotes collaboration, strengthens productivity and minimizes travel expenses. The technology enables the ability to encourage all those benefits and also does not require constant travel for face-to-face communication.
- The video conferencing market was valued at USD 28.87 billion in 2021 and is expected to reach USD 41.41 billion by 2029, registering a CAGR of 11.30% during the forecast period of 2022-2029. “Hardware” accounts for the largest application segment in the respective market owing to the rise of the Internet of Things. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Video Conferencing Market Definition
Video Conferencing refers to a technology that assists users in conducting face-to-face meetings in various locations without the need to move to a single place together. The use of video conferencing include negotiating business deals, negotiating business deals, and holding routine meetings.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Solution, Services), Hardware (Multi point Control Unit, Hard Codec, Peripheral Devices), Deployment Mode (On-Premises, Cloud), Application (Corporate Communications, Training and Development, Marketing and Client Engagement)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Microsoft (US), Huawei Technologies Co., Ltd. (China), Cisco Systems, Inc. (US), Adobe. (US), Zoom Video Communications, Inc. (US), Google LLC (US), Avaya Inc. (US), LogMeIn, Inc. (US), Logitech. (US), Barco. (Belgium), StarLeaf. (UK), Pexip® AS (Norway), Amazon Web Services, Inc. (US), Blue Jeans Network Inc. (US), Enghouse Systems Limited (Canda), Qumu Corporation (US), Lifesize (US), Kaltura, Inc. (US), Kollective Technology, Inc. (US), Sonic Foundry (US), and Fuze inc. (US), among others
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Market Opportunities
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Video Conferencing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
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Internet of Things
The rise in the penetration of Internet of Things across the globe acts as one of the major factors driving the growth of video conferencing market. The robust urbanization along with the increased command of high-speed data connectivity among consumers have a positive impact on the market.
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High Bandwidth
The increase in preference for professional video conferencing depending on the bandwidth accelerate the market growth. High bandwidth is known to video quality. Most of the standard Video conferencing systems offer up to 2 Mbps, including IP bandwidth.
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Use of Telepresence
The rise in the use of telepresence for bridging communication gap between users further influence the market growth. The technology is beneficial in the use of the latest HD audio and video technology, furnishings, interior design and media technology. The high availability of this telepresence offers safest, robust and reliable method of transport in the world.
Additionally, rapid digitization, surge in investments, increased consumer spending and change in lifestyle positively affect the video conferencing market.
Opportunities
On the other hand, use of Voice over Internet Protocol (VoIP) is expected to obstruct market growth. Also, rapid deployment of 5G offering innovations in telepresence with holographic conferencing capabilities and Ultra HD video calling will further expand the market.
Restraints/Challenges Global Video Conferencing Market
On the other hand, network infrastructure issues and issues of privacy and security are expected to obstruct market growth. Also, Internet bandwidth and technical glitch issues are projected to challenge the video conferencing market in the forecast period of 2022-2029.
This video conferencing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on video conferencing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Video Conferencing Market
The COVID-19 has positively impacted video conferencing market. The implementation of lockdown by government across the globe escalated the demand for video conferencing. People were refrained from going out of their houses, hence video conferencing technology was being highly deployed across various industries to continue the work. Industries provided Work from Home and remote working options to their employees to prevent the spread of coronavirus. Government and market key players adopted new safety measures for developing the practices. The increase in sales of devices such as smart phones and tablets across the globe is expected to further drive the market growth in the post-pandemic scenario.
Recent Developments
- Microsoft partnered with SAP’s intelligent suite of Solution in January’2021. The partnership aims at building new integrations between Microsoft Teams and SAP Solution, such as SAP SuccessFactors, SAP Customer Experience and SAP S/4HANA.
- Zoom Video Communications joined with Lumen in September’2020. The partnership allows Lumen to offer Zoom as part of its Unified Communications and Collaboration Suite. The partnership improves user experience for the Unified Communications and Collaboration Suite and customer reach for Zoom.
Global Video Conferencing Market Scope and Market Size
The video conferencing market is segmented on the basis of component, hardware, deployment mode and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Hardware
- Solution
- Services
On the basis of component, the video conferencing market is segmented into multi point control unit, hard codec and peripheral devices.
Hardware
- Multi point Control Unit
- Hard Codec
- Peripheral Devices
On the basis of control unit, the video conferencing market is segmented into multi point control unit, hard codec and peripheral devices.
Deployment Mode
- On-Premises
- Cloud
On the basis of deployment mode, the video conferencing market is segmented into on-premises and cloud.
Application
- Corporate Communications
- Training and Development
- Marketing and Client Engagement
On the basis of application, the video conferencing market is segmented into corporate communications, training and development, and marketing and client engagement.
Video Conferencing Market Regional Analysis/Insights
The video conferencing market is analysed and market size insights and trends are provided by country, component, hardware, deployment mode and application as referenced above.
The countries covered in the video conferencing market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
North America dominates the video conferencing market because of the adoption of video conferencing solutions, and high demand for continuous access to high-quality internet and visual meetings within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the shift to the remote working model in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Video Conferencing Market
The video conferencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to video conferencing market.
Some of the major players operating in the video conferencing market are
- Microsoft (US)
- Huawei Technologies Co., Ltd. (China)
- Cisco Systems, Inc. (US)
- Adobe. (US)
- Zoom Video Communications, Inc. (US)
- Google LLC (US)
- Avaya Inc. (US)
- LogMeIn, Inc. (US)
- Logitech. (US)
- Barco. (Belgium)
- StarLeaf. (UK)
- Pexip® AS (Norway)
- Amazon Web Services, Inc. (US)
- Blue Jeans Network Inc. (US)
- Enghouse Systems Limited (Canda)
- Qumu Corporation (US)
- Lifesize (US)
- Kaltura, Inc. (US)
- Kollective Technology, Inc. (US)
- Sonic Foundry (US)
- Fuze inc. (US)
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