Video Conferencing Market To Reach USD 10.92 Billion by 2027; Internet Penetration to Influence Growth, says Fortune Business Insights ™ | Instant News


Pune, 12 Oct 2020 (GLOBE NEWSWIRE) – Global video conferencing market the size is estimated to reach USD 10.92 billion by 2027, showing a CAGR of 9.7% over the forecast period. Increasing globalization and high demand for internet connections are factors that are expected to drive market growth, said Fortune Business Insights, in its report entitled “Video Conferencing Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions and Services), By Conference Type (Telepresence, Integrated, Desktop, and Service-Based Video Conferencing Systems), Deployment Based (Cloud, On-premises), Based Company Size (Small and Medium Enterprises (SMEs), Large Companies), Based on Applications (Small Rooms, Chat Rooms, Intermediate Rooms, and Large Rooms), and Regional Forecasts, 2020-2027. ” The market size reached USD 5.32 billion in 2019.

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Report on video conferencing market incl:

  • An in-depth study of the market
  • Vital market trends and drivers
  • The development of a growing industry
  • Comprehensive data on leading players
  • The influence of COVID-19 on the market

Market Movers:

Increased Acceptance of Cloud Based Solutions to Enhance Growth

The growing adoption of cloud-based video conferencing solutions in government, IT and telecommunications, education, and other sectors will help expand the market. The increasing demand for such solutions to increase business productivity, reduce maintenance costs and speed up processes will enable rapid market expansion. Furthermore, the introduction of cloud-based video solutions by large companies is expected to promote healthy market growth. For example, in June 2020, Yealink Network Tech, a communications equipment manufacturer announced the launch of the “Yealink Meeting” cloud-based video solution. In addition, there is an increasing demand for video conferencing solutions in the banking and financial sectors due to secure communication connections between clients and colleagues, thereby increasing operational efficiency. This factor is expected to bode well for the market.

The Increasing Need for Video Solutions to Help Development Amid the Corona Virus

The coronavirus crisis has led to the cancellation of various company events, including international seminars, trade shows, product launches and more. This encourages corporate organizations to adopt video conferencing solutions like Zoom, Teams, google meetings to host such events, which have proven to be profitable for the market. As per an article published by CNBC, in 2020, Zoom is adding 2.22 million monthly active users. Additionally, Zoom shares rose 40% in February, the best month since the company went public in April. In addition, the increased use of video conferencing in government and law enforcement agencies will increase market demand in times of a pandemic. For example, in April 2020, India’s Supreme Court issued notifications to regional courts to conduct their judgments via video conference.

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Regional Analysis:

A Leading Company Presence to Help Growth in North America

The North American market is expected to lead the global market during the forecast period due to the region’s major players such as Zoom Video Communications, Inc., Microsoft Corporation, and others across the US and Canada. Markets in Asia Pacific are expected to witness high growth rates during the forecast period due to the increasing demand for video collaboration solutions in various sectors. The increased product launch will encourage healthy market growth in the region. For example, in June 2020, AVer Information Inc. announced the launch of a certified video collaboration solution for Microsoft Teams meeting devices in partnership with Microsoft Corporation. This collaboration will accelerate the simple, fast, and cost-effective offering of Teams meeting products for large and midsize companies.

Key Development:

July 2020: – Reliance Industries Limited introduces a cost-effective video conferencing solution – “JioMeet” as a rival to the Zoom application. JioMeet supports HD quality video and audio calls with more than 100 participants and offers various features such as meeting schedules, screen sharing and more.

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List of Major Companies in the Video Conferencing Market:

  • Cisco Systems, Inc. (California, United States)
  • Verizon Communications Inc. (New York, United States)
  • Polycom Inc. (Plantronics, Inc.) (California, United States)
  • Alphabet Inc. (Google LLC) (California, United States)
  • Adobe Systems (California, United States)
  • Microsoft Corporation (New Mexico, United States)
  • Vidyo Inc. (New Jersey, United States)
  • Zoom Video Communication Inc. (California, United States)
  • Logitech International SA (Lausanne, Switzerland)
  • Panasonic Corporation (Osaka, Japan)
  • ZTE Corporation (Shenzhen, China)
  • Fuze Inc. (Massachusetts, United States)
  • Huawei Technologies Co. Ltd. (Shenzhen, China)
  • Avaya Inc. (California, United States)
  • Facebook Inc. (California, United States)
  • Lifesize Inc. (Texas, United States)
  • StarLeaf (Watford, United Kingdom)
  • Premiere Global Services, Inc. (PGi) (Georgia, United States)
  • ezTalks Technology Co., Ltd. (Wan Chai, Hong Kong)
  • Bharti Airtel Limited (New Delhi, India)
  • Reliance Jio Infocomm Limited (Mumbai, India)

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Detailed Table of Contents:

  • introduction
    • Definition, Based on Segments
    • Research Methodology / Approach
    • Data source
  • Business plan summary
  • Market Dynamics
    • Macro and Microeconomic Indicators
    • Drivers, Limits, Opportunities and Trends
    • Impact of COVID-19
      • Short Term Impact
      • Long Term Impact
  • Competition Landscape
    • Business Strategies Adopted by Major Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Global Video Conferencing Market Share Analysis and Matrix, 2019
  • Key Market Insights and Analysis, Based on Segments
  • Global Video Conferencing Market Size Estimates and Estimates (Quantitative Data), by Segment, 2016-2027
    • By Component (Value)
    • By Conference Type (Value)
      • Telepresence System
      • Integrated system
      • Desktop System

Advanced….

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