The global video conferencing market size is predicted to reach 6.37 billion by 2026. The rapidly progressing business dynamics is one of the key factor aiding in the adoption of video conferencing across various sectors including government, education, research, and others, says Fortune Business insights in a report, titled “Video Conferencing Market Size, Share & Industry Analysis, By Type (Telepresence, Integrated, Desktop and Service-based), By Application (Small Room, Huddle Rooms, Middle Rooms and Large Rooms), By Enterprise Size (Small and Medium Enterprises and Large Enterprises), and Regional Forecast, 2019-2026” the market size stood at USD 3.02 billion in 2018 and is expected to rise at a CAGR of 9.8% between 2019 and 2026.
The growing focus of companies towards the deployment of video conferencing systems in their business environment will create growth opportunities for the market. Video conferencing is a technological device to enhance collaboration and interaction among regional desired clients and teams, and further lowering their communication costs. The increasing awareness regarding solutions and services of video conferencing among businesses will boost the video conferencing market trends. Furthermore, the rising adoption of cloud applications in conferencing is a key factor expected to offer healthy growth of the market.
To get a detailed report summary and research scope of this market, click here:
Key Segments of the Video Conferencing Market
- Type: Under the segment, the market is divided into telepresence, integrated, desktop and service-based. The telepresence segment is expected to capture around 34.1% of market share in 2018 and is predicted to grow rapidly during the forecast period. The desktop segment is expected to account for maximum share in the forthcoming years owing to its cost-effectiveness and flexibility in video conferencing. Therefore, this factor has led to the deployment of desktop across various sectors. Furthermore, the two options of desktop comprise of software client on the user desktop or a hardware codec that doubles as a computer monitor. Some of the desktop video conferencing solutions include- Logitech BCC950, Polycom HDX 9000 Series, and others.
- Application: Under the segment, the market is classified into small rooms, huddle rooms, middle rooms, and large rooms. The small room segment is expected to grow with the highest growth rate during the forecast period. The small room conferencing application is expected to grow significantly in the foreseeable future owing to its ease-of-use and low cost. Furthermore, small rooms are useful in establishing online conference through devices such as desktops, laptops, and smartphones without the requirement of any other peripheral device. In addition, the growing adoption of browser-based and mobile video conferencing applications will augment the growth of the segment.
- Enterprise Size: Under the segment, the market is classified into small and medium enterprises and large enterprises. The large enterprises are expected to witness rapid growth owing to the rising demand for video conferencing solutions. The increasing number of formal interviews and recruitment of new employees on important procedures is expected to propel the growth of the large enterprises segment, which, in turn, will uplift the video conferencing market share.
- Geography: Under the segment, the market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Asia Pacific generated a revenue of USD 0.91 billion and is expected to grow strongly during the forecast period. The increasing demand for visual collaboration solutions for advanced automation process in the education and research sectors will foster growth in Asia Pacific. North America is expected to grow remarkably in the forthcoming years due to the increasing number of emerging start-ups, rising adoption of core communication technologies, such as Bluetooth, NFC, Wi-Fi, information-technology operations (Ops), and upcoming 5G network in this region. Rising implementation of integrated video conferencing solutions by small, medium and large enterprises in their business units will further boost the video conferencing market revenue in North America.
Some of the Major Companies in the Global Video Conferencing Market
- Cisco Systems
- Blue Jeans Network, Inc.
- Polycom Inc. (Plantronics, Inc.)
- Adobe Systems
- Logitech International S.A.
- Microsoft Corporation
- Panasonic Corporation
- ZTE Corporation
- Huawei Technologies
- Avaya Inc.
Key Industrial Developments
- November 2019 – Microsoft Corporation partnered with Cisco System to enable Cisco’s Webex video devices to connect with Microsoft’s Teams meeting services in multiple ways.
- October 2019 – AVer Information Inc. launched All-in-One Conferencing Touch Panel with Zoom Integration. All-in-One Conferencing Touch Panel enabled with AVer camera and audio technology, helps to transform any meeting room into a streamlined collaboration hub for video conferencing.
The Global Video Conferencing Market is segmented into:
Value (USD Billion)
- Small Room
- Huddle Rooms
- Middle Rooms
- Large Rooms
By Enterprise Size
- Small and Medium Enterprises
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)