Overview:

The global video conferencing market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Video conferencing also known as video telephony is a form of communication between two or more individuals having transmission of both audio and video content. Video conferencing applications can be free or subscription based.

Market Dynamics:

The pandemic situation has led many companies to shift for work from home model which is one of the key factors driving demand for video conferencing applications, thereby propelling the market growth to a significant extent. In addition, increasing number of small and medium sized enterprises in another factor driving growth of the global video conferencing market and is expected to further fuel the market growth to a significant extent during the forecast period. However, issues related to security of personal information of users and enterprises is a key factor hampering growth of the target market.

Key Trends:

New product launch by key network operators is a key trend observed in the global video conferencing market. For instance, in July 2020, Reliance Jio Infocomm Limited launched an application namely JioMeet especially for the Indian market under the Make in India initiative. This kind of trend is expected to propel the market growth in the forecast period.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounted for highest share in terms of revenue in the video conferencing market. Well developed required infrastructure and early deployment of work from home policies are some of the key factors driving growth of the target market in North America. The market in Europe is expected to witness significant growth rate during the forecast period. However, the market in Asia Pacific is expected to witness highest growth rate in the near future. Rising flexible working policies coupled with increasing deployment of network infrastructure to support higher traffic and bandwidth are some of the key factors driving growth of the target market in Asia Pacific region.

Scope of the Report:

Detailed Segmentation:

Global Video Conferencing Market, By Component:

• Hardware
• Software
• Services

Global Video Conferencing Market, By Deployment Type:

• On-premise
• Cloud

Global Video Conferencing Market, By Verticals:

• Corporate
• Education
• Healthcare
• Government & Defense
• BFSI
• Media & Entertainment
• Others

Key Players Covered:

Key players operating in the market includes, Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Corporation, Google Inc., Microsoft Corporation, Premiere Global Services Inc., ReadyTalk, Vbrick, Vidyo Inc., and Zoom Video Communication Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Video Conferencing Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global video conferencing market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.