Video Conferencing Systems Market was valued at a worth of USD 20 billion in 2021 and is expected to grow at a CAGR of more than 10% during the forecast period 2022–2031.
Video based communication has gained significant popularity in the corporate enterprises, owing to their global expansion. This has created the need for effective communication methods for easy and quick collaboration. Integration of technologies such as cloud, mobile and social media has led to evolve video conferencing from room based high maintenance technology to latest scalable and cost-effective mobile solution. Open source video conferencing platforms such as skype, Facebook messenger, Apple’s FaceTime and others has also changed the face of market in a positive manner.
Market Dynamics
Integration of advanced technology is one of the key drivers, which is expected to influence the market growth during the forecast period. Video conferencing is also expanding to integrate with advanced features such as Artificial intelligence, IoT and analysis. Integration of both features would help in enhancing the overall user experience, for instance internet and IoT can automatically sync new features in the background and can provide automatic notification of each participants. In October 2018, Cisco takes Video conferencing to an advanced level by AI and IoT. The aim of this development is to track current sales, track orders, and shipment information.
Demand for cloud-based video conferencing platforms for achieving higher scalability also acts as a key industrial trend behind the market growth. Special features such as ease of connection with effective end point security also affects the market in a positive manner. For instance, in May 2018, Polycom launched new cloud-based meeting room technology for imparting simplified management and gather insights from their meeting room technology.
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Key Players
Some of the major players operating in the market are Avaya, Inc.; Cisco Systems, Inc.; Microsoft Corporation; Plantronics, Inc.; Zoom Video Communications, Inc.; Huawei Technologies Co., Ltd; Polycom Inc. The market is highly fragmented due to large number of players in the space.
By Component
- Hardware
- Software
By Type
- Room based
- Telepresence
- Desktop
By Application
- Corporate Enterprise
- Education
- Healthcare
- Government
- Others
DC Description
Video conferencing, skype, telehealth, IP cameras, telemedicine, Cisco video conferencing, corporate video conferencing, desktop video-conferencing
Global Video Conferencing Systems Market: Regional Analysis
The countries covered in the regional analysis of the Global Video Conferencing Systems market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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