North America Wearable Conferencing Technology Market, By Offering (Hardware, Software, and Services), Conferencing Type (Audio Conferencing and Video Conferencing), Deployment Mode (On-Premise and Cloud), Organization Size (Small & Medium Organization and Large Organization), Application (Consumer and Enterprise), End Use (Corporate, Education, Healthcare, Government and Defense, Banking, Financial Services and Insurance (BSFI), Media and Entertainment and Other), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2029
Market Analysis and Insights: North America Wearable Conferencing Technology Market
North America wearable conferencing technology market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.6% in the forecast period of 2022 to 2029 and is expected to reach USD 2,546.71 million by 2029. Surging focus and adoption of remote working culture is boosting the North America wearable conferencing technology market.
Wearable technology, often known as "wearables," is a class of electronic devices that can be worn on the body. The gadgets are hands-free devices with practical applications that are powered by microprocessors and have the ability to send and receive data via the Internet. Real-time cooperation between several devices is possible with conferencing solutions. Participants can join a single digital place using their mobile devices, laptops, or personal computers (PCs) using a conferencing platform. Users can use an Internet connection to access conferencing technologies that are supplied as software as a service (SaaS). A web conferencing platform can also be supplied on-premises, utilizing an organization's data center capabilities. Thus, it is a technology, which is used in the devices such as Google Glasses or Microsoft HoloLens for the application of conferencing and collaborating via audio or video medium. Currently this market has wide applications in the corporate world for professional collaborations and in educational and training sectors.
The surging focus and adoption of remote working culture acts as a driver in the North America wearable conferencing technology market. The intermittent nature of wind energy prove to be a challenge. However, increase in various strategic decisions such as partnerships are expected to provide opportunities for the North America wearable conferencing technology market. The high cost of conferencing infrastructure can prove to be a restrain for the market.
The North America wearable conferencing technology market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the North America Wearable conferencing technology market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
North America Wearable Conferencing Technology Market Scope and Market Size
The North America wearable conferencing technology market is segmented based on offering, conferencing type, deployment mode, organization size, application and end use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on offering, the North America wearable conferencing technology market is segmented into hardware, software and services. Hardware is further sub-segmented into camera, microphone and others. In addition, services is further sub-segmented into managed services and professional services. In 2022, hardware is expected to dominate the North America wearable conferencing technology market as it generates more revenue and more research and development in hardware by large organizations.
- Based on conferencing type, the North America wearable conferencing technology market is segmented into audio conferencing and video conferencing. In 2022, the video conferencing segment is expected to dominate as it facilitates virtual meetings and collaboration on digital documents and shared presentations by connecting individuals in real time.
- Based on deployment mode, the North America wearable conferencing technology market is segmented into on-premise and cloud. In 2022, on-premise segment is anticipated to dominate the market as it help to provide security and privacy of the infrastructure as it is locally situated. The deployment of this type is cheaper compared to cloud.
- Based on organization size, the North America wearable conferencing technology market is segmented into small & medium organization and large organization. In 2022, large organization segment is anticipated to dominate the market as the solution requires higher capital investment and the cost is justified by the companies higher revenue generation by the deployment of this technology.
- Based on application, the North America wearable conferencing technology market is segmented into consumer and enterprise. In 2022, enterprise segment is anticipated to dominate the market as it the solution help the employees to working remotely with ease and efficiency.
- Based on end use, the North America wearable conferencing technology market is segmented into corporate, education, healthcare, government and defense, banking, financial services and insurance (BSFI), media and entertainment and other. In 2022, corporate segment is anticipated to dominate the market as conferencing solutions help the employees to collaborate and work on shared documents together in real time or through screen sharing.
North America Wearable Conferencing Technology Market Country Level Analysis
The North America Wearable conferencing technology market is analyzed, and market size offering, conferencing type, deployment mode, organization size, application and end use as referenced above.
The countries covered in the North America wearable conferencing technology market report are U.S., Canada and Mexico. U.S. dominates the North America Wearable conferencing technology market due to the key players’ presence from the wearable devices as well as the conferencing software providers. Canada holds the second place as the country is seeing development in the AR & MR market with research facilities of small companies and demand from healthcare industry.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Increasing penetration of smart devices and internet services is boosting the market growth of North America wearable conferencing technology market
The North America wearable conferencing technology market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical period 2011 to 2020.
Competitive Landscape and North America Wearable Conferencing Technology Market Share Analysis
The North America wearable conferencing technology market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the North America wearable conferencing technology market.
The major companies which are dealing in the North America wearable conferencing technology are Logitech, Vuzix Corporation, Vidyo, Inc., Ricoh, Zoom Video Communications, Inc., Microsoft, LogMeIn, Inc., RealWear, Inc., DIALPAD, INC., Google (a subsidiary of Alphabet Inc.), Chironix, Seiko Epson Corporation, Iristick, Robert Bosch GmbH, ezTalks, HTC Corporation, Sony Corporation, Lenovo, EON Reality, TeamViewer among others in domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which accelerates the North America wearable conferencing technology market.
- In October 2021, LogMeIn, Inc. has released GoToConnect Legal, a new version of its unified communications as a service (UCaaS) platform. The platform is designed to meet the demands of legal professionals by facilitating collaboration with clients and colleagues in order to maximize billable hours. The solution will allow minimizing unbilled time, maximizing revenue, managing regulations from governing bodies, and maintaining high security in their practice. Thus, the company will help to deliver high quality and easily billable services to their clients.
- In December 2021, Vidyo, Inc. unveiled new VidyoRoom Solutions interfaces, including three new in-office video conferencing experiences tailored to deliver the best collaboration environment for hybrid teams. New interfaces for huddle rooms, meeting rooms, and boardrooms, including conference controls and support for immersive experiences, will become increasingly vital as employees try to return to the office following the pandemic, while others continue to work remotely. With this company will be able to provide user-friendly experience to its clients.