Global Video Conferencing Systems Market, By Component (Hardware, Solutions, Services), Application (Corporate Communication, Training And Development, Marketing And Client Engagement), Deployment Mode (Cloud, On Premises), Vertical (Banking, Financial Services, And Insurance, IT And Telecom, Healthcare And Life Sciences, Education, Media And Entertainment, Others) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Video Conferencing Systems Market
Data Bridge Market Research analyses that the video conferencing systems market will exhibit a CAGR of 11.50% for the forecast period of 2022-2029 and is expected to reach the market value of USD 6,207.3 million by 2029.
Video conferencing is a free way to hold face-to-face meetings with others from all across the world. People use this technology for company meetings, job training sessions, or addressing board members.
The transformed global workforce is the major factor accelerating the growth of the video conferencing systems market. Furthermore, reduced travel time and cost, the importance of involving employees in determining strategic goals, and the rising need for virtual meeting rooms have overall increased the spending of companies on video conferencing are also expected to drive the growth of the video conferencing systems market. However, issues of privacy and security restrains the video conferencing systems market, whereas, internet bandwidth and technical glitch issues will challenge market growth.
In addition, 5G paving the way for video conferencing will create ample opportunities for the video conferencing systems market.
This video conferencing systems market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on video conferencing systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Video Conferencing Systems Market Scope and Market Size
The video conferencing systems market is segmented on the basis of component, vertical, deployment mode & application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the video conferencing systems market is segmented into hardware, solutions, and services. Hardware is further segmented into multipoint control unit, hard codec and peripheral devices. Peripheral devices is further sub- segmented into camera, microphone, speaker and display devices.
- On the basis of vertical, the video conferencing systems market is segmented into corporate communication, training and development, and marketing and client engagement.
- On the basis of application, the video conferencing systems market is segmented into banking, financial services, and insurance, IT and telecom, healthcare and life sciences, education, media and entertainment, others.
- On the basis of deployment mode, the video conferencing systems market is segmented into cloud, and on premesis.
Video Conferencing Systems Market Country Level Analysis
The video conferencing systems market is segmented on the basis of component, vertical, deployment mode & application.
The countries covered in the video conferencing systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the video conferencing systems market and will continue to flourish its trend of dominance during the forecast period due to the increased demand for continuous access to high-quality internet and visual meetings in this region. Asia-Pacific will however, register the highest CAGR for this period due to the increasing demand for collaboration tools, video conferencing equipment, and accessories in this region.
The country section of the video conferencing systems market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Video Conferencing Systems Market Share Analysis
The video conferencing systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the video conferencing systems market.
The major players operating in the video conferencing systems market report are Brightcove Inc., IBM, Kollective Technology, Inc., Ooyala, Inc., Panopto, Plantronics, Inc., Qumu Enterprise Video, Sonic Foundry, Vbrick, Wowza Media Systems, LLC, Vimeo, Inc., Muvi LLC, Apple Inc., Microsoft Corporation, Twitch Interactive, Inc., Southern Cross Media Group Limited, StudioCoast Pty Ltd., Telestream, LLC, Haivision, SproutVideo among other.
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