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Video Conferencing Market Witnesses High Demand With Increasing Usage Of Video Conferencing Solutions In Various Sectors | Grand View Research, Inc

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Video Conferencing Market Witnesses High Demand With Increasing Usage Of Video Conferencing Solutions In Various Sectors | Grand View Research, Inc

January 13
07:40 2021
Video Conferencing Market Witnesses High Demand With Increasing Usage Of Video Conferencing Solutions In Various Sectors | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to the report published by Grand View Research, Inc., factors such as increasing usage of video conferencing solutions in corporate meetings, education institutes and government conferences among others, along with the rapidly growing communications infrastructure are propelling the market growth and expansion.

The global video conferencing market size is expected to reach USD 8.56 billion by 2027, expanding at a CAGR of 9.9% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Growing usage of these solutions in startups, educational institutes, and organizations, especially in the emerging countries of Asia Pacific, are expected to drive the market. Moreover, the proliferation of 4G-enabled mobile devices and the rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.

Recently, online education and telemedicine have observed a spurt in usage and subscribers in developed as well as emerging economies, such as U.K., U.S., Japan, India, and China. In addition to this, major companies are now keen towards establishing market linkages with the video conference platforms or to come up with their own version of a new platform, to gain the maximum out of this growing demand. For instance, in January 2021, Microsoft announced its latest video conferencing platform called Teams, which is about to be launched and gain a strong market hold in these days of the pandemic.

In response to the outbreak of the COVID-19 pandemic, governments are providing funding to the law enforcement agencies to adopt these solutions for carrying out their operations remotely. For instance, in April 2020, the Ohio Supreme Court announced a funding of USD 4 million to high courts for purchasing video conferencing systems. Demand for remote workforce management using these systems has increased owing to rapid globalization. The deployment of video conferencing solutions has enabled businesses to communicate with multiple teams or clients in different locations more effectively.

U.S. video conferencing market size, by component, 2016 - 2027 (USD Billion)

Video Conferencing Market Report Highlights

  • In January 2021, European video conferencing developer, TrueConf, has announced the arrival of the TrueConf MCU solution. The MCU offers a cutting-edge meeting platform experience that can scale existing videoconferencing systems and allow for collaboration with traditional meeting room systems.

  • Based on deployment, cloud-based solutions are anticipated to witness increased demand due to the growing trend of Bring Your Own Device (BYOD). These solutions enable users to join a meeting using any device through a web-based browser

  • On the basis of enterprise size, the small and medium enterprises segment is expected to witness significant growth in the coming years owing to the increasing adoption of video conferencing solutions by SMEs for interviewing new candidates

  • By end-use, the healthcare sector is expected to witness considerable growth in the future owing to the increasing focus of the mental health practitioners in the healthcare organizations, such as the National eTherapy Centre and Commonwealth Department of Health, on the usage of video conferencing to provide remote consultations to their patients

  • Region-wise, Asia Pacific is anticipated to witness the fastest growth in the coming years owing to the strong presence of Business Process Outsourcing (BPO) and Knowledge Process Outsourcing (KPO) companies. In addition, a major global manufacturing and IT companies have established their R&D and production centers in the region

“Would you Like/Try a Sample Report” Click the link below:https://www.grandviewresearch.com/industry-analysis/video-conferencing-market/request/rs1

Video Conferencing Market Segmentation

Grand View Research has segmented the global video conferencing market on the basis of component, deployment, enterprise size, end-use, and region:

Video Conferencing Component Outlook (Revenue, USD Million, 2016 – 2027)

  • Hardware

    • Camera

    • Microphone & Headphone

    • Others

  • Software

  • Services

    • Professional Service

    • Managed Service

Video Conferencing Deployment Outlook (Revenue, USD Million, 2016 – 2027)

  • On-premise

  • Cloud

Video Conferencing Enterprise Size Outlook (Revenue, USD Million, 2016 – 2027)

  • Large Enterprises

  • Small & Medium Enterprises (SMEs)

Video Conferencing End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Corporate

  • Education

  • Healthcare

  • Government & Defense

  • BFSI

  • Media & Entertainment

  • Others

Video Conferencing Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

List of Key Players of Video Conferencing Market
• Array Telepresence Inc.
• Adobe Inc.
• Avaya Inc.
• Huawei Technologies Co.
• Ltd.
• Logitech International S.A.
• West Corporation
• Plantronics Inc.
• Vidyo Inc.
• Microsoft Corporation
• Cisco Systems Inc.

Have Any Query? Ask Our Experts for More Details on Reporthttps://www.grandviewresearch.com/inquiry/4347/ibb

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About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/video-conferencing-market


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