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Video Conferencing Market Latest Industry Trends, Size, Share, Statistics, Applications and Competition Strategies by 2026, Fortune Business Insights

Video Conferencing Market Size, Share and Global Trend By Component (Hardware & Software), By Industry Vertical (Corporate Enterprise, Health Care, Government and others), By Geography Forecast till 2028

Mar 01, 2021 (The Expresswire) -- The growing demand for next-gen communication tools is likely to expand the global video conferencing market during the forecast period. Fortune Business Insights in a report, titled " Video Conferencing " Market Size, Share and Global Trend By Component (Hardware and Software), By Industry Vertical (Corporate Enterprise, Health Care, Government, and others) and Geography Forecast till 2028,” states that rapid urbanization and automation is one of the chief drivers of the market. In addition to this, these advances are expected to transform the future of next-gen tools.

For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/video-conferencing-market-100293

Introduction of Disruptive Technologies such as VaaS Bodes Well For the Market

Video conferencing enables real-time sharing of high-quality audio and video images among multiple sites. In addition to this, video conferencing solutions provide on-demand services via over-the-top video distribution. Rising awareness about these benefits is expected to drive the market in the upcoming years. Furthermore, video conferencing technology enables its users to experience live streaming videos, which in turn, is likely to fuel demand for video conferencing systems by 2028. Rapid development in audio and video cloud streaming services is another factor boosting the market’s growth. The market for advanced video communication solutions is growing at a rapid pace, which acts as a potential growth trigger.

Video Conferencing Market Landscape and Market Scenario Includes:

  • Current market size estimate

  • Revenues by players Top Companies

  • Market size by product categories

  • Market size by regions/country

“High-end developers are investing their time to develop innovative video conferencing solutions,” said a lead analyst at Fortune Business Insights. “The rising adoption of emerging technologies such as machine learning and artificial intelligence (AI) is further expected to help developers build advanced video conferencing software,” he added. To add to this, some of the recent developments in the market include the adoption of AI and cloud streaming services in online conference videos.

The rising demand for next-generation communicating tools, urbanization, and automation are some of the other factors likely to fulfill the changing customer requirements. This, as a result, is anticipated to enable growth in the market.

Video conferencing can be used in several areas such as digital classrooms, smart factories, automated talent acquisition, e-healthcare, and video-driven customer engagement. The upsurge in cloud computing services is expected to push growth in the video conferencing market. The rising penetration of social media platforms such as WhatsApp, Google Duo, Skype among others in smartphones and tablets is driving the market.

Key Market Driver Increased adoption of Video as a Service (VaaS), growth in video cloud streaming online service

Key Market Restraint - Network complexity and technical difficulties involved in video streaming

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Major Segments Mentioned:

1. By Component

  • Hardware

  • Software

2. By Industry Vertical

  • Corporate Enterprise

  • Health Care

  • Government

  • Education

  • Others

3. By Geography

  • North America (the USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)

Growing Number of Online Users in APAC Garners Growth for the Market

APAC is anticipated to hold a major share in the global video conferencing market during the forecast period. This is primarily on account of the high adoption of video-conferencing platforms such as Instagram, Facebook, and their large online customer base. Among countries in this region, Australia and India have the highest adoption of video conferencing solutions owing to their huge online user base.

The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.

Important Features that are under Offering and Key Highlights of the Market Report:

  • Detailed overview of Market Share

  • Changing market dynamics of the industry

  • In-depth market segmentation by Type, Application, etc.

  • Historical, current and projected market size in terms of volume and value

  • Recent industry trends and developments

  • Competitive landscape of Market

  • Strategies of key players and product offerings

  • Potential and niche segments/regions exhibiting promising market growth

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Top Players List:

  • Microsoft

  • West Unified Communications Services

  • Adobe Systems Incorporated

  • Arkadin

  • JOYCE CR

  • Vidyo

The integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2021-2028. Additionally, the rising adoption of e-financial services is expected to boost the global market.

Google Duo’s Advanced Cloud-based Services Offer Increasingly User-friendly Solutions

Arkadin Cloud Communications, Adobe Systems Incorporated, Logitech International S.A., JOYCE CR, Orange Business Services, Microsoft Corporation, ZTE Corporation, West Unified Communications Services, and Vidyo, Inc. are some of the leading players operating on the global video conferencing market. Companies are planning to focus on acquisitions, partnerships, and new product launches to stay industry-focussed and broaden their portfolio. For instance, West Unified Communication Services announces the acquisition in 2021 with Flowroute. The aim of this strategic decision was to expand the formers diverse network, especially in APAC. Some of the significant mergers and acquisitions (MandA) in the video conferencing market are listed below:

  • Google Duo implemented cloud-based solutions in its different applications in April 2021. This implementation enables users to send and store audio and video messages up to 30 seconds long.

  • Cisco announced the acquisition of Assemblage Entertainment Pvt. Ltd. in March 2021. The aim of this acquisition was to adopt VaaS in video conferencing apps and strengthen the video conference market.

  • 8X8 acquired Jitsi video communications technology in Oct 2021 to extend its 8x8’s cloud technology platform and improve the company’s video collaboration capabilities.

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Major Table of Content for Video Conferencing Market:

  1. Introduction

  2. Executive Summary

  3. Market Dynamics

  4. Competition Landscape

  5. Key Market Insights and Analysis, By Segments

  6. Global Video Conferencing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

TOC Continued.....!

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

https://www.fortunebusinessinsights.com/industry-reports/video-conferencing-market-100293

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Press Release Distributed by The Express Wire

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