Video Conferencing Market Size By Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices], Software [On-premise, Cloud], Service [Professional, Managed]), By Type (Room-Based, Telepresence, Desktop), By Application (Corporate Enterprise, Education, Government, Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: May 2020  |  Report ID: GMI3003  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 270   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Video Conferencing Market size surpassed USD 14 billion in 2019 and is anticipated to grow at over 19% CAGR between 2020 and 2026. The advent of several technologies, such as cloud computing, IoT, AI, VR, and advanced video compression, will drive the market growth.
 

The integration of VR into video conferencing has provided an innovative solution for conducting events in 3D, enabling highly interactive and engaging experience to customers. The emergence of AI-enabled solutions has helped in improving the quality of video and enhancing conferencing experience for both businesses and workforce.
 

Video Conferencing Market

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The video conferencing market is expected to witness high growth during the coronavirus outbreak. Corporate enterprises and government authorities are increasingly adopting video conferencing as an essential tool to connect with remote customers, workforces, and employees to prevent direct contact. The market players are utilizing the opportunity by expanding their services for enterprises and government organizations.
 

The imposed travel ban has forced enterprises in foreign markets to adopt video conferencing software for maintaining business continuity. Several companies are implementing innovative employee training & recruitment processes through video calls. In addition, government authorities are using video conferencing services for connecting with healthcare professionals and administrative bodies of other countries.
 

Video Conferencing Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 14 Billion
Historical Data for: 2015 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 19% 2026 Value Projection: USD 50 Billion
Pages: 270 Tables, Charts & Figures: 410
Geographies covered (18): U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE
Segments covered: Component (Hardware, Software, Services), Type, Application and Region
Companies covered (22): Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Corporation, Citrix Systems Inc., Fuze Inc., Google Inc., Highfive, Huawei Technologies Co. Ltd., KOLLECTIVE, Lifesize Inc., LogMeIn Inc., MediaPlatform, Microsoft Corporation, Pexip, Polycom Inc., Premiere Global Services Inc., ReadyTalk, uStudio Inc., Vbrick, Vidyo Inc. and Zoom Video Communication Inc.
Growth Drivers:
  • Growing demand for unified communication in the U.S. and Europe
  • Increasing trend of work from home and online learning globally
  • Demand for high-speed communication infrastructure in Asia Pacific
  • Increasing trend for cloud applications in Latin America
  • Rising need to reduce communication cost among organizations
Pitfalls & Challenges:
  • Cost & complexity of solutions
  • Volatile competitive landscape

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Growing demand for multipoint capability has led to increase growth of MCUs as a key component in video conferencing networks

The hardware component segment in the video conferencing industry is expected to witness a growth of over 16% during the forecast timespan. The growing globalization of businesses has resulted in the increased demand for solutions that support conferencing from multiple locations. The Multipoint Control Unit (MCU) is witnessing high adoption as it enables businesses to organize group conferencing by connecting endpoint devices. The server manages stability, data security, video & audio quality and delivers efficient video communication for all conference users.
 

The industry players are adopting the solution to enhance collaboration and interaction among geographically dispersed teams. They are increasingly focusing on reducing business travel costs, which has created a major opportunity for the industry players. These players are offering solution with MCU functionality. For instance, Zoom Video Communications, Inc. offers MCU integrated solution as a part of its hardware package.
 

Demand for high quality and in-person video meeting experience is increasing the adoption of telepresence technology

The telepresence segment accounted for over 40% of the global video conferencing market share in 2019. Telepresence facilities offer high-performance video quality, studio-based audio, and conferencing rooms designed for convenience & luxury. Studio-based solution allows businesses to improve engagement with customers while reducing traveling costs. Technological advancements, such as 3D telepresence, are providing more in-person experiences, improving remote communication.
 

Industry players, such as Huawei Technologies Co. Ltd., Microsoft Corporation, Cisco Systems, Inc., Teliris, Inc., and Sony Corporation, are the early market entrants in the telepresence sector. In the context of the current COVID-19 crisis, market players are offering high-end technology to enhance video meeting experience. For instance, in March 2020, Digitial Video Enterprises, Inc. launched HDR Studio Stage for helping companies to create impressive business conferences and live events. The new holographic telepresence will allow it to reach large number of customers and reduce exposure to the coronavirus.
 

Rise in internet infrastructure development initiatives is resulting in Asia Pacific market growth

Asia Pacific Video Conferencing Market By Region

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Asia Pacific video conferencing market revenue is predicted to expand at 23% CAGR through 2026 due to favorable government initiatives for enhancing the network infrastructure coupled with adoption of advanced technologies across corporate and healthcare sectors. The Chinese government plans to develop new fiber networks aimed at improving Internet networks in the country. High-speed internet connectivity is the primary requirement for enhanced video meeting experience. Government plans for improving internet access will facilitate seamless connectivity, enhancing communication during video meetings.
 

Another factor playing a major role in the adoption of video conferencing solutions in Asia Pacific region is the COVID-19 pandemic situation. Countries including China, Japan, India, and South Korea are amongst the worst-hit markets. These countries have experienced economic hit by the coronavirus outbreak and have imposed stringent lockdown. The Indian government announced over 50 days lockdown to contain the increasing number of coronavirus cases in the country. The lockdown has forced businesses and educational institutes to conduct their operations remotely, impacting the market growth.
 

Increased digitization in the government sector and the need to effectively communicate with citizens during the coronavirus pandemic

The government sector has witnessed rapid transformation with the adoption of digitalization in recent years. Government agencies and institutions need to have secure, efficient, and reliable communications to collaborate and update information among disparate offices in real-time. This has encouraged government authorities to adopt the video conferencing solution for public hearings, interviews, training, and press conferences.
 

Government agencies are expected to perform their duties amid natural disasters, technological disruptions, and pandemics. The ongoing COVID-19 crisis has increased the use of solutions for ensuring critical information is effectively communicated to masses. In April 2020, the Rail Land Development Authority (RLDA), a statutory body under the Indian Ministry of Railways, conducted pre-bid meetings for leasing various land parcels via video conferencing.
 

With the number of confirmed COVD-19 cases in the UK reaching over 233,100 in May 2020, the UK government is considering video conferencing platform Zoom for conducting parliament meeting virtually to prevent the spread of the virus. The platform allows the government to conduct parliament sessions with 50 members present in the chamber.
 

Focus on integrating advanced features by industry players to remain competitive in the market

Video conferencing company market share

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Prominent companies operating in the video conferencing market are Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Systems, Inc., Citrix Systems Inc., Fuze Inc., Google Inc., Highfive, Huawei Technologies Co. Ltd., KOLLECTIVE, Lifesize Inc., LogMeIn Inc., MediaPlatform, Microsoft Corporation, Pexip, Polycom Inc., Premiere Global Services Inc., ReadyTalk, uStudio Inc., Vbrick, Vidyo Inc., and Zoom Video Communication Inc.
 

Industry players are focusing on offering a wide range of video conferencing products and services targeting different levels of enterprises. The high competition in the market is forcing emerging players to introduce innovative services for strengthening their position and increasing market share.
 

For instance, in April 2020, Facebook, Inc. announced to launch Messenger Rooms, the solution allowing users to conduct conference with up to 50 people. The company has focused on privacy and security features due to the rising concerns over cybersecurity in video conferencing applications mainly during coronavirus pandemic. The features will allow the company to capture more customer engagement with video messaging platforms.
 

The video conferencing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:
 

Market by Component

  • Hardware
    • Multipoint Control Unit (MCU)
    • Codecs
    • Peripheral devices
  • Software
    • On-premise
    • Cloud
  • Service
    • Professional
    • Managed

Market by Type

  • Room-based
  • Telepresence
  •  Desktop

Market by Application

  • Corporate Enterprise
  • Education
  • Government
  • Healthcare
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia & New Zealand (ANZ)
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
       

 

Frequently Asked Questions (FAQ) :

The market size of video conferencing surpassed USD 14 billion in 2019.
The industry share of video conferencing is anticipated to grow at over 19% CAGR between 2020 and 2026.
During this COVID-19 pandemic, corporate enterprises and government authorities are increasingly adopting video conferencing as an essential tool to connect with remote customers, workforces, and employees to prevent direct contact, influencing the market demand.
Asia Pacific market is predicted to expand at 23% CAGR through 2026 due to favorable government initiatives for enhancing the network infrastructure coupled with adoption of advanced technologies across corporate and healthcare sectors.
Prominent companies in the market are Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Systems, Inc., Citrix Systems Inc., Fuze Inc., Google Inc., Highfive, Huawei Technologies Co. Ltd., KOLLECTIVE, Lifesize Inc., LogMeIn Inc., MediaPlatform, Microsoft Corporation, Pexip, Polycom Inc., Premiere Global Services Inc., ReadyTalk, uStudio Inc., Vbrick, Vidyo Inc., and Zoom Video Communication Inc.
Telepresence facilities offer high-performance video quality, studio-based audio, and conferencing rooms designed for convenience & luxury, which makes it popular among the end-users.

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Premium Report Details

  • Published Date: May 2020
  • Pages: 270
  • Tables: 377
  • Charts / Figures: 33
  • Companies covered: 22
  • Countries covered: 18

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