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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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI3003
  • Published Date: Oct 2021
  • Report Format: PDF

Industry Trends

Video Conferencing Market size exceeded USD 15 billion in 2020 and is projected to expand at around 23% CAGR from 2021 to 2027. The growing integration of technologies, such as Artificial Intelligence (AI), machine learning & the Internet of Things (IoT), in video conferencing products & solutions is propelling the industry growth. Moreover, the technologies have helped companies to incorporate advanced features to their existing video conferencing products & solutions and provide an enhanced meeting experience to the end-users.
 

Video Conferencing Market

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Active participant framing, resolution upscaling, virtual backgrounds, acoustic fencing, active noise cancellation, real-time translation, facial recognition, automated note taking capabilities, personal voice assistants, and proximity detection are some of the AI-enabled video conferencing features that have supported players to improve their end-user experience.
 

The coronavirus pandemic has exponentially driven the market demand in 2020 owing to lockdowns imposed by the regional governments, resulting in travel restrictions and shut down of offices, educational institutes & other public meeting places. Furthermore, due to the closure of office spaces, employees have started working from home and are utilizing these products & solutions to conduct discussions & run daily operations.
 

Expanding cloud computing industry in the U.S.

The U.S. video conferencing market is forecast to register growth rate of above 19% through 2027, led by the growing adoption of cloud-based solutions. With the sudden increase in video conference meetings, several video conferencing companies, such as Google LLC, Microsoft Corporation & Zoom Video Communications Inc., have introduced technologically advanced cloud-based videoconferencing solutions to create an enhanced application for users. The solutions allow users to download the application on multiple devices, such as smartphones, tablets & laptops, fueling the market revenue.
 

Technological advancements in desktop video conferencing solutions

The desktop segment is estimated to observe nearly 27% gains during 2021-2027. Desktops help in avoiding investments in audio & video equipment, thus saving time & money compared to conventional boardroom meetings. The enhancement in desktop features, such as touch screen control, in-built stereo speakers, faster processing chipset & higher pixel density, has improved the user’s video conferencing experience. Similarly, improvements in pre-installed video cameras in laptops or webcams, offering 4K or 1080p video shooting or capture, has augmented the market demand.
 

Evolving corporate sector in UK to foster market growth

UK Video Conferencing Market Size By Application

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In 2020, the corporate sector accounted for over 60% of the UK video conferencing market share and will witness steady growth through 2027 impelled by the closure of offices globally. With sudden shutdown of offices, several Small Medium Enterprises (SMEs) have shifted to video conferencing solutions to organize virtual meetings for business continuity. There were about 5.5 million small businesses in the UK at the start of 2021 and SMEs held more than 99% of the business population (5.6 million businesses). Small businesses adopting cloud-based collaboration solutions for cost-effectiveness will boost the cloud-based virtual collaboration market demand. The increasing usage of advanced digital solutions across the corporate sector will enhance the industry outlook.
 

Rising IT infrastructure development initiatives in Asia Pacific

Asia Pacific Video Conferencing Market Size By Country

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Asia Pacific video conferencing market size is expected to achieve 26% CAGR during the forecast timeframe, propelled by progressive government initiatives in the region. The schemes offered are focused on increasing accessibility & affordability of the Internet & related services, thus fast-tracking digital transformation. For instance, in January 2021, a Memorandum of Understanding (MoU) was signed between India and Japan to promote the development of telecom security, 5G technologies, and submarine optical fiber cable systems. The enhancement in technology will increase the feasibility of digital services, driving the regional market expansion.
 

Offering high-performance solutions forms a key strategy amongst market players

Key players operating in the industry include Google Inc., Adobe Systems Inc., Avaya Inc., BlueJeans Network, Cisco Systems Inc., LogMeIn Inc., Citrix Systems, Inc., Fuze Inc., Highfive, Microsoft Corporation, Premiere Global Services Inc., Huawei Technologies Co., Ltd., KOLLECTIVE, Lifesize Inc., MediaPlatform, Pexip, Polycom Inc., ReadyTalk, uStudio Inc., Zoom Video Communication Inc., Vbrick, and Vidyo Inc.
 

Global Video Conferencing Market Share By Company

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This market research report on video conferencing solutions includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 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

 

Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

The Zoom Video Communication Inc. accounted for around 15% of the video conferencing market share in 2020.

The market size of video conferencing is predicted to cross USD 75 billion in 2027 with around 23% CAGR between 2021 and 2027, says this GMI report.

The U.S. video conferencing is projected to witness 19% CAGR up to 2027 on the back of the adoption of technologically advanced cloud-based solutions across Microsoft Corporation, Google LLC and Zoom Video Communications Inc.

Owing to the introduction of touch screen control and faster processing chipset, the desktop video conferencing is gaining more customer interest and is likely to grow at 27% CAGR through 2027.

Adobe Systems Inc., Cisco Systems Inc., Google Inc., BlueJeans Network, Huawei Technologies Co., MediaPlatform, Zoom Video Communication Inc. and Microsoft Corporation are some of the key industry players.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 22
  • Tables & Figures: 569
  • Countries covered: 18
  • Pages: 280

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