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, 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 need to improve workforce productivity, reduce business travel cost, and optimize business operations has increased the demand for video conferencing systems. According to Virgin Media, the UK-based telecommunication company, businesses can reduce travel costs by 20% by adopting video conferencing. The benefit of reducing operational and management cost coupled with enhancing interaction and collaboration among geographically dispersed teams will boost the market expansion.
 

The global video conferencing market have witnessed exponential growth since 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. In February 2020, Zoom Video Communications, Inc. increased the 40-minute time limit on meetings with more than two participants, allowing unlimited time to collaborate on video calls for its basic (free) users in China.
 

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.
 

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

U.S. video conferencing market size by component

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The hardware component segment is poised to register around 16% growth rate through 2026. 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.
 

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

The telepresence segment accounted for over 40% 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.
 

Market players, such as Huawei Technologies Co. Ltd., Microsoft Corporation, Cisco Systems, Inc., Teliris, Inc., and Sony Corporation, are the early entrants in the telepresence sector. In the context of the current COVID-19 crisis, companies 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.
 

Increased digitization in the government sector during the coronavirus pandemic

The government sector has observed 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 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.
 

 Rise in internet infrastructure development initiatives in Asia Pacific

Asia Pacific video conferencing market size by country

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Asia Pacific video conferencing market is predicted to expand at a CAGR of 23% during the forecast timespan, due to favorable government initiatives for enhancing the network infrastructure coupled with the 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.
 

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

Prominent market players include 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 participants 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 technology surpassed USD 14 billion in 2019 and 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.

Premium Report Details

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

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