The term video conferencing simply means the visual interconnection of people who are present in diverse locations through the medium of the internet. Video conferencing tools are being widely used across various industries to promote team collaboration. Global companies that employ a remote working team deploy video conferencing tools such as Skype for Business and Zoom for online interviews. Due to the widespread promotion of remote working culture, the prominence of these tools is ever increasing. Almost 75% of users believe that the tools help in improving workplace productivity in an organization. With video classrooms now being able to provide large participation among students, the importance of video conferencing tools in the education industry can’t be stressed enough. ezTalks, for instance, provides an inter-school video collaboration platform that enables the students to record the sessions for future review. As far as large organizations are concerned, highly secure video conferencing tools are now being provided by companies such as Cisco. Cisco WebEx, for instance, has embedded AI technology which enables you to take down notes using voice commands. The meetings and transcripts can even be edited and shared with ease. With the penetration of the internet, coupled with the advancement in the cloud and AI technology, the global video conferencing market is expected to see considerable growth in the future.
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With the COVID-19 crisis affecting many global markets, a question does arise. Which market seems to be favourable for future investment? The global video conferencing market is, without a doubt, one of those. More than 1/5th of the global population is being forced to stay indoors to mitigate the impact of the virus. Video conference service providers are seeing higher traffic during these times of peril. Microsoft Teams, for instance, reported over 44 million active users each day, in March 2020. This is in comparison to less than 25 million users in November 2019. Zoom has seen a 67% rise in its daily traffic since Jan 2020. The global video conferencing market is also seeing a growing number of new entrants who are hoping to take a piece of the revenue which is currently dominated by major companies such as Zoom, Microsoft and Cisco, which in turn is further aiding for the growth of the market.
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The detailed research study provides qualitative and quantitative analysis of video conferencing market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- On the basis of offering, the solutions segment is expected to show the maximum growth, due to the increasing demand for cloud-based solutions that promote video conferencing
- Large organizations held the larger share of the market revenue in 2018, mainly because of the presence of a higher number of remote working teams that require customized video conferencing solutions.
- As far as geography is concerned, the APAC region is expected to show the highest growth during the forecast years. The increasing focus on SMEs and startups in this region by the government bodies is a major reason for this.
- Some of the players operating in the video conferencing market are Adobe, Blue Jeans Network, Inc., Cisco Systems, Inc., Clickmeeting, Dialpad,Inc. , ezTalks , Facebook , Google Inc., Huawei Technologies Co., Ltd. , IBM Corporation, Intermedia.net, Inc., Livestorm SAS, LogMeIn, Inc. , Microsoft, Mitel Networks Corp. , ReadyTalk, Slack Technologies, Inc., StarLeaf, TeamViewer Group, Tencent Meeting and Zoom Video Communications, Inc., amongst others.
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Video Conferencing Market:
- By Offering
- On Premise
- By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- By End-User
- Retail/Consumer Product
- Media and Entertainment
- Banking, Financial Services and Insurance (BFSI)
- Information Technology and Telecommunication
- By Platform
- By Pricing Model
- By Geography
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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