Video Conferencing Market

Video Conferencing Market size reached USD 11,108 million in 2022 and is estimated to reach USD 45,578 million in 2030 and the market is estimated to grow at a CAGR of 19.3% from 2023-2030.

Overview of the Global Video Conferencing Market Report

Video conferencing refers to a live video-based meeting between two or more people from different locations who use video-enabled devices such as smartphones, tablets, and desktop computers. Video conferencing allows multiple users in different locations to meet and collaborate face to face by transmitting audio, video, text and presentations in real time through the internet. It also offer screen sharing, recording, instant messaging, slideshow, and project management tools among other features. The video conferencing market has mainly two components: solutions and services.

To have an edge over the competition by knowing the market dynamics and current trends of “Video Conferencing Market,” request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

The video conferencing market is forecast to witness a healthy growth over the forthcoming years, owing to the growing adoption of the video conferencing across the educational, healthcare and telemedicine industries for online consultation, academic conferences, and webinars for online education. Increasing integration of advanced technologies such as Machine Learning, Artificial Intelligence, and the internet of things in video conferencing solutions to provide a better meeting experience to end-users by the deployment facial recognition and virtual assistant technologies will further augment the Video Conferencing Market growth. For example, in 2020, NVIDIA Corporation launched the NVIDIA Maxine platform, which provides a cloud-based range of GPU-driven AI video conferencing software to improve the quality of streaming video. In addition, the trend of remote working, globalization of companies with remotely scattered business operations will bolster the market growth. Moreover, as per the Video Conferencing Market analysis, the rising drift towards video banking solutions owing to the increasing pervasiveness of mobile banking among consumers has bolstered the market growth. For example, In 2021, One Touch Video Banking collaborated with NuSource Financial to allow credit unions and banks strengthen their relationships through the next video banking technology. However, growing concerns pertaining data safety and privacy might impede the Video Conferencing Market Share.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Component – Segment Analysis

Based on component, the solution segment is expected to dominate the video conferencing market owing to the rising demand of video collaboration solutions including Zoom, Skype, Microsoft Teams, Google Hangouts, Cisco WebEx. Additionally, video conferencing solutions offer high productivity, saves time, minimizes the travel expenses, and promotes collaboration, which is likely to contribute to the growth of the market over the forecast period.

Conference Type – Segment Analysis

On the basis of conference type, the desktop system based video conferencing segment is anticipated to witness a faster CAGR in the market owing to its various benefits such as higher flexibility, reliability, and higher cost-effectiveness. Additional benefits offered by desktop systems such as touch-screen controls, multi-site and multi-conference options, and other collaboration tools is further contributing to the adoption of desktop system video conferencing.

Deployment – Segment Analysis

On the basis of deployment, the cloud segment is projected to grow at a substantial CAGR during the forecast period primarily due to the rising adoption of private cloud computing technology and cloud-based video conferencing solutions by businesses, government enterprises, and educational institutes.

Enterprises Size – Segment Analysis

On the basis of enterprises size, small and medium enterprises segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the increasing number of small and medium-sized enterprises (SMEs) in the developed and developing countries including India, China, Sri Lanka, South Korea, and Saudi Arabia, among others.

Application – Segment Analysis

Based on application, the huddle rooms segment is expected to dominate the market during the forecast period. This is primarily due to the increasing adoption of huddle rooms in office spaces for quick impromptu meetings, unplanned working sessions, and scheduled meetings. Moreover, huddle rooms are generally equipped with video conferencing equipment, whiteboards and other A/V equipment, which will further escalate the market growth.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis

Based on the Region, Asia-Pacific region is anticipated to dominate the video conferencing market during the forecast period. This is primarily due to the rising number of small and medium sized start up enterprises in the region. Increasing penetration of high speed internet connectivity and growth in the number of organizations in various sectors including IT, telecommunication, entertainment, educational, and healthcare in China, Japan, India, and South Korea is further contributing to the growth of the market. On the other hand, North America is projected to grow at a faster CAGR during the forecast period owing to the rapid economic development and growing trend of remote working coupled with the rising adoption of video conferencing solutions among corporate sector by large enterprises in the region. 

Top Market Players

Various video conferencing market leaders are Zoom Video Communications, Inc., AVer Information Inc., Cisco Systems Inc., Alphabet Inc., Microsoft Corporation, Verizon Communications Inc., Adobe, Inc., Logitech International S.A., Panasonic Corporation, and ZTE Corporation, among others.

Key Developments:

• • In 2022 – Cisco Systems, Inc. and Ford electric vehicle screens entered into a strategic partnership to affiliate with Webex. The partnership intends to transform electric vehicles into next-gen office spaces.
  • In 2021, Microsoft collaborated with SAP’s intelligent suite of Solution, to establish new integrations between Microsoft Teams and SAP Solution, such as SAP S/4HANA, SAP SuccessFactors, and SAP Customer Experience
  • In 2020, Zoom Video Communications, Inc., launched a new category of software experiences and hardware devices, Zoom for Home, to support remote work use cases. Zoom for Home devices can be set up to be IT-managed remotely through the Admin Portal or self-managed by the end-user.
  • IN 2020, AVer Information Inc., a provider of video conferencing solutions, collaborated with Microsoft Corporation for the launch of video conferencing solution that work seamlessly with Microsoft Teams. These AVer products feature HD cameras, professional-grade speakers, and far-field microphones that can easily be connected to Windows 10 PC via a single USB cable.

Segments Covered in the Report:

The global Video Conferencing market has been segmented on the basis of component, conference type, deployment, enterprise size, application, and regions. Based on component, the market is segmented into solution and services. Based on conference type, the market is segmented into telepresence system, integrated system, desktop system, and service-based video conferencing. Based on deployment, the market is segmented into cloud and on-premises. Based on enterprise size, the market is segmented into SMEs and large enterprises. Based on application, the market is segmented into small rooms, huddle rooms, middle rooms, and large rooms. 

For detailed scope of the “Video Conferencing Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Video Conferencing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Video Conferencing market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Video Conferencing market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various applications of global Video Conferencing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Video Conferencing Market by Component

• • Solution
  • Services

Global Video Conferencing Market by Conference Type

• • Telepresence System
  • Integrated System
  • Desktop System
  • Service-Based Video Conferencing

Global Video Conferencing Market by Deployment

• • Cloud
  • On-Premises

Global Video Conferencing Market by Enterprise Size

• • SMEs
  • Large Enterprises

 Global Video Conferencing Market by Application

• • Small Rooms
  • Huddle Rooms
  • Middle Rooms
  • Large Rooms

Global Video Conferencing Market by Region

• • North America Video Conferencing Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Conference Type
    • By Deployment
    • By Enterprise Size
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Video Conferencing Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Conference Type
    • By Deployment
    • By Enterprise Size
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Video Conferencing Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Conference Type
    • By Deployment
    • By Enterprise Size
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Video Conferencing Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Conference Type
    • By Deployment
    • By Enterprise Size
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Video Conferencing (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Zoom Video Communications, Inc.
  • AVer Information Inc.
  • Cisco Systems Inc.
  • Alphabet Inc.
  • Microsoft Corporation
  • Verizon Communications Inc.
  • Adobe, Inc.
  • Logitech International S.A.
  • Panasonic Corporation
  • ZTE Corporation