Dallas, Texas, May 27, 2021 (GLOBE NEWSWIRE) -- The “Global Video Conferencing Endpoint Market Size by Solution Type [Standard Centric (Multi Codec Appliance, Single Codec Appliance, and Executive Appliance), Service Attached [Single Codec Appliance, Reference Design Kits and Do It Yourself (DIY)], By Application (Education, Consulting, Government, Manufacturing, Financial Services, Healthcare, Energy/Utilities, and Others), By Region and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global video conferencing endpoint market size is expected to reach USD 3.39 billion by 2025. Technological advancements, increasing broadband speed, growing adoption of cloud-based services and standardization are some of the key factors driving market growth.
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According to the Federal Communication Commission, the global average broadband speed was 7.40 Mbps between May 2016 and May 2017 and increased to 9.10 Mbps between May 2017 and May 2018. Moreover, video conferencing is witnessing a strong demand in the healthcare, education, sports and media & entertainment sectors.
Standard centric and service attached single codec appliance together dominated the market by contributing 56.2% of the global video conferencing endpoint market revenues in 2017. Single codec, also known as point-to-point, is majorly used for conferencing as it comes at a lower cost as compared to multi codec systems. The adoption of cloud services in video conferencing has paved a way for reference design kits and do-it-yourself (DIY) solutions. The revenues are majorly generated from service-based models such as subscription for yearly or monthly and pay-as-you-go basis.
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The government sector dominated the global video conferencing endpoint market by contributing to 26.5% of the overall market value in 2017, as numerous government agencies, international organizations, and military & defense make use of video conferencing systems to communicate and discuss most of the issues. Moreover, even courtrooms are using video conferencing in many countries across the world during trials and judgments. This way the government aims to save cost on security and speed up legal processes and also solve more number of cases.
North America dominated the global video conferencing endpoint industry in 2017 and is expected to maintain its position during the projected period. Asia Pacific is anticipated to grow at the fastest CAGR of 6.6% over the forecast period, as a result of growing demand for video conferencing hardware devices in China, India and Southeast Asian countries. India is shifting from traditional ways of communication to wireless and modern communication technology markets. The investment made by the government to improve infrastructure and develop smart cities is expected to drive the demand for video conferencing endpoint market.
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The global video conferencing endpoint market is concentrated with the presence of major players across the globe. Global companies are acquiring locally established players in order to establish their presence in different geographies. For instance, in January 2016, Cisco acquired Acano Limited, a company based in London, UK. Acano was the provider of cloud-based and on-premises collaboration software and video infrastructure. Cisco has been the major player in the endpoint market leading the way with other major players including Polycom, Inc., Avaya, Huawei Technologies Co., Ltd., ZTE Corporation, Starleaf, Yealink Inc., Lifesize, Inc., Vidyo, Inc., Tely Labs, Inc., and Kedacom.
Major Points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Video Conferencing Endpoint Market Overview, By Solution Type
Chapter 5. Video Conferencing Endpoint Market Overview, By Application
Chapter 6. Video Conferencing Endpoint Market Overview, By Region
Chapter 7. Company Profiles
Chapter 8. Sales Channel, Distributors, Traders and Dealers
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