Dallas, Texas, United states, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Global Video conferencing Market Research Report by Component (Hardware, Solution, Services), by Deployment (On-premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium Enterprises), by Application (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19
Global Video Conferencing Market is projected to grow from USD 9200 million in 2020 to USD 22500 million by 2027, at a CAGR of 19.7%.
The globalization of businesses, geographically dispersed operations, and the increased acceptance of remote working methods are expected to fuel market expansion. The fast adoption of video conferencing solutions in the telemedicine and education sectors is expected to contribute significantly to the market's growth.
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Key Players
The key players profiled in Video conferencing market analysis include Avaya, Inc., Cisco Systems, Inc., Huawei Technologies Co., Ltd., Logitech International S.A., Microsoft Corporation, Polycom Inc., Zoom Video Communications, Inc.
Market Segmentation Analysis
Based on the Component, the market is segmented into Hardware, Solution, and Services. Hardware segment has largest market share during the forecast period.
Based on the Deployment, the market is segmented into On-premise, Cloud. On premise segment has largest market share during the forecast period.
Based on the Enterprise Size, the market is segmented into Large Enterprises, Small and Medium Enterprises. Large enterprises segment has largest market share during the forecast period
Based on the Application, the market is segmented into Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others. Healthcare segment has largest market share during the forecast period
COVID-19 Impact on the Video conferencing Market
The COVID-19 epidemic has had an impact on all aspects of society, including individuals and corporations. During the COVID-19 epidemic, the telecom sector is playing a critical role in supporting governments' digital infrastructure all around the world. Every individual and government, including federal, state, central, local, and provincial governments, has been in continual contact with one another in society to supply and receive real-time information on COVID-19.
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Regional Analysis
Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. North America is expected to have the largest revenue share. The regional market for video conferencing solutions is well-developed. Upgrades to existing equipment and cloud-based service subscriptions, on the other hand, present a potential growth opportunity in the region. Increased need for continuous access to high-quality internet and visual media is projected to boost regional growth. meetings.
Market Segmentation
By Component
- Hardware
- Camera
- Microphone/Headphone
- Others
- Solution
- Services
By Deployment
- On-premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By Application
- Corporate
- Education
- Healthcare
- Government & Defense
- BFSI
- Media & Entertainment
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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