Dublin, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The "Web and Video Conferencing SaaS - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Web and Video Conferencing SaaS Market to Reach US$7 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Web and Video Conferencing SaaS estimated at US$3.5 Billion in the year 2020, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 11.9% over the analysis period.
Corporate, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Education segment is readjusted to a revised 10.3% CAGR for the next 7-year period. T
his segment currently accounts for a 9.7% share of the global Web and Video Conferencing SaaS market. The corporate enterprise sector remains the primary revenue generator for the web & video conferencing market due to increasing number of international companies and globalization of supply chains, which require long-distance visual communication for enhanced productivity.
The demand and requirement for video conferencing is expanding continuously due to geographically dispersed businesses and remote workforce management. The emergence of new technologies such as IoT, cloud computing, VR, improved video compression, and AI are likely to drive the video conferencing market.
The conference experience and video quality for employees and enterprises is improving due to the use of AI-enabled technologies. Video conferencing solutions are witnessing an increased demand and popularity from certain areas that include online education and telemedicine; primarily in developing countries that include India, Brazil, Philippines, and China.
Video conferencing solutions are witnessing a further increase in demand owing to an increasing count of online seminars, conferences, and international workshops. The COVID-19 pandemic is rapidly fueling the market for video conferencing; wherein both government agencies and businesses are focusing on video conferencing to connect remotely with workforce, employees, and consumers for avoiding direct contact.
The U.S. Market is Estimated at $1.4 Billion in 2021, While Asia-Pacific is Forecast to Reach $2.4 Billion by 2026
The Web and Video Conferencing SaaS market in the U.S. is estimated at US$1.4 Billion in the year 2021. The country currently accounts for a 33.49% share in the global market. Asia-Pacific is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 12.9% through the analysis period.
Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 10.3% and 10.5 respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period.
Growth in the North America region is fueled by implementation of web & video conferencing solutions to replace or upgrade traditional systems and adoption of new technologies such as AI and IoT. Countries in the region are investing heavily in AI and 5G for reinforcing network connectivity systems, creating a dynamic environment for innovations that is likely to drive the web & video conferencing market.
With several major companies from developed markets such as the US and Europe having their offshore production, development, and processing facilities in low-cost Asian destinations such as China, India, Korea, Vietnam among other countries, the demand for web & video conferencing systems in the region continues to rise.
Healthcare Segment to Reach $373.2 Million by 2026
Video conferencing is finding increasing acceptance among medical professionals to treat patients while practicing social distancing during COVID-19. The technology is likely to also gain considerably from growing focus on telemedicine.
Video conferencing is anticipated to be widely used by healthcare professionals to offer consultations and conducting uninterrupted sessions over video to support patents in remote areas. In the global Healthcare segment, USA, Canada and Europe will drive the 9.1% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$136.9 Million in the year 2020 will reach a projected size of US$259.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$114.7 Million by the year 2026.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Pandemic Positively Impacts Video Conferencing Market
- While Zoom Rode COVID-19 Strom in Spectacular Manner, the Mania Appears to Recede with Stiff Competition & Vaccination Programs
- Is Zoom Inching towards Market Saturation?
- Video Conferencing Players Heat up Competition with Innovative Features
- Video Conferencing to Remain a Necessity & Undergo Makeover in Post-Pandemic World
- Risk of Next Waves of COVID-19 Infections Looms Large Leading to Further Adoption of Web & Video Conferencing
- Web & Video Conferencing SaaS: Industry Overview
- Global Market Prospects & Outlook
- Web & Video Conferencing SaaS Appears Poised to Remain Popular Trend in 2021
- Key Factors Restraining the Market
- Developed Regions Enjoy Dominant Market Position
- Developing Countries: Uncovering True Potential
- Market Dynamics: Will the Market Sustain Momentum in the Long Term?
- Hybrid Conferencing: Better Network and Video Quality Peps the Idea
- The Rise of Hybrid Video Conferencing Culture
- Competitive Landscape
- Raft of Lucrative Opportunities for Web & Video Conferencing Providers amidst COVID-19 Pandemic
- Video Conferencing-as-a-Service (VCaaS) Platforms Leading from the Front
- Largest Revenue Generators in Web & Video Conferencing Market Place in US$ Million - Skype, LogMeIn, Zoom, CISCO Webex, TeamViewer, Arkadin, Fuze and BlueJeans
- Acquisition Targets: 'Buy & Build' Strategy Lead Big Companies to Fish for Small Ones
- Zoom Takes Over Five9 to Strength Position in Enterprise Customer Segment of Video Conferencing Market
- Zoom Earns Sterling Reputation amidst COVID-19 Pandemic: Witnesses Unprecedented Surge in Market Value
- Taking Cue from Zoom's Soaring Popularity, Tech and Telecom Giants Ramp up New Video Chat Offerings
- Apple Announces Acquisition of VR Startup Spaces
- Dialpad Takes Over Highfive to Reinforce Position in Video Conferencing Market
- Alianza Acquires CounterPath to Deliver Comprehensive Cloud Communication Portfolio
- Video Conferencing Players Embark on Ambitious Moves to Tap Opportunities
- App Talk: Free-of-Cost Web & Video Conferencing Services Flood the Market
- Global Competitor Market Shares
- Globally Dominant Players Market Share Scenario for Web and Video Conferencing SaaS Market (2020E) - Zoom, GoToWebinar, Cisco Webex, ON24, Adobe Connect, Livestorm and Others
- Live Entertainment Players Resort to Virtual Platforms to Save Business
- TV Companies Withhold Rights Payments to Major Sports Events due to Cancellation of Competitions
- Eventbrite Engineers Self-Service Platform Experience to Reinvigorate Business Activity Post COVID-19 Impact
- Investors Eye Online Event Management and Booking Platforms to Tap Opportunity
- Brief Profiles of 24 Key Event Management Companies Worldwide - Cvent, Dmg Events, Eventbrite, Live Nation Entertainment, LogRhythm, Streamlinevents...
- Provisions for Years 2010 to 2020E
- The Outbreak Leads to Spike in Web & Video Conferencing Trend: Noteworthy Industry Activities
- Other Industry Activities in the Web & Video Conferencing Space
- Web & Video Conferencing - A Conceptual Overview and Classification
- Web Vs. Video Conferencing: Similarities and Differences
- Overview of Infrastructure Systems and Equipment Used
2. FOCUS ON SELECT PLAYERS(Total 331 Featured)
- Zoom Video Communications, Inc.
- Blue Jeans Network, Inc.
- Cisco Systems, Inc.
- GoToMeeting
- Skype
- Microsoft Teams
- Fuze Inc.
- Adobe Inc.
- Amazon Web Services, Inc.
- Avaya Inc.
- Blackboard Inc.
- ConnectWise, LLC.
- FreeConferenceCall.com
- Google LLC
- Highfive
- Intermedia.net, Inc.
- Join.me
- Lifesize
- LogMeIn
- Onstream Live
- Premiere Global Services, Inc.
- TeamViewer
- UberConference
- Whereby
- Zoho Meeting
3. MARKET TRENDS & DRIVERS
- Web & Video Conferencing Industry: Key Trends in Nutshell
- High Demand & User Expectations Make Things Interesting at Video Conferencing Level
- Web & Video Conferencing: Integral Part of Enterprise Communication Mix
- Prominent Factors Influencing Market Expansion
- Web Conferencing Emerges as an Apt Alternative to Business Travel
- Rise of Mobile Workforce & Deskless Workers Triggers New Wave of Growth
- SMB Sector Intensifies Adoption Curve
- Video Conferencing Systems: March towards Home Office
- Cloud Services: Double Edged Sword for Web & Videoconferencing Systems Market
- Major End-Use Markets for Web & Video Conferencing SaaS Market: A Review
- Ensuring Business Continuity
- Enhancing Productivity through Team Collaboration & Faster Decision Making
- Hiring through Video Conferencing
- Improving Internet Network Capabilities Aid Wider Adoption of Web & Video Conferencing Systems
- Mobile Video Conferencing Endpoints Set the Stage for Progressive Growth
- Capability Matrix for Video Conferencing Endpoints
- Opportunity Indicators
- 5G to Emerge as Game Changer for Mobile Video Conferencing
- HD Technology Comes to the Fore to Redefine Video Conferencing Landscape
- Security Concerns
- Issues Related to Utilization & Interoperability
- Focus on UC Threatens Standalone Video Conferencing Systems
- Pricing & Return on Investment (ROI)
- Bandwidth Availability
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/rbboe0
