Dublin, March 11, 2022 (GLOBE NEWSWIRE) -- The "Video Conferencing Market by Technology, Component, Deployment Mode, Organization Size, End-User (Education, IT & Comm., Healthcare, BFSI, Oil & Gas, Legal, Media) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The report provides an in-depth analysis of the video conferencing market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2028. The Video Conferencing Market is expected to register a CAGR of 15.5% from 2021 to 2028 and reach USD 24.4 billion by 2028.
The growth of the video conferencing market is primarily driven by factors such as the emerging work from home culture and growing demand for high-speed video communication products. Video conferencing boosts productivity, saves time, reduces travel expenses, and overall promotes collaboration. The advantage of video conferencing is facilitating all of those benefits without requiring constant travel for face-to-face communication. However, less personal contact and understanding, network instability and time lag, technical issues and employee training, and more stress and less organization are some of the factors restraining the growth of this market to a certain extent.
The study offers a comprehensive analysis of the video conferencing market based on technology, component, deployment mode, organization size, end user, and geography.
Based on technology, the USB video conferencing segment is estimated to capture the largest share of the video conferencing market in 2021. USB devices provide highly defined video up to and including in 4K. USB video conferencing provides organizations with the unique ability to cost-effectively meet these new needs and wants of employees. USB cameras play an essential role in providing the high-quality video needed. On the other hand, the VaaS segment is expected to witness the highest CAGR during the forecast period.
Based on deployment mode, the on-premise segment is estimated to account for the largest share of the video conferencing market in 2021, due to the factors such as greater control over the company's private data, which is of high concern for government and financial institutions. With no need to pass anything onto third parties, it provides unencumbered data security. On-premise servers are powerful and allow for more simultaneous users at any one time. For businesses used to giving webinars or events with a potentially limitless number of participants, cloud-based models restrict your audience far more than on-premise conferencing. These benefits are expected to drive the growth of this segment.
Based on organization size, the SMEs segment is estimated to account for the largest market share in 2021. SMEs have widely adopted easy subscription modules and pay-per-use. Small businesses must have a preferred video conferencing tool to communicate with their teams, clients, and vendors. The growing adoption of cloud-based video conferencing apps and remote working due to the pandemic has boosted the demand from SMEs. With a video conferencing tool, small businesses can easily update team members on the status of a task or project and accomplish goals faster due to seamless video communication.
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of technology, component, end user, and geography?
- What was the historical market size for the global video conferencing market?
- What are the market forecasts and estimates for 2021-2028?
- What are the major drivers, restraints, and opportunities in the global video conferencing market?
- Who are the major players in the global video conferencing market?
- How is the competitive landscape?
- What are the recent developments in the global video conferencing market?
- What are the various strategies adopted by the major players in the global video conferencing market?
- What are the geographical trends, and which are the high-growth countries?
- Who are the local emerging players in the global video conferencing market, and how do they compete with the other players?
Scope of the Report:
Video Conferencing Market, by Technology
- VaaS
- USB Video Conferencing
- Room-based Codec Systems
Video Conferencing Market, by Component
- Solutions
- Hardware
- Multi-Codec Endpoints
- Single Codec Endpoints
- Executive Desktop Endpoints
- Software
- Services
Video Conferencing Market, by Deployment Mode
- Cloud Deployment
- On-premise Deployment
Video Conferencing Market, by End User
- Education
- Healthcare
- Government, Defense & Public Sector
- BFSI
- Media & Entertainment
- Legal & Law Profession
- Manufacturing
- Oil, Gas & Energy
- IT & Communication
Companies Mentioned
- Zoom Video Communication Inc.
- Microsoft Corporation
- Cisco Systems Inc.
- Blue Jeans Network Inc.
- LogMeIn Inc.
- Alphabet Inc.
- ON24 Inc.
- Dialpad Inc.
- TeamViewer AG
- Adobe
- Blackboard Inc.
- Vidyo Inc.
- Plantronics Inc.
- Logitech
- Huawei Investment & Holding Co. Ltd.
- ZTE
- Lifesize
- KEDACOM
- Yealink Inc.
- Tely
For more information about this report visit https://www.researchandmarkets.com/r/7xd1s8
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