Global Video Conferencing Market Outlook for 2023-28

Markntel Advisors has conducted a comprehensive study on the Global Video Conferencing Market is projected to grow at a CAGR of around 9.5% during the forecast period, i.e., 2023-28. The market is primarily driven by the budding integration of advanced technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and cloud technology. Some of the key factors contributing to the growth of the market are rapid globalization and the growing need for workforce management from a remote location. Besides, augmenting demand for video communication, virtual workforce management, and cloud-based collaboration platform, among others. In fact, numerous corporations tend to look for collaboration solutions in a bid to downsize the high costs associated with traveling while speeding up decision-making.

In addition, the Global Video Conferencing Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth. 

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Key Driver: Expanding Cloud-based Enterprises Worldwide

Businesses worldwide are investing heavily in cloud services as they aid companies in receiving information through face-to-face and direct communication with several companies, distributors, suppliers, divisions, and customers. As such, spending on cloud conferencing, cloud infrastructure, and business intelligence software have skyrocketed in the past few years. Other factors propelling the sales of cloud-based video services are the ramping up presence of market players, reduced expenses paired with lesser travel time, and the mounting need for virtual meeting spaces. Moreover, since cloud computing aids in faster disaster recovery, companies are heavily leaning towards the adoption of these services in order to ensure data backup. These aspects are likely to drive industry growth during the forecast period.

Global Video Conferencing Industry Breakdown: Key Revenue Generating Segments

To facilitate focused analysis, the Video Conferencing Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter's five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:

-By Component

-Hardware

-Camera

-Microphone/Headphone

-Others

-Software

-Services

-Professional services

-Managed services

-By Deployment

-On Premise

-Cloud

-By Application

-Consumer

-Enterprise

-Corporate Communications

-Learning & Development

-Client Management

-Others (Marketing, Admin, etc.)

-By End-Users

-IT/ITeS

-Banking Finance Services & Insurance (BFSI)

-Education

-Healthcare

-Government & Defence

-Media & Entertainment

-Education Institutes

-Others

-By Region

-North America

-Latin America

-Europe

-The Middle East & Africa

-Asia-Pacific

Each sections offer valuable insights into the Video Conferencing Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.

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Competitive Analysis of the Global Video Conferencing Industry

-Adobe Inc.

-AURA Presence, LLC.

-Avaya Inc.         

-AWS

-Cisco Systems, Inc.

-Google

-HP

-Huawei Technologies Co., Ltd.

-Logitech International S.A

-LumenVox LLC

-Microsoft Corporation

-Plantronics, Inc.

-Vidyo, Inc

-West Corporation (Intrado Corporation)

-Zoom Video Communications, Inc

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Global Video Conferencing Market Research Report Answers the Following Key Questions

• How big is the Global Video Conferencing Market?
• What is the projected growth rate or CAGR of the Global Video Conferencing Market during 2023-28?
• What are the key trends or growth opportunities for the key players in the Global Video Conferencing Market?
• Which ‘segment’ seems promising for companies operating in the Global Video Conferencing Market?

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