Global $5,663.3 Million Video Conferencing Market to 2028: Focus on Corporate Enterprises, Healthcare, Government & Defense, Education, Media & Entertainment
DUBLIN, Oct. 20, 2020 /PRNewswire/ -- The "Video Conferencing Market By Product, End User, Deployment - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022" report has been added to ResearchAndMarkets.com's offering.
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The video conferencing market worldwide accounted for revenue of US$ 5,663.3Mn in 2019. The market is projected to expand with a CAGR of 12.7% during the forecast period from 2020 to 2028.
Due to expanding globalization among the business organizations worldwide and the resulting lockdown restrictions and work from the home model due to the ongoing COVID-19 pandemic, the need for effective collaboration techniques for real-time video communication has spurred substantially.
In addition to this, organizations look for cost effective solutions that can fulfil their need seamlessly. Apart from the corporate enterprises from different industry verticals, segments such as healthcare and education are increasingly shifting towards video conferencing in order to ensure effective delivery of services for participants at their home. Thus, healthcare and education segments are expected to emerge as the most promising segments for video conferencing market in the following years.
Additionally, with growing shift towards cloud-based solutions, the market for cloud-based video conferencing solutions is estimated to expand substantially in the following years. Although issues including limited channel capacity, frequency spectrum shortage, and complexity related with the deployment resulting in increased up-front cost have somewhat marred the market growth, the advancements in wireless technology are expected to tame the impact of these challenges over the forecast period.
The revenue estimates for Government & Defense segment have been evaluated considering different types of government viz. Federal, State, and Local. The market, on the basis of the deployment model, has been evaluated considering the basic components i.e. hardware, software, and services.
The global video conferencing market was dominated by the corporate enterprise's segment in 2019, with market share, in terms of revenue, of over 40% of the overall market. The corporate enterprise segment comprises business organizations across different industry verticals such as IT and telecommunication, banks, financial services, and insurance (BFSI), business process outsourcing (BPO) organizations, and others.
With the growing globalization of business enterprises, the need for effective video collaboration is predicted to remain strong thereby leading to the dominance of the segment throughout the forecast. Nevertheless, due to the increasing penetration of IT-based services in the healthcare industry, the healthcare segment is projected to register the highest growth in the coming years globally. The segment is estimated to expand with a CAGR of 15.2% from 2020 to 2028.
Apart from healthcare, education is another lucrative segment expected to register high growth in the global video conferencing market in the coming years. Further, segments such as government & defense and media & entertainment are expected to witness steady growth during the forecast period. This is attributed to the fair penetration of video conferencing solutions across the segments. The demand for video conferencing solutions in the government & defense segment is mainly backed by the federal governments and judiciaries in major countries worldwide.
Key Topics Covered:
1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
2. Executive Summary
2.1. Video Conferencing Market Industry Snapshot
3. Global Video Conferencing Market Analysis
3.1. Video Conferencing Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Restraints
3.3.3. Opportunity Matrix
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Market Positioning of Key Video Conferencing Vendors
4. Global Video Conferencing Market, By Deployment Model, 2018 - 2028 (US$ Mn)
4.1. Comparative Analysis
4.2. On-premise
4.3. Cloud-based
4.4. Managed
5. Global Video Conferencing Market, By End-user, 2018 - 2028 (US$ Mn)
5.1. Comparative Analysis
5.2. Corporate Enterprises
5.3. Healthcare
5.4. Government & Defense
5.5. Education
5.6. Media & Entertainment
5.7. Others (Retail, Manufacturing and Residential)
6. North America Video Conferencing Market, 2018 - 2028 (US$ Mn)
6.1. Overview
6.2. North America Video Conferencing Market, By Deployment Model, 2018 - 2028 (US$ Mn)
6.2.1. Comparative Analysis
6.2.2. On-premise
6.2.3. Cloud-based
6.2.4. Managed
6.3. North America Video Conferencing Market, By End-user, 2018 - 2028 (US$ Mn)
6.3.1. Comparative Analysis
6.3.2. Corporate Enterprises
6.3.3. Healthcare
6.3.4. Government & Defense
6.3.5. Education
6.3.6. Media & Entertainment
6.3.7. Others (Retail, Manufacturing and Residential)
6.4. North America Video Conferencing Market, By Country 2018 - 2028 (US$ Mn)
6.4.1. U.S.
6.4.2. Canada
7. Europe Video Conferencing Market, 2018 - 2028 (US$ Mn)
8. Asia Pacific Video Conferencing Market, 2018 - 2028 (US$ Mn)
9. Rest of the World Video Conferencing Market, 2018 - 2028 (US$ Mn)
10. Company Profiles
10.1. Cisco Systems, Inc.
10.2. Polycom, Inc.
10.3. Avaya, Inc.
10.4. ZTE Corporation
10.5. Zoom Video Communications, Inc.
10.6. Microsoft Corporation
10.7. Lifesize (Division of Logitech International S.A.)
10.8. Vidyo, Inc.
10.9. InterCall (West Corporation)
10.10. Adobe Systems, Inc.
10.11. BlueJeans
10.12. Google, LLC
For more information about this report visit https://www.researchandmarkets.com/r/t0wa0j
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