According to a research report "Video Conferencing Market by Component (Hardware, Solutions, and Services), Application (Corporate Communications, Training and Development, and Marketing and Client Engagement), Deployment Mode, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the global video conferencing market size is projected to register a CAGR of 12.6% during the forecast period, reaching USD 19.1 Billion by 2027 from an estimated USD 10.6 billion in 2022. The rapid globalization in business and the rising demand for a remote workforce are driving the growth for video conference solutions. Telemedicine and online education are in high demand in developing nations like Brazil, and India. The demand for video conferencing solutions is also anticipated to rise as there are more and more international workshops and online seminars.
Browse 211 market data Tables and 39 Figures spread through 236 Pages and in-depth TOC on "Video Conferencing Market by Component (Hardware, Solutions, and Services), Application (Corporate Communications, Training and Development, and Marketing and Client Engagement), Deployment Mode, Vertical and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/video-conferencing-market-99384414.html
By vertical, healthcare and life sciences segment to register the highest CAGR during the forecast period
The video conferencing market has been segmented based on vertical into BFSI, IT and Telecom, Healthcare and Life Sciences, Education, Media & Entertainment and other verticals. The adoption of video conferencing has been prevalent in all kinds of enterprises, from small startups and federal governments or globally established large media conglomerates. The growing demand for video conferencing solutions to improved staff training, medical education and healthcare communication enables to witness the growth opportunities in healthcare and life sciences. The healthcare and life sciences segment is anticipated to register the largest market size during the forecast period.
By applications, corporate communication is projected to register largest market size during the forecast period
The video conferencing market has been segmented based on applications into corporate communication, training and development, and marketing and client engagement. Corporate communications solutions facilitate communication with employees irrespective of their geographic locations. Executives can build a more personal relationship with the workforce with the use of video conferencing tools. Due to the growing need for businesses to facilitate communications with both internal and external workers, the market for corporate communications via video conferencing is developing. During the forecast period this segment is anticipated to register the largest market size.
By verticals, healthcare and lifesciences are anticipated to account for the largest market size during the forecast period
With the term telemedicine become more widely used in the healthcare market, the healthcare and life sciences segment witnessed a rising growth in the usage of video conferencing solutions. During the forecast period the healthcare and life sciences segment is anticipated to account for the largest market size during the forecast period.
North America anticipated to account for largest market size during forecast period
Among the regions, North America is anticipated to account for the largest market size during the forecast period. With a cutting-edge communication infrastructure, video conferencing solution providers can provide their customers with high-quality services. As one of the 5G technologys early adopters, North America is anticipated to accelerate the use of video conferencing services in the region.
Some of the major video conferencing market vendors are Microsoft (US), Zoom Video Communications (US), Cisco (US), Adobe (US), Huawei (China), Avaya, Inc. (US), AWS (US), Google, LLC (US), HP (US), GoTo (US), Enghouse Systems (Canada), Pexip (Norway), Qumu Corporation (US), Sonic Foundry Inc. (US), Lifesize, Inc. (US), Kaltura Inc. (US), BlueJeans Network (US), Kollective Technology, Inc. (US), StarLeaf Inc. (UK), Dialpad (US), Logitech (US), Barco (Belgium), Fuze Inc. (US), Haivision Inc. (Canada), and Premium Global Services Inc. (US).
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441