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Video Conferencing Market 2020 Global Industry Analysis, Growth Forecast & Emerging Trends To 2026

Author : Ronak Bora | Published Date : 2020-09-15 

The video conferencing market is anticipated to witness exponential growth on account of rising technology significance across healthcare and educational institutes. Healthcare organizations are using video conferencing solutions to remotely conduct specialist consultation and post-discharge programs.

With the advent of innovative technological solutions like virtual reality and artificial intelligence in the education sector, educational institutes are working on integrating video conferencing technology to enhance student engagement and learning while improving their academic performance & communication.

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The hardware segment in video conferencing market will witness a rapid growth. The adoption of codecs has enabled enterprises to facilitate encoding and decoding of massive amounts of audio & visual information. Businesses have shifted from traditional H.261 standard to advanced video conferencing codecs such as H.264, RTV, and VP8/9. The adoption of H.265 video compression codec has provided 50% storage reduction with greater precision and less residual errors. The advent of 5G and updated video codecs has allowed businesses to access immersive video in the current landscape. Vendors are offering high-quality codecs that users can access virtually from any device.

The room-based system is anticipated to gain significant video conferencing market share over the forecast period. Traditional video meeting rooms are rapidly being replaced by huddle and smaller spaces. Huddle rooms are small conference areas & workplaces that can accommodate up to six participants. The adoption of video conferencing in huddle rooms is led by the ongoing workplace transformation and high use of software-based communications. These small rooms are equipped with high-quality video, audio, and display technologies, providing a productive environment for workers.

The global video conferencing market is set to register a tremendous rise in its growth graph as increasing social distancing measures and the work from home trend becomes a norm amidst and after the ongoing pandemic situation.

While there are many factors why videoconferencing is increasingly becoming more popular, it is still considered to be in its infancy. However, as more and more enterprises are coming up to speed with the system's tremendous benefits.

Europe video conferencing market is expected to witness a lucrative growth due to developed internet infrastructure coupled with increased adoption of advanced technologies, such as AI, 3D, and VR, by European business corporations. The region has a faster broadband connection where Sweden, Denmark, and Luxembourg are the leaders with an average speed of above 40.1Mbps. The European Commission initiative of the Europe 2020 strategy for smart, sustainable, and inclusive growth focuses on providing fast and ultra-fast broadband infrastructure. In addition, increasing number of COVID-19 cases is one of the significant factors boosting the video conferencing adoption.

From a geographical perspective, the Latin America video conferencing market is expected to register an impressive CAGR of more than 20% over the forecast timeframe due to widespread adoption of advanced technology along with increasing internet penetration.

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Industry players operating in the video conferencing market are focusing on various business growth strategies including investments in advanced video conferencing solutions, strengthening partner network, and geographical expansion. Through these strategies, market players are trying to increase their market share and maintain their position in the highly competitive market. For instance, in April 2020, RingCentral, Inc., the U.S.-based cloud communications and collaboration solutions provider launched RingCentral Video, a video conferencing software with messaging and voice features. The software offers browser-based experience eliminating the need to download an application for conducting meetings. The solution is integrated with applications such as Google G-Suite, Microsoft Teams, Slack, and others.

Table of Contents (ToC) of the report:

Chapter 6.   Video Conferencing Market, By Type

6.1.  Key trends, by type

6.2.  Room-based

6.2.1. Market estimates and forecast, 2016 – 2026

6.3.  Telepresence

6.3.1. Market estimates and forecast, 2016 – 2026

6.4.  Desktop

6.4.1. Market estimates and forecast, 2016 – 2026

Chapter 7.   Video Conferencing Market, By Application

7.1.  Key trends, by application

7.2.  Corporate enterprises

7.2.1. Market estimates and forecast, 2016 - 2026

7.3.  Education

7.3.1. Market estimates and forecast, 2016 – 2026

7.4.  Government

7.4.1. Market estimates and forecast, 2016 - 2026

7.5.  Healthcare

7.5.1. Market estimates and forecast, 2016 – 2026

7.6.  Others

7.6.1. Market estimates and forecast, 2016 – 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/video-conferencing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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