Video Conferencing Market 2019-2025
発行: Orion Market Research Pvt Ltd
Market Size, Share & Trends Analysis Report, by Component (Hardware and Software & Services), by Deployment (On-Premise and Cloud-Based), by End-User (Corporate, Healthcare, Education, Government and Other) and Forecast, 2019-2025.
The rising globalization has led to business organizations developing flexible, scalable, and cost-effective communication solutions. Video conferencing refers to the technique to communicate using telecommunication technologies for real-time transmission. Video conferencing solutions offer real-time communication over a long distance, reducing travel time and cost. The increased penetration of cloud-based video conferencing systems has led to the increasing demand for video conferencing. Moreover, the emergence of 3D technology in video conferencing solutions has accelerated the video conferencing market growth. The rising adoption of video conferencing solutions by small and medium scale enterprises to enhance business collaboration has fostered the demand for video conferencing solutions.
Cloud-based video conferencing solutions offer higher accessibility to end-users, as the data generated is managed at the service provider's site. Thus, reducing the space requirement and the cost of maintenance and labor. Furthermore, the increasing trend of smartphones coupled with bringing your own device (BYOD) has led to the accentuated market growth of the video conferencing solutions. The video conferencing solutions finds its applications in various industrial verticals which includes telemedicine, education, and IT sector has fueled the growth of the video conferencing market. Rapidly increasing demand for video conferencing solution in the education field in emerging economies such as India and China has further accelerated the market growth of the video conferencing solutions. However, higher initial cost coupled with privacy and security concerns may hamper the market growth.
The video conferencing market is segmented based on component, deployment and end-user. Based on the component, the market is segmented into hardware and software and services. Hardware includes cameras, audio devices and other devices used in video conferencing. Based on deployment, the market is segmented into cloud-based and on-premise deployment. Increasing demand for cloud-based video conferencing solutions due to flexibility and cost-effectiveness along with the technological advancement in the IT sector has enhanced cloud-based video conferencing market. The rising adoption of BYOD policies by many companies and enterprise mobility has also accelerated market growth. Based on end-user, the market is segmented into corporate, healthcare, education, government and other. Geographically, the market is further segmented on the basis of major regions, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America region is expected to register significant growth over the forecast period due to the presence of major players in the region. Additionally, well-established businesses and the adoption of video conferencing solutions have led to the growth of video conferencing market in the region.
Some of the major players in the field of video conferencing solutions market include: Cisco Systems, Inc., Microsoft Corp., Citrix Systems, Inc., Logitech International S.A., LogMeIn, Inc., West Corp., Huawei Technologies, Co., Ltd., along with many others. These companies are adopting several strategies, such as merger and acquisitions, product launches, geographical expansion and collaboration, and partnership to expand market share across the globe. For instance, in December 2018, Cisco acquired Luxtera, a chip company focused on optic networks. The acquisition will extend the company portfolio in IoT, cloud and mobility markets.
The market study of the video conferencing market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for IT companies, government, and private companies for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.