7-Jan-2019: The global video
conferencing market size is expected to reach USD 6.7
billion by 2025, expanding at a CAGR of 9.2% from 2018 to 2025, according to a
new report conducted by Grand View Research, Inc. Growing deployment and use of
video conferencing solutions in startups, educational institutes,corporates,
and healthcare verticals in developing countries, especially in Asia Pacific,
is expected to drive the market.
Recently, a
majority of countries in Asia Pacific witnessed the development of robust
digital communication infrastructure that created the need for video
conferencing solutions. Proliferation of video communication-enabled mobile
devices and increasing number of video conferencing-as-a-service (VCaaS)
providers are also anticipated to contribute to the market growth.
Video conferencing
is an effective interaction and communication tool that enables small and large
scale enterprises to reduce travel and operational costs incurred in conducting
meetings. Demand for remote workforce management using video conferencing
solutions has increased owing to rapid globalization. Deployment of such
solutions has enabled businesses to effectively communicate with multiple teams
or clients in different locations.
Increased adoption
of cloud-based video conferencing solutions, owing to benefits such as low
operating cost and improved data security, is expected to act as a key driving
factor in the global market. Rapid growth in telemedicine, development of
startup ecosystem, and increased penetration of online education in developed
as well as emerging economies, such as U.S., U.K., Japan, China, and India, are
anticipated to play a pivotal role in driving demand for these solutions over
the forecast period. Integration of innovative technologies such as virtual reality
(VR) is also expected to drive the adoption of these solutions.
In
depth research report on Video Conferencing Market
Further key findings from the study suggest:
·
The software segment is expected to emerge as the fastest
growing segment over the forecast period owing to rapid technological
advancements that are propelling organizations to continuously update their
systems with the latest available technology
·
The cloud segment is expected to expand at the highest CAGR
of 10.8% over the forecast period owing to increasing demand for flexibility
and remote access
·
Asia Pacific is anticipated to be the fastest growing regional
market owing to strong presence of business process outsourcing (BPO) and
knowledge process outsourcing (KPO) companies. In addition, major global
manufacturing and information technology (IT) companies have established their
R&D and production centers in the region
·
Key industry players operating in the market include Array
Telepresence Inc.; Adobe Systems Incorporated; Avaya Inc.; Huawei Technologies
Co., Ltd.; Logitech International S.A.; Microsoft Corporation; Cisco Systems,
Inc.; Polycom Inc.; Vidyo Inc.; and West Corporation.
Grand View Research
has segmented the global video conferencing market on the basis of component,
deployment, end use, and region:
Video Conferencing Component Outlook (Revenue, USD Million,
2014 - 2025)
·
Hardware
·
Camera
·
Microphone & Headphone
·
Others
·
Software
·
Service
·
Professional
·
Managed
Video Conferencing Deployment Outlook (Revenue, USD Million,
2014 - 2025)
·
On-premise
·
Cloud
Video Conferencing End Use Outlook (Revenue, USD Million,
2014 - 2025)
·
Corporate
·
Education
·
Healthcare
·
Government & Defense
·
BFSI
·
Media & Entertainment
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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