- With expanding businesses, the physical presence at various centers has become a daunting task for the business owners. This challenge is exceptionally tackled by the solutions from video conferencing market
- The report by Transparency Market Research states that the global video conferencing market is projected to witness a staggering 8.4% CAGR from 2020 to 2027
ALBANY, New York, March 23, 2020 /PRNewswire/ -- Driven by several parameters the global video conferencing market is expected to witness a substantial growth during the tenure of 2020 to 2027, says a recent study by Transparency Market Research. According to the study, the market is projected to grow rapidly with CAGR of 8.4% during the tenure. As per the report, the growth of the market is also attributed to growing demand for touch screen devices such as monitors, smartphones and other video enabled devices that can help the user to have video conference calls smoothly. Owing to these developments, the global video conferencing market is projected to reach to the value of ~US$ 11.56 Bn by the end of 2027.
Major Finding in Global Video Conferencing Market Study
The global video conferencing market shall rise to the projected value from US$ 6.1 Bn that was valued from 2019.
Cloud-based video conferencing segment expected to dominate the software category in the global video conferencing market during the tenure of 2020 to 2027.
Corporate segment under end-user category shall gold the largest share in the global video conferencing market during the tenure of 2020 to 2027.
Explore the latest study on global video conferencing marketunder the title: Video Conferencing Market [Component - Hardware (Camera, Codec, Microphone/Speaker and Others), Software (On-premise and Cloud-based) and Services (Managed/Outsourced and Others); Industry - Corporate Enterprise, Healthcare, Government, Education and Others] -Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027 at https://www.transparencymarketresearch.com/video-conferencing-market.html
Major Drivers of Global Video Conferencing Market
Demand to Manage the Outsourcing Businesses to Boost the Growth
Managing outsourced businesses in the global context is a major factor which is expected fuel the growth of the video conferencing market across the globe. Due to increasing globalization, companies from various verticals seek to operate from multiple offices in different regions of the world to leverage benefits of local infrastructure, availability of expertise and reduction in material procurement costs. In order to ensure smooth functioning of numerous offices across the world, organizations need to constantly maintain communication between headquarters and other offices located remotely. Furthermore, business outsourcing has experienced a high growth in the past decades. At present, many business owners are willing to adopt video conferencing solutions in order to enhance their business productivity as well as to foster real-time, face to face interaction anytime anywhere around the g lobe. Owing to these factors the global video conferencing market shall witness a substantial growth during the tenure of 2020 to 2027.
Moreover, the rising need to reduce the operational costs and time associated with travelling to such locations has led to the rise in demand for video conferencing solutions. This as a result shall also propel the growth of global video conferencing market during the tenure of 2020 to 2027.
Global Video Conferencing Market: Regional Analysis
Asia Pacific is projected to dominate the global video conferencing market during the tenure of 2020 to 2027. This dominance of the market is the result of landing various MNC in countries like India, China, and Japan. These companies have their headquarters in different countries and with the help of solutions from global video conferencing market, the management can keep the business in line with the parent company. This is the major factor that is propelling the growth of Asia Pacific in global video conferencing market during the tenure of 2020 to 2027.
Analyze embedded system market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
The global video conferencing market is highly competitive and moderately fragmented. This nature of the market is the result of the presence of a handful of prominent players that are dominating the dynamics of the market. However, due to this scenario, the new players might find it difficult to enter the global video conferencing market.
Therefore, these players are indulging in strategies such as mergers and collaborations to acquire adequate resources that can help them gain sustainability in the global video conferencing market.
The global video conferencing market is segmented on the basis of:
Video Conferencing Market, by Component
Video Conferencing Market, by Industry
Video Conferencing Market, by Region
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the Global IT & Telecom Industry:
Smart Airport Market– The smart airport market has risen in prominence with new innovative technologies that have helped personalize customer experiences. Rising IT spending on airports is anticipated to propel the market's expansion as these solutions ease the burden on airport infrastructure and workforce. Emerging countries are showing dramatic traffic growth, diversity, and choice of airlines.
Data Center Networking Market – The data center networking market is expected to register a CAGR of 15.4% between 2019 and 2027. The market is projected to be driven by increase in Adoption of data center virtualization and cloud computing.
Artificial Intelligence Market – The rising demand for artificial intelligence technologies can be attributed to the stellar pace of digital transformation. A range of devices and equipment function on the principle of artificial intelligence, and this is an important consideration from the perspective of market growth. Furthermore, the growing value of the artificial intelligence market is a positive sign for the digital economy.
Patent Analytics Services Market – The four-fold global increase in patent filings is one of the key drivers contributing to the growth of the patent analytics services market. Apart from large enterprises, patent analytics services are acquiring prominence in universities and SMEs. Moreover, China is emerging as one of the largest patent filing destinations as well as the largest source of patent family filings in ML. As such, Asia Pacific patent analytics services market is projected for exponential growth.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr Rohit Bhisey Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States USA - Canada Toll Free: 866-552-3453 Email: email@example.com