The Video Conferencing Market has one clear leader Cisco Systems Inc., which is further expanding its outreach by means of product innovation. The spectrum of video conferencing products offered by the company has enhanced its brand image globally. Acquisitions of smaller companies is another notable growth strategy adopted by the company.
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The increasing trend of virtual meetings for real-time communication with distantly located teams is the primary factor driving the global video conferencing market. With rapid globalization, video conferencing is a major communication tool used by enterprises that benefits in the form of enhanced productivity and faster decision making.
Acting as a barrier to the growth of the video conferencing market are high initial investments and high installation costs of video conferencing equipment.
As per a report by Transparency Market Research, the global market for video conferencing is likely to expand at a CAGR of 8.3% between 2017 and 2025, for the market to become worth US$8,958.7 mn by the end of 2025. The market was evaluated to be worth US$4,405.6 mn in 2016.
Healthcare and Education to Emerge as Significant End-use Segments
The segments of the global video conferencing market based upon deployment type are on-premise, managed, and cloud-based. Of them, on-premise presently holds dominance in the video conferencing market vis-à-vis revenue. However, the segment of cloud-based video conferencing is expected to surpass on-premise segment in terms of growth rate over the forecast period.
The major segments into which the global market for video conferencing is divided depending upon end user are corporate enterprise, healthcare, government and defense, education, and others. Amongst all, corporate enterprise accounts for the leading revenue share of the video conferencing market. However, the segments of healthcare and education are expected to contribute significant revenue to the overall video conferencing market in the forthcoming years. Rising investments for technology-driven healthcare services to render quality patient care at low cost is the key factor fuelling growth of healthcare segment of video conferencing market. The rising need to lower educational costs and efforts to expand the reach of educational services are mainly driving the education segment of video conferencing market.
North America to Continue to Remain Dominant
The global video conferencing market, by geography, has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. In 2016, North America powered by the U.S., dominated the market holding the leading revenue share. The region is expected to display significant growth rate over the forecast period. The leading revenue share of the region is owing to the widespread adoption of telepresence to enhance workforce collaboration and also due to the popularity of managed video conferencing solutions among small and medium sized companies.
However, Asia Pacific video conferencing market is predicted to display the leading CAGR over the forecast period. The increasing concentration of corporate enterprises in the region that are resorting to video conferencing solutions in an attempt to curtail travel costs is the primary factor driving the Asia Pacific video conferencing market. Moreover, government initiatives for superior telecommunication services is also having a positive impact on the video conferencing market in the region.
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Europe is expected to be the second-leading regional market for video conferencing in terms of revenue in the upcoming years. The Middle East and Africa is expected to emerge as a strong market for video conferencing over the forecast period.
Huawei Technologies Co. Ltd., West Unified Communications Services, ZTE Corporation, Polycom Inc., Vidyo Inc., Adobe Systems Incorporated, Microsoft Corporation, Arkadin International SAS, Logitech International SA, Orange Business Services, and JOYCE CR. S.R.O. are some other key companies that operate in the global video conferencing market.
The report also includes competition landscape which include competition matrix, market share analysis of major players in the video conferencing market based on their 2016 revenues and profiles of major players. Competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to company’s capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company’s potential to grow. This section also identifies and includes various recent developments carried out by the leading players of video conferencing market.
Global Video Conferencing Market: Market Segmentation
The video conferencing market has been segmented on the basis of deployment type, end-user type and by region. Based on deployment type, the market has been further classified into on-premise, managed, cloud-based. By end-user type, the video conferencing market is classified into corporate enterprise, healthcare, government and defense, education and others. Geographically, the report classifies the global video conferencing market into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue generation. Furthermore, region wise prominent countries covered in the report include the following - U.S, Canada, U.K., Germany, France, Czech Republic, Slovak Republic, Japan, China, India, South Korea, GCC countries, South Africa and Brazil.
The report also includes key industrial developments in video conferencing market. Porter Five Force analysis which identifies bargaining power of supplier, bargaining power of buyer, threat from new entrant, threat from substitute and threat from competition in video conferencing market is also included in the report. Ecosystem analysis which identifies key stake holders in the video conferencing market is also covered in the report.
Segment trends and regional trends have also been added in video conferencing market. The report also covers segment wise comparison matrix, market attractiveness analysis and market positioning of key players for all regions covered in the scope of study.
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Global Video Conferencing Market: Competitive Landscape
Company profiling includes company overview, major business strategies adopted, SWOT analysis and market revenues for year 2014 to 2016. The global players profiled in the global video conferencing market include Cisco Systems, Inc., Huawei Technologies Co., Ltd., West Unified Communications Services, ZTE Corporation, Polycom, Inc., Vidyo, Inc., Adobe Systems Incorporated., Microsoft Corporation, Arkadin International SAS, Logitech International S.A., Orange Business Services, JOYCE CR, S.R.O. have also been added in the report.
The global video conferencing market is segmented as below:
Global Video Conferencing Market, By Deployment Type
On-premise
Managed
Cloud-based
Global Video Conferencing Market, By End-Use Industry
Corporate Enterprise
Healthcare
Government and Defense
Education
Others
Global Video Conferencing Market, By Geography
North America
The U.S.
Canada
Rest of North America
Europe
Germany
France
UK
Czech Republic
Slovak Republic
Rest of Europe
Asia Pacific (APAC)
China
Japan
India
South Korea
Rest of APAC
Middle East and Africa (MEA)
GCC
South Africa
Rest of MEA
South America
Brazil
Rest of South America
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