Video Conferencing Market 2021 - Latest Trends, Future Development Outlook and Demand Analysis to 2027

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Video Conferencing Market - Trends, Development
Factors and Segment Analysis to 2027
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• The video conferencing market is expected to
  record substantial growth by 2027 due to rising
  prevalence of the work-from-home and online
  learning trends across the globe.
• Video conferencing has become an indispensable
  part of communication since the COVID-19 outbreak
  as offices, schools, universities, and various
  other services relied on it to operate remotely
  during the pandemic. In an effort to contain and
  prevent the spread of the novel coronavirus,
  governments around the world imposed stringent
  lockdown restrictions and advised social
  distancing, thereby forcing people to carry out
  their social and work-related engagements online.
• Video conferencing has also enabled remote
  treatment delivery for patients who are unable to
  visit medical centers for treatment. Moreover,
  video conferencing has facilitated consultation
  services amidst growing mental health challenges,
  which have been amplified due to the pandemic.
  Rapid technological advancements and innovations
  in cloud computing, virtual reality (VR), and AI
  to improve video conferencing services have also
  fueled product uptake in recent years.
• Moreover, industry players are employing
  lucrative strategies to capitalize on emerging
  market trends, which has augmented the overall
  business outlook. For instance, in June 2021,
  Zoom Video Communications, Inc., the video
  conferencing giant, announced the acquisition of
  Kites GmbH, a real-time machine translation (MT)
  solutions provider.

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• The deal was intended to enhance Zoom's machine
  translation feature to facilitate the inclusion
  of multi-language translation capabilities for
  Zoom users. With the acquisition, Zoom aimed to
  connect people irrespective of languages and
  geographical locations as well as to promote
  efficiency and productivity of meetings.
• The video conferencing market has been
  categorized on the basis of application,
  component, type, and region. In terms of
  component, the market has further been divided
  into service (managed and professional), hardware
  (peripheral devices, multipoint control unit
  (MCU), and codecs), and software (cloud and
  on-premise). Under hardware, the multipoint
  control unit (MCU) segment is projected to amass
  notable gains over the study timeline owing to
  mounting demand for multi-point functionality.
• With respect to type, the market has been
  bifurcated into telepresence, room-based, and
  desktop. The video conferencing industry form the
  telepresence segment is anticipated to witness
  robust growth through the forecast period. Rising
  demand for high-quality virtual meetings is
  likely to boost segmental expansion over the
  following years.
• On the basis of application, the market has been
  segmented into government, corporate enterprise,
  healthcare, and education. The education segment
  is speculated to showcase optimistic growth over
  the review timeframe on account of the COVID-19
  pandemic-induced demand for online classes
  worldwide.

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• Regional Analysis

• From the regional point of view, the Latin
  America video conferencing market is foreseen to
  gain significant traction by 2027 attributable to
  increasing penetration of smartphones
  affordable internet connection across LATAM.

• Competitive Analysis

• Key players operating in the industry include
  Google Inc., Adobe Systems Inc., Avaya Inc.,
  BlueJeans Network, Cisco Systems Inc., LogMeIn
  Inc., Citrix Systems, Inc., Fuze Inc., Highfive,
  Microsoft Corporation, Premiere Global Services
  Inc., Huawei Technologies Co., Ltd., KOLLECTIVE,
  Lifesize Inc., MediaPlatform, Pexip, Polycom
  Inc., ReadyTalk, uStudio Inc., Zoom Video
  Communication Inc., Vbrick, and Vidyo Inc.

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