Video Conferencing Market: Current Business Trends & Growth Opportunities 2019-2024 | Cisco Systems, Polycom, Arkadin, Microsoft, Vidyo, ZTE Corporation, Huawei Technologies, Logitech, Adobe Systems

Corporate enterprises held over 65% market share of the video conferencing market in 2017. The increasing adoption of advanced collaborative solutions and the need for inexpensive video communication mechanisms are also fostering the market growth. Furthermore, trends such as BYOD aimed at enhancing employee convenience are also driving the growth of the corporate enterprise market. The education market is expected to register a CAGR of approximately 14% over the projected timeline. The extensive adoption of online education platforms is nurturing the growth of the education market.

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The hardware market is expected to account for over 50% of the video conferencing market. The hardware segment comprises multipoint control units, codecs, and peripheral devices. The growth of the market can be attributed to the high implementation of multipoint control units among businesses and the need for highly interoperable solutions. The software segment is expected to grow at a CAGR of over 14% over the forecast timeline. This can be credited to the increasing demand for cloud-based solutions & mobile applications. The services market is also projected to grow with a CAGR of over 10% over the projected timeframe. The increasing demand among organizations to outsource their communication infrastructure to focus on their core competency is also driving the growth of the video conferencing market.

Expounding the focus of governments on the video conferencing market, the U.S. Department of Agriculture will be providing up to USD 39.6 million to support the Distance Learning and Telemedicine (DLT) Grant Program. Slated to benefit over 4.5 million people in 40 states, the program will involve developing rural health care and education networks, including purchase and installation of video conferencing equipment. Citing another example to describe the significance of remote consultation to medical services, Frazer Health in British Columbia has started using video conferencing to connect cardiac patients at Abbotsford Regional Hospital and Surrey Memorial Hospital to electrophysiologists working at Royal Columbian Hospital.

Speaking further, the move has helped eliminate the need for transporting a patient to another hospital for only receiving diagnosis, besides enabling faster access to treatments for irregular heartbeats or probable life threatening heart conditions. Royal Columbian is also using the technology to connect mental health patients with community teams before discharging them. Bringing healthcare and education together, the North America video conferencing market has found a novel application area in student counseling. In early November this year, Athol Hospital in Massachusetts, was granted USD 1.05 million to provide teleconferencing to students of the Ralph C. Mahar and Athol high schools via two-way video conferencing.

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The vendors operating in the video conferencing market are: Cisco Systems, Polycom, Arkadin, Microsoft, Vidyo, ZTE Corporation, Huawei Technologies, Logitech, Adobe Systems, and West Unified Communications Services. The market is vastly fragmented and the companies present in the market are embracing strategic collaborative initiatives to increase their market share. Large players in the market are working toward expanding their product lines and strengthening their product capabilities to solidify their position in the video conferencing market.

Glimpse of Table of Content (ToC)

Chapter 3. Video Conferencing Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Video conferencing market, 2013 – 2024
3.4. Video conferencing ecosystem analysis
3.5. Video conferencing architecture analysis
3.5.1. Mixing based
3.5.2. Multiplexing based
3.5.3. Scalable video coding based
3.6. Video conferencing evolution
3.7. Business model
3.7.1. Infrastructure as a software
3.7.2. Infrastructure as a cloud service
3.7.3. Business model adjustment
3.8. Technological & innovation landscape
3.8.1. SoftCodec
3.8.2. Virtual reality
3.8.3. WebRTC
3.8.4. Artificial intelligence
3.8.5. Advanced video compression formats
3.9. Standards & protocols
3.9.1. Transport protocols
3.9.2. Network infrastrcture and devices
3.9.3. Integrated Digital Services Network (ISDN)
3.9.4. LAN, WAN, VPN and Intranet
3.9.5. Video standards
3.9.6. Audio standards
3.9.7. Data and control standards
3.9.8. NAT/Firewall Traversal
3.9.9. Connectivity
3.10. Video conferencing market impact forces
3.10.1. Growth drivers
3.10.1.1. Growing demand for unified communication
3.10.1.2. Technological advancement
3.10.1.3. Globalization
3.10.1.4. Increasing trend for cloud application
3.10.1.5. Rising need to reduce communication cost among organizations
3.10.2. Industry pitfalls & challenges
3.10.2.1. Cost & complexity of solutions
3.10.2.2. Volatile competitive landscape
3.11. Growth potential analysis
3.12. Porter’s analysis
3.12.1. Threat of new entrants
3.12.2. Threat of substitutes
3.12.3. Bargaining power of buyer
3.12.4. Bargaining power of supplier
3.12.5. Industry rivalry
3.13. PESTEL analysis

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