Video Conferencing Market Is Booming Worldwide | I Avaya, BlueJeans Network, Cisco, Google, Huawei Technologies, Lifesize, LogMeIn, Microsoft, Pexip, Polycom, Vidyo

Owing to the increasing need for long-distance visual communication, the video conferencing market trend has been depicting an upward trajectory in the past few years. Rapidly changing business dynamics and expanding horizons of enterprises across different geographies, the need to reduce the cost of communication, expenditure on network management, and infrastructure procurement has taken precedence. Apparently, the video conference systems are effective in lowering expenses associated with business communication modalities and are effective in managing synchronous and asynchronous communication functions. These characteristics of video conference systems have invariably favored the profitability quotient of the global video conferencing market.

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Company profiled in video conferencing market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o Avaya Inc.
o BlueJeans Network
o Cisco
o Google
o Huawei Technologies Co. Ltd.
o Lifesize
o LogMeIn
o Microsoft
o Pexip
o Polycom
o Vidyo

Video conferencing gives students the opportunity to access different resources, communities, and subject experts from around the world without leaving the school premises. The gradual emergence of online education and video tutoring platforms has been altering the contours of traditional educational institutes and has driven the demand for video conferencing solutions in the last few years. Education sector in video conferencing market has been projected to register a remarkable annual growth rate of 14 percent over 2018-2024.

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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Effectively, with an aim to bring a suitable tele-behavioral health service, the project will entail improving the performance of students in school, help them with social or emotional problems and record enhanced trials. The interminable possibilities of two-way video communication are visibly highlighted by these examples. Swift adoption of the technology across the globe will accelerate the video conferencing market expansion in the coming years, the size of which is projected to cross USD 20 billion by 2024.

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