The COVID-19 Pandemic as a Key Factor in the Growth of Global Video Conferencing Market

The Global Video Conferencing market is anticipated to experience robust growth in the forecast period. The adoption of video-conferencing solutions is growing at a significant rate as these solutions reduce the overall operational cost, save time, and enhance productivity. Besides this, rising inclination toward remote workforce management amongst corporates, introduction of video conferencing-as-a-service (VCaaS), and the recent COVID-19 outbreak have had a positive impact on the market growth.

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According to MarkNtel Advisors’ research report titled “Global Video Conferencing Market Analysis, 2020”, the Global Video Conferencing market is anticipated to grow at a CAGR of around 9.50% during 2020-25. The COVID-19 pandemic has bolstered the demand for video conferencing solutions among various end users such as corporates, education, and healthcare on an account of temporary shutdown of offices and schools due to the imposition of lockdown. The adoption of work from home in the corporate sector has further augmented the growth of the market in order to run the business operations smoothly. However, the demand for video conferencing also escalated in school and colleges as well which has provided a lucrative growth opportunity for the market players to launch of various video conferencing solutions which can propel the growth of the market globally.

“Global Video Conferencing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Video Conferencing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

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Based on Component, Hardware segment acquired the majority market share in 2020 owing to the technological advancements in cameras and microphones such as emergence of IoT and introduction of cloud solutions. Besides this, the wide utilization of camera and microphones in online classes along with increasing demand for services such as consulting, training, maintenance is placing a positive impact towards the growth of the market in the forthcoming period.

North America Captured the Highest Market Share
North America captured the highest market share in the Global Video Conferencing market in 2020. US dominated the North America market. The growth is attributed to surging adoption of video- conferencing solutions in small and medium enterprises, strong foothold of giant solution providers for Video Conferencing, and COVID-19 outbreak which has inclined major verticals such as corporate, education, and healthcare toward the adoption of video conferencing to conduct online classes and for smooth adoption of work from home. Thus, these factors are strongly contributing toward the growth of the market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Video Conferencing Market Analysis, 2020”.

According to MarkNtel Advisors, the key players with a considerable market share in the Global Video Conferencing market are Adobe Inc., Array Telepresence Inc., Avaya Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Logitech International SA, Microsoft Corporation, Polycom Inc., Vidyo Inc., West Corporation, etc.

Market Segmentation:
1. By Components (Hardware (Camera, Microphone & Headphone, Others), Software, Services (Professional Services, Managed Services))
2. By Deployment Type (On-Premise, Cloud)
3. By Enterprise Size (Large Enterprise Small and Medium Enterprise)
4. By Type (Telepresence, Integrated, Desktop, Service Based)
5. By Application (Small Room, Huddle Room, Middle Sized Room, Large Rooms)
6. By End- Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others)
7. By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America)
8. By Countries (U.S, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, South Korea, Others)
9. By Company (Adobe Inc., Array Telepresence Inc., Avaya Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Logitech International SA, Microsoft Corporation, Polycom Inc., Vidyo Inc., West Corporation, etc.)

Key questions answered in the study:
1. What are the current and future market trends of the Global Video Conferencing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the region followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Video Conferencing industry?
5. What are the customers orientation, purchase behavior, and expectations from the Global Video Conferencing firms across various regions?

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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