Cloud Video Conferencing Global Market 2024 - Latest Research, Industry Insights, Emerging Opportunities And Future Outlook By 2033

The new report published by The Business Research Company, titled ""Cloud Video Conferencing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the cloud video conferencing market size has grown rapidly in recent years. It will grow from $9.13 billion in 2023 to $10.40 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The cloud video conferencing market size is expected to see rapid growth in the next few years. It will grow to $17.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.

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Rise In Need For Virtual Workforce Management Drives The Cloud Video Conferencing Market
The rising need for management of a virtual workforce is expected to propel the growth of the cloud video conferencing market going forward. A virtual workforce refers to a work environment where employees perform their duties remotely, using technology such as laptops, smartphones, and video conferencing tools. The rising need for management of virtual workforces is fueled by globalization, technological advancements, changing workforce expectations, cost savings, demographic shifts, and scalability demands. Cloud-based video conferencing solutions efficiently manage and support a virtual workforce by offering accessibility, scalability, cost-effectiveness, flexibility, integration, security, reliability, and support for remote work policies. For instance, in September 2022, according to a news article published by the Census Bureau, a US-based government statistical agency, in 2021, the number of people primarily working from home tripled from 5.7% to approximately 27.6 million people, comprising 17.9% of the workforce. Therefore, the rising need for management of a virtual workforce is driving the growth of the cloud video conferencing market.

AI Video Conferencing Solutions Enhance User Experience And Productivity In The Cloud Video Conference Market
Major companies operating in the cloud video conference market are developing artificial intelligence (AI) video conferencing solutions to enhance the user experience and improve video productivity. AI video conferencing solutions aim to streamline the meeting process, improve communication quality, and provide valuable insights, thereby enhancing the overall effectiveness of virtual collaboration. For instance, in January 2024, Thundercomm, a US-based technology company, introduced an unparalleled set of AI video conferencing solutions. This comprehensive set of solutions is designed to enhance the experience and efficiency of business communication and collaboration. The solutions leverage powerful video collaboration platforms from Qualcomm Technologies and Rubik's large language model services. This allows the optimized model to be deployed locally on video collaboration devices with super-low latency and enhanced security.

The cloud video conferencing market covered in this report is segmented -

1) By Type: Hardware, Software
2) By Deployment Model: Cloud, On-Premise
3) By End User: Banking, Financial Services And Insurance (BFSI), Manufacturing, Information And Communications Technology (ICT), Healthcare, Others End-Users

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Major companies operating in the cloud video conferencing market are Microsoft Corporation, Huawei Technologies Co. Ltd., NTT Ltd., Tencent Holdings Ltd., Cisco Systems Inc., NEC Corp., ZTE Corp., Zoom Video Communications Inc., Avaya Inc., Poly, Yealink Inc., Kedacom, Sangoma Technologies Corp., Lifesize Inc., Webex Communications Inc., BlueJeans Networks Inc., Pexip AS, Owl Labs Inc., ClearOne Inc., Qumu Corporation, Starleaf Ltd., Vidyo Inc., Fuze, TKO Video Communications, Tely Labs

Contents of the report:
1. Executive Summary
2. Cloud Video Conferencing Market Report Structure
3. Cloud Video Conferencing Market Trends And Strategies
4. Cloud Video Conferencing Market - Macro Economic Scenario
5. Cloud Video Conferencing Market Size And Growth
…..
27. Cloud Video Conferencing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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