Press release
North America Video Conferencing Market Trends, Size, Segment and Growth by Forecast to 2030
North America Video Conferencing Market
📚Full Report Link - https://www.businessmarketinsights.com/reports/north-america-video-conferencing-market
According to a new market research study on "North America Video Conferencing Market Forecast to 2027- Covid-19 Impact and Analysis by type, deployment, industry, and country" is expected to reach US$ 3,180.3 Mn by 2027 from US$ 2,029.8 Mn in 2019. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027.The report provides trends prevailing in the North America Video Conferencing Market along with the drivers and restraints pertaining to the market growth. The growth of the North America Video Conferencing Market is attributed to rising adoption of video conferencing solutions among corporate sector. However, weak network infrastructure in various developing countries remain a key challenge for video conferencing market.
The video conferencing market, by type, is segmented into hardware, software, services. The hardware segment held the largest share of the North America market in 2019. The hardware providers play a critical role in supporting the video conferencing market growth, by innovating and delivering robust technology products to the clients. The software developers, on the other hand, are continuously focusing on upgrading the existing software with newer features, which is attracting a significant percentage of end users. The service providers are observing extraordinary demand for their services, the end users of video conferencing solutions are demanding for continuous consultation services, educational service, and maintenance services.
Several key players operating in the video conferencing market include Adobe Systems Inc., Zoom, Avaya Inc., Cisco Systems Inc., Google LLC, Huawei Technologies, Ltd., Lifesize Inc., Microsoft Corporation, Polycom Inc., and ZTE CorporationThe corporate enterprise segment is a vast sector in North America, with a large number of technology developing companies, support service companies, and BPOs/KPOs operating in the region. With an objective to improve the working environment and optimize productivity, the IT players are heavily investing in virtual meeting rooms using audiovisual technologies. Also, with the developments in the cloud technology, the video conferencing market players in this region are experiencing significant demand for their products that are enabled with this technology. The healthcare sector is advancing rapidly in the region owing to the fact that the healthcare institutions experience a significant number of patients from disparate locations. Moreover, the patients, as well as the doctors, are substantially urging to use online consultation. In an attempt to treat the patients located remotely, the hospitals and healthcare facilities are setting up virtual consultation rooms with audiovisual systems. Also, several webinars and seminars are also conducted by healthcare institutions through video conferencing tools. Thus, the modernization of healthcare practices is also contributing to the growth of the market in this region.
North America Video Conferencing Strategic Insights
Strategic insights for the North America Video Conferencing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
• Adobe Inc.
• Amazon
• Brother International Corporation
• Cisco Systems, Inc.
• Facebook, Inc.
• Google LLC
• Microsoft Corporation
• TeamViewer GmbH
• Zoho Corporation
• Zoom Video Communications, Inc.
North America Video Conferencing Regional Insights
The geographic scope of the North America Video Conferencing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Market Overview and Dynamics
The video conferencing market in North America was valued at US$ 2,029.8 million in 2019 and is projected to reach US$ 3,180.3 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. The educational and healthcare sectors are maturing across developing countries and are continuously experiencing the emergence of advanced technological solutions to increase efficiency. Traditionally, these sectors used room based interaction strategies; however, with the rise in technology, these sectors are investing in virtual solutions for better performance. In recent years, several educational institutions and healthcare organizations are incorporating video conferencing tools to educate students and treat located remotely patients. This is a crucial driving force for the video conferencing market.
Key Market Segments
In terms of type, the hardware segment in the video conferencing market accounted for the largest share in 2019. In terms of deployment, the cloud segment in the video conferencing market accounted for the largest share in 2019. In terms of industry vertical, corporate enterprises segment in the video conferencing market accounted for the largest share in 2019.
Major Sources and Companies Listed
Several major primary and secondary sources referred to for preparing this report on the video conferencing in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adobe Inc., Google LLC, Microsoft Corporation, and Zoom Video Communications, Inc., among others.
Reasons to buy report
• It provides understanding of the North America Video Conferencing market landscape and identifies market segments that are most likely to guarantee a strong return.
• It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the North America Video Conferencing.
• It helps efficiently plan merger and acquisition, and partnership deals in the North America Video Conferencing market by identifying market segments with the most promising probable sales.
• It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the North America Video Conferencing market.
• It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.
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About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
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Senior Market Research Expert at Business Market Insights
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