Launch of Various Video Conferencing-As-A-Service (VCaaS) is Expected to Accelerate the Growth of Global Video Conferencing Market

Global Video Conferencing (VC) is anticipated to grow at an astronomical rate during 2020-25. The growth if the market is anticipated to rise in the adoption of video-conferencing solution in end-user such as corporates, education, healthcare, media & entertainment etc., along with escalating 4G-enabled mobile devices and launch of various video conferencing-as-a-service (VCaaS) by the market players. Moreover, the COVID-19 outbreak has a positive impact on the market growth due to the lockdown imposition which has enable the organizations allow their employees to work from home for smooth business operations. Thus, this has augmented the demand for video conferencing solution amongst the corporate sector. However, the shutdown of schools and collages have also propelled the demand for VC solution in education sector.


North America dominated the Global video conferencing market in 2020. US and Canada acquired the highest market share in the market on account of strong presence of giant solution providers for VC and boost in the number of start-ups in countries. In addition, the rising inclination towards the adoption of video conferencing in corporate, education and the healthcare sector due to increasing penetration of online class and adoption of work from home along with increasing partnership with the international players expand their footing in the region and introduction of innovative technologies, such as cloud computing, IoT, and advanced video compression in VC solution. Thus, this is strongly contributing towards the growth of the market in the coming years.

Get a sample copy of the Video Conferencing Industry Overview at: https://bit.ly/3ngvVes

Corporates segment acquired the highest market share in 2020 followed by education, hospital, and media & entertainment. The COVID-19 pandemic has severely impacted the corporate sector. The temporarily shutdown of the offices and lockdown imposition has accentuated the demand for VC solution as employees were instructed to work from home as a safety measure. Thus, this encouraged various solution provider to launch video conferencing solutions especially for the corporates. However, the disrupting audio meeting and bad video which often lead to canceled meetings and losses or delayed deadlines which can hamper the growth of the market.

 

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.

For more market insight visit: https://www.marknteladvisors.com/research-library/global-video-conferencing-market.html


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