Video Conferencing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025
Global Video Conferencing Market: Snapshot
Video conferencing technology enables one to hold meetings with others situated at different locations. It allows them to both see and talk to one another. It differs from a simple video calling by bringing about interaction with different people.
With unprecedented advancements in technology, it has become possible to carry out video conferencing form anywhere at present. One can do it on ones smartphone or mobile device or also on computer equipped with basic hardware.
The development of Voice over IP, which taps into the underlying IP framework of the Internet, has revolutionized the market dramatically. However, a video conferencing requires much higher bandwidth than a simple video call.
Currently, the most popular video conferencing tool is Skype. However, its dominance is being challenged by the fast emerging newer tools such as Google Hangouts, Team Viewer, Join.me, and a host of others. Continued innovation in the domain to create even better products is set to have a major positive impact on the market. The innovation, in turn, is being stoked by the swift pace of globalization.
Video conferencing is seeing swift uptake because of its numerous advantages. Foremost among them is its ability to save travelling costs since it eliminates the need for face-to-face meetings. It can also help in binding workers scattered in different places. It can enable employees to work from home by humanizing conversations.
An application area in which it is having far-reaching impact is in online teaching. In the domain of healthcare too, it is having a great usefulness. It can enable to better outcomes by through video conferencing services and cloud-based video conferencing solutions. It is already having a great impact on observing patients remotely and subsequently offering tele-consultation.
Global Video Conferencing Market: Overview
The video conferencing market has one clear pioneer Cisco Systems Inc., which is further growing its effort by methods for item advancement. The range of video conferencing items offered by the organization has improved its image picture all around. Acquisitions of littler organizations is another prominent development procedure embraced by the organization. The expanding pattern of virtual gatherings for constant correspondence with remotely found groups is the essential factor driving the worldwide video conferencing market. With quick globalization, video conferencing is a noteworthy specialized device utilized by endeavors that advantages as upgraded profitability and quicker basic leadership. Going about as an obstruction to the development of the video conferencing market are high beginning ventures and high establishment expenses of video conferencing gear.
Global Video Conferencing Market: Trends and Prospects
The first factor driving the worldwide video conferencing market is the expanding pattern of virtual gatherings with rising globalization crosswise over enterprises. Video conferencing permits constant correspondence over long separations that advantages as upgraded profitability and speedier basic leadership. Moreover, it spares travel costs and addresses client questions. In the corporate area, video conferencing is a noteworthy specialized instrument utilized by endeavors for upgraded coordinated effort. It is on the grounds that it permits two-way sound and video correspondence at insignificant cost, particularly in show times when associations are centered on shortening costs identified with their methods for correspondence. This has expanded across the board open doors for the video conferencing market.
Little and medium endeavors (SMEs) are likewise progressively receiving video conferencing answers for correspondence with customers at inaccessible areas. SMEs for the most part depend on oversaw video conferencing answers for which just peripherals, for example, cameras, speakers, and receivers are should be given by supporter of the administration. Video conferencing foundation including multipoint control units (MCUs), video conferencing frameworks, and other propelled applications and highlights are given and oversaw by the video conferencing specialist co-op. The expanding pattern of portable workforce and Bring Your Own Device (BYOD) has emphatically affected cloud-based video conferencing administrations.
On the other side, high starting ventures and high establishment costs are going about as significant difficulties to the development of video conferencing market. Video conferencing frameworks that are intended to give a near genuine ordeal of a man show in another area require top notch video gadgets. These frameworks likewise should be ensured with firewalls and security programming for secure information broadcast that add to the price of the framework.
Global Video Conferencing Market: Market Potential
Cisco. Systems Inc. that leads the worldwide video conferencing market has been contributory in the improvement and advancement of video conferencing innovation. The organization offers a range of more up to date video conferencing items that coordinate voice, video, information, and programming applications. These offerings have upgraded its image picture over the world.
Other than advancement, vital acquisitions is the concentration of the organization to grow its effort. For instance, Cisco Systems Inc. obtained Acano Ltd. in an offer to extend progressively in the video conferencing market.
Global Video Conferencing Market: Regional Outlook
North America held matchless quality as far as income in the video conferencing market in 2016. The far reaching prominence of telepresence and high reception of oversaw video conferencing arrangements are the key variables for the strength of the district. The locale is relied upon to show a huge development rate over the conjecture time frame.
Global Video Conferencing Market: Competitive Landscape
A few of the core players in the worldwide video conferencing market are West Unified Communications Services, Huawei Technologies Co. Ltd., ZTE Corporation, Polycom Inc., Adobe Systems Incorporated, Orange Business Services, Vidyo Inc., Microsoft Corporation, Logitech International S.A., Arkadin International SAS, and JOYCE CR, S.R.O.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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