Video Conferencing Market to Expect Gains at 10% to 2024

SELBYVILLE, Del. (PRWEB) December 05, 2018

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The hardware segment in video conferencing market is expected to account for over 50%. The hardware segment comprises multipoint control units, codecs, and peripheral devices. The growth of the market can be attributed to the high implementation of multipoint control units among businesses and the need for highly interoperable solutions. The software segment is expected to grow at a CAGR of over 14% over the forecast timeline. This can be credited to the increasing demand for cloud-based solutions & mobile applications.

Telepresence accounts for over 40% of the video conferencing market. Its ability to support various business environments has led the enterprises to embrace telepresence solutions. The desktop market is estimated to grow at a CAGR of over 14% over the projected time period. The advent of various reliable, efficient, and affordable devices has led businesses across various business verticals to adopt video conferencing solutions.

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Corporate enterprises held over 65% market share of the video conferencing market in 2017. The increasing adoption of advanced collaborative solutions and the need for inexpensive video communication mechanisms are also fostering the market growth. Furthermore, trends such as BYOD aimed at enhancing employee convenience are also driving the growth of the corporate enterprise market. The education market is expected to register a CAGR of approximately 14% over the projected timeline. The extensive adoption of online education platforms is nurturing the growth of the education market.

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North American region holds a prominent share in the video conferencing market with over 35% share in 2017. The market is driven by the presence of major local players such as Cisco and Polycom and the availability of advanced telecommunication infrastructure. The high level of adoption of trends such as BYODs across businesses of all sizes is further driving the market growth.

The Asia Pacific video conferencing market is anticipated to register a CAGR of over 14% over the forecast timeframe. Favourable regulatory policies and government initiatives are fostering market growth. In addition, the consumer use of cloud-based solutions is also nurturing the market growth.

The vendors operating in the video conferencing market are Cisco Systems, Polycom, Arkadin, Microsoft, Vidyo, ZTE Corporation, Huawei Technologies, Logitech, Adobe Systems, and West Unified Communications Services. The market is vastly fragmented, and the companies present in the market are embracing strategic collaborative initiatives to increase their market share. Large players in the market are working toward expanding their product lines and strengthening their product capabilities to solidify their position in the market.

Browse key industry insights spread across 250 pages with 382 market data tables & 31 figures & charts from the report, “Video Conferencing Market Size By Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices], Software [On-premise, Cloud], Service [Professional, Managed]), By Type (Room-Based, Telepresence, Desktop), By Application (Corporate Enterprise, Education, Government, Healthcare), Regional Outlook (U.S., Canada, UK, Germany, France, Netherlands, Italy, Spain, China, India, Japan, South Korea, Australia & New Zealand, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/video-conferencing-market

Table of Contents (ToC) of the report:

Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/video-conferencing-market

Chapter 6. Video Conferencing Market, By Type
6.1. Key trends, by type
6.2. Room-based
6.2.1. Market estimates and forecast, 2013 – 2024
6.3. Telepresence
6.3.1. Market estimates and forecast, 2013 – 2024
6.4. Desktop
6.4.1. Market estimates and forecast, 2013 – 2024
Chapter 7. Video Conferencing Market, By Application
7.1. Key trends, by application
7.2. Corporate enterprises
7.2.1. Market estimates and forecast, 2013 – 2024
7.3. Education
7.3.1. Market estimates and forecast, 2013 – 2024
7.4. Government
7.4.1. Market estimates and forecast, 2013 – 2024
7.5. Healthcare
7.5.1. Market estimates and forecast, 2013 – 2024
7.6. Others
7.6.1. Market estimates and forecast, 2013 – 2024