DUBLIN--(BUSINESS WIRE)--The "Global Video Conferencing Market (By Component, Type, End-User, Deployment, Enterprise Size & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global video conferencing market is expected to reach US$9.55 billion in 2024. The market is anticipated to witness growth at a CAGR of 9.93%, during the period spanning 2020-2024.
Factors such as rising trend of connected IoT devices, surging adoption of cloud-based solutions, expanding urbanization and growing penetration of consumer electronics are expected to drive the market. The growth of the market would be challenged by high initial investments in purchase and deployment, low network connectivity and security and privacy concerns. A few notable trends may include accelerating adoption of 4G and 5G technology, increasing integration with Artificial Intelligence and rapid globalization with digital businesses.
The global video conferencing market is segmented on the basis of component, type, end-user, deployment and enterprise size. Based on the component, the market can be classified into hardware, software and services. The market can broadly be segmented into Corporate Enterprise, Healthcare, Government, Education and Other, in terms of end-user. Whereas, on the basis of deployment, the global video conferencing market can broadly be divided into Cloud, On-Premise and Other. And, depending upon the enterprise size, the market can be categorized into Large enterprises and Small & Medium enterprises.
The fastest growing regional market was North America owing to the growing presence of well-established solution providers, financial and retail industry and massive adoption of video conferencing in the region to communicate and managed the outsourced business activities. Whereas, Europe and Asia Pacific also contributed to significant shares in the global market due to the factors such as high demand either for replacement or upgradation of video conferencing systems and presence of a large number of small and medium enterprises (SMEs) and Knowledge Process Outsourcing (KPO) companies in the region.
Scope of the report:
- The report provides a comprehensive analysis of the global video conferencing market segmented on the basis of component, type, end-user, deployment, enterprise size and region.
- The major regional and country markets (North America, Europe, Asia Pacific and Rest of the World) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Verizon Communications Inc. (Blue Jeans Network, Inc.), Microsoft Corporation, Huawei Technologies Co., Ltd., Cisco Systems, Inc., Adobe Inc., and Plantronics Inc.) are also presented in detail.
Key Topics Covered:
1. Market Overview
2. Impact of COVID-19
2.1 Decline in Global GDP
2.2 Decline in International Tourism
2.3 Decline in Industrial Production
2.4 Impact on Video Conferencing
2.5 Growth in Download of Video Conferencing Apps
3. Global Market Analysis
3.1 Global Video Conferencing Market by Value
3.2 Global Video Conferencing Market Forecast by Value
3.3 Global Video Conferencing Market by Volume
3.4 Global Video Conferencing Market by Component
3.5 Global Video Conferencing Market by Type
3.6 Global Video Conferencing Market by End-User
3.7 Global Video Conferencing Market by Deployment
3.8 Global Video Conferencing Market by Enterprise Size
3.9 Global Video Conferencing Market by Region
4. Regional Market Analysis
4.1 North America
4.1.1 North America Video Conferencing Market by Value
4.1.2 North America Video Conferencing Market Forecast by Value
4.2.1 Europe Video Conferencing Market by Value
4.2.2 Europe Video Conferencing Market Forecast by Value
4.3 Asia Pacific
4.3.1 Asia Pacific video conferencing Market by Value
4.3.2 Asia Pacific Video Conferencing Market Forecast by Value
4.4.1 RoW Video Conferencing Market by Value
4.4.2 RoW Video Conferencing Market Forecast by Value
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Rising Trend of Connected IoT Devices
5.1.2 Surging Adoption of Cloud-Based Solutions
5.1.3 Expanding Urbanization
5.1.4 Growing Smartphone & Tablet Users
5.1.5 Mounting Penetration of Internet Users
5.2 Key Trends and Developments
5.2.1 Accelerating Adoption of 4G and 5G Technology
5.2.2 Increasing Integration with Artificial Intelligence
5.2.3 Rapid Globalization with Digital Businesses
5.2.4 Demand for Improved Workforce Productivity among Enterprises
5.3.1 High Initial Investments in the Purchase and Deployment
5.3.2 Low Network Connectivity
5.3.3 Security and Privacy Concerns
6. Competitive Landscape
6.1 Global Market
6.1.1 Revenue Comparison of Key Players
6.1.2 Market Capitalization Comparison of Key Players
6.1.3 R&D Comparison of Key Players
6.1.4 Global Video Conferencing Applications Market Share
6.1.5 Global Video Conferencing Endpoints Market Share by Volume
6.1.6 Global Cloud Video Conferencing Product Sales Volume Share by Company
7. Company Profiles
7.1 Verizon Communications Inc. (Blue Jeans Network, Inc.)
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Microsoft Corporation
7.3 Huawei Technologies Co., Ltd.
7.4 Cisco Systems, Inc.
7.5 Adobe Inc.
7.6 Plantronics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r72g3z