Video Conferencing Market worth $22.5 billion by 2026 - Report by MarketsandMarkets™
August 5, 2022
/EIN News/ -- Chicago, Aug. 05, 2022 (GLOBE NEWSWIRE) -- Video Conferencing Market size is expected to grow from USD 9.2 billion in 2021 to USD 22.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period, according to a new report by MarketsandMarkets™. With COVID-19, the entire workforce has experienced a transition toward remote working, paving a way for video conferencing solution and hardware products. The reduced travel time and cost, the importance of involving employees in determining strategic goals, and the rising need for virtual meeting rooms have overall increased the spending of companies on video conferencing solutions.
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Browse in-depth TOC on "Video Conferencing Market”
204 - Tables
41 - Figures
237 - Pages
Scope of the Report
|Market size available for years||2020-2026|
|Base year considered||2020|
|Forecast units||Value (USD Million)|
|Estimated Year Market Size||USD 9.2 billion in 2021|
|Forecast Year Market Size||USD 22.5 billion by 2026|
|Segments covered||Component, vertical, deployment mode, application, and region.|
|Regions covered||North America, Europe, APAC, Middle East and Latin America|
|Companies covered||Microsoft (US), Zoom (US), Cisco (US), Adobe (US), Huawei (China), Google(US), Avaya (US), AWS (US), Poly (US), LogMeIn (US), Enghouse Systems (Canada), Pexip (Norway), Qumu (US), Sonic Foundry (US), Lifesize (US), Kaltura (US), BlueJeans Network (US), Kollective Technology (US), StarLeaf(UK), HighFive (US), Logitech (Switzerland), Barco (Belgium), Fuze (US), Haivision (Canada) and Premium Global Services (US).|
Cloud mode of deployment segment is expected to grow at the highest CAGR during the forecast period
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Healthcare segment to grow at the highest CAGR during the forecast period
The healthcare and life sciences vertical deals with diverse clinical, administrative, and financial content on a daily basis. This results in the requirement for channelized content insights and accurate clinical information that can be consolidated through video conferencing Solution. The collaborations enable healthcare providers in telemedicine and patient care, medical education, and healthcare administration applications to offer enhanced patient care by providing them with improved communication options. The solution enables face-to-face interactions between patients, healthcare teams, and family members to discuss various treatment options, located anywhere in the world. Video conferencing technology also helps with patient monitoring, consulting, and counselling.
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Asia Pacific (APAC) region to record the highest growing region in the Video Conferencing Market
APAC has several growing economies, such as China, Australia and Japan, which are expected to register high growth in the Video Conferencing Market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of video conferencing solutions across all industry verticals. The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
Key and innovative vendors in Video Conferencing Market are Microsoft (US), Zoom (US), Cisco (US), Adobe (US), Huawei (China), Google (US), Avaya (US), AWS (US), Poly (US), LogMeIn (US), Enghouse Systems (Canada), Pexip (Norway), Qumu (US), Sonic Foundry (US), Lifesize (US), Kaltura (US), BlueJeans Network (US), Kollective Technology (US), StarLeaf (UK), HighFive (US), Logitech (Switzerland), Barco (Belgium), Fuze (US), Haivision (Canada) and Premium Global Services (US).
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