Video Conferencing Market Analysis by Type (Hardware, Software, Services), By Deployment mode (Cloud-based, On-premise), By Industry (Automotive, Aerospace, Consumer Goods, Electronics, Pharmaceuticals, Others) and by Region: Global Forecast, 2024 - 2034.
- PUBLISHED ON
- 2024-03-24
- NO OF PAGES
- 265
- CATEGORY
- Information Communication & Technology
Market Overview
The Video Conferencing market is predicted
to develop at a compound annual growth rate (CAGR) of 7.3%from 2024 to 2034,
when it is projected to reach USD 54.76 Billion, based on an average growth pattern.
The market is estimated to reach a value of USD 27.07 Billion in 2024.
SOURCE: We Market Research
Real-time,
in-person communication over the internet is made possible by a technology
called video conferencing. To see and hear one other from various locations,
participants employ cameras, microphones, and speakers. Video conferencing
solutions such as Zoom, Microsoft Teams, and Google Meet are widely utilised
for business meetings, distant work, and online education. It facilitates
communication and cooperation without requiring physical presence by supporting
functions including screen sharing, recording, and chat.
The growing trend of remote work is driving the global market for video conferencing since it necessitates more virtual meetings and collaboration solutions. Demand is further increased by globalisation and the requirement for seamless cross-location communication. Improved internet and camera quality are examples of technological innovations that improve user experiences. Another consideration is cost-effectiveness, since video conferencing lowers travel costs. Furthermore, the market is expanding due to the integration of video conferencing with other productivity tools and the increasing usage of mobile devices, which appeals to both individuals and enterprises.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 27.07 Billion |
|
Market Forecast in 2034 |
USD 54.76 Billion |
|
CAGR % 2024-2034 |
7.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Type, By Deployment mode, By Industry and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Video Conferencing Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Video Conferencing Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Video Conferencing Segmentation
Market- By Type Analysis
By Type, the Video Conferencing Market is Categories into Hardware, Software, Services. The Hardware segment accounts for the largest share of around 47% in 2024.
The hardware segment is driven by the
increasing demand for high-quality, reliable video equipment that supports
seamless communication. Advancements in technology, such as 4K cameras and
advanced audio systems, further boost this growth.
The
following segments are part of an in-depth analysis of the global Video
Conferencing market:
|
Market Segments |
|
|
By Deployment
Mode |
·
Cloud-based ·
On-premise |
|
By Industry |
·
Automotive ·
Aerospace ·
Consumer Goods ·
Electronics ·
Pharmaceuticals ·
Others |
Video Conferencing Industry: Regional Analysis
North America Market Forecast
North America dominate the Video Conferencing Market with the highest revenue generating market with share of more than 46%. In North America, the video conferencing market thrives due to high adoption rates across sectors, advanced digital infrastructure, and significant investments from major tech companies. High disposable income and a shift towards cloud-based solutions are further driving growth. The integration of video conferencing with collaboration tools enhances its appeal in both enterprise and educational settings.
Europe Market Statistics
Europe's video
conferencing market benefits from strong digital transformation initiatives and
regulatory support, including GDPR compliance. Key market players drive
innovation, while a focus on data security addresses privacy concerns. The
increasing use of video conferencing for virtual events and meetings reflects
the region's emphasis on advanced communication technologies and digital
collaboration.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Video Conferencing
market during the forecast period. The Asia-Pacific region is rapidly expanding
in the video conferencing market due to factors like urbanization, rising tech
adoption, and increased IT infrastructure investments. Affordable and scalable
video conferencing solutions are particularly popular in emerging markets such
as India and Southeast Asia. The growth is fueled by both enterprise needs and
evolving digital landscapes.
The Video
Conferencing Market is dominated by a few large companies, such as
·
Avaya, LLC
·
Microsoft Corporation
·
Panasonic Corporation
·
Huawei Technologies Co. Ltd.
·
Logitech International S.A.
·
AVer Information, Inc.
·
BlueJeans by Verizon
·
Cisco Systems, Inc
·
Polycom, Inc.
·
Zoom Video Communications, Inc.
· Others
1.
Global
Video Conferencing Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Video Conferencing Market
Scope and Market Estimation
1.2.1.Global Video Conferencing Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2.Global Video Conferencing Market
Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1.Type of Global Video
Conferencing Market
1.3.2.Deployment mode of Global Video
Conferencing Market
1.3.3.Industry of Global Video
Conferencing Market
1.3.4.Region of Global Video
Conferencing Market
2.
Executive Summary
2.1. Market Dynamics
2.1.1.Drivers
2.1.2.Limitations
2.1.3.Opportunities
2.1.4.Impact Analysis of Drivers and
Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1.Bargaining Power of Suppliers
2.4.2.Bargaining Power of Buyers
2.4.3.Threat of Substitutes
2.4.4.Threat of New Entrants
2.4.5.Competitive Rivalry
2.5. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Video Conferencing Market Estimates & Historical Trend Analysis (2019 -
2023)
4.
Global Video Conferencing Market Estimates & Forecast Trend Analysis, by
TYPE
4.1. Global Video Conferencing Market
Revenue (US$ Mn) Estimates and Forecasts, by TYPE, 2019 to 2034
4.1.1.Hardware
4.1.2.Software
4.1.3.Services
5.
Global Video Conferencing Market Estimates & Forecast Trend Analysis, by
Deployment mode
5.1. Global Video Conferencing Market
Revenue (US$ Mn) Estimates and Forecasts, by Deployment mode, 2019 to 2034
5.1.1.Cloud-based
5.1.2.On-premise
6.
Global Video Conferencing Market Estimates & Forecast Trend Analysis, by
Industry
6.1. Global Video Conferencing Market
Revenue (US$ Mn) Estimates and Forecasts, by Industry,
2019 to 2034
6.1.1.Automotive
6.1.2.Aerospace
6.1.3.Consumer Goods
6.1.4.Electronics
6.1.5.Pharmaceuticals
6.1.6.Others
7.
Global Video Conferencing Market Estimates & Forecast Trend Analysis,
by Region
7.1. Global Video Conferencing Market
Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2034
7.1.1.North America
7.1.2.Europe
7.1.3.Asia Pacific
7.1.4.Middle East & Africa
7.1.5.South America
8.
North
America Video Conferencing Market: Estimates & Forecast Trend Analysis
8.1.
North
America Video Conferencing Market Assessments & Key Findings
8.1.1.North America Video Conferencing
Market Introduction
8.1.2.North America Video Conferencing
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
8.1.2.1. By TYPE
8.1.2.2. By Deployment mode
8.1.2.3. By Industry
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Europe
Video Conferencing Market: Estimates & Forecast Trend Analysis
9.1. Europe Video Conferencing Market
Assessments & Key Findings
9.1.1.Europe Video Conferencing Market
Introduction
9.1.2.Europe Video Conferencing Market
Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By TYPE
9.1.2.2. By Deployment mode
9.1.2.3. By Industry
9.1.2.4.
By
Country
9.1.2.4.1. Germany
9.1.2.4.2. U.K.
9.1.2.4.3. France
9.1.2.4.4. Italy
9.1.2.4.5. Spain
9.1.2.4.6. Russia
9.1.2.4.7. Rest of Europe
10. Asia Pacific Video
Conferencing Market: Estimates &
Forecast Trend Analysis
10.1. Asia Pacific Market Assessments
& Key Findings
10.1.1. Asia Pacific Video Conferencing
Market Introduction
10.1.2. Asia Pacific Video Conferencing
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By TYPE
10.1.2.2. By Deployment mode
10.1.2.3. By Industry
10.1.2.4. By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Video
Conferencing Market: Estimates & Forecast
Trend Analysis
11.1. Middle East & Africa Market
Assessments & Key Findings
11.1.1. Middle
East & Africa Video
Conferencing Market Introduction
11.1.2. Middle
East & Africa Video
Conferencing Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By TYPE
11.1.2.2. By Deployment mode
11.1.2.3. By Industry
11.1.2.4. By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America
Video Conferencing Market: Estimates
& Forecast Trend Analysis
12.1. South America Market Assessments
& Key Findings
12.1.1. South America Video Conferencing
Market Introduction
12.1.2. South America Video Conferencing
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
12.1.2.1. By TYPE
12.1.2.2. By Deployment mode
12.1.2.3. By Industry
12.1.2.4. By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13. Competition Landscape
13.1. Global Video Conferencing Market
Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
13.2. Global Video Conferencing Market
Competition White Space Analysis, By End-user
13.3. Global Video Conferencing Market
Competition Heat Map Analysis, By End-user
13.4. Global Video Conferencing Market
Concentration & Company Market Shares (%) Analysis, 2022
14. Company Profiles
14.1.
Avaya, LLC
14.1.1. Company Overview & Key Stats
14.1.2. Financial Performance & KPIs
14.1.3. Product Portfolio
14.1.4. Business Strategy & Recent Developments
* Similar details would be provided
for all the players mentioned below
14.2. Microsoft
Corporation
14.3. Panasonic
Corporation
14.4. Huawei
Technologies Co. Ltd.
14.5. Logitech
International S.A.
14.6. AVer
Information, Inc.
14.7. BlueJeans by
Verizon
14.8. Cisco Systems,
Inc
14.9. Polycom, Inc.
14.10. Zoom Video
Communications, Inc.
14.11. Others
15. Research
Methodology
15.1. External Transportations /
Databases
15.2. Internal Proprietary Database
15.3. Primary Research
15.4. Secondary Research
15.5. Assumptions
15.6. Limitations
15.7. Report FAQs
16. Research
Findings & Conclusion
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
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Market Research Process
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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size of Video Conferencing Market in 2024?
Video Conferencing Market was valued at USD 27.07 Billion in 2024.
What is the growth rate for the Video Conferencing Market?
Video Conferencing Market size will increase at approximate CAGR of 7.3%during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the Video Conferencing Market Are Avaya, LLC, Microsoft Corporation, Panasonic Corporation, Huawei Technologies Co. Ltd., Logitech International S.A., AVer Information, Inc., BlueJeans by Verizon, Cisco Systems, Inc, Polycom, Inc., Zoom Video Communications, Inc. and Others.
Which region dominates the Video Conferencing Market?
North America dominates the market with an active share of 46%.
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