Video Conferencing Market 2022 Explosive Drivers of Revenue by Industry Statistics 2030 – Muleskinner

New York, (USA):- The global video conferencing market size was US$5.1 billion in 2021. The global video conferencing market is expected to reach US$11.1 billion by 2030 in registering a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2030.

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Using a technology called videoconferencing, people can connect in person from different locations without having to travel to distant locations to present in person. Businesses from different cities or countries benefit from video conferencing as it reduces the expense, time and aggravations associated with business travel.

Factors influencing the market

The global video conferencing market is expected to register potential growth owing to the growing preference for working from home. Additionally, a growing number of businesses and institutions are adopting video conferencing as the ideal method to initiate meetings, conferences, events, and more. Apart from this, factors such as growing awareness of the benefits of video conferencing combined with growing usage of e-learning software and tools are expected to bring lucrative growth opportunities for the video conferencing market over the course of the study period.

The benefits of video conferencing, such as reduced costs spent on traditionally educational modules, higher income, increased productivity, etc., are expected to drive the adoption of video conferencing during the study period.

On the other hand, a lack of technological infrastructure may limit the growth of the video conferencing market over the study period.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic, the demand for video conferencing has dropped significantly. This is due to the growing range of work from home policies adopted by most multinational organizations. Apart from this, organizations have started adopting highly efficient systems to initiate work-related events and meetings, which has led to a major increase in the video conferencing market in terms of revenue. Governments have also started to hold meetings and conferences through video conferencing tools to maintain staff safety. For example, the 8th ICLR 2020, originally scheduled for March 2020, was canceled and rescheduled to April 2020 as a virtual conference.

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Regional analysis

The Asia-Pacific video conferencing market will hold the highest share among all regions. This is due to the region being the fastest growing area. In addition, growing adoption of online high schools, rising demand for jobs, higher mobile penetration and increased digitization of content will contribute to the growth of the Asia Pacific video conferencing market during the period of study. Additionally, government interventions in national online education networks and shortage of effective teachers will provide lucrative growth opportunities for the video conferencing market during the study period.

Market competitors
• Adobe Inc.
• Array Telepresence Inc.
• Avaya Inc.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Logitech International SA
• Microsoft Corporation
• Plantronics, Inc.
• Vidyo Inc.
• West Company
• Other top players

Market segmentation
The global video conferencing market segmentation focuses on end user, offerings and region.

By type of end user
• Company
• Education
• Health care
• Government and Defense
• BFSI
• Media and Entertainment
• Others

By offers
• Material
• Software
• Services

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By regional perspectives
● North America
o United States
o Canada
o Mexico
●Europe
▪ Western Europe
o United Kingdom
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia-Pacific
o China
o India
o Japan
o Australia and New Zealand
or ASEAN
o Rest of Asia-Pacific
● Middle East and Africa (MEA)
o WATER
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

What is the purpose of the report?

1.The market report presents the estimated market size at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size and market valuation.
The report presents current industry trends and future potential for North America, Asia-Pacific, Europe, Latin America, Middle East and Africa markets.
3.The report provides a comprehensive view of the market based on geographic scope, market segmentation, and financial performance of major players.

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