VIDEO CONFERENCING MARKET ANALYSIS

Video Conferencing MarketSize and Trends

The global video conferencing market is estimated to account for US$ 11,177.2 Mn in terms of value by the end of 2028.

North America held dominant position in the global video conferencing market in 2020, accounting for 36.9% share in terms of value, followed by Europe, Asia pacific, Middle East, and Latin America respectively.

Figure 1: Global Video Conferencing Market Share (%), in terms of Value, By Region, 2020

The global video conferencing market was valued at US$ 6,308.7 Mn in 2020 and is forecast to reach a value of US$ 11,177.2 Mn by 2028 at a CAGR of 6.4% between 2021 and 2028.

Figure 2: Global Video Conferencing Market Value (US$ Mn), 2017 - 2028

Market Trends

1. Emergence of on premise video conferencing is a major trend

On-premise video conferencing refers to a set-up where the entire video conferencing solution including the infrastructure, network, and end-points are owned and located on premise of an organization. Such on premise solutions require a high initial investment, and a team of technical experts to manage and control various video communications in the organization. Despite its high cost, on premise video conferencing solutions offer various benefits such as total control over the video conferencing infrastructure, thereby ensuring a high degree of information security.

2. Managed video conferencing is another trend

In managed video conferencing solutions, organizations only need to acquire the end-points or peripherals required for video conferencing including camera, speakers, and microphones. Video conferencing infrastructure including multi-point control units (MCUs), video conferencing systems, and other advanced applications and features are all provided and managed by the video conferencing service provider. Managed video conferencing services comprise network and service management, bridging, scheduling services, and user support.