Video Conferencing Market Size, Share, Growth, ana Marketing Strategy Analysis, Forecast To 2022 – by Credence Research
According to a new market research
report published by Credence Research “Video Conferencing Market (Corporate
Enterprises, Healthcare, Government & Defense, Education, Media &
Entertainment and Others (Retail, Manufacturing and Residential) - Growth,
Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022”, the
global video conferencing market was valued at US$ 3,967.6 Mn in 2014 and is
estimated to expand with a CAGR of 8.6% from 2015 to 2022.
Browse the full report at http://www.credenceresearch.com/report/video-conferencing-market
Market
Insights
Video
conferencing refers to video communication among two or more participants in
real-time. With the rising globalization of business organizations worldwide,
need for flexible, scalable and cost effective communication techniques has
grown substantially since the past few years. Video conferencing is a viable
solution for organizations to organize online conference thereby eliminating
the costs related to traveling and accommodation. Likewise, video conferencing
acts as a boon for business entities having multiple geographical locations
requiring frequent collaboration. Video conferencing solutions are available
both; on-premise as well as cloud-based. Video conferencing vendors also offer
managed solutions with an intent of delivering more feasible and cost-effective
solution to consumers. As a result, the market is witnessing a paradigm shift
towards cloud-based solutions due to their low costs as compared to the
on-premise deployment. Corporate enterprises and government & defense are
the largest consumer segments for these solutions. Due to growing penetration
of video conferencing solutions across these segments worldwide, advanced
solutions such as high definition (HD) video conferencing services are likely
to become popular in the coming years.
Competitive
Insights
The
global video conferencing market is highly consolidated in nature with few
major players accounting for more than 60% of the total market revenue. Major
companies dominating the market include Cisco Systems, Inc., Polycom, Inc. and
Huawei Technologies Co., Ltd. Some of the other prominent players in the market
are ZTE Corporation, Microsoft Corporation, Vidyo, Inc. and Avaya, Inc. The
market is largely technology driven and hence highly competitive in nature.
Thus, most of these players focus on offering viable and cost-effective
solutions in order to sustain in the market. As a part of providing advanced
solutions, video conferencing vendors focus on delivering cloud-based and high
quality video services.
Key
Trends
Shift towards cloud-based video
conferencing solutions
Focus on healthcare industry due to
increasing adoption of video conferencing solutions in the segmentIntroduction
of high quality video conferencing solutions comprising HD video service
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