Global Video Conferencing Market, Industry Growth, Analysis, and 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 segment
·
Introduction of high quality video
conferencing solutions comprising HD video service
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