Technological advancements in 3D video conferencing software systems have opened up a wide range of new opportunities for individuals, businesses, and corporate entities who require virtual meetings to communicate across distances. Making use of specialized cameras, allows live stereo imaging and simultaneous transmission of 3D media across networks, thus revolutionizing the virtual meeting space. 3D video conferencing enables users to collaborate and converse with colleagues and peers in a setting that blurs the line between real and virtual world. 3D video conferencing technology software automatically converts two-dimensional images into 3D renditions.
On back of increasing applications of video conferencing endpoints and infrastructure solutions across different industry verticals such as healthcare, BFSI, manufacturing, government and education, the global video conferencing market is anticipated to grow at a CAGR of 10.6% during the forecast period.
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Key Takeaways of Video Conferencing Endpoints and Infrastructure Market Study
- Easy accessibility, maintenance, and availability of software after the deployment are expected to boost the demand for video conferencing solutions.
- Accelerating adoption of cloud-integrated as well as on-premise automation solution is another factor boosting the demand for advanced video conferencing endpoints and infrastructure solutions across all end-use industries.
- The software segment is expected to grow significantly owing to rapid upgradations for new features for video conferencing.
- North America dominates the video conferencing market owing to increasing usage of cloud-centric video conferencing solutions in the region.
“Growing preference for efficient enterprise mobility and a resultant increase in the number of network connected mobile device users, are motivating businesses to pursue cloud-based business management services. The increasing usage of such cloud-based business management services in healthcare, media & entertainment, education, and BFSI industries is expected to drive the video conferencing market growth during the forecast period,” says the PMR analyst.
Strategic Alliances for Product Innovation to Propel Market Growth
Video conferencing solution providers are upgrading their products to offer a wide range of solutions in different verticals or field by partnering and collaborating with other players in the market.
For instance in January 2018, Zoom Video Communications, Inc. partnered with OpenExchange, to provide video communication solutions for financial services market. Through this partnership both companies will help financial institutions with best possible user experience.
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Key Players :
- Integration Technologies Group (VTC)
- TATA Communications
- Talk & Vision B.V (KPN Company)
- Arkadin Cloud Communications
- Lifesize, Inc
- IVCi, LLC
- Fuze, Inc.
- Jenne, Inc.
Find More Valuable Insights on Video Conferencing Market
Persistence Market Research, puts forward an unbiased analysis of the global market for global video conferencing market, providing historical demand data (2014-2018) and forecast statistics for the period 2019-2029. To understand the opportunities in video conferencing endpoints and infrastructure the market is segmented on the basis of components (endpoints, software and infrastructure), product type (immersive telepresence, video conferencing / multipurpose), industry (government, healthcare, education, manufacturing, banking & financial services, others) across seven major regions.
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Key Questions Answered in Report
- How much is the video conferencing endpoints and infrastructure market worth?The video conferencing endpoints and infrastructure market is bound to reach US$ 5.75 Bn in the year 2021. This billion-dollar mark is bound to take the market to greater strides in the next 10 years.
- What will be the demand outlook?The video conferencing endpoints and infrastructure market is slated to witness a CAGR of 11.1% between 2021 and 2031.
- What was the last 5 year market CAGR?The global video conferencing endpoints and infrastructure market witnessed a CAGR of 9.5% between 2015 and 2020.
- What are the key trends of video conferencing endpoints and infrastructure market?The online trend implies the ever-increasing penetration of online and mobile banking, especially in the developing countries. Plus, video banking lets service providers securely connect with the co-workers and remote clients.
- What is driving the demand for video conferencing endpoints and infrastructure?Growing adoption of various cloud-based video communication solutions like Skype, Zoom, Avaya Live Video, and likewise is driving the demand for video conferencing endpoints and infrastructure.
- What is the market share of top 5 players?The top 5 players such as Cisco Systems, Inc., Verizon, Polycom Inc., Alphabet Inc. (Google LLC), and Adobe Systems hold more than 60% of the market share.
- What are the top 5 countries driving demand?The top 5 countries driving the demand for video conferencing endpoints and infrastructure include the US, UK, China, India, and Japan.
- What is North America’s market Outlook?North America will continue to be the flag bearer to video conferencing endpoints and infrastructure market with the US housing majority of key players.
- At what percentage video conferencing endpoints and infrastructure market is going to register growth in Europe?Europe is expected to register growth at the rate of 8% in the video conferencing endpoints and infrastructure market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?Japan and Korea are expected to account for the major share of the video conferencing endpoints and infrastructure market in the forecast period.
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