The latest report on Video Conferencing Market by Infinium Global Research gives complete coverage of the Video Conferencing Market by component (software, and hardware), end-use industry (government, corporate enterprise, education, media and entertainment, healthcare, and others) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Video Conferencing such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Major Benefits Offered by Video Conferencing are Reduced Travel Time and Cost
A video conference is a live connection by using telecommunication technologies between two or more people residing in separate locations for the purpose of communication. Video conferencing differs from videophone calls. In the business world, desktop video conferencing is an essential component of integrated communications applications and Web conferencing services, while cloud-based virtual meeting room services enable organizations to organize video conferencing with negligible infrastructure investment.
Uses for video conferencing include negotiating business deals, holding routine meetings, and interviewing job candidates. The major benefits offered by video conferencing are reduced travel time and cost. People calling from different locations, define start and end-times for structured meetings. This allows a more intensive discussion with less chit-chat, and participants are more likely to stay alert and focused on what is discussed.
Widespread adoption of smartphones and the introduction of 3G and 4G technologies across various locations drives the growth of the video conferencing market. Increasing adoption of cloud-based video conferencing has led to the implementation of better encryption and password protected solutions for cloud-based video conferencing systems. This, in turn, is strengthening the growth of the video conferencing market. Moreover, growing inclination of a mobile rising trend and Bring Your Own Device (BYOD) has led to widespread adoption of cloud-based video conferencing services.
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Several Growth Opportunities for the Key Players in the Video Conferencing Industry
The video conferencing service providers, such as ezTalks and Polycom are offering easily downloadable mobile applications that can transform mobile devices into video conferencing workstations. Furthermore, healthcare administrations have stretched the magnitude of healthcare services through accomplished video conferencing services and cloud-based video conferencing for distant patient observing and teleconsultation solutions. This, in turn, has created several growth opportunities for the key players in the video conferencing market.
Among the geographies, North America dominated the video conferencing market. The growth in the North American region is due to the availability of highly sophisticated network infrastructure along with the local presence of global players such as Cisco and Polycom. Favorable government initiatives for modernizing ICT infrastructure and increasing adoption of cloud-based video conferencing solutions are driving the growth in the Asia Pacific regions. Moreover, Advanced ICT markets such as Japan, Australia, and South Korea are observing cumulative rollouts of different delivery models for UC services.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Video Conferencing.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.