The global video conferencing market was valued at US$ 3.69 Bn and is estimated to reach US$ 7.85 Bn by 2023, expanding at a CAGR of 8.5% during the forecast period from 2015 to 2023.
Albany, NY -- (SBWIRE) -- 03/07/2016 -- Video conferencing refers to conducting conferences using telecommunication technologies to enable real-time two-way transmission of audio and video. With increasing globalization, most organizations are shifting toward conference meetings in order to enable faster decisions and reduce traveling hassles. Additionally, in order to extend their reach globally, organizations around the world are increasingly focused on curtailing costs related to their means of communication. This has created immense opportunities for the video conferencing market, leading to the development of advanced conferencing solutions. Due to the availability of cloud-based solutions, which help organizations reduce their initial investment, the penetration of video conferencing solutions is estimated to increase substantially in the coming years.
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The report titled "Video Conferencing Market (On-premise, Managed and Cloud-based Video Conferencing) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 – 2023" aims to provide a comprehensive strategic analysis of the global market scenario along with the market size and growth forecast for the period from 2013 to 2023. The key factors driving the growth of video conferencing market are the increasing globalization of businesses and rising costs of international operations. With increases in the cost of managing and maintaining the global supply chain, the need for efficient and cost-effective means of communication has increased. Video conferencing is a viable solution for multinational organizations to easily establish communication among headquarters and various offices scattered around the globe. Another factor driving the growth of the video conferencing market is the rise in applications of video conferencing in the healthcare and education sectors. Healthcare organizations are able to widen the reach of healthcare services through managed video conferencing services and cloud-based video conferencing solutions. Remote patient monitoring and tele-consultation have been widely implemented across the world. In the education sector, video conferencing has found numerous applications in distance learning and web seminars. Educational institutes are able to offer tutorial and training services to numerous students in different parts of the world using video conferencing solutions.
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This research study on the global video conferencing market offers a detailed analysis of the various deployment models of video conferencing solutions and aims to explain the driving forces behind the rising demand for these models across different industries. The report also provides an analysis of the various factors affecting the market dynamics, such as market drivers, restraints, and growth opportunities. These factors help analyze various trends that would impact the market during the forecast period from 2015 to 2023. The report includes a comprehensive coverage of underlying economic and technological factors influencing the video conferencing market. The market positioning analysis of key players in the video conferencing market throws light on the prevalent competition in this market. The section also elucidates different strategies adopted by various players in the market along with recommendations.
Based on the deployment model, the video conferencing market is segmented into on-premise video conferencing, managed video conferencing services, and cloud-based video conferencing. Based on factors such as budget, scalability, availability, and security, customers identify a best-fit solution out of all the models in order to cater to their requirements. Cost plays a crucial role in the decision-making process for the installation of video conferencing solutions. Another factor that plays a crucial role in the selection of deployment model for video conferencing is security. Video conferencing solutions are deployed in various industries: corporate enterprises, government and defense, healthcare, education, manufacturing, retail, and media and entertainment. Factors that relate to the growth of video conferencing solutions in these industries have been identified in this report. The study provides a comprehensive assessment of various end-use industries and deployment models in the global video conferencing market. The report aims to provide a comprehensive cross-sectional analysis of the video conferencing market across geographies including North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America.
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The report concludes with the company profiles section, which provides an overview of the major companies operating in the market, including the strategies deployed by them to gain competitive advantage, annual revenue generated by them in the past two years, and key developments in the market. The companies profiled in this report include Polycom, Inc., Avaya, Inc., Cisco Systems, Inc., Microsoft Corporation, Vidyo, Inc., Lifesize (Division of Logitech International S.A.), ZTE Corporation, Huawei Technologies Co., Ltd., Adobe Systems, Inc., and InterCall (West Corporation).
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