Video conferencing refers to conducting conference using telecommunication technologies for a real-time two-way transmission of audio and video. With rise in globalization, organizations are shifting toward videoconference meetings so as to enable faster decision making and reduce travel hassles. In the corporate sector, video conferencing is predominantly used for effective real-time communication over long distances at minimal cost and time and enhance productivity between teams based at different locations worldwide.
Additionally, it saves travel expenses and addresses customer queries in real time. The global video conferencing market is anticipated to grow at a CAGR of 7.9% during the forecast period. It was valued at approximately US$ 5 Bn in 2016.
Furthermore, among the end-use industries covered in the report, the corporate enterprise sector contributed significantly to global revenue of the video conferencing market. This is due to a rise in the number of multinational companies (MNCs) around the globe and globalization of supply chain, which has also led to a rise in need for effective long-distance communication. The health care segment is likely to expand at a CAGR of 9.2% during the forecast period.
A hospital can eliminate the need to transfer a patient that needs specialized ongoing care by using video conferencing. Use of video conferencing also improves the delivery of treatment as doctors in other locations can speak directly with those administering care and make clinical diagnoses and consultations with patients. Furthermore, the government & defense sector is also expected to contribute significantly to the overall video conferencing market.
Global Video Conferencing Market: Competitive Dynamics
The global video conferencing market comprises large as well as mid-sized valve manufacturers and suppliers. The vendors present in video conferencing market are currently focusing on introducing advanced software and integrating new capabilities within the software to enable video conferencing across company boundaries and meet the need to manage video delivery and quality. Moreover, the vendors are adopting partnerships and acquisitions strategies to proficiently compete in the regional market
Key players operating in the global video conferencing market include Adobe Systems Incorporated, Arkadin Cloud Communications, JOYCE CR, S.R.O., Logitech International S.A., Microsoft Corporation, Orange Business Services, Vidyo, Inc., West Unified Communications Services, and ZTE Corporation.
Request Exclusive Sample of this Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3961
The Video Conferencing Market has been segmented as below:
Market Segmentation: Global Video Conferencing Market
By End-use Industry
- Corporate Enterprise
- Health Care
In addition, the report provides analysis of the video conferencing market with respect to the following geographic segments:
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America