The "Global Video Conferencing Market by Component (Hardware, Solutions, Services), Application (Corporate Communication, Training & Development, Marketing & Client Engagement), Deployment Mode, Vertical, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global video conferencing market is expected to grow from USD 9.2 billion in 2021 to USD 22.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period.
Organizations worldwide are adopting video conferencing Solution to empower their client engagement, brand awareness, and marketing activities. With the help of video conferencing for marketing purposes, organizations can easily engage audiences, communicate with them more efficiently, and expand their reach. Video conferencing solutions help enhance customer engagement by enabling more communication with the clients, thus enabling them to have a better relationship with the enterprise.
Cloud mode of deployment segment is expected to grow at the highest CAGR during the forecast period
IaaS provides an organization with control over its data privacy and scalability management, hosting its on-premises data to the cloud. Video conferencing applications that are designed for self-hosting on IaaS platforms are referred self-hosting. IaaS providers, such as Microsoft, Google, Oracle, and Amazon, provide the enterprises with their data center available in most major metro areas. They offer with a global resilient network with large numbers of Points of Presence (PoP) near offices. IaaS is leveraged for both virtual private cloud and complete private cloud environments.
Healthcare segment to grow at the highest CAGR during the forecast period
The healthcare and life sciences vertical deals with diverse clinical, administrative, and financial content on a daily basis. This results in the requirement for channelized content insights and accurate clinical information that can be consolidated through video conferencing Solution. The collaborations enable healthcare providers in telemedicine and patient care, medical education, and healthcare administration applications to offer enhanced patient care by providing them with improved communication options. The solution enables face-to-face interactions between patients, healthcare teams, and family members to discuss various treatment options, located anywhere in the world. Video conferencing technology also helps with patient monitoring, consulting, and counseling.
Asia Pacific (APAC) region to record the highest growing region in the video conferencing market
APAC has several growing economies, such as China, Australia, New Zealand and Japan, which are expected to register high growth in the video conferencing market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of Video conferencing solutions across all industry verticals. APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
The market study covers the video conferencing market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on component, verticals, deployment mode, and applications, with regions covered. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.