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Video Conference Systems Market Growth Analysis
Video Conference Systems Market Size, Share, Trend, Forecast, & Growth Analysis: 2022-2028
The Video Conference Systems Market is estimated to grow from USD 9.66 billion in 2021 to USD 33.6 billion by 2028 at a healthy CAGR of 19.25% during the forecast period of 2022-2028.
Video conference system is referred to as technology, which enables two or more people to converse in real-time by using computer networks. Video conferencing is an online technology that allows users in different locations to hold face-to-face meetings without requiring them to move to a single location together. It helps to conduct negotiating business deals, holding routine meetings, and interviewing job candidates, among others.
The market is mainly driven by the following factors-
In addition to this, the growing trend for cloud applications in Latin America as well as the soaring need to reduce communication costs among organizations further augments the industry growth. Furthermore, resolution upscaling, active participant framing, acoustic fencing, virtual backgrounds, real-time translation, active noise cancellation, automated note-taking capabilities, facial recognition, personal voice assistants, and proximity detection are some of the AI-enabled video conferencing features that further proliferates the market growth.
The outbreak of COVID-19 has positively influenced the video conference systems industry mainly due to lockdowns imposed by the governments across the globe, which resulted in travel restrictions and shut down of offices, educational institutes & other public meeting places. In addition, due to the closure of office spaces, employees have started working from home and are dependent on video conferencing to conduct discussions & run daily operations.
Key players operating in the market are-
Based on component, the market has been classified into hardware, software & service. The hardware segment accounted for more than 45.0% of the total market share in 2021. Increasing product demand driven by the rapid adoption of video conferencing solutions for team collaboration is the major factor driving the growth of the hardware segment.
Based on end-use, the market has been classified into corporate, education, healthcare, government & defense, BFSI, media & entertainment, and others. The corporate segment accounted for the more than 26.8% of total market share in 2021. This is mainly attributed to the growing development of cloud-based communication & collaboration of the software industry, opening up the market for new players.
By region, the North American market accounted for the largest share of more than 38.4% in 2021 and is expected to grow at a significant CAGR during the review period. The market growth is mainly propelled by rising up-gradation to existing equipment and subscription of cloud-based services. Furthermore, the growing demand for continuous access to high-quality internet and visual meetings, further bolstering the regional market growth.
Get the full scope of the report.
The Asia-Pacific Video Conference Systems market is expected to grow at the highest CAGR during the review period. The pandemic created a strong demand for high-quality internet infrastructure in the region allowing people to work remotely. The radical shift to the remote working model has surged the demand for video conferencing equipment, collaboration tools, and accessories, thereby boosting the regional market growth.
The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Report - Features |
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Market Segmentation |
3 |
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Regions Covered |
5 |
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Countries/Sub-Regions Covered |
16 |
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No. of Figures & Tables |
>70 |
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Company Profiles |
10 |
The market is segmented in the following categories-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
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Video Conference Systems Market Features |
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Market Size in 2021 |
USD 9.66 billion |
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Market Size in 2028 |
USD 33.6 billion |
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Market Growth (2022-2028) |
19.25% CAGR |
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Base Year of Study |
2021 |
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Trend Period |
2016-2020 |
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Forecast Period |
2022-2028 |
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Segments Covered |
By Component (Hardware, Software, Service) By End Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others) By Region (North America, Europe, Asia-pacific, Middle East & Africa, South America) |
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Top Companies in 2022 |
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Dominant Region |
North American Video Conference Systems market accounted for the largest share of more than 38.4% in 2021 |
The target audience of Video Conference Systems Market includes-
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
Oct 2022: Google's futuristic 3D-meeting tech is taking another step forward
Google is expanding the testing of Project Starline, its experimental 3D telepresence video-meeting system. The technology, which Google compares to a "magic window", uses light field 3D displays, an array of cameras around the participant backed by 3D imaging and real-time compression.
Oct 2022: Clark County Commission using federal relief for video conferencing
Federal relief will cover more than $26,000 in upgrades to technology in conference rooms for the Clark County Community and Development Department, a step in the process of adding video conference technology to Clark County government buildings.
Oct 2022: The Latest 360° Video Conferencing Camera from Kandao Brings Next-Generation Features to the Modern Meeting
Kandao’s video conferencing cameras, which aren’t much larger than a bottle of water, are designed to sit in the middle of your conference table and serve as a hub for all video and audio communications. Their complete view of the room enables them to clearly see everyone in attendance, and their smart tracking features allow them to highlight the speaker currently presenting, while also showing a close-up view of the other attendees.
The video conference systems market size was estimated at USD 9.66 billion in 2021.
The market is expected to grow at 19.25% CAGR during 2022-2028.
The market is expected to reach USD 33.6 billion in 2028.
Cisco Systems, Inc. (US), Polycom, Inc. (US), West Unified Communications Services (US), Vidyo, Inc. (US), Adobe Systems Incorporated (US), Microsoft Corporation (US), Arkadin International SAS (France), Logitech International S.A (Switzerland), Orange Business Services (France), JOYCE CR, S.R.O. (Czechia) are among the key players in the market.
Surging demand for unified communication in the U.S. and Europe, rising trend of work from home and online learning across the globe, increasing demand for high-speed communication infrastructure in the Asia Pacific are some of the factors driving the growth of the market.
North America is expected to be the largest market.
Video Conference Systems Vendors, Video Conference Systems Manufacturers, Video Conference Systems Distributors, Organizations, Government Bodies are the target audience in the market.
The corporate segment accounted for more than 26.8% of the total market share in 2021.
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