Video Conferencing Market size was valued at USD 4.83 Billion in 2021 and is projected to reach USD 11.02 Billion by 2030, growing at a CAGR of 9.6% from 2022 to 2030. Although initially, the idea of working or studying or be it any activity which we had to do from home was horrifying. Zoom Video Communications, Inc. has a 12-month low of $68.88 and a 12-month high of $205.22. As a result of these reasons, this market is predicted to rise significantly. Marianne Curphey reports. India Video Conferencing Market Revenue Share, By Hardware Types, 2019 & 2026F, 9. During the projected period, the cloud segment is expected to grow at the fastest rate. Video conferencing is finding increasing acceptance among medical professionals to treat patients while practicing social distancing during COVID-19. (, 86% of Businesses Have Implemented a Covid-Related Policy. Today Zoom has become one of the most successful and used applications in the world. Zoom announced a new contact center-as-a-service product that provides video calling to companies seeking to offer their customers more visual interactions. With 42.8% The firm believes businesses are increasingly turning to web conferencing to improve communication and collaboration among employees. (, 3.4% of Americans worked from home before the COVID-19 pandemic. Indexes. The small & medium enterprise segment is estimated to grow at a significant rate over the forecasted period. The Outbreak Leads to Spike in Web & Video Conferencing Trend: Noteworthy Industry Activities, Other Industry Activities in the Web & Video Conferencing Space, Web & Video Conferencing - A Conceptual Overview and Classification, Web Vs. Video Conferencing: Similarities and Differences, Overview of Infrastructure Systems and Equipment Used, 2. Since Zoom has become a major player in the video conferencing space, its worth taking a look at how much of an impact theyve made in recent years and where they stand today. They're continually climbing the leaderboard because they focus on what the customer wants. Following the telepresence system, the service-based conferencing system segment is predicted to grow at the fastest rate over the forecast period. Below are some key software statistics and facts: With so much going on within the industry, its easy to miss some of the top headlines that are driving innovation within the video conferencing space. But it grew to 100 million in 2015. Gartner attributes the increase in spending to the continued growth of the web conferencing market, which it estimates will reach $3.4 billion by 2020. International university league tables are still dominated by the UK and the US, but tertiary institutions from Asia to Australia are increasingly offering a quality alternative. But since the pandemic has been easing, some companies are becoming more comfortable with hosting not just in-person meetings, but hybrid events as well. For example, the Canadian government offer funds to new startup firms for adopting the cloud-based solution. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 10.3% and 10.5 respectively over the analysis period. Adobe Inc.; Array Telepresence Inc.; Avaya Inc.; Cisco Systems, Inc.; Huawei Technologies Co., Ltd.; Logitech International S.A.; Microsoft Corporation; Plantronics, Inc.; Vidyo Inc.; and West Corporation. (, The remaining 4% of the video conferencing market share was obtained by multiple smaller vendors. Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography. In fact, in Japan, 65% of events will offer in-person and video conferencing options while in the UK 39% of events will offer in-person and video conferencing options after COVID-19 (. EXECUTIVE SUMMARY1. Video conferencing has evolved to not only talking about a project but to getting projects done. Nike has built one of the most powerful brands in the world through its benefit based marketing strategy. Gartner Places Zoom as a Market Leader. We do not compare or include all service providers, brands and offers available in the market. The top three web conferencing platforms in the United States hit more than a 70% market share during April, data gathered by LearnBonds have revealed. (, Software-as-a-service (SaaS) remains the largest public cloud services market segment and is expected to reach $176.6 billion in end-user spending in 2022. For example, in 2019, ezTalks has upgraded its video solutions called ezTalks Rooms which allows meetings of over 9,000 participants. Zoom built an AI tool that collects information from video conference transcripts and helps analyze calls in efforts to assist sales teams to close more deals. Avail of customized purchase options to meet your exact research needs. Yahoos story or case study is full of strategic mistakes. (, In 2021, Zoom dominated the video conferencing market share with 50% of the total market share. Video Conferencing Market Size, Share, 2020-2027 | Industry Report, HVAC (Heating, Ventilation, & Air Conditioning), Transparent pre & post sale customer engagement model, Unparalleled flexibility in terms of rendering services. India Video Conferencing Market Revenues, By Eastern Region, 2016-2026F, 21. File sharing allows users to share documents live on a call to allow for quicker reviews and feedback on certain files. Artificial intelligence (AI) and machine learning in video conferencing is a new technology trend that has risen recently. (, 88% of Businesses Encouraged Their Employees to Work from Home After the Pandemic Was Declared. This includes features such as transcriptions, which will write down everything users say during the call and can easily be accessible afterward. Earlier this week the modern enterprise video communications service, Zoom was named a leader in Gartner's Magic Quadrant for Meeting Zoom doesn't just stop at software,Zoom Rooms, the leading software-based conference room solution, features video and audio conferencing, wireless content sharing, and calendaring running on off-the-shelf hardware. With the help of Video Conferencing System Software market report, examine patterns in approving and co-development agreements, identify commercial prospects in the market sales situation. It's safe to say Zoom is making a tremendous impact in the meeting solutions market, and by the looks of things, they're only getting started. During the anticipated period, the service sector is expected to grow at a higher rate. The popular teleconferencing tool was already a dominant name in the video conferencing market, but to adapt to the current social distancing norms, it has become a household name. This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. (, Due to COVID-19, 61.9% of companies are planning more remote work now and in the following years to come. (, Zoom recorded 39.34 million downloads in Q1 2021 in the Asia-Pacific region. (, Enterprise software is projected to have the highest growth rate in 2022, at 11.5%. Below are a few statistics that reflect how COVID-19 has changed the way we work: 30% of organizations started using web conferencing for the first time due to Covid 19. The report was previously titledMagic Quadrant for Web Conferencing. This is especially true for video conferencing software, which has seen immense success in the last two years. modern enterprise video communications service, This news comes about six months after Zoom announced that it received the overall highest customer rating in the, The report notes that, within it, Contributors share their first-hand experience of vendors and products through the various stages of the IT lifecycle, from evaluation through deployment. As of today (13th Sept. 2018), Zoom has an. Recognition from Gartner and its end-user community comes on the heels of numerous other achievements for Zoom thus far in 2018. This trend has become more popular since it ensures all invitees can absorb the content without having to join these calls live. While critics are skeptical this will be achieved. Which segment based on types is expected to grow at a higher rate during the upcoming years? The country currently accounts for a 33.49% share in the global market. Monthly subscription costs around USD 25. Key Topics Covered: I. METHODOLOGYII. Additionally, growing adoption of authentication technologies such as facial detection & recognition. Microsoft Office 365 has a 53.95% market share. Mergers and acquisitions. It will also provide insight into if salespeople are speaking too quickly or using too many filler words during client calls. Conversation intelligence. Some of the software offered by major market players are Zoom meetings and chat, video webinars, Cisco Systems Webex suite, and Adobes Acrobat Connect Pro among others. The update can also pull insight from. How much growth has the market seen? India Video Conferencing Market Opportunity Assessment, By Service Types, 2026F, 27. Also, the app focused on large MNCs such as the University of Sydney and Wells Fargo. REGIONAL MARKET ANALYSIS, For more information about this report visit https://www.researchandmarkets.com/r/rbboe0, "Web and Video Conferencing SaaS - Global Market Trajectory & Analytics", https://www.researchandmarkets.com/r/rbboe0, Inflation data, Fed meeting will set the table for 2023: What to know this week, UPDATE 1-NASA's Orion capsule heads for splashdown after Artemis I flight around moon, Turkeys Erdogan Discusses Possible Grain Corridor Expansion, Soccer-Keeper Roebuck secures valuable point for City in Manchester derby, Analysis-European food delivery shapes up with Getir's Gorillas buy. He said he would try and get them on a Zoom call to talk through their problems and see how he could fix them. The technology is likely to also gain considerably from growing focus on telemedicine. Zoom now has 13 global data centres, as well as a presence in the US, UK, France, Australia, China, Japan, and elsewhere. As it is a versatile, dependable, and cost-effective video conference type, the reason it has been adopted across multiple verticals, therefore the desktop system market is expected to rise significantly. Recognition from Gartner and its end-user community comes on the heels of numerous other achievements for Zoom thus far in 2018. Various corporate events, trade shows, and international seminars have been canceled owing to the COVID-19 crisis initiated earlier January 2020. Zoom has also had growing adoption in large enterprises with companies like Walmart and Delta Air Lines switching to Zoom for video communications. Companies like Microsoft Corporation, and ezTalks Logitech are focusing on improving software capabilities to meet consumer needs. The rising demand for medical assistance for treating patients from remote places is boosting the market growth. On-premise deployment solutions are expected to grow at a substantial rate in the next few years. In fact, six out of ten workers reported being more productive than they expected throughout the pandemic and 70% of respondents felt that remote work would have a positive impact on their mental health according to this study. 67% of businesses have increased spending on web conferencing software the largest increase in remote tool spending. But since the pandemic has been easing, some companies are becoming more comfortable with hosting not just in-person meetings, but hybrid events as well. The rising emphasis of camera manufacturers such as AVer information for developing video cameras with additional features like artificial intelligence & facial recognition is supporting market growth. Zoom competes with 62 competitor tools in online-meetings category. Video Conferencing Hardware is expected to Ship 3.6 Million Units in 2022. (, Communication services will see the slowest overall growth rate for 2022 compared to 2021, but it still sits at the number one spot for the largest total spending levels next year at $1.48 trillion. Copyright 2022 Million Insights, All rights reserved. Large-scale enterprises are adopting these solutions due to their effective data security system. In developing countries such as India, the Philippines, and Brazil, there is a huge demand for online education, and telemedicine. Several enterprises offer innovative services such as digital tours. Based on type, it is divided into hardware, software, and services. (, 61% of software developers use Windows OS and 47% use Linux. What made it unknown but a massive banker? Quarterly smartphone market share worldwide by vendor 2009-2022 Zoom Meeting refers to a video conferencing meeting hosted using the Zoom application, where Room competes with 138 competitor tools in video-conferencing category. Development in protection solutions with enhanced encryption & password security is anticipated to increase the demand for these solutions. T. his segment currently accounts for a 9.7% share of the global Web and Video Conferencing SaaS market. The growing need for effective communication and fast decision-making with reduced cost are key factors contributing to the growth of video conferencing tools in the corporate business. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. Today video conferencing has been optimized to enhance productivity during meetings. 57% of businesses have increased spending on collaboration tools. BlackRock has $7.9 trillion worth of Asset Under Management which is equal to 91 sovereign wealth funds managed. Yes, its true! (, More than 667,600 IT jobs will be added between 2020 and 2030. In addition, due to benefits such as reduced cost & fast decision making, services like webcasts & telepresence are evolving with the help of advanced technologies. What questions do you have? Trends provide a great overview of where certain industries are heading. Merchant-focused Business & Growth Strategy of Shopify, Business, Growth & Acquisition Strategy of Salesforce, Strategy Ingredients that make Natural Ice Cream a King, Investing in Consumer Staples: Profiting from Caution, Storytelling: The best strategy for brands, How Acquisitions Drive the Business Strategy of New York Times. 41% of businesses have increased spending on security software. One such Application that helped us survive during the Pandemic was Zoom. (, Zoom was one of the fastest growing apps of the pandemic; meeting participants increased by 2900%. The majority of the corporate businesses are adopting the Work from Home policy due to the coronavirus pandemic. Cloud systems can be easily upgraded at any time. The hardware type is further divided into telepresence, service-based, and desktop systems. Companies like Cisco Systems, Adobe, and Microsoft have a strong presence across the world. Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and It can save time and money while also improving communication and collaboration. According to the Telemedicine Association of America, in the U.S, around 76.0% of healthcare firms utilize telehealth services. Zoom became the most well-known video-conferencing app during the COVID-19 after gaining about 635 % in 2020. In the global Healthcare segment, USA, Canada and Europe will drive the 9.1% CAGR estimated for this segment. The market size of video For example, in 2018, Cisco Systems has introduced the Cisco Webex Edge Connect system that uses the companys unified communication manager. Good international schools take the health and wellbeing of their students seriously, writes Ruth Holmes. During the anticipated period, the service sector is expected to grow at a higher rate on account of the increase in the usage of artificial intelligence and cloud-based video communication services. During the projected period, the telepresence system segment is expected to capture the most market share and see the fastest growth. (, In March 2020, video conferencing apps on Android and iOS hit a record of 62 million downloads in a week. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. India Video Conferencing Market Revenues, By Western Region, 2016-2026F, 22. By June 2020, the value of the company was $67 billion. Additional improvements to video include virtual backgrounds that allow users to blur their backgrounds and focus on the participant. For comparison, second-place Cisco Webex grew 91% over that same period.. Software from Microsoft and Google currently dominate the productivity software market. Starbucks prices products on value not cost. For example,the company offersits services to K-12 schoolsfor no charge in various countries like UAE, Germany, Canada, the UK, and the US. People started using up the service to keep in touch with friends, Family, conduct corporate meetings, and even host weddings, which had become quite a trend for some time. It experienced a massive jump from $70 in January to $150 in March (almost double of its original). Since many of these video conferencing software requires just a link to join, its easy for that one link to be compromised if sent to the wrong person. India Software Industry Composition, 2019, 6. The India Video Conferencing market report provides a detailed analysis of the following market segments: 1). Another reason for it becoming so popular and giving it an edge is its user-friendly nature. Soon it became the most downloaded apps. This development comes as an effort for LinkedIn to have users spend more time on their professional social networking site. As per a report, the global video conferencing market size is forecasted to reach $10.92 billion by 2027. Our solution offers the best video, audio, and screen-sharing Annual and Monthly subscriptions are offered by these solution providers. This system employs advanced technology to enable the conference to be streamed in high-definition video and audio. Moreover, the growing use of virtual private networks across different enterprises is expected to bolster the demand for video conferencing solutions. It was in January 2021 only that Zoom again raised $2 billion but through a common stock offering. The above statistics clearly show the current and upcoming state of the global video conferencing technology and how they are positively impacting business operations across industries and geographic locations. It was found that the mobile app for Zoom was installed about 3.7 times more than Skypes and 8.6 times more than Google Hangouts, therefore becoming the most favorite video calling app from March 2020 onwards. But it did experience a fall of more than 15% when the news broke in November 2020 about the vaccines efficiency. (, 31% of people have used a mobile phone to access video calls. (, Zoom Phone launched back in 2019 and Zoom has since sold over 1 million phone seats across 44 countries. India Video Conferencing Market Revenue Share, By Service Types, 2019 & 2025F, 13. The top alternatives for Zoom online-meetings tool are G Suite with 82.36%, Microsoft Office 365 with 7.86%, TeamViewer with 1.07% market share. Online Whiteboard. Some of the major key companies listed-Cisco, Microsoft, BlueJeans Network, Zoom, Google, LogMein, PGi, Huawei, Fuze, Vidyo, Adobe, Lifesize, Blackboard, ZTE, For anyone who wanted to talk to somebody, the phrase that would automatically come out is Lets talk on Zoom.. Whenever the word Videoconferenceing would come up, the first thing that comes up in a persons mind is downloading the software and understanding how to set it up along with many other complicated IT-related processes. The video conference market size in 2021 is estimated at $4.66 billion, video conference statistics indicate. India Video Conferencing Market Revenues, By Software Types, 2016-2026F (INR Crore), 3. Everyone can use the application no matter how they can access or connect to the internet. Ford announced a new partnership with Cisco, makers of Webex video conferencing software, to turn its Ford F-150 Lightning into an office space. of 4.7 out of 5 stars for the Meetings Solutions market based on 2434 reviews and has the highest overall rating in its category among vendors with more than 11 reviews. With several major companies from developed markets such as the US and Europe having their offshore production, development, and processing facilities in low-cost Asian destinations such as China, India, Korea, Vietnam among other countries, the demand for web & video conferencing systems in the region continues to rise.Healthcare Segment to Reach $373.2 Million by 2026. Virtual Meetings. No one could have thought how life would change overnight. (, Zoom has 2,278 business customers each contributing over $100,000 per year. The services type segment is projected to propel at a significant rate from 2020 to 2027. Although the pandemic has begun to ease in some areas, the work-from-home trend is still rising. Industry Insights. In value-based pricing, products are price based on the perceived value instead of cost. Some platforms are also allowing for live interpreter options to provide interpretations live instead of relying on AI to do all the translations. This publication (or any part thereof) may not be reproduced in any form without the prior written permission of Profile Locations. India Video Conferencing Market Revenues, By Other Sectors, 2016-2026F, 18. (, Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4% from 2021. All rights reserved. India Video Conferencing Market Revenues, By Services, 2016-2026F (INR Crore), 12. Microsoft, Cisco, and Zoom said they would improve interoperability among their products (Microsoft Teams, Cisco Webex, and Zoom) to allow users to join meetings with their choice of video conferencing software. The growing trend of Voice over internet protocol (VoIP) is enabling IT business to effectively manage their network infrastructure through free communication. (Future Processing, Nearly 70% of developers used Javascript in the past 12 months. Free report customization (equivalent up to 8 analysts working days) with purchase. Thus, network analytics companies like Kentik have foreseen growth in video traffic. Video conferencing solutions help in taking decisions faster with reduced cost. Before the Pandemic happened, many didnt like the idea of a video calling tool, but everything changed overnight when people were forced to stay inside and carry on with their daily work. In developing countries, healthcare companies are using these systems for training their employees. What is Zoom market share in the online-meetings? Below are a few statistics that reflect how working from home has impacted employees: The COVID-19 pandemic pushed abrupt closures of many offices and workplaces worldwide. Zoom Video Communications Stock Down 0.3 %. Presenter SpeechRyan MacWilliams Thanks for investors here for joining the Barclays TMT conference. Today you can find the application on almost every device. Security features such as encryption ensure that users dont only need a link to access a call, but may also need a specific password or email address to access the video conference. Eric Yuan initially founded zoom Video Communication (more famously known as just ZOOM) on April 21, 2011. The Web and Video Conferencing SaaS market in the U.S. is estimated at US$1.4 Billion in the year 2021. Video conferences that provide accessibility for users that understand different languages will be a significant trend in the coming years. It was in January 2021 only that Zoom again raised $2 billion but through a common stock offering. Unified communication and collaboration platform. The on-premises segment is expected to provide the most revenue. It also waived its monthly charge to all users in China. Google Apps currently has a 41.46% market share. India Video Conferencing Market Revenues, By Education Sector, 2016-2026F, 17. The companies using Zoom are most often found in United States and in the Religious Institutions industry. (. However, high costs linked with the deployment of these systems along with rising security concerns may restrain the market growth. Type above and press Enter to search. The emergence of new technologies such as IoT, cloud computing, VR, improved video compression, and AI are likely to drive the video conferencing market. (, Spending on data center systems will hit $207 billion, representing a 5.8% year-over-year increase. While video conferencing has become more established and has presented clear market leaders, moving forward we should take note of the innovations happening in the space that will further change the way we work. 3). In 2018, CyberAgent was looking for a new solution to solve issues related to the video conferencing system. See for yourself 410 E Santa Clara Street, Unit #1008 San Jose, CA, 95113, United States. (, Video conferencing stats show that the hardware segment led with a revenue share of 47%. How to Find a Network Security Key in Your Devices. Zoom is undoubtedly one of the worlds most popular video conferencing platforms. (, In 2021, Webex obtained 11% of the video conferencing market share. For example, in 2019, Adobe, Inc. has introduced new software called Adobe Connect with enhanced capabilities. Our data for Zoom usage goes back as far as 6 years. Moreover, growing awareness regarding advanced technology along with initiatives such as digital India is driving the development of the market. Video conferencing uses telecommunication technologies that involve real-time and transmission of video & audio content. Nokia is a perfect case study of a business that once invincible but failed to maintain leadership as it did not innovate as fast as its competitors did! Gartner Places Zoom as a Market Leader. Why Do People Think Email Marketing is a Good Idea? (, After COVID-19 92% of people surveyed expected to work from home at least 1 day per week and 80% expected to work at least 3 days from home per week. Press Esc to cancel. Zoom. People dont need a login to access a meeting, and the interface is relatively intuitive. Those who don't know me, I'm Ryan Mac, Barclays mid-cap analyst here at Barclays. Companies such as IBM Corporation and SAP SE focus on adopting these systems while training its employee & workforce. Centre for Global Excellence & Leadership, Guide to International Education & Schools, Guide to International Education and Schools Articles, Information and support for HR, global mobility, The Management Shift for Innovation and Agility Workshop, Global Mobility: Leadership Requires Presence, Relocate Global Celebrates Fresh Thinking, AltoVita creates best practice in sustainable corporate accommodation and travel, London leading the world in fintech firms, Global mobility transformation moves up a gear. At the Google states it has made these live translations available to a limited number of Workspace customers in early January and that it will release the feature to all users shortly afterward. This is due to the growing usage and popularity of cloud-based video collaboration solutions, which are projected to drive the market's growth in the near future. Our solution offers the best video, audio, and screen-sharing experience across Zoom Rooms, Windows, Mac, iOS, Android, and H.323/SIP room systems. Our solution offers the best video, audio, and screen-sharing experience across Zoom Rooms, Windows, Mac, iOS, Android, and H.323/SIP room systems. Market Dynamics: Will the Market Sustain Momentum in the Long Term? What is it then? Additionally, enterprises that have large workforces may not always have a 100% attendance rate when holding company-wide calls. (, 77% of people have used desktop computers or laptops to access video calls. The growth is attributable to major organizations increasing usage of on-premises video collaboration solutions in response to data security concerns and information security system maintenance. India video conferencing market report thoroughly covers the market by types, sectors, and regions. (, The SaaS industry has increased in size by around 500% over the past seven years. Mapped: The top video conferencing platforms in each country Multinational corporations that have offices in multiple countries will benefit from live translations in video conferencing calls. The government is also providing credit to some of the top software giants such as HCL, Zoho, Peopelink, and other top 10 software firms, as well as the opportunity to propagate new and innovative video conferencing prototypes and simultaneously launch the selected prototypes in the Indian market in the coming years, which will benefit the India video conferencing market in the forecast period. It also features personalized tools, including the ability to pick different backgrounds, change the camera angles, hold encrypted private calls, send direct messages, and record sessions. It now appears that Zoom has started expanding its footing across industries quickly as the coronavirus pandemic continues. (, Gartner attributes the increase in spending to the continued growth of the web conferencing market, which it estimates will reach $3.4 billion by 2020. The microphones segment is anticipated to grow at a significant rate owing to its high demand from sports events. Datanyze helps you Video conferencing solutions are witnessing a further increase in demand owing to an increasing count of online seminars, conferences, and international workshops. Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. India Video Conferencing Market Revenue Share, By Sectors, 2019 & 2026F, 4. Companies like Microsoft Corporation and Cisco Systems are focusing on developing video solutions using VoIP (Voice over internet protocol) technology. ). In August 2012, Zoom launched the first version of its product, which allowed up to 15 people to video chat at once. (, 55% of companies allow for remote work. These regional markets accounting for a combined market size of US$136.9 Million in the year 2020 will reach a projected size of US$259.3 Million by the close of the analysis period. Furthermore, favorable government initiatives encouraging the implementation of online education platforms are expected to boost development prospects in the coming years such as the Ministry of Human Resource Development (HRD) has provided a number of free digital e-Learning portals that students can use to continue their education when schools are closed due to COVID-19. Below are some of the key software spending statistics: The software sector has seen incredible growth in recent years. (. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Anyone could just send the invitation, and it would quickly launch the meeting. Which ushered in a new era of remote work for millions of employees across the globe. Employees back at work found their own video conferencing tool difficult, whereas Zoom was user-friendly, smooth, and free zoom accounts. During the projected period, the cloud segment is expected to grow at the fastest rate. Video Conferencing Players Heat up Competition with Innovative Features, Video Conferencing to Remain a Necessity & Undergo Makeover in Post-Pandemic World, Risk of Next Waves of COVID-19 Infections Looms Large Leading to Further Adoption of Web & Video Conferencing, Web & Video Conferencing SaaS: Industry Overview, Web & Video Conferencing SaaS Appears Poised to Remain Popular Trend in 2021, Developed Regions Enjoy Dominant Market Position, Developing Countries: Uncovering True Potential. Hybrid events are becoming a trend in work and allow for more attendance since the events will be easily accessible online as well and wont require a trip to the destination. 23% of businesses have increased spending on learning management software. The market is segmented into two segments based on software: cloud and on-premises. Below are some key statistics and facts about conferencing equipment: According to Markets and Markets, APAC is estimated to hold the largest market share in video conferencing in 2021. The name was influenced by Thacher Hurds childrens bookZoom City. Zoom has seen the most generous year-on-year development of the relative multitude of platforms. By Zoom Video Communications. There are a few trends that are worth noting when it comes to video conferencing technology. In the older days of video conferencing, technology was difficult to use, expensive and unreliable. India Video Conferencing Market Revenue Share, By Software Types, 2019 & 2025F, 11. In the healthcare industry, telepresence robots help in assisting the doctor while treating the patient from a remote location. It was only in May 2012; the organization changed its name to Zoom. Middle East Video Conferencing Market (2020-2026): Qatar, UAE, Saudi Arabia and Rest of Middle East), BUSINESS MODELS & KEY MANAGEMENT PRACTICES, Telecom, Information & Communication Technology, India Video Conferencing Market (2020-2026) | Size, Share, Trends, Industry, Analysis, value, Growth, Outlook & COVID-19 IMPACT. (, Worldwide end-user spending on public cloud services is forecast to grow 20.4% in 2022 to a total of $494.7 billion. A study conducted by Mercer found that 70% of companies said they were planning to adopt the hybrid model. If you are not a robot then please try again. Growth in the North America region is fueled by implementation of web & video conferencing solutions to replace or upgrade traditional systems and adoption of new technologies such as AI and IoT. How one step towards digital transformation completely changed the brand perception of Dominos from a pizza delivery company to a technology company? We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). In fact, in Japan, 65% of events will offer in-person and video conferencing options while in the UK 39% of events will offer in-person and video conferencing options after COVID-19 (Statista). Zoom is a video conferencing app, geared towards business usage. Below are a few video conferencing technology trends to be aware of as we move forward into 2022 and beyond: Cloud technology usage has been increasing and is a significant trend in video conferencing software. RELATED POSTSConnect a Remote Team with Workplace and Zoom8 Reasons Why HR Professionals Love Using ZoomMet Police Use Zoom Managed Webinar Service. Thus, several companies are focusing on adopting video conferencing tools, which is expected to surge the market growth, various government agencies also are carrying out their procedures through video conferencing due to lockdown situations. - Free and Premium Pricing tiers, Miro Most Common Integrations - Communications, How to deploy Risk management in Asana (Case study:NHS Kettering and Northampton), How to write Objective and Key results (OKRs). Africa Video Conferencing Market (2020-2026): Room-Based, Telepresence, Desktop), By Components (Hardware, Software, Service), By Applications (Corporate Enterprise, Education, Government, Healthcare), By Key Countries (South Africa, Egypt, Kenya, Ethiopia, Nigeria, Algeria, Morocco, Tanzania, Ghana and, Rest of Africa) and Competitive Landscape. Make meaningful connections with meetings, team chat, whiteboard, phone, and more in one offering. However, due to the COVID-19 outbreak, the market is expected to witness a decline in the demand for hardware components. India Video Conferencing Market Revenues, By Service Types, 2016-2026F (INR Crore). (, 83% of the workforce say because they can work from home, they have increased job satisfaction. This included moving around the video windows in the gallery view, pin video windows to be spotlighted, improved keyboard shortcuts, new tools to adjust the size of closed captioning text, and sign language interpreters windows who can sit directly next to the speaker. We will dive into 100 video conferencing key statistics and facts, and learn about 7 new trends for 2022 and beyond. Lastly, cloud-based video conferencing software can be accessed by any device, such as a laptop, phone, or tablet simply through a web browser or application. A customer (or a user) would use the product the more it is available to him/her. (, In 2021, TeamViewer obtained 8% of the video conferencing market share. The country currently accounts for a 33.49% share in the global market. The Google Hangouts desktop site will be available for use until November 2022. (, 78% of employees say they use web conferencing tools for team meetings. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Education segment is readjusted to a revised 10.3% CAGR for the next 7-year period. High-definition cameras and microphones, along with better internet speeds, have made video conferencing a more viable option for businesses and individuals. 2023 Stock Market Outlook >. For example, in 2016, Tech Mahindra has contracted with Cisco Systems to get video solution services for seven years. Video conferencing products will include a readily available recording afterward such as a quick and simple intro and outro to the video as well as any editing features to cut out unnecessary parts. If youre on a company call that is sharing sensitive information or sharing confidential files on the app, it comes as no surprise that security is top of mind for many companies using these video conferencing products. The video conferencing market is worth $4.66 billion. AI is improving video compression by optimizing the algorithm to identify the areas that require improved resolutions. Yuan was namedEntrepreneur of the Yearfor the Northern California region by Ernst & Young and earned the spot of#1 large company CEO in the US in the Glassdoor Employees Choice Awards. We have data on 106,041 companies that use Zoom. (. India Video Conferencing Market Revenues, By Northern Region, 2016-2026F, 20. India Video Conferencing Market Revenues, By Healthcare Sector, 2016-2026F, 16. For this study, Million Insights has segmented the global video conferencing market report based on component, deployment, enterprise size, end-use, and region: Component Outlook (Revenue, USD Million, 2016 - 2027) Hardware Camera Microphone & Headphone Others Software Services Professional Service Managed Service, Deployment Outlook (Revenue, USD Million, 2016 - 2027) On-premise Cloud, Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027) Large Enterprises Small & Medium Enterprises (SMEs), End-use Outlook (Revenue, USD Million, 2016 - 2027) Corporate Education Healthcare Government & Defense BFSI Media & Entertainment Others, Regional Outlook (Revenue, USD Billion, 2016 - 2027) North America U.S. Canada Europe U.K. Germany The Asia Pacific China India Japan Latin America Brazil Middle East & Africa (MEA). The government has announced a major overhaul of financial regulations to bolster the competitiveness of the UK as a global financial centre and deliver better outcomes for consumers and businesses. Earlier this week themodern enterprise video communications service,Zoom was named a leader in Gartner's Magic Quadrant for Meeting Solutions. Countries in the region are investing heavily in AI and 5G for reinforcing network connectivity systems, creating a dynamic environment for innovations that is likely to drive the web & video conferencing market. While gathering considerable When most major companies adopted remote work setups, Zoom was perfectly positioned to empower remote teams worldwide. Leading players in the market include Array Telepresence Inc.; Adobe Inc.; Cisco Systems, Inc.; Avaya Inc.; Huawei Technologies; Microsoft Corporation; Plantronics, Inc.; Logitech International S.A.; West Corporation; and Vidyo Inc. Key players in the market engage in new product launches, innovations, and strategic acquisitions to expand their product offerings. Nowadays, products are improving to increase productivity for remote teams. Over the past three years, Zoom has enjoyed an astounding 876% growth in number of customers in our network. Saudi Arabia Video Conferencing Market (2020-2026): By Regions (Eastern, Western, Central and Southern)and Competitive Landscape. Zoom Video Communications, Inc. (commonly shortened to Zoom, and stylized as zoom) is an American communications technology company headquartered in San Jose, California.It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform used for video communications (Meetings), messaging (Chat), voice calls (Phone), The hardware type is further divided into telepresence, service-based, and desktop systems. Eric left Cisco in April 2011 along with 40 engineers to start a new company initially named Saasbee, Inc. When on a live video call, ensuring the presentation is visually appealing has been a rising trend. Zoom became the most well-known video-conferencing app during the COVID-19 after gaining about 635 % in 2020. Zoom Rooms suit any meeting or collaboration space, from huddle rooms to training centres. As well as improving core functionality, Zoom are also building integrations with other disruptive SaaS platforms to help build a workplacefit for the Future of Work. Microsoft has made updates to Microsoft Teams that will create more equitable experiences for devices of all qualities. Zoom has market share of 5.51% in video-conferencing market. There were still few people other than the engineering group that Yuan took it upon himself to email any user who canceled the subscription. These solutions benefit manufacturing companies by improving productivity, reduced management costs. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$114.7 Million by the year 2026. Video conferencing is a key technology for businesses of all sizes. Moreover, rising penetration towards remote working and adoption of work from home is also proliferating the growth of the market. The global video conferencing market size was accounted for USD 3.85 billion in 2019 It is anticipated to grow at a CAGR of 9.9% over the forecast period, 2020 to 2027. 2022 Re:locate magazine, published by Profile Locations, Spray Hill, Hastings Road, Lamberhurst, Kent TN3 8JB. The infrastructural growth in APAC, especially in Japan, South Korea, Australia, Singapore, China, and India, and the increasing deployment of 5G networks present opportunities for the video conferencing market. Zoom is a future-friendly platform that enables workers to be as flexible as they want. (, 45% of teams use video calling tools daily or weekly. Save my name, email, and website in this browser for the next time I comment. The corporate enterprise sector remains the primary revenue generator for the web & video conferencing market due to increasing number of international companies and globalization of supply chains, which require long-distance visual communication for enhanced productivity. Various companies such as Robert Bosch, Sony Corporation have collaborated to develop standards like Open Network Video Interface Forum (ONVIF). (, In 2021, Microsoft Teams obtained 23% of the video conferencing market share. When users are using Google Workspace to work on a file together, they can easily make a video call to colleagues on the same document instead of having to switch to a third-party video conferencing app such as Zoom. If you'd like to find out more about Zoom, register for our latest Zoom webinar. (, North America is expected to be the worlds largest market for video conferencing Solution throughout the forecast period. (, 13% of people have used tablets to connect to video calls. Zoom Video Communications, Inc. (commonly shortened to Zoom, and stylized as zoom) is an American communications technology company headquartered in San Jose, California.It Based on type, it is divided into hardware, software, and services. Zoom is the leading web conferencing software and owns a market share of 38.21%. The video conferencing technology helps in transmitting the signals of video and audio, thus making it easier for the user to communicate in real-time. Profile Locations accepts no liability for the accuracy of the contents or any opinions expressed herein. Number of Technologies. What is this strategy and how Nike has used it? . India Video Conferencing Market Revenues, By Software Types, 2016-2026F (INR Crore), 10. (, In Q1 2022, the biggest growth driver in the public cloud ecosystem came from infrastructure which grew by 36% to reach over $44 billion. China will remain among the fastest growing in this cluster of regional markets. Gartner evaluated 13 meeting solutions vendors for 2018, assessing each on both abilities to execute and completeness of vision. What is the impact of COVID-19 on India Video Conferencing Market? With a vision to create the 21st centurys leading company, CyberAgent is a company that operates ABEMA, a new TV broadcaster of the future, and an Internet advertising business that boasts the top market share in Japan. SPY shares fell $0.43 (-0.11%) in after-hours trading Friday. The Zoom Video Communication Inc. accounted for around 15% of the video conferencing market share in 2020. The global video conferencing market size was accounted for USD 3.85 billion in 2019 It is anticipated to grow at a CAGR of 9.9% over the forecast period, 2020 to 2027. This is the fourth time Zoom has been positioned in this Gartner Magic Quadrant and its third time as a Leader! 2). (, During COVID-19, 86% of organizations used virtual technology to interview potential candidates. These are just a few of the many improvements that AI is making. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); You can reach us out at [emailprotected] .Disclaimer: The views and opinions expressed in any article on the website are solely those of the authors and do not necessarily reflect the official policy or position of companies in context. In 2019, the hardware component segment led the market with the largest market share in the overall market. 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Nike doesnt sell shoes. By June 2020, the value of the company was $67 billion. The company plans to give users at least a one-month notice then afterward, the site will point to the Google Chat site. With Zooms 4 word motto Make Communication Frictionless, It certainly did smooth the communication process. Zoom allows users to conduct audio and video meetings from 2 to hundreds of people. It was founded in 2011 by Eric Yuan, and launched in January 2013. (, In 2021, Google Meet obtained 4% of the video conferencing market share. (, Since 2020 people have been meeting by video calls 50% more since COVID-19. The free version of Zoom can host up to 100 video participants at once, whereas Microsoft (MSFT)-owned Skypes free model allows for 50. Dominos is not a pizza delivery company. Video conferencing is anticipated to be widely used by healthcare professionals to offer consultations and conducting uninterrupted sessions over video to support patents in remote areas. Hybrid Conferencing: Better Network and Video Quality Peps the Idea, The Rise of Hybrid Video Conferencing Culture, Raft of Lucrative Opportunities for Web & Video Conferencing Providers amidst COVID-19 Pandemic, Video Conferencing-as-a-Service (VCaaS) Platforms Leading from the Front, Largest Revenue Generators in Web & Video Conferencing Market Place in US$ Million - Skype, LogMeIn, Zoom, CISCO Webex, TeamViewer, Arkadin, Fuze and BlueJeans, Acquisition Targets: 'Buy & Build' Strategy Lead Big Companies to Fish for Small Ones, Zoom Takes Over Five9 to Strength Position in Enterprise Customer Segment of Video Conferencing Market, Zoom Earns Sterling Reputation amidst COVID-19 Pandemic: Witnesses Unprecedented Surge in Market Value, Taking Cue from Zoom's Soaring Popularity, Tech and Telecom Giants Ramp up New Video Chat Offerings, Apple Announces Acquisition of VR Startup Spaces, Dialpad Takes Over Highfive to Reinforce Position in Video Conferencing Market, Alianza Acquires CounterPath to Deliver Comprehensive Cloud Communication Portfolio, Video Conferencing Players Embark on Ambitious Moves to Tap Opportunities, App Talk: Free-of-Cost Web & Video Conferencing Services Flood the Market, Globally Dominant Players Market Share Scenario for Web and Video Conferencing SaaS Market (2020E) - Zoom, GoToWebinar, Cisco Webex, ON24, Adobe Connect, Livestorm and Others, Live Entertainment Players Resort to Virtual Platforms to Save Business, TV Companies Withhold Rights Payments to Major Sports Events due to Cancellation of Competitions, Eventbrite Engineers Self-Service Platform Experience to Reinvigorate Business Activity Post COVID-19 Impact, Investors Eye Online Event Management and Booking Platforms to Tap Opportunity. (, Organizations with more than 1,000 employees use 150+ SaaS applications. The product update, called Zoom IQ for Sales, provides sales teams with trends and action items from video calls with customers and provides AI-driven recommendations on the next steps. The solutions segment is expected to account for a major web conferencing market share throughout the forecast period. Trailblazers in people functions, like HR global mobility expertise, OD, learning and development, HR data analysts and talent managers, are seizing this post-covid age of flux finds a report published today by KPMG. These solutions help companies to collaborate their employee bases across different locations. Video conferencing could be set to overtake emails as the number one business communications tool, according to a new report. September 22, 2021. Starbucks has mastered the art of value-based pricing. According to National Association of Software & Service Companies (NASSCOM), the adoption of cloud-based solution are projected to increase up to 75.0% in the next eight years. (, 87% of team members say video calling has helped to speed up the decision-making process. As men and women spent countless hours on Zoom and other video-conferencing platforms during the pandemic, they couldnt escape the camera and began researching facial cosmetic enhancement services. For example, Eighth Conference on Learning Representation was projected to be held in March 2020, but owing to COVID-19, this was scheduled in April 2020 through video conference. On March 23, the time when countries were going under a lockdown, Zoom was downloaded 2.13 million times worldwide, from 2.04 million the day before, as per the app tracking firm Apptopia. Video conferencing solutions are witnessing an increased demand and popularity from certain areas that include online education and telemedicine; primarily in developing countries that include India, Brazil, Philippines, and China. The video conferencing market is expected to surpass $50 billion by 2026. As I've mentioned previously in this article, Zoom has been named a leader in Gartner's Magic Quadrant for a 3rd consecutive year! (, In Japan, 65% of events will offer in-person and video conferencing options while in the UK 39% of events will offer in-person and video conferencing options after COVID-19. Cloud-based video conferencing provides more convenience for users such as accessibility for mobile work, incorporating database functionality for uploading and accessing files, and allowing real-time updates to tasks and projects. The country's reduced internet connection prices, as compared to worldwide prices, are also projected to boost growth. This age of connectivity has brought many conveniences and advantages to Email marketing is dead. Moreover, Zoom introduced a new accessibility feature to make the app more comfortable to use in September 2020 for those who have hearing or visually impaired. (, 34% of people have used dedicated conference room equipment to attend a virtual meeting. The relationship between an employee and a boss is a significant one. Companies using Zoom. Headquartered in San Jose, California in the United States. The global (, The global value of the low-code development platform market is projected to be $46.4 billion by 2026. India Video Conferencing Market Revenues, By Government Sector, 2016-2026F, 15. The initiative aims to provide a simple way to use one device to hold video calls on various video conferencing software. (, 81% of those surveyed believe their employer will continue to support remote work after COVID-19. (, In Q1 2022 alone, Public Cloud Ecosystem Quarterly Revenues Leap 26% to $126 Billion. In addition, increasing demand from the education sector for web conferencing is anticipated to surge the market growth. As well as improving core functionality, Zoom are also building integrations with other disruptive SaaS platforms to help build a workplacefit for the Future of Work. Plantronics Inc. and Cisco Systems provide an annual subscription plan for USD 500 that can host 25 users. How big is the video conferencing market? AI is enhancing audio quality by improving voice recognition and identifying background noise to suppress it. This is due to the increasing demand for software applications and the advancement in technology. In fact, six out of ten workers reported being more productive than they expected throughout the pandemic and 70% of respondents felt that remote work would have a positive impact on their mental health according. Yuan was named, for the Northern California region by Ernst & Young and earned the spot of, If you'd like to find out more about Zoom, register for our latest, How To Manage and Keep Remote Teams Engaged, How to purchase Miro on G-cloud 13 (Gov.uk)~public sector, How to access Asana on G-Cloud 13 (GOV.UK), Connect a Remote Team with Workplace and Zoom, 8 Reasons Why HR Professionals Love Using Zoom, Met Police Use Zoom Managed Webinar Service, #1 large company CEO in the US in the Glassdoor Employees Choice Awards, Frost & Sullivans Asia-Pacific Cloud Video Collaboration Provider of the Year, Asana Business (What features do you get? The Video Conferencing Market growth at a CAGR of 11.30% & expected USD 41.41 billion by 2029. Within Europe, Germany is forecast to grow at approximately 11% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period. The growth is attributable to major organizations increasing usage of on-premises video collaboration solutions in response to data security concerns and information security system maintenance. Dublin, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The "Web and Video Conferencing SaaS - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. 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