The latest report published by Fortune Business Insights states that the Video Conferencing Market Size 2022 is expected to grow steadily in the coming years. The report illustrated latest insights into market drivers, restraints, risks and opportunities in the global market. The Video Conferencing Market report shows the credible direction of the market in the coming years along with its estimates. A precise study aims to understand the market price. By analyzing the competitive landscape, the authors of the report have made excellent efforts to help the readers understand the key business strategies that large companies employ to maintain market stability.
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Report Coverage-
- The report highlights information on various segments at the global, regional, and country level.
- The report contains various details like market share, growth rate, product and their pricing by region/country.
- The report elucidates the market dynamics that are expected to drive the market growth in the forthcoming years.
- The report encompasses the details in relation to application, distribution channel, product type, business strategies, etc.
- The report also covers the COVID-19 impact on the prospected market.
Companies Profiled in the Global Video Conferencing Market:
- Avaya Inc. (California, United States)
- AVer Information Inc. (Taipei City, Taiwan)
- Blue Jeans Network, Inc. (California, United States)
- Cisco Systems, Inc. (California, United States)
- Huawei Technologies Co. Ltd. (Shenzhen, China)
- Logitech International S.A. (Lausanne, Switzerland)
- Microsoft Corporation (New Mexico, United States)
- Panasonic Corporation (Osaka, Japan)
- Polycom Inc. (Plantronics, Inc.) (California, United States)
The global video conferencing market size is projected to reach USD 10.92 billion by 2027, exhibiting a CAGR of 9.7% during the forecast period. The combination of video conferencing solutions with technologies such as artificial intelligence and the internet is expected to boost market growth, states Fortune Business Insights™ in its report titled "Video Conferencing Market, 2020-2027." As per the report, the market size stood at USD 5.32 billion in 2019.
Visual communication technology is fused with several technologies such as artificial intelligence (AI), the internet, and virtual reality to enhance the product's features. For example, Oterr.ai launched Live Notes and video captions during calls for Google Meet on 21st January 2020. Several businesses and workplaces across the world utilize video conferencing technologies because of their benefits during the outbreak, eliminating the risks of infection and reducing operational costs. Furthermore, the incorporation of video banking helps the bank representative and the people communicate directly and enhance work efficiency. The banking and finance sectors extensively use the technology to connect the customers with advisors, representatives, and officers to satisfy the consumer demand for virtual video banking. For example, National Westminster Bank announced video banking solutions for small and medium-sized enterprises (SME) in July 2019. The solutions offered the enterprises to conduct secure video calls on multiple platforms such as mobile, PC, laptops, and tablets. Hence because of the rising adoption of video conferencing in several technologies, the market is expected to grow.
An Overview of the Impact of COVID-19 on this Market:
This study specially analyses the impact of Covid-19 epidemic on the Cognitive Cloud Computing, covering the source restraint analysis, impact assessment to the Cognitive Cloud Computing market size growth rate in several scenarios, and the measures to be undertaken by Cognitive Cloud Computing companies in response to the COVID-19 epidemic.
Reasons to Purchase this Report:
- Comprehensive analysis of the Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
