High focus on increasing employee’s productivity through video conferencing is anticipated to supplement the growth of corporate video conferencing segment. Further, rising business and trade activities and increasing number of small and medium enterprises is expected to drive the growth of the corporate video conferencing market.
Global enterprise video conferencing market is expected to flourish at a CAGR of 7.4% over the forecast period. Moreover, the global enterprise video conferencing market is anticipated to garner USD 7.9 Billion by the end of 2023. Factors such as rising adoption of video conferencing in healthcare and education, enhanced internet connectivity infrastructure are believed to be the dynamic factor behind the growth of enterprise video conferencing market during the forecast period. Moreover, increasing adoption of video conferencing among enterprises to reduce the operational cost is likely to intensify the growth of enterprise video conferencing market.
In 2016, North America captured the largest market share, with 38.1% in overall enterprise video conferencing market across the world. Further, North America region is projected to continue its dominance over the forecast period. This can be attributed to the high adoption of video conferencing in businesses and government. Asia Pacific is forecasted to witness robust growth over the forecast period. Expansion of industries and increasing number of new businesses and startups are propelling the growth of the enterprise video conferencing market in the Asia Pacific region.
Rising Adoption of Video Conferencing to Enhance Video Conferencing
High adoption rate of video conferencing solutions to boost the productivity of the employees is envisioned to bolster the growth of the enterprise video conferencing market. Additionally, factors such as reduction in operational cost i.e. travel expenses and others are anticipated to impel the demand for enterprise video conferencing solutions.
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Rising Penetration of Internet across the Globe
Enhancement in network connectivity is expected to positively impact the growth of the enterprise video conferencing market. Furthermore, launch of high speed networks in the world such as 4G network is expected to boost the growth of enterprise video conferencing market in the upcoming years.
Although, high cost of video conferencing equipment and lack of cyber security in communication are some of the factors that are likely to inhibit the growth of the global enterprise video conferencing market in the near future.
The report titled “Enterprise Video Conferencing Market: Global Demand Analysis & Opportunity Outlook 2023 ” delivers detailed overview of the global enterprise video conferencing market in terms of market segmentation by deployment type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global enterprise video conferencing market which includes company profiling of Cisco Systems, Microsoft Corporation, Avaya, Inc., Adobe Systems Incorporated, ZTE Corporation, Lifesize Inc., BT Conferencing, NTT Communications Corporation, Visions Connected Netherlands BV, Level 3 Communications, LLC and Singtel Optus Pty Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global enterprise video conferencing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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