The
global market for video conferencing equipment and services, in terms
of revenue, was valued at US$ 3.31 Bn in 2013 and is forecast to grow
at a CAGR of 9.36% during the period 2014 to 2020. The increasing
need to lower operational costs and effective management of a global
supply chain in the business sector are the factors driving the
global video conferencing market. In addition, increasing adoption of
video conferencing services in the public sector is further expected
to drive the growth of the market during the coming years.
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Based
on deployment type, the on-premise video conferencing market held the
largest share of around 80% in terms of revenue in 2013. Other
deployment types namely, managed video conferencing services, and
cloud based video conferencing solutions are expected to grow at a
significant rate during the period 2014 to 2020. Factors such as
industry shift from hardware based to software based solutions and
rising need to curtail infrastructure expenditure are leading to the
growth of managed and cloud based video conferencing services. By
deploying software based solutions, organizations are able to
leverage the current trends including bring your own devices, and
mobile workforce to achieve higher efficiency and productivity among
employees. Organizations seek to deploy video conferencing solutions
offering higher availability, accessibility and with limited need for
hardware video conferencing infrastructure to reduce capital
expenditure.
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In
2013, corporate enterprise was the end-use industry that held the
largest share of nearly 70% of the overall video conferencing market
in terms of revenue. With increasing adoption of immersive
telepresence systems and video conferencing infrastructure in Fortune
100 companies, substantial amount of revenue is generated in the
on-premise video conferencing solutions segment. Moreover, high
priced end-points including high definition (HD) displays, cameras,
microphones and dedicated video conferencing network have contributed
to a huge proportion of the overall video conferencing market
revenue. However, rising need to lower capital expenditure and
operational costs has led to the increasing adoption of managed and
cloud-based video conferencing solutions in small and medium
enterprises (SMEs). In addition, with increased accessibility through
various electronic devices including laptops, tablets and
smartphones, cloud-based video conferencing solutions offer a robust
platform for video communications.
Developed
markets including North America and Europe led the global video
conferencing market in 2013. North America held the largest share of
about 37.3% in 2013 of the overall video conferencing market owing to
significant adoption by the business and government sector. However,
with increasing adoption in public, corporate and healthcare sector
in the region, the video conferencing market in Asia Pacific is
expected to be the fastest growing market during the coming years. On
account of increasing demand from countries such as India, China and
Singapore, the Asia Pacific video conferencing market is expected to
grow at a CAGR of 9.8% during the forecast period 2014 to 2020.
Further, catering to the rapidly emerging SME sector in Asia Pacific
through cloud-based solutions is anticipated to be the key to gaining
significant market share in the region during the coming years.
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The
global video conferencing market comprises numerous players offering
various video conferencing infrastructure, networks, end-points and
services. With the industry shift from hardware-based solutions to
software-based video conferencing solutions, key players offer a wide
range of video conferencing solutions to fit specific customer
requirements. The key players in the video conferencing market
include Cisco Systems, Inc., Polycom, Inc., Huawei Technologies Co.,
Ltd., Vidyo, Inc., Lifesize (Division of Logitech International
S.A.), ZTE Corporation, Avaya, Inc., Microsoft Corporation, Adobe
Systems, Inc. and InterCall (West Corporation).
The
global video conferencing market is categorized into the following
segments:
Video
Conferencing Market, by Deployment Type
- On-premise Video Conferencing
- Managed Video Conferencing
- Cloud-based Video Conferencing
Video
Conferencing Market, by End-use Industry
- Corporate Enterprise
- Healthcare
- Government and Defense
- Education
- Others (Manufacturing, Retail, Media and Entertainment)
Video
Conferencing Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
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