Global Video Conferencing Market Trends And Strategies Of Major Players In The Video Conferencing Market 2021-2030
29 Oct, 2021
The video conferencing market consists of sales of video conferencing software and its related services by entities (organizations, sole traders, and partnerships) that enable users in different locations to conduct face-to-face meetings without the necessity to move to one place together. Video conferencing increases performance, saves time, minimizes travel costs, and facilitates collaboration. Video conferencing allows the power to encourage all those benefits without the necessity for constant travel for face-to-face communication.
Global Video Conferencing Market Size And Drivers:
The global video conferencing market is expected to decline from $7.87 billion in 2020 to $6.03 billion in 2021 at a compound annual growth rate (CAGR) of -23.35%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $8.67 billion in 2025 at a CAGR of 9.5%. The launch of 5G technology contributed to the growth of video conferencing market during the forecast period.
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Trends In The Global Video Conferencing Market
Gamification in video meetings is a leading trend gaining popularity in the video conferencing market. Video conferencing companies introducing gamification for corporate end-users in their video meetings to improve employee performance and drive productivity. Gamification includes components of game design, such as tasks, points, badges, and rewards in a non-game sense. Employers might split their workers into small groups and then using screen sharing and annotation functions, make them work on an activity remotely in a video conference. Moreover, few companies in the media and entertainment market are introducing gamification in their video meetings to attract a greater number of users and improve user experience. For instance, in August 2018, Facebook introduced new AR games to Messenger video chats.
Global Video Conferencing Market Segments:
The global video conferencing market is further segmented –
By Conference Type: Telepresence, Integrated, Desktop, Service-Based Video Conferencing System
By Deployment: Cloud, On-Premises
By Enterprise Size: Small And Medium Enterprises, Large Enterprises
By End-Use: Corporate, Education, BFSI, Media And Entertainment, Government And Defense, Others
By Geography: The global video conferencing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Video Conferencing Market At:https://www.thebusinessresearchcompany.com/report/video-conferencing-global-market-report
Video Conferencing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides video conferencing market overviews, analyzes and forecasts market size and growth for the global video conferencing market, video conferencing market share, video conferencing market players, video conferencing market segments and geographies, video conferencing market’s leading competitors’ revenues, profiles and market shares. The video conferencing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.