Stratview Research has launched a new report, titled Video Conference Systems Market, By Component (Hardware, Software, Service), By End Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), and Region
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, The Video Conference Systems Market is estimated to grow from USD 9.3 billion in 2020 to USD 27.6 billion by 2026 at a healthy CAGR of 20.5% during the forecast period.
Market Segments’ Analysis
Based on end-use, the video conference systems market has been classified into corporate, education, healthcare, government & defense, BFSI, media & entertainment, and others. The corporate segment accounted for the largest market share in 2020. This is mainly attributed to the growing development of cloud-based communication & collaboration of the software industry, opening up the market for new players.
By region, the North American Video Conference Systems market accounted for the largest share of almost 40% in 2020 and is expected to grow at a significant CAGR during the review period. The Video Conference Systems market growth is mainly propelled by rising up-gradation to existing equipment and subscription of cloud-based services. Furthermore, the growing demand for continuous access to high-quality internet and visual meetings, further bolstering the regional market growth.
The Asia-Pacific Video Conference Systems market is expected to grow at the highest CAGR of more than 8% during the review period. The pandemic created a strong demand for high-quality internet infrastructure in the region allowing people to work remotely. The radical shift to the remote working model has surged the demand for video conferencing equipment, collaboration tools, and accessories, thereby boosting the regional market growth.
The following are the key players in the Video Conference Systems Market
- Cisco Systems, Inc. (US)
- Polycom, Inc. (US)
- West Unified Communications Services (US)
- Vidyo, Inc. (US)
- Adobe Systems Incorporated (US)
- Microsoft Corporation (US)
- Arkadin International SAS (France)
- Logitech International S.A (Switzerland)
- Orange Business Services (France)
- JOYCE CR, S.R.O. (Czechia)
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Video Conference Systems Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Video Conference Systems Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: https://www.stratviewresearch.com/2450/Video-Conference-Systems-Market.html
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