Stratview Research has published a new report titled “Video Conference Systems Market” which is segmented By Component (Hardware, Software, Service), By End Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), and Region.
As per the study, 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.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise 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.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen 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)
Key questions answered by the report
- What is the projected CAGR for revenue from the Video Conference Systems Market during the forecast period?
- What would be the market be valued at by 2026?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Video Conference Systems Market?
- Which are the major market players?
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