Video Conference Systems Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.

Market Insights

The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The present report mentions that The Video Conference Systems Market is estimated to grow from USD 9.66 billion in 2021 to USD 33.6 billion by 2028 at a healthy CAGR of 19.25% during the forecast period of 2022-2028. The video conference systems market is mainly driven by surging demand for unified communication in the U.S. and Europe, the rising trend of work from home and online learning across the globe, increasing demand for high-speed communication infrastructure in the Asia Pacific. In addition to this, the growing trend for cloud applications in Latin America as well as the soaring need to reduce communication costs among organizations further augments the industry growth. Furthermore, resolution upscaling, active participant framing, acoustic fencing, virtual backgrounds, real-time translation, active noise cancellation, automated note-taking capabilities, facial recognition, personal voice assistants, and proximity detection are some of the AI-enabled video conferencing features that further proliferates the market growth.

Market Segments' Analysis

According to Stratview Research, the Video Conference Systems Market is segmented By Component (Hardware, Software, Service), By End Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), and Region.

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.

Top key vendors in the market:

The report mentions a list of key players in the Video Conference Systems Market. Some of them are mentioned below –

·         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)

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