Video conferencing was a relatively new technology that was widely used in the commercial and corporate sectors. However, the pandemic epidemic that resulted in lockdown enhanced the presence of these applications not just globally, but also in the education sector. The video conferencing industry has benefited greatly from the exceptional growth in remote working due to the pandemic outbreak.
VIDEO CONFERENCING MARKET SEGMENTATION
Video Conferencing Market By Application
- Work Meeting
Video Conferencing Market By Enterprise size
- Small and Medium
Video Conferencing Market By Geography
- North America
VIDEO CONFERENCING MARKET DYNAMICS
Even though many nations’ lockdowns have been lifted, employers have continued to prefer ‘work from home,’ and this will drive growth in the online video conferencing market, as meetings are a vital component of the job.
US VIDEO CONFERENCING MARKET
The United States has given birth to a plethora of video conferencing platforms and is the industry leader with the most platforms. In the country, the Zoom application is far ahead of its competitors GoTOWebinar and Webex in terms of market share.
EUROPE VIDEO CONFERENCING MARKET
Pexip, a Norwegian business that raised 92.55 million Euros and has been a strong competitor to US platforms, is one of the many local developers who have come out with video conferencing applications. In the United Kingdom alone, video conferencing service provider StarLeaf has seen a 947 percent rise in daily call minutes.
CHINA VIDEO CONFERENCING MARKET
The decision by Zoom to stop providing hosting services to Chinese citizens will promote the expansion of domestic app developers like Tencent and Alibaba.
INDIA VIDEO CONFERENCING MARKET
Indian apps like Data Ingenious Global’sVideoMeet and Greet have pioneered the path for local developers. The government of India has extended the opportunity for IT companies to work from home till July 31st.
VIDEO CONFERENCING MARKET SIZE AND FORECAST
Asus, a computer and phone hardware company, has partnered with Google to launch the “Google Meet hardware kit,” which aims to boost video conferencing in the present climate. A 4K camera, speaker with built-in microphone, and an Asus laptop were included in the set. The product is intended for business clients.
LATEST TRENDS IN THE VIDEO CONFERENCING MARKET
- Reliance JioMeet, a new video conferencing app, is anticipated to be released soon.
- Icewarp, a software firm based in the United States, has expanded its offerings to include video conferencing solutions.
- BlueJeans, a teleconferencing application, has been acquired by Verizon. Netrwork
- Kredily, a Bangalore-based startup, has introduced ‘Greet,’ a new conferencing platform.
- During the first quarter of 2020, Pexip, situated in Norway, saw a 50 percent growth in yearly recurring income.
VIDEO CONFERENCING MARKET COMPANY PROFILE
- Google Meet
- Cisco Systems
- Reliance Indistries
- Alibaba Group
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Online Education Market: https://mobilityforesights.com/product/online-education-market/
Audio Transmitter Market: https://mobilityforesights.com/product/audio-transmitter-market/
Fintech Market: https://mobilityforesights.com/product/fintech-market/
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