While video conferencing has become more established and has presented clear market leaders, moving forward we should take note of the innovations happening in the space that will further change the way we work. In the telecom sector, companies such as Logitech S.A., and Cisco Systems are contracting with telecom companies. Therefore there was pressure on corporate IT to change their video-conferencing. Companies such as IBM Corporation and SAP SE focus on adopting these systems while training its employee & workforce. The on-premises segment is expected to provide the most revenue. India Video Conferencing Market Opportunity Assessment, By Software Types, 2026F, 26. The India Video Conferencing market report provides a detailed analysis of the following market segments: 1). Hybrid Conferencing: Better Network and Video Quality Peps the Idea, The Rise of Hybrid Video Conferencing Culture, Raft of Lucrative Opportunities for Web & Video Conferencing Providers amidst COVID-19 Pandemic, Video Conferencing-as-a-Service (VCaaS) Platforms Leading from the Front, Largest Revenue Generators in Web & Video Conferencing Market Place in US$ Million - Skype, LogMeIn, Zoom, CISCO Webex, TeamViewer, Arkadin, Fuze and BlueJeans, Acquisition Targets: 'Buy & Build' Strategy Lead Big Companies to Fish for Small Ones, Zoom Takes Over Five9 to Strength Position in Enterprise Customer Segment of Video Conferencing Market, Zoom Earns Sterling Reputation amidst COVID-19 Pandemic: Witnesses Unprecedented Surge in Market Value, Taking Cue from Zoom's Soaring Popularity, Tech and Telecom Giants Ramp up New Video Chat Offerings, Apple Announces Acquisition of VR Startup Spaces, Dialpad Takes Over Highfive to Reinforce Position in Video Conferencing Market, Alianza Acquires CounterPath to Deliver Comprehensive Cloud Communication Portfolio, Video Conferencing Players Embark on Ambitious Moves to Tap Opportunities, App Talk: Free-of-Cost Web & Video Conferencing Services Flood the Market, Globally Dominant Players Market Share Scenario for Web and Video Conferencing SaaS Market (2020E) - Zoom, GoToWebinar, Cisco Webex, ON24, Adobe Connect, Livestorm and Others, Live Entertainment Players Resort to Virtual Platforms to Save Business, TV Companies Withhold Rights Payments to Major Sports Events due to Cancellation of Competitions, Eventbrite Engineers Self-Service Platform Experience to Reinvigorate Business Activity Post COVID-19 Impact, Investors Eye Online Event Management and Booking Platforms to Tap Opportunity. Artificial intelligence (AI) and machine learning in video conferencing is a new technology trend that has risen recently. Apple A Unique Take on Social Media Strategy. It is used to optimize connections, video compression, audio quality, and more for an improved user experience. Google Apps currently has a 41.46% market share. (, 86% of Businesses Have Implemented a Covid-Related Policy. The product also offers voice calls, text messaging, and web chat. For example, in 2018, Plantronics has acquired video solution developer, Polycom to boost its companys business. It can save time and money while also improving communication and collaboration. It was in January 2021 only that Zoom again raised $2 billion but through a common stock offering. A customer (or a user) would use the product the more it is available to him/her. By 2023, the annual video conferencing units and seat license shipments will reach 86.7 million. Zoom has market share of 5.02% in online-meetings market. Data security tools are used for efficient data transmission. The COVID-19 pandemic has had a profound impact on how people work. All rights reserved. In fact, Zoom has just released a chatbot for Workplace by Facebookthat allows users to seamlessly switch betweentheir video conferencing solution and collaboration platform. VoIP Phone System. Monthly subscription costs around USD 25. The hardware type is further divided into telepresence, service-based, and desktop systems. Google has made updates to make it possible to join Google Meet video calls from other Google productivity apps such as Google Docs, Google Sheets, and Google Slides, allowing for a smoother user experience when operating the workspace. It will also provide insight into if salespeople are speaking too quickly or using too many filler words during client calls. India Video Conferencing Market Revenues, By Corporate Sector, 2016-2026F, 14. There are 26.9 million software developers worldwide. What made it unknown but a massive banker? (, Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4% from 2021. Zoom is a video conferencing app, geared towards business usage. (, Video conferencing cuts travel costs by 30%. Following the telepresence system, the service-based conferencing system segment is predicted to grow at the fastest rate over the forecast period. Mergers and acquisitions. Zoom now has 13 global data centres, as well as a presence in the US, UK, France, Australia, China, Japan, and elsewhere. The on-premises segment is expected to provide the most revenue. Gartner Places Zoom as a Market Leader. The name was influenced by Thacher Hurds childrens bookZoom City. When users are using Google Workspace to work on a file together, they can easily make a video call to colleagues on the same document instead of having to switch to a third-party video conferencing app such as Zoom. (, 45% of teams use video calling tools daily or weekly. Industry Insights. The research report offers the primary data for the year 2022 and also provides the forecast data from the year 2022 to 2030 which is India Video Conferencing Market Revenue Share, By Sectors, 2019 & 2026F, 4. The increasing entrance of key market players in the market along with the rising integration of developed technologies such as artificial intelligence and cloud technology is driving the growth of the market. Gartner, Inc.,Gartner Peer Insights Voice of the Customer: Meeting Solutions Market, February 28, 2018, AfricaAsiaAustraliaCanadaEuropeUnited KingdomUnited States, Zoom Are Killing It! In the healthcare industry, telepresence robots help in assisting the doctor while treating the patient from a remote location. Providing production effects such as virtual backgrounds and readily available recordings is attracting many users to certain platforms. This included moving around the video windows in the gallery view, pin video windows to be spotlighted, improved keyboard shortcuts, new tools to adjust the size of closed captioning text, and sign language interpreters windows who can sit directly next to the speaker. What is Zoom market share in the online-meetings? (Global Market Insights Inc. 2020) The web and video conferencing market increased 500% Below are a few statistics that reflect how COVID-19 has changed the way we work: 30% of organizations started using web conferencing for the first time due to Covid 19. The emergence of new technologies such as IoT, cloud computing, VR, improved video compression, and AI are likely to drive the video conferencing market. Africa Video Conferencing Market (2020-2026): Room-Based, Telepresence, Desktop), By Components (Hardware, Software, Service), By Applications (Corporate Enterprise, Education, Government, Healthcare), By Key Countries (South Africa, Egypt, Kenya, Ethiopia, Nigeria, Algeria, Morocco, Tanzania, Ghana and, Rest of Africa) and Competitive Landscape. In fact, in Japan, 65% of events will offer in-person and video conferencing options while in the UK 39% of events will offer in-person and video conferencing options after COVID-19 (. India Video Conferencing Market Revenue Share, By Regions, 2019 & 2025F, 5. (, Microsoft Teams was the most compared product to Zoom throughout 2021. It was found that the mobile app for Zoom was installed about 3.7 times more than Skypes and 8.6 times more than Google Hangouts, therefore becoming the most favorite video calling app from March 2020 onwards. (. According tothe 2020 Businesses @ Work report from Okta notes, Zoom was the #1 fastest growing video conferencing app in 2016, and it hasnt slowed down since. As men and women spent countless hours on Zoom and other video-conferencing platforms during the pandemic, they couldnt escape the camera and began researching facial cosmetic enhancement services. (, Worldwide end-user spending on public cloud services is forecast to grow 20.4% in 2022 to a total of $494.7 billion. If youre on a company call that is sharing sensitive information or sharing confidential files on the app, it comes as no surprise that security is top of mind for many companies using these video conferencing products. India Video Conferencing market has witnessed significant growth owing to the integration of video communication services and solutions with sophisticated, unique, and innovative technologies such as artificial intelligence, the Internet of Things, and cloud-based solutions and technology. Zoom Video Communications, Inc. (commonly shortened to Zoom, and stylized as zoom) is an American communications technology company headquartered in San Jose, California.It Earlier this week the modern enterprise video communications service, Zoom was named a leader in Gartner's Magic Quadrant for Meeting India Software Industry Composition, 2019, 6. In fact, in Japan, 65% of events will offer in-person and video conferencing options while in the UK 39% of events will offer in-person and video conferencing options after COVID-19 (Statista). The increased demand for VCaaS as a service for staff training, deployment of new solutions, project consulting, and other uses is responsible for the expansion. Based on our analysis, the global video It's safe to say Zoom is making a tremendous impact in the meeting solutions market, and by the looks of things, they're only getting started. With so many people working from home, there has been a dramatic increase in the demand for remote working tools. Web Conferencing Software Market Share. Marianne Curphey reports. T. his segment currently accounts for a 9.7% share of the global Web and Video Conferencing SaaS market. India Video Conferencing Market Revenues, By Hardware, 2016-2026F (INR Crore), 8. Trends provide a great overview of where certain industries are heading. (, The COVID-19 pandemic pushed abrupt closures of many offices and workplaces worldwide. The government has announced a major overhaul of financial regulations to bolster the competitiveness of the UK as a global financial centre and deliver better outcomes for consumers and businesses. FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. BlackRock, the story of the worlds largest shadow bank. Mapped: The top video conferencing platforms in each country Hybrid events are becoming a trend in work and allow for more attendance since the events will be easily accessible online as well and wont require a trip to the destination. There were still few people other than the engineering group that Yuan took it upon himself to email any user who canceled the subscription. Key Topics Covered: I. METHODOLOGYII. The country's reduced internet connection prices, as compared to worldwide prices, are also projected to boost growth. We will dive into 100 video conferencing key statistics and facts, and learn about 7 new trends for 2022 and beyond. 2). This is the fourth time Zoom has been positioned in this Gartner Magic Quadrant and its third time as a Leader! This helped various people to use Zoom creatively. Copyright 2022 Million Insights, All rights reserved. Today video conferencing has been optimized to enhance productivity during meetings. The global Video Conferencing Market size is projected to register a CAGR of 12.6% during the forecast period, reaching USD 19.1 Billion by 2027 from an estimated USD For instance, in 2019, ezTalks has introduced the ezTalks meeting tools for communication through whiteboard via drawing. For example,the company offersits services to K-12 schoolsfor no charge in various countries like UAE, Germany, Canada, the UK, and the US. Furthermore, development in 5G technology is projected to create ample opportunities for market growth. Zoom. Some platforms are also allowing for live interpreter options to provide interpretations live instead of relying on AI to do all the translations. International university league tables are still dominated by the UK and the US, but tertiary institutions from Asia to Australia are increasingly offering a quality alternative. Dominos is not a pizza delivery company. (, Zoom Phone launched back in 2019 and Zoom has since sold over 1 million phone seats across 44 countries. The firm believes businesses are increasingly turning to web conferencing to improve communication and collaboration among employees. (, 34% of people have used dedicated conference room equipment to attend a virtual meeting. Zoom unifies cloud video conferencing, simple online meetings, and cross platform group chat into one easy-to-use platform. However, due to the COVID-19 outbreak, the market is expected to witness a decline in the demand for hardware components. In developing countries such as India, the Philippines, and Brazil, there is a huge demand for online education, and telemedicine. If you'd like to arrange a Zoom demo with Generation Digital, click here. The initiative aims to provide a simple way to use one device to hold video calls on various video conferencing software. Various companies such as Robert Bosch, Sony Corporation have collaborated to develop standards like Open Network Video Interface Forum (ONVIF). The global video conferencing market as a whole is expected to reach 9.95 billion in value by 2028 with a CAGR of 11.4% according to market prospects. Zoom and Microsoft Teams announced a partnership enabling their customers to receive cross-platform video calls and share meeting information between the two services without the need for extra licenses or third-party assistance. (, 81% of those surveyed believe their employer will continue to support remote work after COVID-19. Cloud-based video conferencing provides more convenience for users such as accessibility for mobile work, incorporating database functionality for uploading and accessing files, and allowing real-time updates to tasks and projects. - Free and Premium Pricing tiers, Miro Most Common Integrations - Communications, How to deploy Risk management in Asana (Case study:NHS Kettering and Northampton), How to write Objective and Key results (OKRs). India Video Conferencing Market Revenues, By Education Sector, 2016-2026F, 17. The conference experience and video quality for employees and enterprises is improving due to the use of AI-enabled technologies. (, Enterprise software is projected to have the highest growth rate in 2022, at 11.5%. The firm believes businesses are increasingly turning to web conferencing to improve communication and collaboration among employees. (, 77% of people have used desktop computers or laptops to access video calls. See for yourself 410 E Santa Clara Street, Unit #1008 San Jose, CA, 95113, United States. The presence of high-tech companies in the market is mainly driving the demand for these systems. Generation Digital is aZoom Partner offering Zoom related services around implementation, adoption, training, Zoom Rooms installation and development. Indexes. For example, in 2019, ezTalks has upgraded its video solutions called ezTalks Rooms which allows meetings of over 9,000 participants. Dont Lose Your Market Share. Eric left Cisco in April 2011 along with 40 engineers to start a new company initially named Saasbee, Inc. (, Video conferencing stats show that the hardware segment led with a revenue share of 47%. (, Since the start of the pandemic, most companies have been migrating to online-only events. The video conferencing market is worth $4.66 billion. During the anticipated period, the service sector is expected to grow at a higher rate on account of the increase in the usage of artificial intelligence and cloud-based video communication services. The growing advancement of technology coupled with cloud-based technology is also one of the major factors adding to the development of the industry. ), Is Asana Basic Free? 23% of businesses have increased spending on learning management software. Lastly, cloud-based video conferencing software can be accessed by any device, such as a laptop, phone, or tablet simply through a web browser or application. The top alternatives for Zoom online-meetings tool are G Suite with 82.36%, Microsoft Office 365 with 7.86%, TeamViewer with 1.07% market share. Type above and press Enter to search. Saudi Arabia Video Conferencing Market (2020-2026): By Regions (Eastern, Western, Central and Southern)and Competitive Landscape. Today Zoom has become one of the most successful and used applications in the world. In this piece, we connect Apples unique and successful take on social media to its core values. India Video Conferencing Market Opportunity Assessment, By Sectors, 2026F, 28. Video conferences that provide accessibility for users that understand different languages will be a significant trend in the coming years. The above statistics clearly show the current and upcoming state of the global video conferencing technology and how they are positively impacting business operations across industries and geographic locations. Polaris Market Research recently released a revised report on Video Conferencing Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2030. Everyone can use the application no matter how they can access or connect to the internet. The software industry has reaped significant benefits as a result of COVID-19's breakout, due to the imposition of a nationwide lockdown in the country to contain the spread of coronavirus, the majority of businesses have adopted work-from-home strategies, which has boosted the market value of video conferencing solutions, as businesses rely on video conferencing solutions to maintain timely meetings and conferences with employees from the comfort of their own homes. How? Two months earlier, the app just had less than 56,000 global downloads a day. (, 87% of team members say video calling has helped to speed up the decision-making process. Video conferencing uses telecommunication technologies that involve real-time and transmission of video & audio content. (, Zoom has 2,278 business customers each contributing over $100,000 per year. Companies such as Hall & Zoom are offering free video communication tools for SMEs. The COVID-19 pandemic is rapidly fueling the market for video conferencing; wherein both government agencies and businesses are focusing on video conferencing to connect remotely with workforce, employees, and consumers for avoiding direct contact.The U.S. Market is Estimated at $1.4 Billion in 2021, While Asia-Pacific is Forecast to Reach $2.4 Billion by 2026. India Video Conferencing Market size is projected to grow at a CAGR of 20.4% during 2020-26. When most major companies adopted remote work setups, Zoom was perfectly positioned to empower remote teams worldwide. Trailblazers in people functions, like HR global mobility expertise, OD, learning and development, HR data analysts and talent managers, are seizing this post-covid age of flux finds a report published today by KPMG. (, The corporate segment dominated the market by acquiring a revenue share of over 28% in 2021. Another reason for it becoming so popular and giving it an edge is its user-friendly nature. The Google Hangouts desktop site will be available for use until November 2022. Below are a few statistics that reflect how working from home has impacted employees: The COVID-19 pandemic pushed abrupt closures of many offices and workplaces worldwide. Cloud systems can be easily upgraded at any time. How much growth is expected in India Video Conferencing Market during 2020-2026? This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. During the projected period, the telepresence system segment is expected to capture the most market share and see the fastest growth. At the This system employs advanced technology to enable the conference to be streamed in high-definition video and audio. launched the first version of its product. (, Since 2020 people have been meeting by video calls 50% more since COVID-19. (, In 2021, TeamViewer obtained 8% of the video conferencing market share. Moreover, growing awareness regarding advanced technology along with initiatives such as digital India is driving the development of the market. (, In 2021, Zoom dominated the video conferencing market share with 50% of the total market share. 77% of remote workers report higher productivity levels when working from home. Development in protection solutions with enhanced encryption & password security is anticipated to increase the demand for these solutions. Zoom market share is 73.83% with more than 181130 companies using this software. Market Dynamics: Will the Market Sustain Momentum in the Long Term? The report was previously titledMagic Quadrant for Web Conferencing. Video conferencing could be set to overtake emails as the number one business communications tool, according to a new report. Over the past three years, Zoom has enjoyed an astounding 876% growth in number of customers in our network. Our solution offers the best video, audio, and screen-sharing experience across Zoom Rooms, Windows, Mac, iOS, Android, and H.323/SIP room systems. Microsoft has made updates to Microsoft Teams that will create more equitable experiences for devices of all qualities. India video conferencing market report thoroughly covers the market by types, sectors, and regions. The market is projected to grow from USD 6.87 billion in 2022 to USD 14.58 billion by 2029, exhibiting a CAGR of 11.3% during the forecast period. Is Zoom Inching towards Market Saturation? The global video conferencing market size was accounted for USD 3.85 billion in 2019 It is anticipated to grow at a CAGR of 9.9% over the forecast period, 2020 to 2027. Presenter SpeechRyan MacWilliams Thanks for investors here for joining the Barclays TMT conference. In fact, six out of ten workers reported being more productive than they expected throughout the pandemic and 70% of respondents felt that remote work would have a positive impact on their mental health according to this study. Within Europe, Germany is forecast to grow at approximately 11% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period. Furthermore, a growing number of international workshops and online seminars are expected to increase the demand for video solutions. For example, Vancouver Biennale provides artwork tours through mobile phones. Touted as the most valuable car company in the world, Tesla firmly sticks to its zero dollar marketing. The update provides a feature that automatically translates English speech to Spanish, French, German, or Portuguese through captions that can be displayed at the bottom of the screen during a Google Meet video meeting. Several companies in the market utilize video conferencing systems for interacting & collaboration with dispersed teams across different regions. Scope of Increase of Artificial Intelligence (AI) in India, 2018-2024, 24. Zoom doesn't just stop at software,Zoom Rooms, the leading software-based conference room solution, features video and audio conferencing, wireless content sharing, and calendaring running on off-the-shelf hardware. As well as improving core functionality, Zoom are also building integrations with other disruptive SaaS platforms to help build a workplacefit for the Future of Work. Zoom has also had growing adoption in large enterprises with companies like Walmart and Delta Air Lines switching to Zoom for video communications. Yuan was named, for the Northern California region by Ernst & Young and earned the spot of, If you'd like to find out more about Zoom, register for our latest, How To Manage and Keep Remote Teams Engaged, How to purchase Miro on G-cloud 13 (Gov.uk)~public sector, How to access Asana on G-Cloud 13 (GOV.UK), Connect a Remote Team with Workplace and Zoom, 8 Reasons Why HR Professionals Love Using Zoom, Met Police Use Zoom Managed Webinar Service, #1 large company CEO in the US in the Glassdoor Employees Choice Awards, Frost & Sullivans Asia-Pacific Cloud Video Collaboration Provider of the Year, Asana Business (What features do you get? 41% of businesses have increased spending on security software. When on a live video call, ensuring the presentation is visually appealing has been a rising trend. (, 13% of people have used tablets to connect to video calls. Room competes with 138 competitor tools in video-conferencing category. Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and Additional improvements to video include virtual backgrounds that allow users to blur their backgrounds and focus on the participant. Apples social media strategy is extremely unusual. The Video Conferencing Tools market research report provides an in-depth analysis of the current trends, latest developments, scenarios, market size, various drivers, restraints, and major players along with their profile details.. Google states it has made these live translations available to a limited number of Workspace customers in early January and that it will release the feature to all users shortly afterward. As it is a versatile, dependable, and cost-effective video conference type, the reason it has been adopted across multiple verticals, therefore the desktop system market is expected to rise significantly. According to 6Wresearch, the India Video Conferencing Market Zoom also won theGold Stevie Awardfor Large Computer Software Company of the Year,rAVes Best of InfoComm 2018 Awardin three categories, andFrost & Sullivans Asia-Pacific Cloud Video Collaboration Provider of the Year. The government is also providing credit to some of the top software giants such as HCL, Zoho, Peopelink, and other top 10 software firms, as well as the opportunity to propagate new and innovative video conferencing prototypes and simultaneously launch the selected prototypes in the Indian market in the coming years, which will benefit the India video conferencing market in the forecast period. Asia-Pacific is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 12.9% through the analysis period. In the global Healthcare segment, USA, Canada and Europe will drive the 9.1% CAGR estimated for this segment. The Web and Video Conferencing SaaS market in the U.S. is estimated at US$1.4 Billion in the year 2021. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The small & medium enterprise segment is estimated to grow at a significant rate over the forecasted period. The rising number of technology and service-based companies across countries such as China and India is projected to boost market growth. Companies like Microsoft Corporation, and ezTalks Logitech are focusing on improving software capabilities to meet consumer needs. The market has witnessed an annual growth rate from 5.9% in 2019 up to 10.5% in 2020. One such Application that helped us survive during the Pandemic was Zoom. The report notes that, within it, Contributors share their first-hand experience of vendors and products through the various stages of the IT lifecycle, from evaluation through deployment. As of today (13th Sept. 2018), Zoom has anOverall Ratingof 4.7 out of 5 stars for the Meetings Solutions market based on 2434 reviews and has the highest overall rating in its category among vendors with more than 11 reviews. The growing need for effective communication and fast decision-making with reduced cost are key factors contributing to the growth of video conferencing tools in the corporate business. #1 Software in Web Conferencing. Following the telepresence system, the service-based conferencing system segment is predicted to grow at the fastest rate over the forecast period. Nowadays, products are improving to increase productivity for remote teams. Zoom allows users to conduct audio and video meetings from 2 to hundreds of people. For example, in 2018, Cisco Systems has introduced the Cisco Webex Edge Connect system that uses the companys unified communication manager. It experienced a massive jump from $70 in January to $150 in March (almost double of its original). Avail of customized purchase options to meet your exact research needs. The top alternatives for Room video-conferencing tool are G Suite with 87.14%, What is it then? India Video Conferencing Market Revenues, By Government Sector, 2016-2026F, 15. Corporate, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$4.1 Billion by the end of the analysis period. No matter how great the product was!! Starbucks prices products on value not cost. Regardless of which video conferencing software you are using, chances are youre seeing your vendor adopt at least one of the above trends. The industry is also primarily driven by the growing presence of knowledge and business outsourcing firms, which currently hold the largest share of the India video conferencing market. Although initially, the idea of working or studying or be it any activity which we had to do from home was horrifying. Zoom Video Communications, Inc. has a 12-month low of $68.88 and a 12-month high of $205.22. Companies like Microsoft Corporation and Cisco Systems are focusing on developing video solutions using VoIP (Voice over internet protocol) technology. Zoom was valued at $16 billion USD from trading after its the first day on the market. Yahoos story or case study is full of strategic mistakes. Zoom became the most well-known video-conferencing app during the COVID-19 after gaining about 635 % in 2020. (, In 2021, Google Meet obtained 4% of the video conferencing market share. The video conference market size in 2021 is estimated at $4.66 billion, video conference statistics indicate. (, Software-as-a-service (SaaS) remains the largest public cloud services market segment and is expected to reach $176.6 billion in end-user spending in 2022. The relationship between an employee and a boss is a significant one. The country currently accounts for a 33.49% share in the global market. 5.49% of the global market share of web conferencing is On March 23, the time when countries were going under a lockdown, Zoom was downloaded 2.13 million times worldwide, from 2.04 million the day before, as per the app tracking firm Apptopia. (, More than 667,600 IT jobs will be added between 2020 and 2030. Also, the app focused on large MNCs such as the University of Sydney and Wells Fargo. The market is segmented into two segments based on software: cloud and on-premises. The on-premises segment is expected to provide the most revenue. Some of the major key companies listed-Cisco, Microsoft, BlueJeans Network, Zoom, Google, LogMein, PGi, Huawei, Fuze, Vidyo, Adobe, Lifesize, Blackboard, ZTE, Upwork data found around 25% of Americans worked remotely in 2021, and by 2025, it suggests that around 36.2 million Americans will work from home. Some of the software offered by major market players are Zoom meetings and chat, video webinars, Cisco Systems Webex suite, and Adobes Acrobat Connect Pro among others. (, North America is expected to be the worlds largest market for video conferencing Solution throughout the forecast period. With Zooms 4 word motto Make Communication Frictionless, It certainly did smooth the communication process. LinkedIn is developing a new virtual events platform that offers audio and video calls. While gathering considerable Asia Pacific is anticipated to grow at the fastest CAGR during the forecasted period, 2020 to 2027. File sharing allows users to share documents live on a call to allow for quicker reviews and feedback on certain files. This age of connectivity has brought many conveniences and advantages to Email marketing is dead. During the projected period, the telepresence system segment is expected to capture the most market share and see the fastest growth. Google is beginning to migrate Google Hangouts users into Google Chat. Live translations during a video call are in the early stages of its trend. Anyone could just send the invitation, and it would quickly launch the meeting. Apart from listening songs and learning new languages and exploring different culture over time she developed interests in writing and gained interest in exploring different parts of the accounting/finance world. Annual and Monthly subscriptions are offered by these solution providers. Additionally, integrations that will connect all your essential apps and with AI can update all your systems from one video call. Save my name, email, and website in this browser for the next time I comment. Large-scale enterprises are adopting these solutions due to their effective data security system. Security features such as encryption ensure that users dont only need a link to access a call, but may also need a specific password or email address to access the video conference. This includes features such as transcriptions, which will write down everything users say during the call and can easily be accessible afterward. During the projected period, the cloud segment is expected to grow at the fastest rate. India Video Conferencing Market Revenues, By Software Types, 2016-2026F (INR Crore), 3. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); You can reach us out at [emailprotected] .Disclaimer: The views and opinions expressed in any article on the website are solely those of the authors and do not necessarily reflect the official policy or position of companies in context. The UK government is to legislate to give millions of employees the legal right to request flexible working on the first day of starting a new job. Shares of ZM opened at $72.16 on Friday. India Video Conferencing Market Dynamics, 6.1 India Video Conferencing Market Revenues, By Hardware, 6.2 India Video Conferencing Market Revenue Share, By Hardware Types, 6.2.1 India Telepresence Video Conferencing Market Revenues, 2016-2026F, 6.2.2 India Integrated Video Conferencing Market Revenues, 2016-2026F, 6.2.3 India Desktop Video Conferencing Market Revenues, 2016-2026F, 7.1 India Video Conferencing Market Revenues, By Software, 7.2 India Video Conferencing Market Revenue Share, By Software Types, 7.2.1 India On-Premise Video Conferencing Market Revenues, 2016-2026F, 7.2.2 India Cloud-Based Video Conferencing Market Revenues, 2016-2026F, 8.1 India Video Conferencing Market Revenues, By Services, 8.2 India Video Conferencing Market Revenue Share, By Service Types, 8.2.1 India Video Conferencing Market Revenues, By Managed Services, 2016-2026F, 8.2.2 India Video Conferencing Market Revenues, By Professional Services, 2016-2026F, 9.1 India Video Conferencing Market Revenues, By Corporate Sector, 2016-2026F, 9.2 India Video Conferencing Market Revenues, By Government Sector, 2016-2026F, 9.3 India Video Conferencing Market Revenues, By Healthcare Sector, 2016-2026F, 9.4 India Video Conferencing Market Revenues, By Education Sector, 2016-2026F, 9.5 India Video Conferencing Market Revenues, By Other Sectors, 2016-2026F, 10.1 India Video Conferencing Market Revenues, By Southern Region, 2016-2026F, 10.2 India Video Conferencing Market Revenues, By Northern Region, 2016-2026F, 10.3 India Video Conferencing Market Revenues, By Eastern Region, 2016-2026F, 10.4 India Video Conferencing Market Revenues, By Western Region, 2016-2026F, 12.1 India Video Conferencing Market Opportunity Assessment, By Hardware Types, 2026F, 12.2 India Video Conferencing Market Opportunity Assessment, By Software Types, 2026F, 12.3 India Video Conferencing Market Opportunity Assessment, By Service Types, 2026F, 12.4 India Video Conferencing Market Opportunity Assessment, By Sectors, 2026F, 12.5 India Video Conferencing Market Opportunity Assessment, By Regions, 2026F, 13.2 India Video Conferencing Market Competitive Benchmarking, By Operating Parameters, 13.2 India Video Conferencing Market Revenue Ranking, By Company, 2019, 1. Telepresence plays a vital role in industries such as the healthcare & education sector. Yuan was namedEntrepreneur of the Yearfor the Northern California region by Ernst & Young and earned the spot of#1 large company CEO in the US in the Glassdoor Employees Choice Awards. Additionally, enterprises that have large workforces may not always have a 100% attendance rate when holding company-wide calls. China, Japan, and India are the major countries contributing to the growth of the video conferencing market in APAC. Google announced that it will be sunsetting its Google Hangouts application. How one step towards digital transformation completely changed the brand perception of Dominos from a pizza delivery company to a technology company? Countries in the region are investing heavily in AI and 5G for reinforcing network connectivity systems, creating a dynamic environment for innovations that is likely to drive the web & video conferencing market. Extensive zoom meetings along with rising feasibility are adding to the development of the market. Get quick response from our industry experts. Increasing demand for employee training, project consulting services is mainly contributing to market growth. (, Communication services will see the slowest overall growth rate for 2022 compared to 2021, but it still sits at the number one spot for the largest total spending levels next year at $1.48 trillion. While critics are skeptical this will be achieved. Darren Palmer, Vice President, Ford Electric Vehicle Programs, stated, Ford is excited to be collaborating with Webex by Cisco for next-gen experiences in our electric vehicles, we see Webex as providing a secure and immersive collaboration experience. The feature will only be available for use when the vehicle is stationary and will have features that will suppress sound from others in the vehicle. This is due to the growing usage and popularity of cloud-based video collaboration solutions, which are projected to drive the market's growth in the near future. Video Conferencing Market size was valued at USD 4.83 Billion in 2021 and is projected to reach USD 11.02 Billion by 2030, growing at a CAGR of 9.6% from 2022 to 2030. During the projected period, the cloud segment is expected to grow at the fastest rate. (, The SaaS industry has increased in size by around 500% over the past seven years. Merchant-focused Business & Growth Strategy of Shopify, Business, Growth & Acquisition Strategy of Salesforce, Strategy Ingredients that make Natural Ice Cream a King, Investing in Consumer Staples: Profiting from Caution, Storytelling: The best strategy for brands, How Acquisitions Drive the Business Strategy of New York Times. India Video Conferencing Market Opportunity Assessment, By Hardware Types, 2026F, 25. EXECUTIVE SUMMARY1. FOCUS ON SELECT PLAYERS(Total 331 Featured), Web & Video Conferencing Industry: Key Trends in Nutshell, High Demand & User Expectations Make Things Interesting at Video Conferencing Level, Web & Video Conferencing: Integral Part of Enterprise Communication Mix, Prominent Factors Influencing Market Expansion, Web Conferencing Emerges as an Apt Alternative to Business Travel, Rise of Mobile Workforce & Deskless Workers Triggers New Wave of Growth, Video Conferencing Systems: March towards Home Office, Cloud Services: Double Edged Sword for Web & Videoconferencing Systems Market, Major End-Use Markets for Web & Video Conferencing SaaS Market: A Review, Enhancing Productivity through Team Collaboration & Faster Decision Making, Improving Internet Network Capabilities Aid Wider Adoption of Web & Video Conferencing Systems, Mobile Video Conferencing Endpoints Set the Stage for Progressive Growth, Capability Matrix for Video Conferencing Endpoints, 5G to Emerge as Game Changer for Mobile Video Conferencing, HD Technology Comes to the Fore to Redefine Video Conferencing Landscape, Issues Related to Utilization & Interoperability, Focus on UC Threatens Standalone Video Conferencing Systems, 4. Zoom had a decent launch when it was first founded in 2011, however, its popularity has exploded ever since the beginning of the COVID-19 pandemic in 2020. Hybrid events are becoming a trend in work and allow for more attendance since the events will be easily accessible online as well and wont require a trip to the destination. Wishing you a world of investment success! The hardware type is further divided into telepresence, service-based, and desktop systems. Zoom Video Communications, Inc. (commonly shortened to Zoom, and stylized as zoom) is an American communications technology company headquartered in San Jose, California.It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform used for video communications (Meetings), messaging (Chat), voice calls (Phone), Rapid globalization in business and the rising need for a remote workforce are boosting the demand for video communication solutions. In 2019, AVer has introduced a camera called CAM540 with advanced 4K features, smart frame functions. (, In 2021, Microsoft Teams obtained 23% of the video conferencing market share. (, 55% of companies allow for remote work. The increased demand for VCaaS as a service for staff training, deployment of new solutions, project consulting, and other uses is responsible for the expansion. Video conferencing products will include a readily available recording afterward such as a quick and simple intro and outro to the video as well as any editing features to cut out unnecessary parts. Zoom has market share of 5.51% in video-conferencing market. From wrong to missed acquisitions, wrong CEOs, the list is endless. Read more. Ford announced a new partnership with Cisco, makers of Webex video conferencing software, to turn its Ford F-150 Lightning into an office space. of 4.7 out of 5 stars for the Meetings Solutions market based on 2434 reviews and has the highest overall rating in its category among vendors with more than 11 reviews. What is Zoom market share in the video-conferencing? 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In fact, so many weddings were also held through zoom. (, After COVID-19 92% of people surveyed expected to work from home at least 1 day per week and 80% expected to work at least 3 days from home per week. (, The North American video conferencing market held a revenue share of approximately 39.0% in 2021 due to the higher adoption rate in the region. The cloud-based solutions segment is projected to propel at a significant rate during the forecasted period. Ciao! For example, Eighth Conference on Learning Representation was projected to be held in March 2020, but owing to COVID-19, this was scheduled in April 2020 through video conference. Companies like Cisco Systems, Adobe, and Microsoft have a strong presence across the world. The market size of video Below are some key software statistics and facts: With so much going on within the industry, its easy to miss some of the top headlines that are driving innovation within the video conferencing space. Below are a few statistics that cover Zooms growth and success as a video conferencing platform: The work environment landscape has changed dramatically since the pandemic. For this study, Million Insights has segmented the global video conferencing market report based on component, deployment, enterprise size, end-use, and region: Component Outlook (Revenue, USD Million, 2016 - 2027) Hardware Camera Microphone & Headphone Others Software Services Professional Service Managed Service, Deployment Outlook (Revenue, USD Million, 2016 - 2027) On-premise Cloud, Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027) Large Enterprises Small & Medium Enterprises (SMEs), End-use Outlook (Revenue, USD Million, 2016 - 2027) Corporate Education Healthcare Government & Defense BFSI Media & Entertainment Others, Regional Outlook (Revenue, USD Billion, 2016 - 2027) North America U.S. Canada Europe U.K. Germany The Asia Pacific China India Japan Latin America Brazil Middle East & Africa (MEA). The popular teleconferencing tool was already a dominant name in the video conferencing market, but to adapt to the current social distancing norms, it has become a household name. Below are some of the key. It also features personalized tools, including the ability to pick different backgrounds, change the camera angles, hold encrypted private calls, send direct messages, and record sessions. Why does Teslas Zero Dollar Budget Marketing Strategy work? Below are some key statistics and facts on the video conferencing market size that may give you an idea: The corporate segment dominated the market by acquiring a revenue share of over 28% in 2021. (, The AI market will grow to a $190 billion industry by 2025. Zoom Rooms suit any meeting or collaboration space, from huddle rooms to training centres. (, 74% of employees say that they are less likely to leave a company that offers remote work. The video conferencing technology helps in transmitting the signals of video and audio, thus making it easier for the user to communicate in real-time. Earlier this week themodern enterprise video communications service,Zoom was named a leader in Gartner's Magic Quadrant for Meeting Solutions. The world is battling a pandemic and to protect ourselves, WE among the ten million are working from home with using the Zoom app to connect with colleagues or clients. Increase in Internet Malware Activities in India, 2013-2019, (in Million Units), 7. The companies using Zoom are most often found in United States and in the Religious Institutions industry. Video Conferencing Hardware is expected to Ship 3.6 Million Units in 2022. The product uses machine learning models to make suggestions based on customer questions during sales calls. This update comes in an effort for Microsoft Teams to stand out from the competition where performance is a key indicator in the video conferencing space. Microsoft Office 365 has a 53.95% market share. The growing trend of Voice over internet protocol (VoIP) is enabling IT business to effectively manage their network infrastructure through free communication. This system employs advanced technology to enable the conference to be streamed in high-definition video and audio. (, Zoom has 88 customers contributing more than $1 million in annual revenue as of Q2 of FY 2021. GLOBAL MARKET PERSPECTIVEIII. For anyone who wanted to talk to somebody, the phrase that would automatically come out is Lets talk on Zoom.. Video Conferencing Market Size, Share, 2020-2027 | Industry Report, HVAC (Heating, Ventilation, & Air Conditioning), Transparent pre & post sale customer engagement model, Unparalleled flexibility in terms of rendering services. The video conferencing market is expected to surpass $50 billion by 2026. (, 30% of employees are full-time remote workers. (Future Processing, Nearly 70% of developers used Javascript in the past 12 months. Governments across Japan, China, and India have made it mandatory for their service providers to lower down the video quality to reduce the strain on the network. According to the Telemedicine Association of America, in the U.S, around 76.0% of healthcare firms utilize telehealth services. It was only in May 2012; the organization changed its name to Zoom. For comparison, second-place Cisco Webex grew 91% over that same period.. The software sector is expected to continue growing at a rapid pace. India Video Conferencing Market Opportunity Assessment, By Service Types, 2026F, 27. (, Zoom was one of the fastest growing apps of the pandemic; meeting participants increased by 2900%. The major chunk of the workforce was able to see the benefits of working from home, and for companies that seek to attract the best talent, they must at least accommodate those seeking remote work. The growing trend of cloud-based solutions and IoT devices is mainly boosting segmental growth. Captcha validation failed. Soon it became the most downloaded apps. . In August 2012, Zoom launched the first version of its product, which allowed up to 15 people to video chat at once. Video conferencing is finding increasing acceptance among medical professionals to treat patients while practicing social distancing during COVID-19. This is especially true for video conferencing software, which has seen immense success in the last two years. Multinational corporations that have offices in multiple countries will benefit from live translations in video conferencing calls. (, 61% of software developers use Windows OS and 47% use Linux. The microphones segment is anticipated to grow at a significant rate owing to its high demand from sports events. (, Gartner attributes the increase in spending to the continued growth of the web conferencing market, which it estimates will reach $3.4 billion by 2020. (, In Q1 2022 alone, Public Cloud Ecosystem Quarterly Revenues Leap 26% to $126 Billion. In value-based pricing, products are price based on the perceived value instead of cost. But it grew to 100 million in 2015. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 10.3% and 10.5 respectively over the analysis period. AI is enhancing audio quality by improving voice recognition and identifying background noise to suppress it. (, The number of meeting minutes Zoom facilitates every year is now over 3.3 trillion. (, The two fastest-growing categories of technology spending in 2022 are software and IT services. The market is segmented into two segments based on software: cloud and on-premises. In case you missed any, below are some notable video conferencing news so far in 2022: Zoom, Microsoft Team up for VR Video Conferencing, Ford is turning its EVs into video conference rooms with help from Cisco, Microsoft, Cisco, Zoom pledge conference room compatibility, Google Hangouts is shutting down in November 2022, You Can Now Join Video Calls from Google Docs, Sheets & Slides, LinkedIn is taking on Zoom with a new virtual events platform, Zoom launches AI tool for sales departments, Microsoft: Weve halved the power used by Teams video meetings to save your PC, Zoom takes its video service to the contact center. India Video Conferencing Market Revenues, By Services, 2016-2026F (INR Crore), 12. Employees back at work found their own video conferencing tool difficult, whereas Zoom was user-friendly, smooth, and free zoom accounts. The infrastructural growth in APAC, especially in Japan, South Korea, Australia, Singapore, China, and India, and the increasing deployment of 5G networks present opportunities for the video conferencing market. Moreover, rising penetration towards remote working and adoption of work from home is also proliferating the growth of the market. Additionally, the updates will include developments toward artificial intelligence and virtual reality features to enhance video conferencing on both Zoom and Teams. It sells an idea!! This is due to the growing usage and popularity of cloud-based video collaboration solutions, which are projected to drive the market's growth in the near future. The first two years, the company just had a small team (mostly engineers from WebEx). (TrueList). For example, IBM Corporation uses video solutions offered by Cisco Systems to provide unified training practices to their employees. Software from Microsoft and Google currently dominate the productivity software market. 57% of businesses have increased spending on collaboration tools. In the older days of video conferencing, technology was difficult to use, expensive and unreliable. (, 3.4% of Americans worked from home before the COVID-19 pandemic. The company plans to give users at least a one-month notice then afterward, the site will point to the Google Chat site. High-definition cameras and microphones, along with better internet speeds, have made video conferencing a more viable option for businesses and individuals. Call Transcripts. Today you can find the application on almost every device. Companies like Cisco Systems, Adobe Inc., focus on instituting long-term contracts with enterprises. Thus, network analytics companies like Kentik have foreseen growth in video traffic. 2023 Stock Market Outlook >. A study conducted by Mercer found that 70% of companies said they were planning to adopt the hybrid model. Video conferencing is anticipated to be widely used by healthcare professionals to offer consultations and conducting uninterrupted sessions over video to support patents in remote areas. Depending on deployment, the market of video conferencing is divided into on-premise and cloud-type deployment. One of the major reasons that Zoom became successful is because of its easy accessibility. Thus, several companies are focusing on adopting video conferencing tools, which is expected to surge the market growth, various government agencies also are carrying out their procedures through video conferencing due to lockdown situations. As per a report, the global video conferencing market size is forecasted to reach $10.92 billion by 2027. The Video Conferencing Market growth at a CAGR of 11.30% & expected USD 41.41 billion by 2029. The largest and fastest-growing market for Zoom are:-. (, In March 2020, video conferencing apps on Android and iOS hit a record of 62 million downloads in a week. These solutions benefit manufacturing companies by improving productivity, reduced management costs. Which segment among software is anticipated to provide more revenues? some of the major names holding the biggest video and web conferencing market share are: Cisco Systems, Inc. Zoom Video Communications, Inc. Logitech International S.A. Avaya, Inc. Huawei Technologies Co., Ltd. As it is a versatile, dependable, and cost-effective video conference type, the reason it has been adopted across multiple verticals, therefore the desktop system market is expected to rise significantly. Johnnie Walker The legend that keeps walking! (, 25% of Companies Will Move 10% of Their Workforce to Permanent Working-From-Home Positions After Covid. 3). But since the pandemic has been easing, some companies are becoming more comfortable with hosting not just in-person meetings, but hybrid events as well. 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