/EIN News/ -- LONDON, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The demand for video conferencing multiplied in an unprecedented manner as the spread of coronavirus brought the world to a screeching halt, reshuffling perspective towards work and education.

According to the latest report published by Fairfield Market Research, the global video conferencing market is expected to be worth US$ 21,907.2 Mn by 2026 from US$ 9,790.2 Mn in 2021. The market will register a CAGR of 16.6% between the forecast years as the global economy finds itself flummoxed between saving costs and going back to brick-and-mortar offices.   

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Key Highlights of Global Video Conferencing Market:

• Cloud-based video conferencing to lead the way with CAGR of 17.4% in terms of value between 2021 and 2026 
• The service segment estimated to reflect a favourable growth, registering a value CAGR of 18.0% during 2021 – 2026
• Healthcare segment to create an incremental opportunity worth US$807.7 Mn between 2021 and 2026 for global video conferencing market
• APAC video conferencing market expected to grow at annual rate of 18.3% in terms of value between 2021 and 2022.

Hybrid Work Culture Emphasises on the Global Need for Video Conferencing Applications

As vaccines reach the masses, corporate offices are redefining and resetting the notions around work culture. For instance, in a recent announce Adobe Inc., a software giant declared its plans to allow its employees to work-from-home 50% of the time. It also plans to double the number of remote working employees, claiming that its future remains predominantly hybrid. As most institutions and corporations remained focussed on developing a flexible work model, the use of video conference will prove to be critical.

Asia Pacific to Remain Ahead as Sheer Volume of Remote Working Population Increases

Asia Pacific will hold a lion’s share in the global video conferencing market. Upgrade in infrastructure with 4G and 5G fiber networks, remote working models, and mammoth population in emerging economies of India and China are expected to drive this region. Analysts anticipate that Asia Pacific’s phenomenal surge will also be due startup cultures and co-working business prompting remote working operations.

Some of the key players operating in the global video conferencing market are Cisco, Microsoft, Google, Zoom, Enghouse Systems, Adobe, Pexip, Avaya, and amongst others.

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Detailed Table of Content

1. Executive Summary

1.1. Global Video Conferencing Market Snapshot

1.2. Future Projections

1.3. Key Market Trends

1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions

2.2. Market Taxonomy

2.3. Market Dynamics

2.4. Value Chain Analysis

2.5. Porter’s Five Forces Analysis

2.6. Covid-14 Impact Analysis

2.7. Key Patents

3. Global Video Conferencing Market Outlook, 2018 - 2026

3.1. Global Video Conferencing Market Outlook, by Deployment Type, Value (US$ ‘000), 2018 - 2026

3.2. Global Video Conferencing Market Outlook, by End-User, Value (US$ ‘000), 2018 - 2026

3.3. Global Video Conferencing Market Outlook, by Components, Value (US$ ‘000), 2018 - 2026

3.4. Global Video Conferencing Market Outlook, by Region, Value (US$ ‘000), 2018 - 2026

4. Competitive Landscape

4.1. Company Market Share Analysis, 2014

4.2. Company Profiles

4.2.1. Microsoft Corporation

4.2.2. Zoom Video Communications

4.2.3. CISCO

4.2.4. ADOBE

4.2.5. Google LLC

4.2.6. Avaya

4.2.7. Enghouse Systems

4.2.8. Pexip  

4.2.9. QUMU

4.2.10. Kaltura                                   

TOC Continued..!!!

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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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