Rising Trend of Mobile Endpoints and Video Conferencing Infrastructure Boosting Market Growth
Enterprises have been witnessing a growing need for video conferencing endpoints and infrastructure solutions for communication purposes, owing to its ability to improve productivity and outreach. Hence, growth in the enterprise video market is expected play a major role in enhancing the video conferencing market growth.
Mobility has always been the most preferred option for consumers in every industry. Owing to rising mobility trend in the current era, mobile video communication and mobile video conferencing are in great demand among all kinds of end users, ranging from industrial and enterprises, to social end users.
The trend of mobile video conferencing offers better business opportunities for cloud solution providers in the form of revenue streams and new markets. Mobile video conferencing needs customers to invest in Mobile Device Management (MDM), better data plans, and Mobile Access Management (MAM) for facilitating security, assignments, and maintenance.
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- Integration Technologies Group (VTC)
- TATA Communications
- Talk & Vision B.V (KPN Company)
- Arkadin Cloud Communications
- Lifesize, Inc
- IVCi, LLC
- Fuze, Inc.
- Jenne, Inc.
Increasing Globalization of Business Organizations Offering New Growth Avenues
With the advancements in communication technology, enterprises are now performing virtual meetings via video conferencing, video collaboration, and real-time video communication with employees and clients, across the globe. Cloud-integrated networking technologies make space for business organizations from all over the world to come together and discuss business opportunities.
The ability to transfer and connect information regardless of location, is what makes business collaborations easier and more effective. Also, rapidly increasing globalization of business organizations is expected to consequentially enhance the adoption of video conferencing endpoints and infrastructure across large-, medium-, and small-sized businesses.
For instance, in January 2020, Lifesize, Inc. partnered with Tech Data to distribute video conferencing services and meeting room systems to a broader portion of New Zealand and Australia, more effectively. This new distribution partnership will extend unified communication (UC) solutions and video collaboration portfolio to businesses of various sizes in this region.
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Rising Video Quality Issues to Restrict Market Growth
Quality of video is a major concern for a better video communication, as the number of quality-related issues are increasing rapidly. Consumer expectations, especially in the case of business applications, do not match with the consistently poor standards of video communication quality.
Moreover, a growing familiarity with high definition and 4K video resolutions continues to raise consumer expectations. There is a risk that poor video quality will affect the consumer experience in such a manner that users will reject participation and find alternate means of interaction.
Thus, low video quality or other video quality issues are anticipated to hinder the growth of the video conferencing endpoints and infrastructure market.
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New Trend of Video Banking to Bolster Demand for Video Conferencing Endpoints and Infrastructure
Video banking is emerging as a new trend, owing to growing preference for online and mobile banking among users. As consumers shift from ‘brick and mortar’ branches to digital banking, banks are closing or downsizing their branches and morphing themselves into low-cost, digitally-enhanced institutions.
Thus, there is a growing adoption of video conferencing in the banking sector for financial services, banker consultant, personal banking services, and many others.
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North America Dominating Global Video Conferencing Market
North America is dominating the video conferencing endpoints and infrastructure market in terms of value for video conferencing solutions owing to early adoption of advanced technologies in the region.
Moreover, the video conferencing market in Asia Pacific excluding Japan is anticipated to offer lucrative growth opportunities during the forecast period. Increasing usage of cloud-centric and software-based video conferencing services is expected to enhance growth of the market in the region.
A comprehensive view of the video conferencing market has led our analysts to conclude that, the market is growing at a compelling rate. North America and Western Europe are holding a significant share in the video conferencing market.
Furthermore, Asia Pacific excluding Japan and Western Europe are anticipated to grow at a significant rate during the forecast period. Alliances with other video conferencing solutions and service providers are some strategies opted by leading vendors to fuel their sales growth.
Video Conferencing Market: Segmentation
PMR’s research study on the global video conferencing market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the video conferencing market has been offered on the basis of component, product type, industry, and region. Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.
Key Questions Answered in Report
- How much is the video conferencing endpoints and infrastructure market worth?
The video conferencing endpoints and infrastructure market is bound to reach US$ 5.75 Bn in the year 2021. This billion-dollar mark is bound to take the market to greater strides in the next 10 years.
- What will be the demand outlook?
The video conferencing endpoints and infrastructure market is slated to witness a CAGR of 11.1% between 2021 and 2031.
- What was the last 5 year market CAGR?
The global video conferencing endpoints and infrastructure market witnessed a CAGR of 9.5% between 2015 and 2020.
- What are the key trends of video conferencing endpoints and infrastructure market?
The online trend implies the ever-increasing penetration of online and mobile banking, especially in the developing countries. Plus, video banking lets service providers securely connect with the co-workers and remote clients.
- What is driving the demand for video conferencing endpoints and infrastructure?
Growing adoption of various cloud-based video communication solutions like Skype, Zoom, Avaya Live Video, and likewise is driving the demand for video conferencing endpoints and infrastructure.
- What is the market share of top 5 players?
The top 5 players such as Cisco Systems, Inc., Verizon, Polycom Inc., Alphabet Inc. (Google LLC), and Adobe Systems hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving the demand for video conferencing endpoints and infrastructure include the US, UK, China, India, and Japan.
- What is North America’s market Outlook?
North America will continue to be the flag bearer to video conferencing endpoints and infrastructure market with the US housing majority of key players.
- At what percentage video conferencing endpoints and infrastructure market is going to register growth in Europe?
Europe is expected to register growth at the rate of 8% in the video conferencing endpoints and infrastructure market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and Korea are expected to account for the major share of the video conferencing endpoints and infrastructure market in the forecast period.