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North America dominates the Video Conferencing market owing to early adoption of advanced technologies and high fundraising from this sector.

HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- Video Conferencing Market is forecast to reach $6.65 billion by 2025, after growing at a CAGR of 8.50% during 2020-2025. Video Conferencing is considered as visual communication session between two or more users irrespective of their location, featuring video and audio content transmission in real-time. Integration of video conferencing or online meeting tools with advanced technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) is set to drive the video conferencing industry. Growing adoption of video conferencing solutions in corporate sector and other end-user verticals such as education, healthcare, and the government will further enhance the overall demand for Video Conferencing market size during the forecast period 2020-2025.

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Key Takeaways
North America dominates the Video Conferencing market owing to early adoption of advanced technologies and high fundraising from this sector.
Development and growing adoption of 5G technology in developed and developing countries is set to fuel the video conferencing market growth. Adoption of cloud-based deployment models make video conferencing easy to turn just about any place with an internet connection and a power outlet into a video-enabled collaboration space.
Increasing adoption of new technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) is another factor driving market growth.
Development of software and solutions such as online meeting tools and others at affordable prices and acquisition of various companies for expanding its services in various regions have been driving the Video Conferencing market growth.

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Segment Analysis
Deployment - Segment Analysis
In the Deployment Type, the cloud-based deployment segment is expected to hold a larger market size than the On-Premise deployment. Cloud-based solutions offer increased convenience to end-users by enabling easy access to the video conferencing platform through multiple channels, such as laptops, tablets, and mobiles. Emerging trends such as Bring Your Own Device (BYOD) and mobile workforce have resulted in extensive adoption of cloud-based services. Increasing popularity and adoption of cloud-based solutions have resulted in the development of better encrypted and password-protected solutions. Furthermore, the increase in usage of cloud-based solutions and incorporation of virtual reality (VR) in video conferencing techniques are further driving the video conferencing solutions. Alongside this, the benefits associated with cloud models such as cost-effectiveness, scalability, and flexibility also augment the demand for cloud-based deployment.

End-Use Industry - Segment Analysis
In End Use Industry vertical, corporate sector leads the Video conferencing market as it is an effective communication tool and assists in reducing travel and operational costs for small and large-scale enterprises. In corporations, this technology is mainly used for cost-effective, real-time, and long-distance communication and for augmenting the productivity of various teams based in multiple locations. As the approach of corporate business owners with respect to modern communication systems and their implementation at the workplace changes, the deployment of video conferencing solutions for video meetings, group webinars, and enterprise-level discussions in the corporate spectrum is bound to become commonplace which will fuel the market growth.

Geography - Segment Analysis
North America dominated the Video Conferencing market with a share of around 35.49%, followed by Europe and APAC owing to increasing adoption of video conferencing systems for upgradation or replacement of systems and early adoption of advanced technologies such as IoT and AI. In 2019, StarLeaf, a leading provider of video conferencing services which is headquartered at U.K. had strengthened its presence in the U.S. with the unveiling of offices in New York City and Chicago to serve as strategic centers of support for enterprise customers. It has resulted in rapid growth in adoption of cloud-based video conferencing and increased the company’s footprint at U.S. covering organization across a wide range of sectors, thereby pushing the video conferencing market growth in North America.

Competitive Landscape:

The top 5 players in the Video Conferencing industry are -

1. Adobe Systems Inc
2. Plantronics, Inc
3. Avaya Inc
4. Cisco Systems Inc
5. Microsoft Corporation

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