Global Video Conferencing Software Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Deployment Model (On-Premise, Cloud), By Enterprise Size (Small, Medium, Large), By Industry Vertical (Education, Communication And Technology, Defense, Healthcare, BFSI, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Jul 2022 Report Code: KSI061613511 Pages: 111

The global video conferencing software market is projected to grow at a CAGR of 45.11% during the forecast period to reach a market value of US$92.926 billion by 2027, from a value of US$6.859 billion in 2020.

The growing integration among the key economies has led to the increased adoption of technology. This has resulted in the booming demand for internet accessibility across various regions. According to World Bank Data, the number of people using the internet has grown twofold in a decade, from 22.96% in 2008 to 49.72% in 2017.

The rising globalization has majorly contributed to the growing demand for video conferencing solutions globally. The use of video conferencing increases work efficiency while reducing the overall costs associated with non-virtual meetings. Global enterprises are increasingly deploying video conferencing solutions for video meetings, enterprise-level discussions, and group webinars to save time and operational costs.

Technological advancements to drive the market demand

Moreover, the growing focus on miniaturizing the devices equipped with video conferencing support to allow ease of handling and portability is also fuelling the market growth of video conferencing software. Smartphones, tablets, and laptops are integrated with full-fledged video conferencing software. The growing prevalence of cloud computing is also a driving factor behind the growth of the global video conferencing software market. Moreover, it encourages companies to adopt growth strategies such as partnerships and investments in order to expand their reach in the global market.

The rising influx of various technologies such as artificial intelligence (AI), machine learning, and IoT across various industries will further influence the adoption of video conferencing solutions driving the market growth of video conferencing software in the coming years.

The booming expansion of the global video conferencing industry is encouraging market players to launch new software as per the requirement of their customers. There has been a shift from discussions in meeting rooms to video modes. As such, numerous video conferencing software providers are striving to offer advanced solutions, thereby bolstering the global video conferencing software market growth. In June 2019, Logitech launched Sync, monitoring, and management software. With this software, companies can easily manage their video conferencing systems.

Impact of the COVID-19 pandemic on Video Conferencing Software Market

The recent COVID-19 global pandemic has significantly boosted the market growth of video conferencing software worldwide. Work-From-home (WFH) policies, social distancing, government lockdowns, and home quarantines in various countries have surged the demand for video-conferencing apps for personal and business use. The U.S. Centers for Disease Control and Prevention (CDC) officials have recently suggested that people can meet over voice or video calls instead of congregating in person due to the global outbreak of the COVID-19 virus.

The demand for video conferencing software solutions is increasing prominently as companies opt for video conferences due to the current pandemic. As such, the number of users using video conferencing solutions has spiked this year. For example, the video conferencing software company Zoom has recorded a surge in more active users this year compared to 2019. The company filed its IPO prospectus in 2019 to go public.

The global video conferencing software market has been segmented by deployment model, enterprise size, end-use industry, and geography. By deployment model, the global Video Conferencing Software market has been segmented into on-premise and cloud. The market segmentation by enterprise size is done as small, medium, and large. By industry vertical, the global video conferencing software market has been classified into education, communication and technology, defense, healthcare, BFSI, and others.  

North America to hold a major market share

Geographically, the global video conferencing software market has been segmented based on North America, South America, the Middle East and Africa (MEA), and Asia Pacific (APAC). North America held a significant market share in 2019 and will remain at its position until the end of the forecast period. Markets in North American countries like the U.S. and Canada are relatively mature regarding early adoption of new technologies coupled with significant market players, thereby bolstering the overall regional market growth.

Moreover, the availability of highly sophisticated network infrastructure in these countries also contributes to the market growth of video conferencing software in North America. With the recent coronavirus outbreak in the U.S. and other countries, companies like Zoom, Microsoft, and Google are witnessing skyrocketing demand for their video conferencing and chat software as millions of people work from home, coupled with school closures.

The Asia Pacific to witness significant market growth during the forecast period

Asia Pacific (APAC) is projected to witness a substantial compound annual growth rate during the forecast period. The emerging trend of BYOD (bring your own device) policies and enterprise mobility in enterprises of all sizes is driving the demand for video conferencing software in the region. Employers in this region are encouraging their employees to use their devices in order to reduce the overall operational cost. The availability of a skilled labour force at a cheaper rate is also attracting companies to set up their offices in this region, positively impacting the video conferencing software market growth.

The growing adoption of cloud-based video conferencing solutions, along with supportive government initiatives and policies to modernize ICT infrastructure, will continue to bolster the market growth of video conferencing software in APAC countries. 

Key Developments

  • October 2021: Zoom Video Communications Inc. announced the introduction of a few new features for its video conferencing platform. The new features include auto-generated captions on live video conferences, meeting attendance status, a two-way chat waiting room for participants to engage with the hosts, and more.
  • October 2021: HP Inc. unveiled HP Presence, a new line of conferencing and collaboration tools that enable people to work effectively and feel connected, even when they are not physically there. With meeting room solutions, PCs, and peripherals created for enhanced conferencing experiences, HP Presence ushers in a new era of hybrid work.
  • June 2021: - Livestorm unveiled the first Video Engagement Platform (VEP), which is intended to assist event planners in maximizing audience engagement for their online conferences or virtual events.

Global Video Conferencing Software Market Scope:

Report Metric Details
 Market size value in 2020  US$6.859 billion
 Market size value in 2027  US$92.926 billion
 Growth Rate  CAGR of 45.11% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Deployment Model, Enterprise Size, Industry Vertical, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Zoom Video Communications, Inc., Microsoft, Cisco, GoTo, Google, BlueJeans, Dialpad,Inc., TeamViewer, Lifesize, Zoho Corporation Pvt. Ltd.
 Customization scope  Free report customization with purchase

 

Segmentation

  • By Deployment Model
    • On-Premise
    • Cloud
  • By Enterprise Size
    • Small
    • Medium
    • Large
  • By Industry Vertical
    • Education
    • Communication and Technology
    • Defense
    • Healthcare
    • BFSI
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the video conferencing software market size by 2027?
A1. The global video conferencing software market is projected to reach a market size of US$92.926 billion by 2027. 


Q2. What are the growth prospects for the video conferencing software market?
A2. The video conferencing software market is projected to grow at a CAGR of 45.11% during the forecast period. 


Q3. What is the size of the global video conferencing software market?
A3. Video Conferencing Software Market was valued at US$6.859 billion in 2020. 


Q4. What factors are anticipated to drive the video conferencing software market growth?
A4. The growing focus on miniaturizing the devices equipped with video conferencing support to allow ease of handling and portability is also fuelling the video conferencing software market growth.


Q5. Which region holds the largest market share in the video conferencing software market?
A5. North America holds a significant share in the video conferencing software market.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Video Conferencing Software Market Analysis, By Deployment Model
5.1. Introduction
5.2. On-Premise
5.3. Cloud

6. Global Video Conferencing Software Market Analysis, By Enterprise Size
6.1. Introduction
6.2. Small
6.3. Medium
6.4. Large

7. Global Video Conferencing Software Market Analysis, By Industry Vertical
7.1. Introduction
7.2. Education
7.3. Communication and Technology
7.4. Defense
7.5. Healthcare
7.6. BFSI
7.7. Others

8. Global Video Conferencing Software Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. United Kingdom
8.4.4. Spain
8.4.5. Italy
8.4.6. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. Israel
8.5.3. UAE
8.5.4. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. India
8.6.4. South Korea
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Indonesia
8.6.8. Others

9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Company Profiles
10.1. Zoom Video Communications, Inc.
10.2. Microsoft
10.3. Cisco
10.4. GoTo
10.5. Google
10.6. BlueJeans
10.7. Dialpad,Inc.
10.8. TeamViewer
10.9. LifeSize
10.10. Zoho Corporation Pvt. Ltd.

Zoom Video Communications, Inc.

Microsoft

Cisco

GoTo

Google

BlueJeans

Dialpad,Inc.

TeamViewer

Lifesize

Zoho Corporation Pvt. Ltd.

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