The Middle East and Africa video conferencing software market is expected to grow at a CAGR of 12.18% from an initial value of US$18.221 million in 2021 and is estimated to reach a market size of US$40.723 million in 2028.
By utilizing video conferencing technology, businesses can boost collaboration, growth and learning, sharing of information, customer and employee engagement, team efficiency across time zones, and marketing efforts.
Cloud based deployment is gaining considerable popularity in the recent years. For instance, in January 2020, Etisalat partnered with Ribbon to unveil a novel cloud-based business communication solution in the UAE, targeted at small and medium businesses. This new platform provided various functionalities like instant messaging, video conferencing and screen sharing among others to help the businesses ease their operations.
Drivers:
Internet penetration in the region’s countries is expected to drive the market for video conferencing software due to a broadened customer demographic. According to the Communications and Information Technology Commission of Saudi Arabia, almost the entire population of the country was reported to have access to the internet in 2021.
Steps taken by the government to surge their digital economies are expected to further drive the demand for such software for applications in remote working and virtual education, among others. For example, boosting the digital economy of the nation is a huge priority set by Saudi Arabia as a part of its Vision 2030 plans. The country aims to boost it through huge investments in the digital sector. For instance, in March 2022, the government of Saudi Arabia announced an investment of SR 93 billion (USD 24.7 billion) till 2025 into technology and digitalization.
The establishment of new offices by multinational corporations are expected to drive the use of these video conferencing software at these locations in order to help them communicate with their global teams. For instance, in January 2023, Bain & Company opened its new office office at One Central In Dubai. Further, in February 2023, GoldTree Asset Management opened its maiden Middle East office in Dubai International Financial Centre. Such establishments in the region are thus expected to drive the demand for this software.
Key Developments
The rising application of multiple output power supply in various industry verticals such as automotive along with growing demand form OEMs is driving the growth.
The Middle East And Africa video conferencing technology market is segmented into education, communication & technology, defense, healthcare, BFSI, and others, based on industry vertical. The healthcare industry is projected to grow owing to the demand for medical care for patients in remote locations and medical institutions' emphasis on offering training for their staff members on using video conferencing systems. The healthcare sector is evolving and constantly seeing the advent of cutting-edge technological solutions to boost efficiency. However, with the development of technology, this sector is now investing in virtual solutions for improved performance. The use of video conferencing software in telehealth has made it possible for medical professionals to offer their patients telemedicine consultations, including consulting through video conferencing software. For instance, the Dubai Health Authority (DHA) introduced "Doctor for Every Citizen," a smart healthcare service, in 2021. Free phone and video consultations were provided by the programme.
Market Segmentation: