Middle East and Africa (MEA) Video Conferencing Software market was valued at US$300.026 million in 2019. Governments in Middle East countries such as Saudi Arabia and UAE are trying to reduce their dependence on the oil and gas industry by encouraging enterprises across various industries to set up their business units and offices in these countries. This move towards business globalization is driving the market growth of video conferencing software in the region. The increasing number of online workshops, seminars, and conferences conducted in Middle East countries is further fuelling the demand for video conferencing software across this region. Growing adoption of digitalization among industries such as healthcare and BFSI in MEA countries will further drive the market growth of video conferencing software across this region during the forecast period. Recently, TCS (Tata Consultancy Services), India’s largest software services firm, has been chosen by Israel to launch the country’s first fully digital bank in order to boost competition in the country’s financial services sector while enhancing customer experience and making services accessible to the consumer. In February 2020, Vezeeta, a healthcare platform operating in the MEA region, has raised a $40 million Series D funding round led by UAE-based Gulf Capital, with further investment from existing Riyadh-based investor Saudi Technology Ventures (STV).
The recent novel COVID-19 pandemic outbreak has also positively impacted the video conferencing software market growth in the Middle East and Africa (MEA) region due to lockdown and quarantine orders to prevent the spread of the infection. However, security concerns is still holding up the video conferencing software market growth in this region to reach its full potential.
The Middle East and Africa (MEA) Video Conferencing Software market has been segmented based on the deployment model, enterprise size, industry vertical, and country. By deployment model, the market has been segmented as on-premise and cloud. By the enterprise size, the Middle East and Africa (MEA) Video Conferencing Software market has been classified into small, medium, and large. The market segmentation has also been done by industry vertical as education, communication and technology, defense, healthcare, BFSI, and others. By country, the market has been segmented as Saudi Arabia, Israel, UAE, and Others.