North America Video Conferencing Software market was valued at US$1,363.330 million in 2019. The presence of multinational companies in the region is the major driver of video conferencing software market in North America. Growing demand for online education and e-learning courses due to continuous increase in tuition fees in countries like the U.S. and Canada is also boosting the market growth of video conferencing software in the region. According to the National Center for Education Statistics, the average cost for a public four-year university for the 2015-16 academic years was just over $19,000 per year while for a private four-year university, the figure was $26,120 per year for the same academic year. The emerging popularity of telepresence across the healthcare sector in North America will continue to bolster the video conferencing software market growth during the next five years. High adoption of cloud computing is a contributing factor to the increasing use of video conferencing software in these countries. Continuous investments made by both public and private organizations in technologies such as artificial intelligence, machine learning, and IoT will also propel the video conferencing software market growth in North America during the next five years.
The recent global COVID-19 outbreak has boosted the demand for video conferencing software in the region. Work-from-home policy due to government lockdown and the need for social distancing is forcing companies to use video conferencing solutions and have virtual meetings. Furthermore, there has been a rise in the demand for video conferencing solutions across schools and colleges which is also fuelling the video conferencing software market growth in the region. B.C. teachers and students are using Zoom video conferencing for remote learning and the COVID-19 crisis. The Ministry of Education of B.C. has recently secured licenses for Zoom services which offer video and audio chatting as well as online meetings for all K-12 public and independent schools.
The North American 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 North American 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 the U.S., Canada, and Mexico.
Segmentation
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