The Saudi Arabia video conferencing software market is estimated to grow at a CAGR of 15.79% to reach a market size of US$9.888 million in 2027 from US$3.544 million in 2020.
With the use of video conferencing technology, firms can boost collaboration, learning and development, information sharing, client and employee engagement, team productivity in various time zones around the world, and marketing efforts. A cloud-based video conferencing solution is becoming more and more popular among businesses and SMEs since it offers flexibility and reliability for internal company processes. Additionally, the future of the video conferencing market will be greatly impacted by the incorporation of cutting-edge technologies. The trend toward remote work geographically dispersed business activities, and growing globalization are the main drivers of this rise.
Rising government efforts to increase business activities in the country are also a driving factor for the growth of the video conferencing software market in the country, as offices of MNCs in Saudi Arabia would require a video conferencing platform to have virtual meetings with offices in other countries. The country has implemented reforms in eight doing business areas and was ranked 62nd globally in ease of doing business rankings for 2019, with an overall score of 71.6 out of 100. The government also lifted the ban on calls made through online apps such as Whatsapp and Skype, while closely monitoring such calls, in 2017 as a part of its economic reforms to help boost business activities while diversifying the economy in response to fluctuating oil prices. Growing awareness of online education is also boosting the demand for video conferencing software in the country. However, growing privacy and security concerns are still hampering the market growth of video conferencing software in Saudi Arabia.
Based on deployment, the market is divided into two groups: cloud-based and on-premise. On-premises sales are expected to generate the majority of the market revenue. Major corporations employing on-premise solutions to address maintenance difficulties with data security management & information security concerns should be credited for the rise. The cloud is expected to grow the quickest. This is due to the growing popularity of cloud-based software applications that provide password-protected and encrypted communication.
The Saudi Arabia Video Conferencing Software market has been segmented based on the deployment model, enterprise size, and industry vertical. By deployment model, the market has been segmented as on-premise and cloud. By enterprise size, the Saudi Arabia 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.
Recent Development and expansions
The COVID-19 pandemic outbreak has impacted the video conferencing software market growth in Saudi Arabia. The lockdown and the growing need to work, learn, and socialize from home have led to a significant rise in the use of online applications and video conferencing platforms including WebEx, Skype, and Zoom in Saudi Arabia. Recently, leaders from the Group of 20 major economies discussed the coronavirus pandemic and developed an action plan to respond to the deadly outbreak on a video conference.
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. Saudi Arabia Video Conferencing Software Market Analysis, By Deployment Model
6. Saudi Arabia Video Conferencing Software Market Analysis, By Enterprise Size
7. Saudi Arabia Video Conferencing Software Market Analysis, By Industry Vertical
7.3. Communication and Technology
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Microsoft Corporation
9.3. LogMein Inc.
9.5. TeamViewer Group
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.