United Kingdom video conferencing software market was valued at US$378.686 million in 2020. The market is projected to grow at a CAGR of 19.89% to reach a value of US$1,348.151 million by 2027.
The presence of a large number of MNCs in the country is significantly boosting the adoption of video conferencing solutions which is bolstering the video conferencing software market growth in the country. The growing demand for part-time education in the UK is another major driver of video conferencing software in the country. Rising investment in online learning solutions is also contributing to the increasing demand for video conferencing software in the UK. Many UK universities are testing opportunities offered by digital learning and massive open online courses (MOOCs) which is attracting many companies to expand their customer base in the country. For example, in April 2019, SEEK Group announced to investment of £50 million to become a 50 percent owner of the Open University’s FututreLearn social learning platform.
The recent COVID-19 pandemic outbreak has resulted in a sudden rise in the revenue of video conferencing software market players in the country. With social distancing and work from home rules in the UK, the demand for video conferencing solutions has boosted across various industry verticals including government and healthcare. The British government is using the Zoom video conferencing solution for Cabinet meetings. Family doctors in the country are turning to online consultation services like AccuEx and eConsult to see patients virtually in order to prevent the spread of the virus.
The United Kingdom 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 United Kingdom 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.
The growth of remote learning tools, the move toward live learning sessions via video conferencing in schools and universities across the U.K., along with the shift of the corporate sector and business to a remote working model as a result of the Covid-19 outbreak, all contributed to a significant increase in revenues in the United Kingdom video conferencing market in the previous years. The need for video conferencing solutions has increased across many sector verticals, including government and healthcare, as a result of social distance and restrictions on working from home in the UK. Zoom video conferencing technology is being used by the British government for Cabinet sessions. In an effort to stop the virus from spreading, family doctors throughout the nation are using online consultation services like AccuEx and eConsult to visit patients electronically.
Key Market Segmentation
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. United Kingdom Video Conferencing Software Market Analysis, By Deployment Model
6. United Kingdom Video Conferencing Software Market Analysis, By Enterprise Size
7. United Kingdom 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. Zoom Video Communications, Inc.
9.3. Microsoft Corporation
9.5. LogMeIn, Inc.
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