In a recent published report, Kenneth Research has updated the market report for Enterprise Video Conferencing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Enterprise Video Conferencing Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global Enterprise Video Conferencing Market Overview
The culture of business and environment has been dramatically changed in the past few years. Presence of digitization and visual data sharing technology changes the business and shaping it in a new a way to achieve desired goals. Today the world is heading towards globalization, multinational enterprises are shifting towards video conferences and meetings in order to obtain effective results and decisions from off-shore branches. These factors flourish the culture of the business which helps to enhance the productivity of the business.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
The video conferencing solutions help the organizations to achieve the desired goals by discussing the strategies and providing trainings over video conferences to enhance the business output. And, the enterprise video conferencing market has grown up significantly due to introduction of web-based technology with fewer complications by the IT sector. These factors will help the enterprise to expand and operate their business efficiently from the remote locations.
Market size and forecast
The global enterprise video conferencing market is expected to reach USD 7.94 Billion by 2023 from USD 3.85 Billion in 2015 and it is expected to expand at a CAGR of 7.44%% over the forecast period i.e. 2015-2023. Rising adoption of video conferencing facilities in healthcare and education sectors across the globe has strengthened the demand for enterprise video conferencing.
The North-America market accounted for the largest revenue share of 38.14% in 2014 in overall enterprise video conferencing market across the globe and it is expected to maintain its dominance in the near future. Rising adoption of video conferencing facilities in corporate enterprises are expected to drive the market of enterprise video conferencing across North-America in near future.
Further, market of enterprise video conferencing is expected to register a CAGR of 9.2% in the Asia-Pacific region during the forecast period i.e. 2015-2023. Moreover, expansion of business by national and multinational organizations in developing countries of Asia-Pacific region such as India are likely to improve facilities of video conferencing in order to carry out off-shore meetings in Asia Pacific region. Whereas, presence of huge economic and IT sector in China which have latest and updated technology are likely to impact positively on the growth of enterprise video conferencing market over the forecast period of 2015-2023.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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Key Players
The key players of enterprise video conferencing market across the globe as follows:
Cisco Systems
Company Overview
Key Product Offerings
Business Strategy
SWOT Analysis
Financials
Microsoft Corporation
Avaya, Inc.
Adobe Systems
ZTE Corporation
Lifesize
BT Conferencing
NTT Communications Corporation
Visions Connected Netherlands BV
Level 3 Communications, LLC
Singtel Optus Pty Limited.
Market Segmentation
Global Enterprise Video Conferencing Market is segmented as follows:
Analysis By Deployment Type
On-Premise Video Conferencing
Managed Video Conferencing
Cloud-based Video Conferencing
Analysis By End-User
Corporate Enterprise
Healthcare
Educational Institutions
Government and Defense
By Region
Global Enterprise Video Conferencing Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Growth Drivers and challenges
The improvement in productivity among the workforce of the enterprises through video conferences and meeting is expected to trigger the market for enterprise video conferencing during the forecast period i.e. 2015-2023. There is a continuous expansion of internet-based services to enhance the video conferencing quality and introduction of fast internet networks such as 4G has intensified the demand for enterprise video conferencing over the past few years. Moreover, rising popularity of managed video conferencing and cloud based conferencing as well as enhanced video-interfaces are some of the key factors which will further propel the market growth of enterprise video conferencing globally in future.
However, increasing facilities of communication and installation of internet based devices in educational institutes are expected to grow the demand for enterprise video conferencing across the globe. Another major factor driving the growth of enterprise video conferencing market is increase in penetration of applications of video conferencing in healthcare sectors. Flexibility of working through remote locations, reduction in capital expenditures, owing of powerful tools for communication and growing need for effective communication purposes in corporate enterprise are believed to be the major drivers for the enterprise video conferencing market over the forecast period 2015-2023.
Introduction of cloud-based video conferences and high-end technology video interfaces are likely to fuel the growth for enterprise video conferencing market in the near future. The need for better and cost-effective technology for communication purposes has increased in past few years by the multinational organizations which are looking to expand their business across the globe. Apart from this, the security in the sector of communication plays a crucial role in order to maintain confidentiality of the video conferences and communication.
The lack of security in communication and rising unethical activities such as hacking are expected to hinder the growth for enterprise video conferencing market globally. High cost of video conferencing equipment and lack of communication technology in rural regions is likely to have connectivity issues and deficient of latest technology equipment in the region. These factors are expected to retrain the growth of enterprise video conferencing market across the globe.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Download Sample of This Strategic Report:
https://www.kennethresearch.com/sample-request-10075330
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