Enterprise Video Conferencing Market to be around USD 7.94 Billion by 2023

Enterprise Video Conferencing Market By Research Nester
The global market for enterprise video conferencing has reached USD 3.85 Billion in 2015 and is expected to reach USD 7.94 Billion by the end of 2023, expanding at a compound annual growth rate of 7.44 % between the period 2015-2023.

The enterprise video conferencing market has been segmented by deployment type and end-user into on-premise video conferencing, managed and cloud-based video conferencing, corporate enterprise, healthcare, educational institutions, government and defense services. Based on end-user segment, the corporate enterprise segment is expected to witness robust growth over the forecast period. This can be attributed to rising number of multinational companies and their need for long-distance business meetings. Further, with the advancement in technology, the healthcare segment is anticipated to witness more practice of video conferencing, especially in case of emergencies where the patient is in critical condition and cannot be transferred to other facility. Video conferencing in healthcare can be used for operations and managing health care by doctors from long distance. Furthermore, making the teaching more fun and knowledgeable, the enterprise video conferencing is expected to grow in educational institutions.

The global market for enterprise video conferencing has reached USD 3.85 Billion in 2015 and is expected to reach USD 7.94 Billion by the end of 2023, expanding at a compound annual growth rate of 7.44 % between the period 2015-2023. Factors such as rising adoption of video conferencing facilities in healthcare and educational institutions have strengthened the demand for enterprise video conferencing. Further, the enterprise video conferencing market has grown up significantly due to introduction of web-based technology with fewer complications by the IT sector.In the regional segment, North America market accounted for the largest revenue share of 38.14% in 2014 in overall enterprise video conferencing market across the globe and is expected to maintain its dominance in the near future which can be attributed to rising adoption of video conferencing facilities in corporate sector in the region. Further, market of enterprise video conferencing is expected to register a CAGR of 9.2% in the Asia-Pacific region during the period 2015-2023 owing to expansion of business by national and multinational organizations and IT sector in India and China.

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Cloud-Based Video Conferences to Expand the Market

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. Further, introduction of cloud-based video conferences and high-end technology video interfaces are likely to fuel the growth of enterprise video conferencing market in the near future.However, high cost, rising incidences of unethical hacking and lack of security is likely to inhibit the growth of the enterprise video conferencing market in the near future.The report titled “Enterprise Video Conferencing Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the enterprise video conferencing market in terms of market segmentation by deployment, by end-user and by region.Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the enterprise video conferencing market which includes company profiling of Cisco Systems, 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.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the enterprise video conferencing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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