The Global Video Conferencing Components Market size was valued at around USD 9.33 billion in 2023 and is estimated to grow at a CAGR of about 9.5% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Video Conferencing Components Market Driver:
Increasing Demand for Webinars & Online Events – The video conferencing industry is primarily fueled by the growing demand for webinars and online events. For several reasons, webinars and online events are becoming more common in a variety of industries, and video conferencing technology is essential to making these virtual meetings possible. Webinars and virtual gatherings provide enterprises with an economical and effective means of reaching a sizable audience. Conventional live events include substantial financial outlays for the rental of a location, travel costs, and planning. Businesses may hold virtual events with low overhead expenses by utilizing video conferencing services, which makes them a desirable choice for networking, training, and marketing initiatives.
Moreover, video conferencing technology is also becoming more widely used as businesses look for creative ways to interact with their audience, share material, and work remotely. This is due to the growing demand for webinars and online events. With suppliers creating cutting-edge features and solutions to satisfy the changing needs of both enterprises and consumers, it is anticipated that the size & volume of the video conferencing industry will increase as the trend toward virtual events continues to gain momentum.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Video Conferencing Components Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Component
- Hardware
- Camera
- Microphone/Headphone
- Others
- Software
- Services
- Professional services
- Managed services
- Hardware
- By Deployment
- On Premise
- Cloud
- By Application
- Consumer
- Enterprise
- Corporate Communications
- Learning & Development
- Client Management
- Others (Marketing, Admin, etc.)
- By End-Users
- IT/ITeS
- Banking Finance Services & Insurance (BFSI)
- Education
- Healthcare
- Government & Defence
- Media & Entertainment
- Education Institutes
- Others
- By Region
- North America
- Latin America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Adobe Inc., AURA Presence, LLC., Avaya Inc., AWS, Cisco Systems, Inc., Google, HP, Huawei Technologies Co., Ltd., Logitech International S.A, LumenVox LLC, Microsoft Corporation, Plantronics, Inc., Vidyo, Inc, West Corporation (Intrado Corporation) Zoom Video Communications, Inc., Others. are looking forward to strengthening their market positions.
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Global Video Conferencing Components Industry Recent Development:
In October 2022: Logitech International S.A. introduced an artificial intelligence (AI)-powered tabletop camera, Logitech Sight, to make hybrid work meetings more equitable for remote workers. The new camera seeks to offer an “at the table” experience to remote participants attending conferences with their in-office colleagues.
In January 2022: Cisco teamed up with Lockheed Martin and Amazon to incorporate novel human-machine interface technologies, allowing future astronauts to benefit from tablet-based video communication, AI, and far-field speech technology.
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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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