SAN FRANCISCO, Aug. 1, 2021 /PRNewswire/ -- Nathan Sassover, CEO
of WRLD1 / TVNET today announced further development and increased
strategic presence with the creation of 2 Business and Social Chat
Networks targeting the continuing surging usage of these venues
across all enterprise and social sectors with North America and all international
territories.
VdeoChat.com | VDEOCALL.com
Business
* Social Chat Networks
WRLD1 and its TV venues are powered by the TVNET APTVE mobile
netcast architecture and user interface driving an enlarged range
of global business and social chat platforms
Sassover further noted: "The VdeoChat and VDEOCALL chat
hubs now provide increased Guide to optimal resources and alliances
to facilitate seamless and unburdened access with range of features
and options that truly enlarge the usage framework across 2 on air
networks:
■ VdeoChat.com | Video Chat Network
■ VDEOCALL.com | Video Call Network
The WRLD1 VdeoChat and VDEOCALL hubs and all other
TVNET categories of geocentric and key industry vertical networks
will continue to be resources for AI development that permit more
targeted enhanced features and best in class services, alliances
and tech providers.
Sassover noted: "The challenges are balance and engaging range
of content within our video display innovations and to optimize
video viewing within the content 'window' to each local, regional
or world VdeoChat / VDEOCALL hubs and beyond which link to other
WRLD1 destinations on the platform."
Contact:
Lauren Holt
News@WRLD1.com
Current Global Analysis:2021 -2028 as Guides to market scope and
usage projections for video chat/call based services
■ VDEOChat.com | VDEOCall.com
Global Research Data and Usage Trends
Video Conferencing Market Size, Share & Trends Analysis
Report By Component (Hardware, Software, Service), By Deployment,
By Enterprise Size, By Application, By End Use, By Region, And
Segment Forecasts, 2021 - 2028
- Published Date: Jun, 2021
Report Overview
The global video conferencing market
size was valued at USD 4.21 billion
in 2020 and is expected to expand at a compound annual growth rate
(CAGR) of 11.4% from 2021 to 2028. Factors such as the
globalization of businesses, geographically scattered operations,
and the rising adoption of remote working models are expected to
drive market growth over the forecast period. The rapid adoption of
video conferencing solutions in the field of telemedicjne and
education sectors is also anticipated to play a pivotal role in the
growth of the market. Furthermore, lockdowns implemented amid the
COVID-19 pandemic globally have resulted in a massive rise in
demand for video conferencing and teleconferencing solutions as
businesses and individuals sought ways of remaining connected.
■The sudden shift of several businesses to the remote working
model created an exponential demand for cloud conferencing software
and services. Applications such as Zoom and Microsoft Teams have
witnessed exponential growth during the first half of 2020. Despite
the vast growth witnessed by the software segment, the overall
market growth suffered in 2020 due to a decline in the demand for
video conferencing hardware and related peripherals.
In the hardware segment, the demand for enterprise endpoints was
impacted negatively due to the temporary closure of organizations
and other industries. This, in turn, resulted in a significant rise
in demand for consumer hardware and headsets.
Moreover, the increased use of cloud-based video conferencing
solutions has given organizations access to vast amounts of data
about video meeting habits. The use of conferencing platforms
integrated with AI allowing companies to optimize the use of the
collaboration platform and increase the efficiency of meetings by
deploying virtual assistants and facial recognition technology.
(AI) in conferencing solutions has enabled organizations to gain
insights about aspects such as the optimal length of a meeting, the
ideal number of participants, and the best time of the day to hold
a meeting. Additionally, developments in the field of voice
recognition are helping enterprises analyze the content of
meetings, draw a comparative analysis between meetings in an
organization, and make suggestions regarding connections among
people with complementary skills.
The growing need for effective enterprise communication and
large-scale investment by various organizations for modernizing
communication networks are expected to propel the market. Rising
mobility requirements of remote workers and workforces are driving
the need for mobile devices, which has amplified the use of
conferencing solutions among consumers. Conferencing and
collaboration solutions, along with advanced hardware, have become
an integral part of a range of businesses for delivering
next-generation communication capabilities.
Component Insights
The hardware segment dominated the
market in 2020 with a revenue share of over 47%. The growth can be
attributed to the increasing development and adoption of endpoints
such as laptops, smartphones, and desktops equipped with
high-resolution cameras, microphones, and speakers. As several
organizations have implemented the work from home model in 2020,
there has been a decline in the demand for and investments in
enterprise-based hardware. This trend has also led companies to
invest more in individual products rather than enterprise
hardware.
The hardware segment is further segmented into cameras and
microphones/headphones. The microphones/headphones segment
witnessed sudden growth in 2020 due to the need for effective
communication and the deployment of the work from home model. The
rapid adoption of software-based communications and collaboration
solutions amid the pandemic, such as Zoom videoconferencing and
Microsoft Teams, has escalated the growth of the headphones
segment. Latest advancements in the field of Internet of IoT and
AR/VR have resulted in the development of headsets with
upgraded features by providing enhanced interconnectivity across
devices. This is also expected to work in favor of the segment
growth over the next few years.
Deployment Insights
The on-premise segment dominated
the video conferencing market in 2020 by capturing a revenue share
of over 59%. This can be attributed to the increasing adoption of
on-premise deployment by large organizations in response to the
growing concerns regarding data theft and effective maintenance of
information security systems. However, the segment is expected to
witness slow growth over the forecast period owing to the growing
prominence of cloud-based solutions. In response to this trend,
companies have also started moving to the cloud revenue generation
model. For instance, Avaya, Inc. transformed its revenue generation
model from legacy on-premise to cloud.
The cloud segment is estimated to witness exceptional growth
over the next few years. These solutions offer increased
accessibility to the end-users by allowing easy access to video
conferencing services through multiple channels, such as
laptops and mobile devices. Furthermore, service providers are
emphasizing the adoption of a Software as a Service (SaaS) platform
for the provision of video conferencing services, which has
attracted a large number of small- and medium-scale enterprises.
Moreover, the development of better encrypted and
password-protected cloud solutions is expected to drive the growth
of the segment.
Enterprise Size Insights
The large enterprises segment
captured a revenue share of over 77% in 2020. Large enterprises are
the primary clientele of video conferencing services as they need
reliable and secure conferencing solutions. Large enterprises focus
on corporate network performance, keeping tight integration with
emerging technologies such as SD-WAN. Catering to the needs of
multi-regional and multinational enterprises, service providers are
focusing on improving video conferencing solutions with enhanced
offerings such as business process integration and centralized
provisioning and service management.
The Small and Medium Enterprises (SMEs) segment is expected to
provide lucrative opportunities to key players over the next few
years. SMEs are realizing the benefits of collaboration and
conferencing, especially due to the COVID-19 pandemic. Several key
market players are developing strategies for this segment to gain a
competitive advantage. For instance, Plantronics, Inc. redeveloped
the QDX 6000, an SD video conferencing system for the Asian market,
which is suitable for small and medium-sized meeting rooms.
Application Insights
The enterprise segment dominated
the market in 2020 by capturing a revenue share of over 84%.
Conference video endpoints are room-based hardware solutions that
are fixed, installed, and configured in meeting rooms and
boardrooms. These are all-in-one systems that do not require
additional hardware or software, as the codec communicates with
other endpoints and transfers video signals and data. Before the
COVID-19 pandemic, the growth prospects of enterprise-based video
conferencing solutions were estimated to be robust, based on
increased adoption in enterprise conferencing as a mode for
communication and collaboration among workers.
However, the pandemic has led to increased purchases of
consumer-grade devices and solutions. The growing demand had
encouraged market players to capitalize on the opportunity by
adding enhanced features to their solutions. Solution providers
such as Logitech are offering a range of both in-office and
portable webcams and Word from Home (WFH) headsets in anticipation
of the current and potential future increase in demand.
End-use Insights
The corporate segment dominated the
market in 2020 and acquired a revenue share of over 28%. The growth
can be attributed to the rapid advancement of the cloud-based
communication and collaboration software industry, opening up the
market for new players. The continuous growth in the number of
remote or geographically dispersed teams has encouraged the larger
use of cloud-based platforms for seamless data sharing,
collaborating, and communicating. Team communication and
collaboration software enable remote teams to streamline business
processes, manage projects of all sizes, and boost productivity
across the organization.
The government and defense sector is another promising sector
expected to witness increased adoption in the forthcoming years.
Public sector companies are implementing conferencing solutions to
improve efficiency and productivity, especially during the
pandemic. These solutions are helping government organizations in
engaging more people and faster decision-making. Moreover, the
growing demand for video conferencing in the sector owing to
distributed governments is further driving the growth of the
segment. Cloud-based solutions are expected to witness an increased
demand in the government sector as governments globally are
prioritizing control over cost, moving away from aging telecom
equipment, and seeking improved connectivity with their mobile
workforce.
Regional Insights
North
America dominated the market for video conferencing in 2020
and acquired a revenue share of over 39%. The regional market is
mature in terms of the adoption of video conferencing solutions.
However, growth opportunity lies in the region for upgrades to
existing equipment and subscription of cloud-based services.
Increased demand for continuous access to high-quality internet and
visual meetings is expected to contribute to regional growth. The
presence of several key players, coupled with the growing
popularity of Bring Your Own Device (BYOD) solutions, which has
resulted in the large-scale adoption of webcams and headphones, is
further expected to drive market growth.
The Asia Pacific regional
market is expected to witness the fastest growth over the forecast
period. Although the business communities and governments in the
region were already encouraging work style innovation prior to the
COVID-19 pandemic; the pandemic acted as a catalyst for developing
high-quality internet infrastructure in the region enabling people
to work remotely. The sudden shift to the remote working model has
increased the demand for collaboration tools, video conferencing
equipment, and accessories, thereby boosting the market growth in
the region. Furthermore, advancements in mobile broadband
technologies, such as High-Speed Downlink Packed-Access (HSDPA)
networks and WiMAX, in countries such as India and Japan, are expected to accelerate the growth
of the regional market.
Key Companies & Market Share Insights
The COVID-19
pandemic has encouraged market players to restructure their
business strategies and operations. Market players are investing
heavily in cloud-based solutions to address the need for creating a
digital workplace for remote employees. Furthermore, owing to the
accelerated demand, several companies have started diversifying
their solutions. For instance, owing to the considerable surge in
the number of remote workers globally, Zoom Video Communications,
Inc. has entered the hardware market. In July 2020, Zoom announced the launch of its
hardware devices category. The first device launched in the
category was Zoom for Home - DTEN ME, an all-in-one personal
collaboration device for remote workers.
Partnerships, mergers and acquisitions, and collaborations are
some other strategies adopted by leading players to remain
competitive. In October 2020, Cisco
Systems, Inc. acquired BabbleLabs to improve the functionality of
the Cisco WebEx Platform via speech enhancement and noise removal
technology. This has aided the organization to improve its
conferencing and communications applications and raise the quality
of its video meeting experience. An increased focus of businesses
on reducing communication costs has created a major opportunity for
industry players, subsequently leading to the development of
advanced conferencing solutions and services, like telepresence and
webcasts. Some of the prominent players operating in the global
video conferencing market are:
- Avaya, Inc.
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Logitech International S.A.
- Microsoft Corporation
- Polycom Inc.
- Zoom Video Communications, Inc.
Video Conferencing
Market Report Scope
|
Report
Attribute
|
Details
|
Market size value in
2021
|
USD 4.66
billion
|
Revenue forecast in
2028
|
USD 9.95
billion
|
Growth
rate
|
CAGR of 11.4% from
2021 to 2028
|
Base year for
estimation
|
2020
|
Historical
data
|
2017 -
2019
|
Forecast
period
|
2021 -
2028
|
Quantitative
units
|
Revenue in USD
million and CAGR from 2021 to 2028
|
Report
coverage
|
Revenue forecast,
company ranking, competitive landscape, growth
factors, and trends
|
Segments
covered
|
Component,
deployment, enterprise size, application, end use,
region
|
Regional
scope
|
North America;
Europe; Asia Pacific; Latin America; MEA
|
Country
scope
|
U.S.; Canada; U.K.;
Germany; China; India; Japan; Brazil
|
Key companies
profiled
|
Avaya, Inc.; Cisco
Systems, Inc.; Microsoft Corporation;
Plantronics, Inc.; Zoom Video Communications, Inc.; Huawei
Technologies Co., Ltd; Polycom Inc.
|
Customization
scope
|
|
|
|
Segments Covered in the Report
This report forecasts
revenue growth at global, regional, and country levels and provides
an analysis of the latest industry trends in each of the
sub-segments from 2017 to 2028 has been segmented within
global video conferencing markets.
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SOURCE TVNET Inc