” that offers detailed segmentation of the market based on Component (Hardware, Software, Service), By End Use (Corporate, Education, Healthcare, Government & Defense, BFSI, Media & Entertainment, Others), and Region.
According to the report, The Video Conference Systems Market is estimated to grow from USD 9.3 billion in 2020 to USD 27.6 billion by 2026 at a healthy CAGR of 20.5% during the forecast period.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Covid Impact –
The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market's manufacturing, demand, and distribution network. The Video Conference Systems Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Video Conference Systems Market, is given below -
· Cisco Systems, Inc. (US)
· Polycom, Inc. (US)
· West Unified Communications Services (US)
· Vidyo, Inc. (US)
· Adobe Systems Incorporated (US)
· Microsoft Corporation (US)
· Arkadin International SAS (France)
· Logitech International S.A (Switzerland)
· Orange Business Services (France)
· JOYCE CR, S.R.O. (Czechia)
Based on end-use, the video conference systems market has been classified into corporate, education, healthcare, government & defense, BFSI, media & entertainment, and others. The corporate segment accounted for the largest market share in 2020. This is mainly attributed to the growing development of cloud-based communication & collaboration of the software industry, opening up the market for new players.
By region, the North American Video Conference Systems market accounted for the largest share of almost 40% in 2020 and is expected to grow at a significant CAGR during the review period. The Video Conference Systems market growth is mainly propelled by rising up-gradation to existing equipment and subscription of cloud-based services. Furthermore, the growing demand for continuous access to high-quality internet and visual meetings, further bolstering the regional market growth.
The Asia-Pacific Video Conference Systems market is expected to grow at the highest CAGR of more than 8% during the review period. The pandemic created a strong demand for high-quality internet infrastructure in the region allowing people to work remotely. The radical shift to the remote working model has surged the demand for video conferencing equipment, collaboration tools, and accessories, thereby boosting the regional market growth.
FAQs in the report -
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential Video Conference Systems Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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