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Video Conferencing Market Size

Report ID: GMI3003
Published Date: Dec 2022
Report Format: PDF

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Video Conferencing Market Size

Video Conferencing Market size valued at USD 25 billion in 2022 and is set to register over 10% CAGR from 2023 to 2032. Growing focus on IT infrastructure development in developing economies will drive market growth.

Video Conferencing Market

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Many industry players are focusing on the integration of advanced technologies such as AI, machine learning, and IoT in video conferencing apps. Offering additional benefits and features such as facial recognition, audio-video quality, virtual background, automated note-taking, and active noise cancellation, to enhance their capabilities, positively affecting the industry outlook.

Video Conferencing Market Report Attributes
Report Attribute	Details
Base Year:	2022
Video Conferencing Market Size in 2022:	USD 25 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10%
2032 Value Projection:	USD 95 billion
Historical Data for:	2018 to 2022
No. of Pages:	300
Tables, Charts & Figures:	409
Segments covered:	Component, Type, Application, Region
Growth Drivers:	Growing demand for unified communication in the U.S. and Europe Increasing trend of work from home and online learning globally Demand for high-speed communication infrastructure in Asia Pacific Increasing trend for cloud applications in Latin America Rising need to reduce communication cost among organizations
Pitfalls & Challenges:	Cost & complexity of solutions Volatile competitive landscape

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of video conferencing crossed USD 25 billion in 2022 and is poised to depict over 10% CAGR from 2023 to 2032.

The telepresence type segment is slated to surpass USD 30 billion by 2032, driven by the ability of telepresence tools to emulate a physical meeting room and rising demand for immersive virtual co-working and collaboration solutions.

Asia Pacific market is expected to grow at around 15% growth rate through 2032, on account of progressive government efforts in the region to improve upon their respective communication and Internet infrastructure.

Some key contenders partaking in the global market include, Avaya Inc., Adobe Systems Incorporated, Cisco Systems, Inc., Microsoft Corporation, Google LLC, Zoom Video Communications, Inc., Huawei Technologies Co. Ltd., BlueJeans, among others.