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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.
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.
How big is the video conferencing market?
The market size of video conferencing crossed USD 25 billion in 2022 and is poised to depict over 10% CAGR from 2023 to 2032.
Why is the telepresence segment witnessing remarkable growth?
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.
What factors are driving the Asia Pacific video conferencing market?
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.
which companies provide video conferencing solutions?
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.