The North America Video Conferencing Market is poised for significant growth between 2020 and 2027, driven by the increasing adoption of video conferencing solutions across various sectors, particularly in corporate enterprises. According to the market research study, the market is expected to grow from US2,029.8millionin2019toUS2,029.8millionin2019toUS 3,180.3 million by 2027, reflecting a compound annual growth rate (CAGR) of 5.2% during the forecast period.
Key Drivers and Restraints
Drivers:
- Corporate Sector Adoption: The corporate enterprise segment, which includes technology companies, support service providers, and BPOs/KPOs, is heavily investing in virtual meeting rooms equipped with audiovisual technologies to enhance productivity and improve the working environment.
- Cloud Technology Developments: Advances in cloud technology are fueling demand for video conferencing products enabled with this technology.
- Healthcare Sector Modernization: The healthcare sector is rapidly adopting video conferencing for virtual consultations, webinars, and seminars, driven by the need to treat patients remotely and improve healthcare practices.
Restraints:
- Weak Network Infrastructure: In various developing countries, inadequate network infrastructure remains a significant challenge for the video conferencing market.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00012808
Market Segmentation
By Type:
- Hardware: The hardware segment dominated the market in 2019. Hardware providers are crucial in supporting market growth by delivering robust technology products.
- Software: Software developers are continuously upgrading existing software with new features, attracting a significant percentage of end users.
- Services: There is extraordinary demand for services, including continuous consultation, educational services, and maintenance.
By Deployment:
- On-Premise
- Cloud
- Hybrid
By Industry Vertical:
- Corporate Enterprise
- Government & Defense
- Healthcare
- Education
- Manufacturing
- Others
By Country:
- US
- Canada
- Mexico
Key Players
Several key players are operating in the North America Video Conferencing Market, including:
- Adobe Systems Inc.
- Zoom
- Avaya Inc.
- Cisco Systems Inc.
- Google LLC
- Huawei Technologies, Ltd.
- Lifesize Inc.
- Microsoft Corporation
- Polycom Inc.
- ZTE Corporation
Conclusion
The North America Video Conferencing Market is set to experience robust growth, driven by the corporate sector’s adoption of advanced audiovisual technologies and the modernization of healthcare practices. Despite challenges such as weak network infrastructure in some regions, the market is expected to thrive, supported by continuous innovation and the increasing demand for cloud-enabled video conferencing solutions.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights
Author: Abhishek waydande
hi i am akshay
