Video Conferencing Market to be Worth $19.73 Billion by 2030: Grand View Research, Inc.

Get more Insights from 171-page market research report, "Video Conferencing Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Deployment (On-premise, Cloud), By Enterprise Size, By Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Video Conferencing Market Growth & Trends

The global outbreak of the COVID-19 pandemic forced several organizations to implement remote working, which created a significant demand for video conferencing software and applications such as Google Meet, Zoom, and Microsoft Teams. These applications are now playing a major role in facilitating employee collaboration and accelerating digital transformation. The heightened demand for these solutions is urging the market players to offer products with enhanced and distinguished features to gain a strong foothold. In 2020, Google LLC made its video meeting tool Google Meet generally available to remain competitive. The tool reportedly had more than 100 million meeting participants during that year.

Besides business communication, video conferencing technology is also gaining momentum for social interaction. The growing need to set up an affordable, flexible, and scalable communication network for effective team collaboration, communication, and decision-making capability will positively influence the industry statistics over the upcoming years.

The industry is also witnessing substantial growth in the healthcare sector due to the emerging trend of telehealth across the globe. The emergence of the pandemic drastically increased the adoption of telehealth solutions. According to a study conducted in 2020, telehealth usage during the initial pandemic period increased from around 1% to as high as 80% across the areas where coronavirus was highly prevalent.

Video Conferencing Market Segmentation

Grand View Research has segmented the global video conferencing market based on component, deployment, enterprise size, application, end-use, and region:

Video Conferencing Market - Component Outlook (Revenue, USD Million, 2018 - 2030)

Video Conferencing Market - Deployment Outlook (Revenue, USD Million, 2018 - 2030)

Video Conferencing Market - Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

Video Conferencing Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

Video Conferencing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

Video Conferencing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

List of Key Players of Video Conferencing Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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