Video Conferencing Market is set to observe 19% CAGR through 2026; Global Market Insights Inc.
Video Conferencing Market is poised to grow with a lucrative CAGR from 2021 to 2027 as digital ecosystems continue to evolve to manage distributed workforces.
Delaware, United States – July 23, 2021 /MarketersMedia/ —
The global video conferencing market revenue will be worth more than US$ 50 billion by 2026. As digital ecosystems continue to evolve, enterprises are increasingly embracing video conferencing technologies to manage their distributed workforces. Recent developments in video conferencing platforms is making online meetings and team collaboration better and easier to manage than ever. In wake of the ongoing COVID-19 pandemic, majority of corporate enterprises are increasingly switching to remote working and online collaboration tools to stop the spread of the virus.
In April 2020, the UK’s Office for National Statistics (ONS) reported that nearly 50% of the workforce across the country is expected to work remotely in the upcoming years. European countries have witnessed one of the highest numbers of coronavirus cases in the world. With nationwide lockdowns in many of these countries, people have been encouraged to work from home, which has resulted in a rapid upsurge in the use of online collaboration tools and conferencing platforms.
Following are some of the major trends propelling the adoption of these platforms in the near future.
• Expansion of telemedicine and teleconsulting
Over the past several years, the healthcare sector has emerged to become a major adopter of video conferencing solutions. With a rising occurrence of chronic diseases, a large geriatric population, and financial constraints in many regions has led to the adoption of telemedicine. Teleconsulting solutions enable healthcare service providers to reach out and serve a greater number of patients remotely.
Video conferencing technologies enable remote treatment of patients and improve the collaboration between healthcare professionals, patients, students, and other affiliated parties. The American Hospital Association revealed in February 2019 that 76% of hospitals in the U.S. connect with patients through video conferencing and other technologies.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
https://www.gminsights.com/request-sample/detail/3003
• Room-based systems to garner momentum
Video conferencing solutions are rapidly gaining popularity in room-based systems. Conventional online meeting rooms are increasingly being replaced by huddle rooms and smaller spaces. Huddle rooms are basically smaller conference workplaces and areas that can usually accommodate up to six participants.
Rapid digital transformation at the workplace and growing use of software-based communications has led to a greater adoption of video conferencing in huddle rooms. These small rooms are typically equipped with video, audio, and display technologies to provide staff with a productive working environment.
• Robust internet infrastructure in Europe
Europe is likely to emerge as a key video conferencing market, mainly on account of a well-established internet infrastructure in the region. Europe has one of the fastest broadband connections in the world, led by Denmark, Luxembourg, and Sweden, with an average speed of more than 40.1 Mbps. Favorable initiatives by the European Commission, including the Europe 2020 strategy to develop an ultra-fast broadband infrastructure and support smart and sustainable growth of the region will boost the adoption of video conferencing solutions.
Regional manufacturers are looking to implement advanced technologies such as 3D, artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) to make remote business operations and team collaborations more convenient and efficient.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights Inc.
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/video-conferencing-market
Source: MarketersMedia
Release ID: 89038277
Copyright © 1999-2013 SproutNews.com
