Report : Asia Pacific Video Conferencing Market Forecast to 2027- Covid-19 Impact and Analysis- by Type (Hardware, Software, and Services); Deployment (On-premise, Hybrid, and Cloud); Industry Vertical (Corporate Enterprise, Government & Defense, Healthcare, Education, Manufacturing, and Others), and Country
Hardware Segment to Dominate APAC Video Conferencing Market during 2020–2027
According to The Insight Partners market research study on “APAC Video Conferencing Market Forecast to 2027– Covid-19 Impact and Analysis by type, deployment, industry, and country” is expected to reach US$ 3,432.4 Mn by 2027 from US$ 1,383.5 Mn in 2019. The market is estimated to grow at a CAGR of 11.4 % from 2020 to 2027.The report provides trends prevailing in the APAC Video Conferencing Market along with the drivers and restraints pertaining to the market growth. The growth of the APAC Video Conferencing Market is attributed to rising adoption of video conferencing solutions among corporate sector. However, weak network infrastructure in various developing countries remain a key challenge for video conferencing market.
The video conferencing market, by type, is segmented into hardware, software, services. The hardware segment held the largest share of the APAC market in 2019. The hardware providers play a critical role in supporting the video conferencing market growth, by innovating and delivering robust technology products to the clients. The software developers, on the other hand, are continuously focusing on upgrading the existing software with newer features, which is attracting a significant percentage of end users. The service providers are observing extraordinary demand for their services, the end users of video conferencing solutions are demanding for continuous consultation services, educational service, and maintenance services.
Several key players operating in the video conferencing market include Adobe Systems Inc., Zoom, Avaya Inc., Cisco Systems Inc., Google LLC, Huawei Technologies, Ltd., Lifesize Inc., Microsoft Corporation, Polycom Inc., and ZTE Corporation. The major players in the market are focused on growth approached such as mergers and acquisitions, new developments, and strategic business planning to widen their geographic presence and consumer base globally. Few companies are witnessing emerging trends in the rise of video conferencing technologies. For instance, Microsoft announced that the video calls on Teams which competes with other apps such as Zoom and Slack, were up 1,000% in March 2020. Also, Slack has stated that its count of users has been increased to 12.5 Mn on March 2020. This increasing number of users experienced by Microsoft and Slack are majorly driven by spread of COVID-19.
APAC Video Conferencing Market Segmentation
APAC Video Conferencing Market – By Type