Report : Europe Video Conferencing Market Forecast to 2027 - COVID-19 Impact and Regional 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 Europe Video Conferencing Market during 2020–2027
According to The Insight Partners market research study on “Europe Video Conferencing Market Forecast to 2027– Covid-19 Impact and Analysis by type, deployment, industry, and country” is expected to reach US$ 3727.8 Mn by 2027 from US$ 1,653.8 Mn in 2019. The market is estimated to grow at a CAGR of 10.1 % from 2020 to 2027.The report provides trends prevailing in the Europe Video Conferencing Market along with the drivers and restraints pertaining to the market growth. The growth of the Europe 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 Europe 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 video conferencing market ecosystem comprises of hardware providers, software providers, and service providers. The companies such as Zoom, Crestron Mercury, Polycom RealPresence, Lifesize, and others. These companies offer various hardware solutions like microphones, speakers, wide-angle cameras, and others exclusively for video conferencing. The software providers enable communication between two or more people. The prominent players offering video conferencing software are Zoom, Google, and Cisco, among others. Vendors are highly focused on offering software with advanced features such as video recording, adding notes, and others. The service providers play a key role in the ecosystem by offering services such as implementation service, deployment service, training service, maintenance service, and others. The end-users of video conferencing solution are various corporate companies, healthcare sector, educational sector, government sector, and others
Europe Video Conferencing Market SegmentationEurope Video Conferencing Market – By Type
Europe Video Conferencing Market – By Country