WRLD1 / TVNET integrates its VdeoChat and VDEOCALL group of networks across North America and the 8 regions of the world with 2 worldwide targeted brands directed to both enterprise video conferencing
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SAN FRANCISCO, Aug. 1, 2021 /PRNewswire/ -- Nathan Sassover, CEO of WRLD1 / TVNET today announced further development and increased strategic presence with the creation of 2 Business and Social Chat Networks targeting the continuing surging usage of these venues across all enterprise and social sectors with North America and all international territories.
VdeoChat.com | VDEOCALL.comBusiness * Social Chat Networks
WRLD1 and its TV venues are powered by the TVNET APTVE mobile netcast architecture and user interface driving an enlarged range of global business and social chat platforms
Sassover further noted: "The VdeoChat and VDEOCALL chat hubs now provide increased Guide to optimal resources and alliances to facilitate seamless and unburdened access with range of features and options that truly enlarge the usage framework across 2 on air networks:
■ VdeoChat.com | Video Chat Network
The WRLD1 VdeoChat and VDEOCALL hubs and all other TVNET categories of geocentric and key industry vertical networks will continue to be resources for AI development that permit more targeted enhanced features and best in class services, alliances and tech providers.
Sassover noted: "The challenges are balance and engaging range of content within our video display innovations and to optimize video viewing within the content 'window' to each local, regional or world VdeoChat / VDEOCALL hubs and beyond which link to other WRLD1 destinations on the platform."
Current Global Analysis:2021 -2028 as Guides to market scope and usage projections for video chat/call based services
■ VDEOChat.com | VDEOCall.comGlobal Research Data and Usage Trends
Video Conferencing Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By Deployment, By Enterprise Size, By Application, By End Use, By Region, And Segment Forecasts, 2021 - 2028
- Published Date: Jun, 2021
Report OverviewThe global video conferencing market size was valued at USD 4.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.4% from 2021 to 2028. Factors such as the globalization of businesses, geographically scattered operations, and the rising adoption of remote working models are expected to drive market growth over the forecast period. The rapid adoption of video conferencing solutions in the field of telemedicjne and education sectors is also anticipated to play a pivotal role in the growth of the market. Furthermore, lockdowns implemented amid the COVID-19 pandemic globally have resulted in a massive rise in demand for video conferencing and teleconferencing solutions as businesses and individuals sought ways of remaining connected.
■The sudden shift of several businesses to the remote working model created an exponential demand for cloud conferencing software and services. Applications such as Zoom and Microsoft Teams have witnessed exponential growth during the first half of 2020. Despite the vast growth witnessed by the software segment, the overall market growth suffered in 2020 due to a decline in the demand for video conferencing hardware and related peripherals.
In the hardware segment, the demand for enterprise endpoints was impacted negatively due to the temporary closure of organizations and other industries. This, in turn, resulted in a significant rise in demand for consumer hardware and headsets.
Moreover, the increased use of cloud-based video conferencing solutions has given organizations access to vast amounts of data about video meeting habits. The use of conferencing platforms integrated with AI allowing companies to optimize the use of the collaboration platform and increase the efficiency of meetings by deploying virtual assistants and facial recognition technology.
(AI) in conferencing solutions has enabled organizations to gain insights about aspects such as the optimal length of a meeting, the ideal number of participants, and the best time of the day to hold a meeting. Additionally, developments in the field of voice recognition are helping enterprises analyze the content of meetings, draw a comparative analysis between meetings in an organization, and make suggestions regarding connections among people with complementary skills.
The growing need for effective enterprise communication and large-scale investment by various organizations for modernizing communication networks are expected to propel the market. Rising mobility requirements of remote workers and workforces are driving the need for mobile devices, which has amplified the use of conferencing solutions among consumers. Conferencing and collaboration solutions, along with advanced hardware, have become an integral part of a range of businesses for delivering next-generation communication capabilities.
Component InsightsThe hardware segment dominated the market in 2020 with a revenue share of over 47%. The growth can be attributed to the increasing development and adoption of endpoints such as laptops, smartphones, and desktops equipped with high-resolution cameras, microphones, and speakers. As several organizations have implemented the work from home model in 2020, there has been a decline in the demand for and investments in enterprise-based hardware. This trend has also led companies to invest more in individual products rather than enterprise hardware.
The hardware segment is further segmented into cameras and microphones/headphones. The microphones/headphones segment witnessed sudden growth in 2020 due to the need for effective communication and the deployment of the work from home model. The rapid adoption of software-based communications and collaboration solutions amid the pandemic, such as Zoom videoconferencing and Microsoft Teams, has escalated the growth of the headphones segment. Latest advancements in the field of Internet of IoT and AR/VR have resulted in the development of headsets with upgraded features by providing enhanced interconnectivity across devices. This is also expected to work in favor of the segment growth over the next few years.
Deployment InsightsThe on-premise segment dominated the video conferencing market in 2020 by capturing a revenue share of over 59%. This can be attributed to the increasing adoption of on-premise deployment by large organizations in response to the growing concerns regarding data theft and effective maintenance of information security systems. However, the segment is expected to witness slow growth over the forecast period owing to the growing prominence of cloud-based solutions. In response to this trend, companies have also started moving to the cloud revenue generation model. For instance, Avaya, Inc. transformed its revenue generation model from legacy on-premise to cloud.
The cloud segment is estimated to witness exceptional growth over the next few years. These solutions offer increased accessibility to the end-users by allowing easy access to video conferencing services through multiple channels, such as laptops and mobile devices. Furthermore, service providers are emphasizing the adoption of a Software as a Service (SaaS) platform for the provision of video conferencing services, which has attracted a large number of small- and medium-scale enterprises. Moreover, the development of better encrypted and password-protected cloud solutions is expected to drive the growth of the segment.
Enterprise Size InsightsThe large enterprises segment captured a revenue share of over 77% in 2020. Large enterprises are the primary clientele of video conferencing services as they need reliable and secure conferencing solutions. Large enterprises focus on corporate network performance, keeping tight integration with emerging technologies such as SD-WAN. Catering to the needs of multi-regional and multinational enterprises, service providers are focusing on improving video conferencing solutions with enhanced offerings such as business process integration and centralized provisioning and service management.
The Small and Medium Enterprises (SMEs) segment is expected to provide lucrative opportunities to key players over the next few years. SMEs are realizing the benefits of collaboration and conferencing, especially due to the COVID-19 pandemic. Several key market players are developing strategies for this segment to gain a competitive advantage. For instance, Plantronics, Inc. redeveloped the QDX 6000, an SD video conferencing system for the Asian market, which is suitable for small and medium-sized meeting rooms.
Application InsightsThe enterprise segment dominated the market in 2020 by capturing a revenue share of over 84%. Conference video endpoints are room-based hardware solutions that are fixed, installed, and configured in meeting rooms and boardrooms. These are all-in-one systems that do not require additional hardware or software, as the codec communicates with other endpoints and transfers video signals and data. Before the COVID-19 pandemic, the growth prospects of enterprise-based video conferencing solutions were estimated to be robust, based on increased adoption in enterprise conferencing as a mode for communication and collaboration among workers.
However, the pandemic has led to increased purchases of consumer-grade devices and solutions. The growing demand had encouraged market players to capitalize on the opportunity by adding enhanced features to their solutions. Solution providers such as Logitech are offering a range of both in-office and portable webcams and Word from Home (WFH) headsets in anticipation of the current and potential future increase in demand.
End-use InsightsThe corporate segment dominated the market in 2020 and acquired a revenue share of over 28%. The growth can be attributed to the rapid advancement of the cloud-based communication and collaboration software industry, opening up the market for new players. The continuous growth in the number of remote or geographically dispersed teams has encouraged the larger use of cloud-based platforms for seamless data sharing, collaborating, and communicating. Team communication and collaboration software enable remote teams to streamline business processes, manage projects of all sizes, and boost productivity across the organization.
The government and defense sector is another promising sector expected to witness increased adoption in the forthcoming years. Public sector companies are implementing conferencing solutions to improve efficiency and productivity, especially during the pandemic. These solutions are helping government organizations in engaging more people and faster decision-making. Moreover, the growing demand for video conferencing in the sector owing to distributed governments is further driving the growth of the segment. Cloud-based solutions are expected to witness an increased demand in the government sector as governments globally are prioritizing control over cost, moving away from aging telecom equipment, and seeking improved connectivity with their mobile workforce.
Regional InsightsNorth America dominated the market for video conferencing in 2020 and acquired a revenue share of over 39%. The regional market is mature in terms of the adoption of video conferencing solutions. However, growth opportunity lies in the region for upgrades to existing equipment and subscription of cloud-based services. Increased demand for continuous access to high-quality internet and visual meetings is expected to contribute to regional growth. The presence of several key players, coupled with the growing popularity of Bring Your Own Device (BYOD) solutions, which has resulted in the large-scale adoption of webcams and headphones, is further expected to drive market growth.
The Asia Pacific regional market is expected to witness the fastest growth over the forecast period. Although the business communities and governments in the region were already encouraging work style innovation prior to the COVID-19 pandemic; the pandemic acted as a catalyst for developing high-quality internet infrastructure in the region enabling people to work remotely. The sudden shift to the remote working model has increased the demand for collaboration tools, video conferencing equipment, and accessories, thereby boosting the market growth in the region. Furthermore, advancements in mobile broadband technologies, such as High-Speed Downlink Packed-Access (HSDPA) networks and WiMAX, in countries such as India and Japan, are expected to accelerate the growth of the regional market.
Key Companies & Market Share InsightsThe COVID-19 pandemic has encouraged market players to restructure their business strategies and operations. Market players are investing heavily in cloud-based solutions to address the need for creating a digital workplace for remote employees. Furthermore, owing to the accelerated demand, several companies have started diversifying their solutions. For instance, owing to the considerable surge in the number of remote workers globally, Zoom Video Communications, Inc. has entered the hardware market. In July 2020, Zoom announced the launch of its hardware devices category. The first device launched in the category was Zoom for Home - DTEN ME, an all-in-one personal collaboration device for remote workers.
Partnerships, mergers and acquisitions, and collaborations are some other strategies adopted by leading players to remain competitive. In October 2020, Cisco Systems, Inc. acquired BabbleLabs to improve the functionality of the Cisco WebEx Platform via speech enhancement and noise removal technology. This has aided the organization to improve its conferencing and communications applications and raise the quality of its video meeting experience. An increased focus of businesses on reducing communication costs has created a major opportunity for industry players, subsequently leading to the development of advanced conferencing solutions and services, like telepresence and webcasts. Some of the prominent players operating in the global video conferencing market are:
- Avaya, Inc.
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Logitech International S.A.
- Microsoft Corporation
- Polycom Inc.
- Zoom Video Communications, Inc.
Video Conferencing Market Report Scope
Market size value in 2021
USD 4.66 billion
Revenue forecast in 2028
USD 9.95 billion
CAGR of 11.4% from 2021 to 2028
Base year for estimation
2017 - 2019
2021 - 2028
Revenue in USD million and CAGR from 2021 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Component, deployment, enterprise size, application, end use, region
North America; Europe; Asia Pacific; Latin America; MEA
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil
Key companies profiled
Avaya, Inc.; Cisco Systems, Inc.; Microsoft Corporation; Plantronics, Inc.; Zoom Video Communications, Inc.; Huawei Technologies Co., Ltd; Polycom Inc.
Segments Covered in the ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028 has been segmented within global video conferencing markets.
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SOURCE TVNET Inc
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