The global Video Conferencing Market is estimated to attain USD 8.56 billion, by the end of 2027, and is anticipated to grow at a CAGR of 9.9% over the forecasted period, 2020 to 2027, according to a new report by Million Insights. Increasing demand for video solutions in organizations, educational institutes especially in developing countries is projected to support the market growth. In addition, the growing adoption of 4G service in mobile devices is anticipated to bolster the demand for video conferencing solutions.
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Market Synopsis of Video Conferencing Market:
In Asia Pacific, development in digital infrastructure along with rising penetration internet has increased the need for video conferencing systems. Several telecom operators offer investment for developing video conferencing infrastructure. For example, in 2018, NTT Limited has funded over USD 32.0 million in Highfive, in order to develop video conferencing solution.
In addition, rising trend of online education for medicinal operations especially in countries such as Japan, U.K., U.S, China, and India is boosting the growth of video conferencing market. Moreover, various electronics industry participants such as Siemens, Koninklijke Philips N.V., are partnering with companies in the market to develop these solutions. For example, in 2017, Vidyo Inc, and Koninklijke Philips N.V., have collaborated to develop a telehealth platform called Philips IntelliSpace eCareManager for monitoring patients remotely.
In the light of COVID-19 outbreak, various governments across the globe are providing funds to companies to develop these solutions for remote operation. For example, in the U.S., Ohio Supreme Court has provided funding of around USD 4.0 million for the purchase of video solutions to high courts in April 2020. Furthermore, increasing the need for a remote workforce in hospital management is projected to positively impact on market growth.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Video Conferencing: Market Variables, Trends & Scope
Chapter 4 Video Conferencing: Product Estimates & Trend Analysis
Chapter 5 Video Conferencing: Application Estimates & Trend Analysis
Chapter 6 Video Conferencing: End-use Estimates & Trend Analysis
Chapter 7 Video Conferencing: Industrial End-use Estimates & Trend Analysis
Chapter 8 Video Conferencing: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Video Conferencing: Manufacturers Company Profiles
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