Latest News- Video Conferencing Market: Hardware is expected to lead the Component segment during 2025-2029

The Video Conferencing Market is being driven by Increasing globalization and need for cross-border communication

The Video Conferencing Market is expected to grow at a CAGR of 12.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8843.8 million. The global video conferencing market is witnessing a notable trend towards the integration of Artificial Intelligence (AI) features. This shift is aimed at augmenting user experience and catering to the evolving communication requirements of businesses and individuals. AI-driven functionalities, such as virtual backgrounds, noise cancellation, and transcription, offer several advantages. Virtual backgrounds enable users to personalize their video conferencing setting, ensuring privacy, professionalism, and branding opportunities. AI-powered noise cancellation technology filters out ambient noise, ensuring clear and uninterrupted communication even in noisy environments, thereby enhancing meeting effectiveness. Transcription services, fueled by AI, automatically convert spoken words into text in real time, facilitating notetaking, accessibility for hearing-impaired participants, and post-meeting documentation. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Hardware
  • Software
  • Services
• End-user
  • Large enterprises
  • Small and medium enterprises
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing globalization and need for cross-border communication
• Proliferation of mobile devices enables on-the-go video conferencing
• Cost-savings offered by video conferencing when compared to in-person meetings

However, the market also witnesses some limitations, which are as follows:

• Data privacy and security concerns related to video conferencing
• Inadequate Internet infrastructure in developing and underdeveloped countries
• Compatibility issues in different video conferencing platforms and hardware

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Market Scope in Video Conferencing Market Research Report

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Research Analysis Overview

The Video Conferencing Market encompasses advanced technologies such as H.264 and VP9 video codecs, Opus audio codec, SFU and MCU architectures, mesh network topology, and low-power consumption designs. It offers high-definition video, multi-stream capabilities, and adaptive bitrate streaming through a content delivery network. Security features include secure socket layer, transport layer security, data encryption standards, digital rights management, and video analytics tools. Real-time user activity tracking and meeting analytics dashboards are also provided, along with session management systems and real-time interaction analysis. Call quality is ensured through network congestion control, error correction codes, packet loss concealment, jitter buffering techniques, and various video conferencing protocols. Interoperability testing is crucial to ensure seamless communication between different systems.

Market Research Overview

The video conferencing market is a significant segment of the global IT system software industry. This market encompasses businesses specializing in the development and production of video conferencing software. Advanced technologies, such as WebRTC and SIP protocol integration, underpin this sector. Key features include audio-video bridging and screen sharing. Our market analysis at Technavio evaluates the market size based on the consolidated revenue of organizations providing video conferencing software solutions, incorporating both on-premises and cloud-based offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/