The Asia Pacific Video Conferencing Market would witness market growth of 17.8% CAGR during the forecast period (2021-2027). There are numerous enterprises that are implementing video conferencing solutions as their technological tool to improve communication and collaboration across globally scattered teams. These companies are also aiming at decreasing the overall communication costs, which has opened new growth prospects for the industry players. It further supports the development of improved conferencing solutions & services such as tele-presence and webcasts.
The increasing utilization of telepresence in the education & healthcare industries is due to the fact that it provides a more realistic method of communication between the participants. In the healthcare industry, telepresence robots are utilized to offer a virtual remote presence, which enables doctors to attend to their patients from anywhere in the world. In addition, the incorporation of holographic technology in telepresence has improved the demand for telepresence systems.
The rising prevalence of many technologies and service-based start-ups in the developing nations like India and China is estimated to propel the regional market growth. There are many key companies present in this region, which are offering a wide range of improved and advanced video conferencing solution in the market. The increasing investment of the enterprises in the region to adopt new technologies to boost the business efficiency will also surge the regional growth.
Furthermore, the growing number of start-ups in this region has significantly increased the adoption of the video conferencing solutions. In addition, the education industry in this region is majorly using visual collaboration solutions like video conferencing and web conferencing for delivering their services to the clients that is anticipated to open new growth prospects for the regional market growth.
The China market dominated the Asia Pacific Video Conferencing Solution Market by Country 2020, thereby, achieving a market value of $630.7 million by 2027. The Japan market is exhibiting a CAGR of 18% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 19.4% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Solution and Services. Based on Deployment Type, the market is segmented into On-Premise and Cloud. Based on Application, the market is segmented into Corporate Communications, Training & Development, Marketing & client Engagement and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Education, Media & Entertainment and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Video Conferencing Market is Projected to reach USD 21.8 Billion by 2027, at a CAGR of 16%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Adobe, Inc., Google, Inc., Amazon.com, Inc., Logitech International S.A., Avaya Holdings Corporation, Plantronics, Inc. (Polycom, Inc.), and Zoom Video Communications, Inc.
By Component
By Deployment Type
By Application
By Industry Vertical
By Country
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