Market Overview and Dynamics
The video conferencing market in North America was valued at US$ 2,029.8 million in 2019 and is projected to reach US$ 3,180.3 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. The educational and healthcare sectors are maturing across developing countries and are continuously experiencing the emergence of advanced technological solutions to increase efficiency. Traditionally, these sectors used room based interaction strategies; however, with the rise in technology, these sectors are investing in virtual solutions for better performance. In recent years, several educational institutions and healthcare organizations are incorporating video conferencing tools to educate students and treat located remotely patients. This is a crucial driving force for the video conferencing market.
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Market Introduction
Video conferencing is a live video-based platform made for conducting meetings between two or more individuals in distinct locations through a video-enabled devices. It enables several individuals to meet and collaborate face to face through long distance meeting by transmitting video, audio, text, and presentations in a real time via internet. The internet infrastructure in well-established in the US and Canada, with significant number of telecommunication companies and service providers. Being technologically advanced countries, the organizations seek faster internet network, and pertaining to this, the telecommunication companies are striving hard to develop and commercialize the 5G network. The development of 5G network would revolutionize the video conferencing market with faster speed, better picture and video quality.
North America Video Conferencing Strategic Insights
Strategic insights for the North America Video Conferencing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Adobe Inc.
Amazon
Brother International Corporation
Cisco Systems, Inc.
Facebook, Inc.
Google LLC
Microsoft Corporation
TeamViewer GmbH
Zoho Corporation
Zoom Video Communications, Inc.
North America Video Conferencing Regional Insights
The geographic scope of the North America Video Conferencing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of type, the hardware segment in the video conferencing market accounted for the largest share in 2019. In terms of deployment, the cloud segment in the video conferencing market accounted for the largest share in 2019. In terms of industry vertical, corporate enterprises segment in the video conferencing market accounted for the largest share in 2019.
Major Sources and Companies Listed
Several major primary and secondary sources referred to for preparing this report on the video conferencing in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adobe Inc., Google LLC, Microsoft Corporation, and Zoom Video Communications, Inc., among others.
Reasons to buy report
- It provides understanding of the North America Video Conferencing market landscape and identifies market segments that are most likely to guarantee a strong return.
- It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the North America Video Conferencing.
- It helps efficiently plan merger and acquisition, and partnership deals in the North America Video Conferencing market by identifying market segments with the most promising probable sales.
- It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the North America Video Conferencing market.
- It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
