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 adoption of video conferencing has increased rapidly in the last few years. The businesses are observing a broad array of advantages as the companies are replacing their obsolete web or audio conferencing contracts with a modern cloud-based video conferencing solutions. Through their video conferencing solutions, players such as Zoom and Lifesize help enhance team communications and collaborations while increasing employee engagement and reducing operating costs.
Market Overview and Dynamics
The video conferencing market in APAC was valued at US$ 1,383.5million in 2019 and is projected to reach US$ 3,432.4 million by 2027; it is expected to grow at a CAGR of 11.4% from 2020 to 2027. The stupendous growth of global industrialization is majorly attributed to large enterprises. However, the small scale and medium scale enterprises also play a critical role in driving the industrialization trend. The developed and developing countries, have been continuously witnessing the increase in number of small and medium enterprises (SMEs) over the past couple of years. As the SMEs across the globe are establishing multiple offices to enhance the productivity and profit year on year, the deployment of video conferencing tools is surging rapidly among the SMEs, with an objective to interact with remotely or disparately located teams. The rising demand for virtual video meeting solutions is boosting the video conferencing market.
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 APAC 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
APAC Video Conferencing Market Segmentation
APAC Video Conferencing Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,383.5 Million |
| Market Size by 2027 | US$ 3,432.4 Million |
| CAGR (2020 - 2027) | 11.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Video Conferencing Market is valued at US$ 1,383.5 Million in 2019, it is projected to reach US$ 3,432.4 Million by 2027.
As per our report Asia Pacific Video Conferencing Market, the market size is valued at US$ 1,383.5 Million in 2019, projecting it to reach US$ 3,432.4 Million by 2027. This translates to a CAGR of approximately 11.4% during the forecast period.
The Asia Pacific Video Conferencing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Video Conferencing Market report:
The Asia Pacific Video Conferencing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Video Conferencing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Video Conferencing Market value chain can benefit from the information contained in a comprehensive market report.
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